Many cryptocurrency projects focus their attention on devising new marketing strategies to stand out in a saturated market characterized by rapid innovation. Tokens can be distributed to users in exchange for study, play or even just movement.
Even if you no longer have to buy cryptocurrency or mine it 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, movement of your body is required.
Despite the market crash that is now hitting the cryptocurrency market, we’ve recently seen a new kind of innovation make its way into the airwaves. How exactly does this new invention work in blockchain technology and does it really help users “earn” money?
WHAT IS THE MOVE TO EARN?
Move-to-earn is a relatively new trend that alludes to a range of products and services that reward consumers for being active on a regular basis. They are platforms that reward users for keeping fit, creating a path for an additional revenue stream to engage in their usual fitness exercises or to take part in certain training challenges. It’s an offshoot of the Play2Earn trend that sees users compensated in bitcoins for participating in virtual games.
In general, the purpose of these platforms is to reward physical activity, with the aim of lowering obesity rates and fighting a sedentary lifestyle, while also providing users with the opportunity to earn money to make positive changes to their health.
The term “move to earn” was initially coined and popularized by the Web3 – STEPN wellness app in September 2021; however, it has long been adopted by a number of other applications that reward users for their participation.
The method by which these applications produce rewards can vary greatly from platform to platform; however, nearly all of them compensate users with their native utility tokens for undertaking training activities such as walking, jogging, or swimming.
IS MOVE-TO-EARN SUSTAINABLE?
It is a common desire that people get paid to do something they already do on a daily basis. It is important to encourage people to walk or run more often as part of the ‘Move for Earnings’ initiative. In theory, those who currently do so can make substantial gains without committing more work. Additionally, investors often provide initial support and funding for these initiatives.
However, in order to ensure the long-term viability of monetary incentives, developers need to be able to generate long-term profits from this venture. This is one of the possible drawbacks of relying on move-to-earn. There is no evidence that neither the creators nor the users will be able to financially maintain the functionality of this venture. The number of people who can participate in numerous projects is also limited, which creates artificial and unnecessary obstacles. In a more realistic sense, the idea of getting paid for walking, jogging, and running is very tempting.
As is common with all new ideas, this one still has more research to do, but one area where sustainability can be ensured is the use of paid ads to generate revenue for developers, just as most companies do. online games.
But there is always a more real chance of earning cryptocurrencies. Job platforms offer the opportunity to find crypto jobs remotely. Starting your career and earning cryptocurrencies is easy. You can also try NFT jobs using the Laborx Crypto Jobs service, especially if you have the skills to create unique artwork.
THE BEST PROJECTS WITH MOVE TO EARN
The fundamentals of each project will be slightly different, but the overall goal of most of them is to earn move-to-ear cryptocurrencies by achieving in-game goals. Here are some of the best projects to make money with:
The StepN application mainly works as a channel through which users can purchase NFT shoes from the StepN store. There are various pairs of shoes, each with their own unique set of characteristics, contained in this inventory. These features include things like energy efficiency, durability, and resilience, among others. You can earn money by running, jogging or even walking if you follow these instructions, but first you need to decide which shoe is right for you.
The native token of STEPN, GST or GMT by successfully completing daily challenges or by spending the required amount of energy, which can only be completed by increasing the time you spend traveling. GST can be used to acquire more shoes if needed.
Sweatcoin is another popular app that provides mobility services and was introduced in the year 2015. Sweatcoin operates on the premise that the program will track the number of steps you take on a daily basis and will reward you with the company’s native token, SWEAT.
The first tier of this app is available for free use, however later tiers require a paid subscription to access it.
The fact that you are limited in the number of steps you can take is one of Sweatcoin’s inherent drawbacks which contrasts with its widespread adoption. There is a predetermined amount of steps that count and are rewarded for completing each level. And once the number of steps is completed, even if you keep moving after that point, it will not be counted and you will only be compensated for the amount of steps actually counted.
The Dotmoovs app is slightly different from the others in that it not only rewards you for walking, jogging and running, but also rewards you for a variety of other types of body actions. This means you can get paid if you dance, groove, show off your football 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 allows users to connect and compete against each other 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 against the videos submitted by other participants and determines the winner of their virtual competitions.
The winners of these competitions are rewarded with the MOOV token. This MOOV token can be spent on acquiring NFT sneakers. You can also make money on these sneakers by selling, exchanging or lending them to your friends and acquaintances while receiving commissions every time they use them.
There are several online games available, so if you’re looking for a means to meet new people, get fit or earn some extra cash, you shouldn’t have a problem finding one that matches your expectations.
Move-to-Earn games are fast becoming fan favorites. They are fun, they will reward you with cryptocurrency in exchange for your training efforts, and they will help you reach your fitness goals. However, if you take a look, you will find that there are many more with possibly more options that may be suitable for you.