Both earning money and improving health, It seems difficult to link together in the GameFi market. But Move to Earn trend is very hot, combined with the strong growth of STEPN. So What is Move to Earn. Whether Move-to-Earn may support GameFi market to recovery in Bear Market in the recent. Now let’s have a look with us through the article below:
What is Move to Earn?
Move to Earn is the modification of Play-to-Earn. Players could earn money by outdoor activities such as walking, jogging, and running… instead of joining games to make money in Play- to – Earn.
Besides, players need to use some smart devices like Smart Watch, SmartPhone… which gather data about your outdoor activities and then they be converted into data, experience used to convert into properties in the application.
The features of Move-to-Earn on the market
- NFT mechanism, Marketplace: According to the market trend, Move to Earn projects also use NFT mechanism and have their own Marketplace for players to manage and buy and sell products conveniently.
- Gameplay: It is literally named Move to Earn, the gameplay of STEPN or Genopet focuses on transforming human activities on a daily basis into valuable rewards in the game.
- Sensor and GPS apps: To reward players fairly, Move to Earn games now use sensor technology and GPS. This technology is not only for gameplay but also used to prevent fraud from players.
- The friendly projects, overcoming the drawbacks of traditional games: With Move to Earn, nobody will dare to claim that playing games for money will have to focus on the screen all the time. When all physical activities or outdoor activities are transformed into valuable rewards, players can both breathe fresh air and improve their health while achieving their own goal and kill two birds with one stone.
Should You Invest In M2E?
Move-to-Earn (M2E) gamification isn’t another shiny object to obsess about. It’s not there for hype alone because it’s an investment. If you want to go for higher quality gameplay then you have to buy a more expensive NFT sneaker, to begin with.
The NFT sneakers also have set limitations. For instance, the basic pair of NFT sneakers will allow you to earn tokens for only 10 minutes daily. This is converted to around 8 GST which is at an estimate of $37 daily following the current price of GST.
More so, NFT sneakers also need maintenance and repairs just like your real-life sneakers. Decreased efficiency levels due to wear and tear will also result in low earnings. Nevertheless, it’s all tax-free.
It’s amazing that you get to generate passive income from the physical fitness activities that you do every day. Additionally, M2E players can also trade or stake their in-game tokens to increase their profits.
Where Is The Money Coming From?
Everyone would like to be paid for something they already do every day. For the move to earn projects, it is about getting people to walk or run more often. Those who already do so can – in theory – earn lucrative rewards without extra effort. Moreover, these ventures will often receive initial backing and funding from investors. However, it is essential to create long-term sustainability for monetary incentives, which means there needs to be an income by the developers.
That is one downside of using move to earn projects today. There is no indication of any sustainability for income, either for the developers or the users. Moreover, many projects limit the number of people who can join, creating artificial and unnecessary barriers. The concept of being paid to walk, jog, and run is appealing, but there is much work to do in this industry today.
Now, Let’s have a look top 5 best Move To Earn platforms to earn crypto below:
STEPN is a part of the Solana blockchain ecosystem, the flagship move-to-earn platform. Users need to set up an account, purchase a pair of NFT STEPN Sneakers with SOL and then start moving around in the real world. The more you move, the more Green Satoshi Tokens you earn. In-game challenges like Marathon Mode keep players engaged and working towards a challenge. At the moment though, there is a time-gated mechanic which caps players’ earning potential at a certain point.
OliveX, which is based on the Polygon blockchain, a digital fitness company that uses gamification, augmented reality and play-to-earn gaming to deliver an entire ecosystem with the aim of improving people’s health. Not only is the platform building its own interactive virtual world within The Sandbox, it also has the Dustland series of games. By going on runs and moving around in the real world, players get virtual rewards (NFTs/DOSE tokens) they can use to upgrade their avatar and progress on their adventure.
Genopets is a part of the Solana blockchain. The game combines NFTs items, battle arena gameplay and move-to-earn functionality. Players can level-up their Genopet NFT avatars by doing exercise in the real world. The stronger your Genopet grows, the more likely they will be to conquer your opponents.
Dotmoovs runs on Polygon exchange, the goal of Dotmoovs is to ‘democratize access to sports challenges’. Wherever users are in the world, and whatever the size of the bank balance, they can compete with other Dotmoovers. The game’s native token is MOOV and players can earn it by going head-to-head with opponents in soccer challenges or dance-offs. Users can also mint sneakers and soccer balls as NFTs to use in-game.
Wirtual began development in 2019 and launched in April 2020 on BNB Smart Chain blockchain ecosystem. The move-to-earn platform has 40,000 monthly users and is available in 160 countries around the world. Players can join Wirtual’s running, walking, swimming, cycling, dancing and work-out activities to earn WIRTUAL tokens. The company calls this ‘Sweat Mining’ and the top earner on the platform currently earns $50 a day. Exercisers can track their activity on a range of linked up activity apps and upload the information to their Wirtual account.
Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.