Want to earn while you walk? That’s the pitch Sweatcoin makes to users, distributing one coin for each 1,000 steps taken. The coins can then be spent in the Sweatcoin marketplace, which includes hundreds of brand offers, auctions and charities if the user wants to donate their Sweatcoins.
Sweatcoin was established in 2014, as a pedometer app with a twist. Founder Oleg Fomenko had previously worked on mflow, a social music streaming service, which had pivoted in 2013 to Bloom.fm, a radio and music discovery platform.
After shutting down Bloom.fm in 2014 due to lack of funding, Fomenko, along with Anton Derlyatka, Danil Perushev and Egor Khmelev, shifted from music to GPS with the creation of Sweatcoin. It received an initial investment of €700,000, which kept the team running to launch.
For years, Sweatcoin marketplace worked on a 95:5 basis, 95 percent of users would redeem offers for brands connected to the app, such as 40 percent of a clothing store or three months free of a music streaming service. The other five percent would save up their coins for large purchasers, which typically take years of walking to accumulate.
Sweatcoin makes money from these connected brands, which pay to display the vouchers in its marketplace. It also generates income from users that pay for the premium version of Sweatcoin, which allows them to earn more coins per day at a faster rate.
In 2022, Sweatcoin launched the Sweat Economy, which it calls the “movement economy” and is backed by the Sweat Economy alt-coin. This push into cryptocurrency boosted the app’s popularity, and it was the most downloaded health and fitness app of 2022.
We have collected data and statistics on Sweatcoin. Read on below to find out more. Explore further with our in-depth health & fitness app report.
Sweatcoin Key Statistics
- Sweatcoin generated $20 million revenue in 2023, from its subscription service and alt-coin
- Sweatcoin reached 140 million registered users in 2023
- The app was downloaded 23.9 million times in 2023, a decline of 60% on the year prior
Health & Fitness App Report 2024
Want to learn more about the health & fitness app industry? In our Health & Fitness App report, we cover financials, usage, downloads, and demographics by age and gender, alongside market share, engagement, and benchmarks.
Sweatcoin Overview
| Title 1 | Title 2 |
|---|---|
| Launch date | 30 September 2014 |
| HQ | London, UK |
| People | Anton Derlyatka (co-founder, CEO) |
| Business type | Private |
| Industry | Health & fitness |
Sweatcoin Revenue
Sweatcoin made $20 million revenue in 2023, a decline of $2 million on the year prior.
Sweatcoin revenue 2018 to 2023 ($mm)
| Year | Revenue ($mm) |
|---|---|
| 2018 | 5 |
| 2019 | 6.5 |
| 2020 | 8.5 |
| 2021 | 10 |
| 2022 | 22 |
| 2023 | 20 |
Sources: Health & Fitness Report, Company data
Sweatcoin Registered Users
Sweatcoin had 140 million registered users, with most of them added in 2022.
Sweatcoin registered users 2019 to 2023 (mm)
| Year | Users (mm) |
|---|---|
| 2019 | 35 |
| 2020 | 40 |
| 2021 | 55 |
| 2022 | 120 |
| 2023 | 140 |
Sources: Health & Fitness Report, Company data
Sweatcoin Downloads
Sweatcoin downloads declined by 60% in 2023, but were still higher than at any year apart from 2022.
Sweatcoin downloads 2017 to 2023 (mm)
| Year | Downloads (mm) |
|---|---|
| 2017 | 5.1 |
| 2018 | 22.3 |
| 2019 | 13.5 |
| 2020 | 12.9 |
| 2021 | 15 |
| 2022 | 60.2 |
| 2023 | 23.9 |
Sources: Appfigures, AppMagic
Health & Fitness Users by App
Sweatcoin is a mid-tier app in terms of registered users at over 100 million, and one of the most registered non-platform health and fitness apps.
Health and fitness registered users by app 2023 (mm)
Want to learn more? Check out our Health & Fitness App Report
Sweatcoin FAQ
What is the market cap of Sweatcoin’s alt-coin?
Sweat Economy was valued at $50 million in November 2024, about half of its peak value in March.
How long does it take to make 10,000 Sweatcoins?
10 Sweatcoins are generated from 10,000 steps. It would take ten million steps to accumulate 10,000 Sweatcoins, which the company says would take an average of three years
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- Health App Revenue and Usage Statistics (2024)
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- Fitness App Revenue and Usage Statistics (2024)
