Move-to-Earn: An Analysis of An Innovative Crypto Earning Opportunity

Last updated on May 29th, 2023 at 11:21 am

The blockchain space offers numerous innovations with earning opportunities. Many popular blockchain projects are introducing ways to incentivize user actions. This can be done in various ways and varies significantly in terms of what the users are rewarded with.

The Play-to-Earn (P2E) gaming ecosystem is an excellent example in which individuals are rewarded for playing games and navigating the terrain. The rewards could come from participating in Player vs. Player or Player vs. Environment games. Players may earn returns in the form of native tokens, or NFTs, which they can trade on exchanges or marketplaces.

Moving around is good for you, and now it can be good for your wallet. A “user activity to earn” model, known as “Move-to-Earn,” is quickly gaining traction. Move-to-Earn is a novel concept that allows you to earn money for doing things you would normally do anyway.

It’s not just about earning money, though—it’s about making money while going about your daily activities. Individuals are rewarded for moving around by various means, such as running, jogging, exercising, or even driving.

This article analyzes the Move-to-Earn concept, providing insight into how it works and examining notable platforms that offer the feature.

What is Move-to-Earn?

Move-to-Earn is a relatively new aspect of the crypto space in which platforms reward users for moving around in the real world rather than in a virtual environment, as in Play-to-Earn games. In Move-to-Earn, individuals only have to move around in reality by walking, riding a bicycle, driving, jogging, or exercising.

In most cases, there is more to this technology than just moving around and earning coins. Like Play-to-Earn games, some platforms in the Move-to-Earn industry are incorporating decentralized financial elements into their architecture. Some allow their users to stake their tokens, provide liquidity, earn returns via yield farming, and much more.

Typically, the rewards earned on a Move-to-Earn platform have their use cases. Some can be converted into other cryptocurrencies via exchanges, and others may be accepted as payment by specific merchants.

How Do Move-to-Earn Platforms Work?

Some Move-to-Earn platforms are modeled after games, allowing users to earn returns in the game simply by moving around in real life. Some decentralized apps (dApps) may require users to purchase the native NFT to access the game, while others are free-to-play.

Users advance through the levels of a Move-to-Earn platform (which could be a virtual world or game) as they move around in the real world, though this varies by platform. Suppose they compete against others in the game. In that case, their chances of winning are determined by their level of activity in real life.

Some Move-to-Earn platforms offer Play-to-Earn gaming elements. For example, a player who wants to add extra details to their avatars can do so by moving around in the real world. They can compete in the virtual game by using the attributes of their avatars.

A Move-to-Earn platform may be designed solely for exercise, which may be to encourage more individuals to walk or run. Users are rewarded with tokens or NFTs based on their measured activity, which they can exchange for virtual or tangible goods in designated stores.

In another context, a Move-to-Earn platform could be designed to promote “green” energy use. In this concept, developers may create incentives for those who use environmentally friendly vehicles, such as electric cars, or who prefer to cycle to work rather than drive a fossil fuel car.

A Move-to-Earn platform is intended to reward people who prioritize healthy living by moving around regularly.

Top Move-to-Earn Platforms in 2022

Several decentralized apps offer exciting Move-to-Earn features, some of which are discussed below.

STEPN

StepN is one of the most popular Move-to-Earn platforms available, and its goal is to reward those who maintain a healthy lifestyle. It is built on the Solana blockchain and has taken the cryptocurrency world by storm.

Before they can earn the NFT sneakers, players are expected to buy them. Users can increase their earning potential by moving around frequently, i.e., running, walking, or jogging.

Step App

Step App is another Move-to-Earn platform that allows people to earn money by simply moving around. In the app, players can compete against one another in a friendly competition to earn rewards.

It is similar to its counterpart STEPN in that it encourages people to exercise. This app is designed to work with blockchain, augmented reality, and Metaverse technology.

The Dustland

Another Move-to-Earn platform is the Dustland, which incorporates a Play-to-Earn gaming element. In Dustland, gamers have to move around in real life to advance in the virtual game.

When they exercise, they receive DOSE, the game’s native token. For users to earn more, they have to run in real life. Increased movement translates to advancement in the game. DOSE, the native token, can be traded on exchanges or converted to fiat currency.

Sweatcoin

Sweatcoin has grown to become one of the most popular Move-to-Earn platforms, thanks partly to its Free-to-Play component. This is a fitness company whose app promotes healthy living by tracking the number of steps taken daily and rewarding users accordingly. Users are rewarded with SWEAT, a native token based on the NEAR network.

GenoPets

GenoPets is another Move-to-Earn platform that incorporates Play-to-Earn elements into its architecture, mirroring a player’s real-world activities to their progress in the game. Typically, the game monitors a player’s real-world activities, such as exercise, heart rate, sleep duration, and so on, and then rewards them based on these.

Players are expected to nurture virtual creatures based on their actual lifestyles.

Earning Opportunities In Move-to-Earn Platforms

The Move-to-Earn ecosystem offers a number of ways to earn money while interacting with dApps, some of which are outlined below.

Driving

Some Move-to-Earn platforms reward people who use electric cars and other environmentally friendly vehicles to get around daily.

The user could earn in-house tokens by simply driving around in a “green” car and logging their daily activities, which they could then exchange for other tokens on crypto exchanges or use to make purchases in the in-app marketplace.

Exercise

This is a major aspect of the Move-to-Earn ecosystem, as it involves individuals moving around by jogging, walking, or running. Players earn money simply by moving around. Usually, these individuals are rewarded with either tokens or NFTs. Players can use their earnings on a crypto exchange or in the in-app marketplace.

Staking

Another way to earn returns in the Move-to-Earn ecosystem is to stake the native tokens earned from the game. Some of these platforms offer staking rewards to users who bind the native tokens to the platform. This is feasible for platforms based on Proof-of-Stake networks.

Trading

Individuals can profit by trading in-game assets or tokens earned on Move-to-Earn platforms. They can earn returns by lending on DeFi platforms or trading these tokens against other tokens on centralized exchanges.

Minting

Users can earn returns by minting in-game assets, which are typically in the form of NFTs. These assets can be sold in marketplaces or utilized on the platform. The NFT’s value is determined by the asset’s attributes and floor price.

In Conclusion,

Move-to-Earn is a relatively new aspect of the crypto space in which platforms reward users for moving around in the real world rather than in a virtual environment, as in Play-to-Earn games.

Some Move-to-Earn platforms include elements of Play-to-Earn gaming.

Some Move-to-Earn platforms allow individuals to advance in a virtual world or game as they move in the real world.

Some Move-to-Earn platforms are designed solely to encourage physical exercise and healthy living. Players can earn rewards by simply jogging, running, or walking.