Hyperverse, amongst other crypto projects, has raised curiosity and concerns in equal measure. And with every passing day, there are more raised eyebrows and questions regarding its legitimacy.

In part, it's a result of the plummeting cryptocurrency value this year. The [FTX debacle](/news/article/ftx-bankrupt-who-to-blame) hasn't helped, either.

The scandal of FTX and its demise has revived conversations around the validity of crypto projects. Exposed to the recent searchlight is the [Hyperverse](https://thehyperverse.net/index.html), and we're about to take a sneak peek.

## So, what is the Hyperverse crypto project?

![hyperverse1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/hyperverse1_4bd03f9813.png)
  
Picture of The Hyperverse

Visit the Hyperverse.net website and you're greeted with the following words against a backdrop of star systems and futuristic cityscapes.

### Where Reality Ends and Imagination Begins

According to the team, Hyperverse is a virtual metaverse with player voyagers residing on millions of planets and interacting with one another in the commerce of tokenized items.

So the story goes that this is 2078AD, and we've mastered interstellar travel. Kicking off the age of interstellar migration, the first human voyagers on the Proxima Centauri star system created the Hyperverse.

There's even a cool video of a space vehicle, Apollo, docking into what I can only describe as a space city enclosed in a glass bubble just off the rocky rings of a mars-like planet. The video ends with a panoramic view of the glass bubble attached to a spaceship.

And then, the word HYPERVERSE comes into focus.

## So why should we have the Hyperverse?

Catchy lore, cool videos, and a buzzing community are nice and typical in the crypto space, but so is the tendency to be more community than a commodity.

## Features

![hyperverse2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/hyperverse2_08e6f06d0e.png)
 
Picture of The Hyperverse

The [Hyperverse](https://thehyperverse.net) claims to bring users value through a combination of features from themes in gaming, Metaverse, crypto economy, [DeFi](/news/tag/defi), and governance.

![Screenshot 2023-01-30 at 09.20.02.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_01_30_at_09_20_02_3a4a35a64a.png)

![hyperverse3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/hyperverse3_5c61fdf2d2.png)

Picture of The Hyperverse

## Concerns

The one question that many Hyperverse crypto project critics feel the team doesn't answer clearly is how the Hyperverse claims to make money. The team promises returns of 0.5% per day for 600 days, where investors can look to make as much as 300% returns on their initial investments. They say that these returns are gotten from their savvy investments in crypto currencies and other Web3 projects.

But the thing is that no one can guarantee such returns for that long. Also, the assets they claim to make money from have dropped in value, with many at around 3% to 10% of their original value. As we speak, Bitcoin trades for $16,000, 80% down from its all-time high in October last year.

There are other complaints as well. Investors lament the difficulty, and sometimes inability, to sell their HU cryptocurrencies. All the while, the Hyperverse crypto project keeps changing its name, from Hyperfunds to Hyperverse and then to Hypernation. What is steady across these changes is the increasing skepticism around the hype. 

It seems to be a Ponzi scheme dressed in the latest garb of the times - web 3.0. However, remember to do your own research.


pink image of hyperverse logo on image of futuristic city

A quick look at the Hyperverse crypto project

## How to summarize the Sweatcoin crypto offering?

Imagine if someone walked up to you and said you could be paid just to take a stroll. You know, earn money to stay fit and in shape.

Crazy right?

Your alarm bells would go off, unless you're some kind of professional athlete or you aspire to be one.

Those of us with their bells ringing can attest that when things sound too good to be true, you're right most of the time. But in my case, the steps of more than 120 million users of Sweatcoin drowned my alarm bells and triggered my fear of missing out (FOMO).

I had to check the app, and I'll share what I've learned so far.

## SWEAT crypto move-to-earn history

SWEAT, or Sweatcoin crypto, is a cryptocurrency one can earn by simply walking. It launched in 2016 as a pioneer in the move-to-earn app space by co-founders and fitness enthusiasts Oleg Fomenko and Anton Derlyatka.

The original [Sweatcoin](https://sweatco.in/) app paid users in-app coins to do physical activity. But these in-app coins, known as Sweatcoins, weren't cryptocurrencies because the mobile app wasn't built on a blockchain. It would take nearly six years for that to happen, ushering in the SWEAT token as a cryptocurrency that can be exchanged for fiat money or other digital assets.

## How the SWEAT token works

For your first 5,000 steps of the day, you get 5 Sweatcoin crypto tokens, a departure from the original reward system of 1 Sweatcoin for 1,000 steps. In the words of the SWEAT team, SWEAT works by having validated steps mint tokens that can be exchanged for gift cards, product discounts, digital assets like altcoins and [NFTs](/news/article/free-nfts), and fiat currency.

On the SWEAT Economy website, we get a glimpse of the current state of the ecosystem and the direction development and community building are heading. Described as The Open Economy of Movement in its litepaper, SWEAT describes the minting of Sweatcoin crypto as a form of contribution to the ecosystem and society.

Each Sweatcoin crypto token earned will be harder than the previous one. That is to say that although 1,000 steps generate 5 SWEATs, it'll gradually mint fewer and fewer SWEAT tokens in the coming months and years.
It's an intentional incentive to increase the physical activity of their users. 

Inactivity is deterred by a Decentralized Autonomous Organization (DAO) fee as a check to SWEAT token inflation and a way to keep users accountable for their physical activity journey.

