Sweat Economy is actively seeking academic institutions and research institutions through a new grant program to develop frameworks quantifying the economic value of daily physical activity from multiple perspectives.
Through the Sweat Economy ecosystem, which includes the Sweat Wallet used by over 10 million globally, the initiative aims to establish an objective monetary value for an “active day”, quantified as 10,000 daily steps.
The Request for Proposals launched by Sweat Economy today takes a multi-faceted approach, requesting proposals to analyze literature and present approaches to estimate the value of physical activity from an individual, industry, and governmental lens. Specific factors to be considered can include healthcare cost savings from reduced risk of chronic diseases like heart disease, diabetes, and cancer. Other benefits might be increased workforce productivity through less absenteeism, better mental health outcomes, and gains in life expectancy.
Oleg Fomenko, Co-Founder of Sweat Economy said: “The launch of this community-led research initiative marks the first crucial step toward uncovering the true, measurable value of physical activity. We’re excited to collaborate with leading academic institutions and passionate health researchers, and contribute to important research that will impact the health of individuals both within Sweat Economy’s ecosystem and across the wider global population.”
Up to five institutions will receive grants of $10,000–$20,000 to develop a framework for analyzing these wide-ranging physical, mental, and economic benefits. Submissions should outline three different approaches to estimating the aggregate value of physical activity and three estimated values for the formulas proposed using existing data sources and assumptions. Applications can be submitted to grants@sweateconomy.com, and should outline the credentials and relevant experience held by the participating institution, the proposed methodology and process, and the estimated timeline and costs. Additionally, participants are asked to submit a short video that will be used to drive exposure to the Sweat Wallet’s 10 million global users.
Final submissions will be publicized to raise awareness of the proven value of exercise and physical activity. Interested researchers will be able to review the full proposal before the February 14, 2024 submission deadline, with final reports due by May 15, 2024. For more information on the grant and how to apply, please see https://sweateconomy.com/grants.
About Sweat Economy
Sweat Economy is a Web3 ecosystem on a mission to help the world be more physically active by incentivizing activity. It is powered by $SWEAT or Sweat Token, a crypto asset representing tokenized physical activity, minted by steps. The token is managed via the Sweat Wallet dApp, the non-custodial Web3 mobile wallet dApp for managing your $SWEAT and other crypto holdings. Sweat Wallet is a top 5 dApp globally, designed for the crypto-curious.
With over 140M+ registered Sweatcoin users, and more than 10 million Sweat Token holders, Sweat Economy is facilitating one of the most significant onboardings in Web3 history.