Many cryptocurrency projects focus their attention on devising new marketing strategies to stand out in a saturated market that is marked by rapid innovation. Tokens could be distributed to users in exchange for studying, playing, or even just moving around.
Even though you don’t have to buy cryptocurrency or mine it anymore to get some coins, you still have to provide something in return, and most of the time that something is your time or attention.
In the case of the ‘Move-to-Earn’ concept, it’s your body movement that is required.
In spite of the market collapse that is now impacting the cryptocurrency market, we have recently witnessed a new sort of innovation make its way into the airwaves. How exactly does this new invention in blockchain technology function, and does it truly assist users in ‘earning’ money?
WHAT IS MOVE TO EARN?
Move-to-earn is a relatively new trend that alludes to a number of products and services that reward consumers for being active on a regular basis. They are platforms that reward users for staying fit, creating an avenue for additional revenue stream for engaging in their usual fitness exercises, or taking part in certain workout challenges. It is an offshoot of the Play2Earn trend which sees users being compensated in bitcoin for participating in virtual games.
In general, the purpose of these platforms is to reward physical activity, with the goals of lowering obesity rates and combating sedentary lifestyles while also providing users with the chance to earn money for making positive changes to their health.
The term “move-to-earn” was initially coined and made popular by the Web3 wellness app – STEPN in September 2021; however, it has long been embraced by a number of other applications that reward users for their participation.
The method in which these applications produce rewards can vary greatly from one platform to the next; nonetheless, almost all of them compensate users with their native utility tokens for undertaking workout activities such as walking, jogging, or swimming.
IS MOVE-TO-EARN SUSTAINABLE?
It’s a common desire for people to be paid for doing something they already do on a daily basis. It’s important to encourage individuals to walk or run more often as part of the “move to earn” initiative. In theory, those who currently do so can reap substantial returns without putting in more work. In addition, investors often provide initial support and finance for these ventures.
However, in order to ensure the long-term viability of the monetary incentives, the developers must be able to generate profits from this venture in the long run. That’s one of the possible drawbacks of relying on move-to-earn. There is no evidence that either the creators or the users will be able to maintain the functionality of this venture financially. The amount of persons who can join numerous projects is also restricted, which creates artificial and unnecessary hurdles. In a more realistic sense, the idea of being paid for walking, jogging, and running is really enticing.
As is common with all novel ideas, this one still has more research to be done but one area where sustainability can be ensured is the use of paid ads to generate income for the developers just like most online games do.
But there is always a more real possibility of earning cryptocurrencies. Jobs platforms provide an opportunity to find crypto jobs remote. Starting your career and earning crypto is easy. You also can try NFT jobs using Laborx crypto jobs service, especially if you have the skills to create unique art.
TOP PROJECTS WITH MOVE TO EARN
The fundamentals of each project will be slightly different, but the overall objective of the majority of them is to gain move-to-earn cryptocurrencies by accomplishing in-game objectives. Here are a few top projects to earn with:
The StepN application functions primarily as a channel through which users can purchase shoe NFTs from the StepN store. There are various pairs of shoes, each with their own unique set of characteristics, contained within this inventory. These characteristics include things like energy efficiency, durability, and resiliency, among others. You can earn money by running, jogging, or even walking if you follow these instructions, but first you have to decide which shoe is the right one for you.
The native token of STEPN, GST or GMT by successfully completing daily challenges or by expending the required quantity of energy, which can only be completed by increasing the amount of time you spend moving around. The GST can be used to acquire more shoes if necessary.
Sweatcoin is another popular app that provides move-to-earn services and was introduced in the year 2015. Sweatcoin operates on the premise that the program will keep track of the number of steps you take on a daily basis and reward you with the company’s native token, SWEAT.
The first level of this app is available to use at no cost, however further levels require a paid subscription in order to access them.
The fact that you are restricted in the number of steps you may take is one of the inherent drawbacks of Sweatcoin that works against its widespread adoption. There is a predetermined amount of steps that count and are rewarded for completing each level. And once you have completed the number of steps, even if you continue to move after that point, it will not be counted, and you will only get compensated for the amount of steps that were actually counted.
The Dotmoovs application is a little distinct from the others in the sense that it not only rewards you for walking, jogging, and running, but it also rewards you for a variety of other types of body actions.This means that you ca ou get paid whether you dance, groove, show off your soccer moves, or do random limb movements. If you lose, you don’t get paid at all.
DotMoovs is an innovative platform for competitive sports in the Metaverse that enables users to connect with and compete against one another in a virtual environment.
Your video of recorded actions and movements is analyzed by an artificial intelligence system within the DotMoovs app. This algorithm then evaluates your video in comparison to videos submitted by other participants and determines the winner of their virtual competitions.
Winners of these competitions get rewarded with the MOOV token. This MOOV token can be expended on the acquisition of NFT sneakers. You may also make money off of these sneakers by selling, trading, or lending them to your friends and acquaintances while getting commission whenever they use them.
There are several move-to-earn games available online, so whether you’re searching for a means to meet new people, get in shape, or make some extra cash, you shouldn’t have any trouble finding one that matches your expectations.
The Move-to-Earn games are quickly becoming a fan favorite. They are entertaining, will reward you with cryptocurrency in exchange for your workout efforts, and will assist you in achieving your fitness goals. However, if you check around, you will find that there are many more with possibly more options that could be suitable for you.