When it comes to tokenization, SWEAT has several ways to generate value for its token. Advertising plays a significant role. Across its web 2.0 and web 3.0 platforms, it has more than 120 million users. As a business or tech project looking to reach nearly half a billion eyeballs, you'd need to pay substantially and do so in SWEAT crypto.

Then there are premium subscriptions users can pay for a better app experience. Some of these incentives include NFTs, exclusive markets, and social channels.

Individuals will be in charge of their data to do with it what they like - including selling it to whomever, if the individual so desires, via SWEAT.

## Features of Sweatcoin crypto

Some of the features of SWEAT crypto include:

•	Transfer: SWEAT uses its vast platform of more than 120 million users to attract businesses that offer products as opportunities to gain customers. The SWEAT team tries to find a balance where its shows products and advertisements that truly improve users' lives.

•	Staking and rewards: SWEAT incentivizes users to stake their SWEATs for interesting yields. Some of these motivations include lower transaction fees, premium services, and extended SWEAT minting limits per day. The rewards in the apps are better as well.

•	Fiat on-ramps: Thanks to MoonPay, users can pay for SWEAT crypto tokens using fiat currency from credit cards. And the SWEAT team is working to include other cryptocurrencies as well.

•	NFTs and Games: Here, SWEAT developers are working to bring engaging and fun games with interesting NFTs to inspire users to compete for SWEATs. This is quite similar to what you see on move-to-earn projects like Genopets.

## Takeaways

Looking to the future, SWEAT crypto is expanding its DeFi services. First, it is looking to develop governance and on-chain via the SWEAT DAO.

Then there's the NFT marketplace and decentralized exchange integration. A flurry of activity is headed to an entire economy of movement, with better movement validators for physical activities such as swimming and cycling, and better opportunities in movement data analytics.

The downturn in the economy has dealt a huge blow to Web3 enthusiasts. Across the board, NFTs, cryptocurrencies, and crypto projects have lost as much as 90% of their value. The app looks promising, and the founding team is passionate and talented; time will decide if this project will succeed.


green image of person walking with sweatcoin move-to-earn company logo on top

Sweatcoin Crypto and What You Need to Know 

Are you a hardcore crypto believer or a greenhorn getting your feet wet in Web3? Regardless of what stage you are on your blockchain journey, sooner or later you'll create and receive value in the form of cryptocurrency. When you do, you'll [need a wallet to store them](/news/article/crypto-wallet-multiple-currencies), and Trezor is an option.

In this article, we'll examine three reasons to go for the [Trezor Wallet](https://trezor.io/).

•	Security

•	Anonymity

•	User experience

## Security

When it comes to security, there are no 100% guarantees, but the Trezor team pushes the boundaries towards perfection with the procedures and features they have in place to protect the assets of their customers.

One feature that comes to mind would be the capability of on-device interactions like passphrase and PIN. With the Trezor Model T's touchscreen display, the above on-device interactions increase the security of your assets when your wallet is connected to another device. It's got great cryptography courtesy of features such as SLIP-39 Shamir on the Model T and BIP-39 passphrase.

## Anonymity

You can always go one step further in securing your crypto assets with Trezor wallets. It's one thing to have the technical ability to wade off hackers, but what if you hide your stash so they don't even know what to look for?

Switching to a Tor browser for your Trezor wallet can protect two vital pieces of data about you. They're your IP address and extended public key (xpub). Your IP address reveals your ISP and country, while your xpub data shows how many coins are stored in your wallet. If hackers get their hands on such an IP address, they'll try to find funds associated with it.

And no one wants criminals selling such information on the black market or going for your physical address. Using a Tor browser severs the public link with your Trezor xpub so that even if the Trezor database is hacked, they won't get to your IP address.

## User Experience

With Trezor, you get seamless onboarding regardless of your experience with Web3. Once you get your hardware, Model T or Trezor One, download the Trezor suite and install it. In just a few minutes, you'll be through with the entire setup.

Onboarding aside, your day-to-day use of your Trezor wallet is made easy with the touchscreen display. It's an OLED display with 128×64 pixels for the Trezor One and a 240×240 pixel LCD for the Trezor Model T. 

Regardless of your choice, the displays are easy to read and interact with because they emit vibrant colors and show legible text. Despite the small screens, accessing information through clicking and reading is near error-free.

## Wrapping Up

With the recent events unfolding in the crypto industry, it's important to have a secure place to keep your cryptocurrencies. All that chaos with crypto platforms like the [liquidity crunch at FTX](https://techcrunch-com.cdn.ampproject.org/v/s/techcrunch.com/2022/11/08/binance-signs-letter-of-intent-to-acquire-ftx/amp/?amp_gsa=1&amp_js_v=a9&usqp=mq331AQKKAFQArABIIACAw%3D%3D#amp_tf=From%20%251%24s&aoh=16679837828856&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Ftechcrunch.com%2F2022%2F11%2F08%2Fbinance-signs-letter-of-intent-to-acquire-ftx%2F) and, formerly, hardcore [Dogecoin](/coins/doge) speculators suing [Elon Musk lends credit to the skepticism of Bill Gates](https://news.sky.com/story/elon-musk-sued-for-258bn-over-claims-he-ran-a-pyramid-scheme-to-promote-dogecoin-12635334).


Latest Moni

Author: Makuo Jinanwa

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