Move to Earn Crypto: The Next Trend of The Blockchain Industry?
Technology creates various earning opportunities for investors, particularly in the world of cryptocurrency and blockchain technology. Move to earn crypto is a popular trend that includes a wide range of products and services that pay users for their participation. So, what is “move-to-earn,” how does it work, and can you really earn money? Continue reading to learn more.
Following the enormous success of play-to-earn games, move to earn is the new hot trend in the cryptocurrency world. In the majority of cases, users must pay a substantial sum of money to begin earning. However, under the right conditions, move-to-earn applications could offer an intriguing opportunity to generate income while also motivating users to increase their physical activity.
Simply moving around and getting paid? Really? This article will assist you in better understanding move-to-earn crypto. Let’s dive-in.
What is move to earn crypto?
Unlike play-to-earn projects, move-to-earn projects do not necessitate any initial investments. Instead, users are rewarded financially for traveling by foot, bike, or other means.
Move to earn (M2E) refers to blockchain and cryptocurrency projects that incentivize users to move in exchange for monetary rewards. Although move to earn is a niche market, the concept is sound. Instead of sitting in a chair or lying in bed all day, people should move around more to improve their health. Paying people to move around is one way to encourage them to do so. With today’s technologies, such as step counters, augmented reality, GPS, fitness trackers,… it’s relatively simple to keep track of activities and assign rewards for reaching certain milestones.
In September 2021, the Web3 lifestyle app STEPN coined and popularized the term move to earn crypto, which has since been used by a variety of other apps that reward users for their activity.
How players earn rewards
How these applications generate rewards vary from platform to platform, but almost all users are paid by native utility tokens for completing fitness-related tasks such as walking, running, or swimming.
This data is typically collected using a cell phone or fitness tracker before being uploaded to the move-to-earn app and evaluated to determine eligibility for rewards. Tokens earned can then be directly traded for goods and services within the app, or sold/traded for other cryptocurrencies on an internal marketplace or external exchange.
Aside from simply rewarding users, most move-to-earn crypto applications provide additional utility for their tokens, which increases demand for new participants while reducing selling pressure on third-party exchanges. This helps to keep the market value stable and the move to earn rewards worthwhile.
The number of move to earn crypto games has increased significantly in the last six months, and there are now nearly a dozen apps that reward users for being active.
Top move to earn crypto projects
Here are some of the best move to earn cryptos to keep an eye on
It is a Web 3 Lifestyle app and NFT game that rewards you for finishing workouts. The STEPN app employs move to earn NFT sneakers to track players’ outside movements using their mobile device’s GPS signal. Green Satoshi Token (GST) is the in-game utility token, while Green Metaverse Token (GMT) is the governance token for participating in the project’s development.
GMT tokens can be earned by walking, running, cycling, and other activities. The more you move, the more GMT you will be able to earn. GMT tokens can be used to purchase in-game items such as new avatars and upgrades. You can also use your GMT tokens to trade on exchanges or invest in other cryptocurrencies.
STEPN is a great move-to-earn game for those looking to get started with cryptocurrency, thanks to its simple interface and generous rewards.
Genopets, branded “the world’s first move to earn NFT game,” is a pet-raising game that allows you to earn GENE tokens by moving to care for your “spirit animal,” which evolves through your daily engagement. You can earn more GENE by taking better care of your pet.
The challenge is to upgrade your Genopet NFT by transforming your movement into GENE as you travel through the Genoverse. You can trade your NFTs for GENE or sell them to other players. You can also use your move to earn crypto to participate in competitions and leaderboards.
Genopets is a good move to earn game for anyone wishing to socialize and earn rewards for physical activity.
MetaGym is the first exercise in the Metaverse to earn a gym! It fits with a mobile app, a smartwatch app, and its own polygon-based cryptocurrency.
Users can earn MetaGym Coin ($MGCN) by performing cardio, logging health behaviors, and completing fitness challenges in MetaGym. You can use the currency to level up and purchase new NFT clothing, power-ups, and upgrades.
MetaGym allows you to earn cryptocurrency by completing various tasks. Cardiorespiratory training, strength and resistance training, and even getting enough sleep are examples of these. By completing all of your modalities, you can earn up to 100 $MGCN per day.
MetaGym has established a lucrative move to earn crypto opportunity that utilizes exercise, health, and community involvement to encourage the growth and success of each individual’s fitness journey, with the common aim of helping the world become a healthier place.
Step (STEP) is a move-to-earn project that rewards users for walking every day. It was launched in January 2022. The mobile app is presently available for download on iOS and Android devices, and it’s worth checking out if you want to start collecting rewards.
To begin, choose a SNEAKs NFT and use it as your workout gear to move and earn cryptocurrency. You can also buy non-Sneak items such as skins. You can compete in a cryptocurrency pool against friends or strangers.
Step App is a great way to earn money while working out because you’re not only getting paid, but you’re also having fun and competing with others.
Because move to earn apps are still in the early stages of development, their long-term investment potential is unknown. However, being active every day to improve your health while also earning money is a fantastic opportunity that you should not pass up. If you are thinking about investing in a move to earn crypto, we recommend that you conduct your own research by keeping up with market trends and news.
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