The metaverse and cryptocurrency space has recently shown innovation and dynamic earning potential along with a myriad of opportunities. Moving on from play to earn, the industry is now exploring a move to earn potential that allows users to earn rewards for conducting physical activities. Move to Earn is showing the potential of earning crypto rewards in real life while users work out or perform similar activities.
What is Move to Earn in Crypto?
Like, play to earn, move to earn allows app users to earn passive income by engaging regularly in physical activities like workouts, dancing, playing on-field games, and so on. Users can own in-game assets that are also eligible for exchange with crypto or fiat depending upon their preference.
Many gaming applications like STEPN and Dotmoovs revolve around the idea of rewarding or tokenizing physical movements carried out by the user. While most of these apps are in their beta versions, they are worth checking out right now.
What is the Hype?
Combining physical activity and rewards is an interesting combination that deserves all the hype. Venture capital firms like Sequoia Capital and individual investors have recently started investing (multi-millions) heavily in this upcoming age of gamification.
We know how many people do yoga, Zumba, running or work out in a gym to stay physically active that our work responsibilities may not allow as much. Many people look for ways to earn passive income, for instance, through investments. What if both these things are combined? That’s exactly what Move-to-Earn is all about.
Top Move to Earn Apps
Within the Move-to-Earn apps, users can find NFT sneakers of varied designs and qualities that must be purchased to start participating in the events. While these NFTs are easily mintable, they can also be sold on different NFT marketplaces.
Once the purchase is complete, users must use these sneakers every time they carry out physical activity to earn in-game rewards. Many of these M2E platforms are gaining wide social media attraction.
Here’s a list of the most popular Move-to-Earn Apps:
STEPN is basically a combination of social and gaming elements in the Web3 world. A Solana-based app, players of STEPN can earn rewards through walking, jogging, or running. Launched in December 2021, the app gained traction for its governance token GTM (Green Satoshi Tokens) that players earn as rewards.
The app uses GPS to track progress and distribute rewards accordingly. Recently, STEPN secured funding from Sequoia Capital and Folius Ventures, and Solana Capital, making it one of the most intriguing projects of M2E.
Dotmoovs is a P2P sport and dance competition platform that aims to change the way people look at the performance relating to these subjects. Being an AI-enabled platform, Dotmoovs captures moves through videos uploaded from a smartphone and evaluates the same for rewards.
Users can also participate in multiple competitions to gain better rewards. However, platform users must invest in MOOVS or buy in-game NFTs to proceed.
Digital Fitness (DEFIT) is a Web3 application designed to make physical activities more fun, appealing, and rewarding. Users will have access to buy different fitness products to improve and ease everyday physical activities. DEFIT is a multi-chain cryptocurrency platform on Ethereum and Polygon blockchains.
An interesting element of the platform is that users do not necessarily have to buy in-game NFTs. Rather they will be able to earn tokens through different challenges. However, DEFIT NFTs will provide an edge above others who do not own any.
Genopets is a one of its kind Move-to-Earn NFT game on the Solana blockchain that allows its users to keep active lifestyles fun and easy. The app combines a player’s data with the blockchain via P2E economics to reward in-game tokens, which can be swapped for crypto or NFTs.
Launched in 2022, OliveX is a gamified Move-to-Earn platform that enhances real-life workout experiences through its gaming design of the Genoverse. While improving their physical fitness, users can also earn passive income in form of in-game rewards, which can further be swapped for different cryptocurrencies.
Move-to-earn applications are in their early stages of development since the concept was only launched in 2021. However, M2E is equally promising as P2E. In P2E, a player sits in a single place and concentrates on online gaming. On the other hand, in M2E, players must move around to earn rewards. “Move to earn” is an interesting concept, especially for us millennials who want to maintain an active lifestyle but also earn passive income for it.
It is an intriguing concept that all of us need to check out at least once.