Move to Earn (M2E): Maximise Your Earnings While Keeping Fitness
Move to Earn (M2E): Maximise Your Earnings While Keeping Fitness
Do you know that people now can earn rewards for physical activities by using blockchain technology? Yes, with Move-to-Earn (M2E) applications it's now happening. In general Move to Earn works on a latest web3 economic model that rewards people towards participating in fitness and sports related activities. People can participate in exercising, staking, trading and minting. Move to earn rewards for the participants for their physical activities like walking, jogging and running, whereas there is also a concept known as Play to earn rewards for allowing for battles to win, progressing through levels and becoming a part of the virtual world.
Do you know that staying fit is one of major opted resolutions people avail at different stages of life. As per the reports presented by the World Health Organisation, 79% of adults worldwide are now aware of the potential of staying physically active. But it's surprising for all the fitness enthusiasts to have accessibility of certain dApps where they allow people to earn rewards while keeping their physical fitness intact.
With the Move to Earn (M2E) play, the technology has become rewarding and incentivizes users in the form of cryptocurrencies and other rewards. Apps like STEPN, Sweatcoin, Genopets, Step App and Dotmoovs makes the M2M more accessible, intuitive and sustainable. Play to Earn is also one of similar terms of Move to Earn, let's figure out the difference and what future does Move to Earn carry?
Move to Earn (M2M)
M2M apps enable users to gain crypto rewards while participating in fitness and sports based activities. These applications employ a similar model enabling Play to Earn (P2E) web3 apps that rewards participants for their seamless contributions and skills. Whereas M2E demands users to stay consistent and active while participating in physical exercises and activities instead of playing behind gadgets.
As per the study conducted by Nature, it was found that M2E platforms played a noticeable journey of inspiration to exercise and generating financial incentives. In general the M2E model takes leverage of potential technologies and integrates them seamlessly with brand new product enabling Global Positioning System (GPS), Non Fungible Tokens (NFT), blockchain, cryptos, and the gain technologies that fosters tracking of user movements and the reward management.
Move To Earn (M2E): How does it work?
Similar to the Play to Earn, Move to Earn apps are free to use and they enable the participants to purchase over NFTs like STEPN needs users to either purchase or rent sneakers before playing. As the participants move and conduct, they can earn cryptos to mark the purchase and upgrade, noticing their overall progress. Move-to-Earn Games utilise the participants' mobile device to track the GPS, step counter, moves tracking and reward them based on that.
Earn through Exercising
Most M2M platforms are directly associated with the physical exercises. The vision behind such applications are the motion around like running, jogging, etc. People gain rewards within in-game and digital assets if they take part in physical exercises. The majority of web3 fitness apps incentivize the users with the unique in-game currencies that later can be converted into crypto assets or in any sort of online purchase line.
Earn through Trading
The user can earn in-game cryptocurrency items and NFTs as their core element via M2E platforms, there are such ready to market projects performed on the secondary marketplaces like Open Sea and LooksRare.
Staking for Rewards
Some M2E apps employ the GameFi methodologies and have staking functionalities. Apps like Step offer perpetual staking enabling users to stake their assets and enabling them to receive indefinite reward.
Minting
M2E apps allow participants to earn in Game NFTs and they can later be used on exchange or in secondary markets.
Play to Earn (P2E) v/s Move to Earn (M2E)
Play to Earn (P2E) and Move to Earn are innovative web3 app models. They combine both the gaming and the cryptocurrency by redefining how people could approach entertainment, health and financial incentives. In general players at play to earn needs to complete the tasks, compete against other players and need to reflect their progress through the game. In return they earn Non Fungible Tokens (NFTs) which can directly be sold on marketplaces and the cryptocurrency exchanges. On the same hand, players can earn crypto tokens for conducting physical exercises like walking, running or by working out. M2E games are based on the web3 ecosystem and target the wider demographic considering people’s psychic towards fitness.
5 Move to Earn (M2E) Apps Based on Market Cap
From the past few years the number of adopting Move to Earn games have increased drastically. Not just that, the businesses who are jumping to launch their own Move to Earn software are also rising in digits. Here are some popular Move to Earn games that you must have knowledge about.
STEPN (GMT)- $412 Million Market Cap
This app was launched in March 2022 on the Solana blockchain with a maximum market cap. To participate in its reward mechanism, participants must have rented or bought a pair of NFT sneakers to begin. Those NFTs are priced differently based on their various types, levels and the quality determining the number of rewards players can earn and how fast the user can generate the in app items.
STEPN employs two digital currencies, GST and GMT. The Green Satoshi tokens fall under market leading utility currencies and are used to reward the participants. The players can also utilise those to mint, repair, and to upgrade the sneakers.
STEPN (GMT)- $412 Million Market Cap
This app was launched in March 2022 on the Solana blockchain with a maximum market cap. To participate in its reward mechanism, participants must have rented or bought a pair of NFT sneakers to begin. Those NFTs are priced differently based on their various types, levels and the quality determining the number of rewards players can earn and how fast the user can generate the in app items.
SweatCoin (SWEAT)- $84 Million Market Cap
Sweatcoin is also one among web3 fitness apps that rewards the participants for their working out habits. The platforms acquired a trusted partnership with accessible healthcare organisations such as the UK national health service (NHS), proving that the project could be taken into account considering people’s needs. The native currency of Sweatcoin, SWEAT token was launched in April 2022. The SWEAT tokens are used to incentivize the participants for keeping them fit.
STEP App (FITFI) - $23 Million Market Cap
Step App is one among M2E crypto based fitness applications. People who hold the FITFI can stake and participate in drawing to win sneaks simultaneously. Facilitating the burn rates, revenue allocations and achievements, Step App raised $7 million on its Public sale in April 2022. Step App has a secondary token, KCAL, that acts as a utility token for the platform using which participants can buy sneakers and stuff for participating ahead for the competition.
Genopets (GENE)- $14 Million Market Cap
Genopets is one among unique M2E games that combines the potent of both M2E and P2E altogether. It promotes role playing games (RPG) to incentivize the players in gaming, working out and to care for the NFT pets. The app has a dual token system, in which the first is known as GENE which acts as a governance token, and the second one is KI an in-game token facilitating in-game activities and rewards.
Dotmoovs (MOOV) - $5 Million Market Cap
Dotmoovs falls perfectly under top five categorisation of Move to earn games based on Market Cap. The app combines the advancement of Artificial Intelligence, blockchain, GPS and the NFTs for tracking and rewarding the players. The app has MOOV tokens to reward its game participants for the Dancing and Soccer tournament. People can use Moov points to earn the purchase and upgrade the user’s avatars.
Future of Move to Earn Games
Move to Earn has a growing base in the blockchain industry that makes an impressive fusion of physical activity with the modern reward system. M2E games are expected to shine across the future with a potential growth figure. The presence of web3 gamification makes M2E more engaging and rewarding for the participants. It ensures that the users can form a community on a personal level and build a trusted connection with the app presence. As M2E works on blockchain, it automatically supports decentralisation, transparency and enables quick participation across gaming choices.
At present, the era demands to stay active, and physically fit , despite the odd in routines , Move to Earn games encourage people to leave their couch and participate in M2E lead activities. In exchange for sweat, the participants receive the successive incentives and rewards that they can later use to buy crypto, mint and to invest. There are many applications like STEPN, Sweatcoin, Step App, Genpets and Dotmoovs are doing exceptional jobs with a robust market Cap offering sports based learning mechanisms. Stay fit while earning that’s all M2E promotes.
