We are definitely approaching a full circle with the utility of NFTs. You would most likely have heard of play-to-earn and read-to-earn, but what of move-to-earn? This sounds new, right?
We will be exploring everything you need to know about this new disruptor in the crypto space and what makes it special.
What is Move-To-Earn–M2E?
Scientists have found that if you want people to participate more in an activity, you can start by providing an incentivized system. This is the same model these Web 3.0 products have been offering. Move-to-earn games specifically reward users with passive income as an incentive to engage in physical activity.
The M2E model was built after the foundation that play-to-earn games like Axie Infinity provided. Move-to-earn games illustrate the concept of combining fitness and blockchain gaming into a single product.
Because of the fitness aspect that m2e products promote, many people refer to them as FitnessFi, where "Fi" means finance. Hence, a short for Fitness Finance, following the example of other crypto terms like Defi, Decentralized Finance, or GameFi Gaming Finance.
While GameFi represents blockchain gaming in general, Move-to-earn games are a subset that focuses on rewarding users for being physically active. Some of the popular ones are StepN and Genopets.
Conventional vs. crypto move-to-earn games
Move-to-earn games did not begin in the crypto industry; rather, there are conventional games that reward players for participating in tasks that involve moving around, like Pokemon go. But move-to-earn crypto games reward players with blockchain-based rewards like NFTs or tokens.
Another distinguishing factor between conventional and crypto move-to-earn games is that while players in conventional games can receive in-game tokens, these tokens cannot be transfer out of the game platform for another purpose, but with crypto games, in-game assets can be transferred from one wallet to another and across different blockchains.
How move 2 earn games work
Play-to-earn games usually reward players for winning challenges, breaking new records, reaching new levels, and so on. On the other hand, Move-to-earn games provide incentives for players to engage in fitness-related exercises like walking, jogging, or swimming.
M2E games use different methods to reward users, but almost all compensate them using their native utility tokens. The information about their movements when walking, swimming, or cycling is often collected using a mobile phone or fitness tracker, then uploaded to the move-to-earn app and evaluated to see if it qualifies for prizes.
Tokens can then be immediately traded for in-app assets and services within the app. These tokens can also be traded for cryptocurrencies on an internal marketplace or transferred to an external exchange.
Most move-to-earn projects provide additional use cases for their tokens in addition to being used for rewarding users. This helps increase demand for new players and consequently reduces the number of people who sell off the tokens on crypto exchanges.
As a result, the market value is stable, and the value offered via the move-to-earn benefits remains significant. However, when the tokens' supply surpasses users' demand, it could cause the token's value to plummet, leading to a receding number of users.
Over the last couple of months, tons of projects have been launched featuring the move-to-earn model. Let's explore some of the most popular M2E games!
Stepn move-to-earn game
STEPN is top on the list of the best move-to-earn games in the crypto space. It was developed on the Solana blockchain and worked by providing users with Non-fungible tokens ( NFTs) sneakers. Users with the sneakers have access to play the game, and their movements are tracked using a connection to the GPS on their devices.
Rewards are distributed to players in the form of in-app tokens called Green Satoshi Tokens ( GST), which can be traded for Solana or USD Coin, providing users a way to earn passive income from the game. GST can also be used to mint new sneakers and repair or level up existing ones.
The platform has a governance token known as Green Metaverse Token (GMT), listed on several crypto exchanges and can be earned by StepN users at level 30 and above. StepN (GMT) is the major token that drove the popularity of move-to-earn coins in the last few months after parabolically appreciating over 24,500% since its launch on Binance.
Genopets
Genopets is the first move-to-earn crypto project ever created. It was created using the Solana blockchain network and focuses on rewarding fitness activities. The project is a role-playing game that works by allocating a generative NFT called a genopet to each user, which evolves based on how active the user is.
There are integrations in the game designed to save data such as heart rate, sleeping activities, and so on from users' devices and fitness apps like google fit, Fitbit, etc. The information collected is used to shape and evolve each user's NFT. Players can stake their NFTs and earn KI, the in-game currency, while GENE is the game's governance token.
Step App
Step App is a move-to-earn app built on the Avalanche network with a model that rewards active users for fitness activities. It has a close similarity to StepN, and it mirrors the majority of the features GMT provides. It's clear that Step App sneaker NFTs called Sneaks were inspired by StepN's sneaker NFTs, and it operates similarly.
On the Step App, users need to stake their Sneaks to earn the game's token known as KCAL. Like GST, KCAL can be used to buy new sneakers and upgrade for a better rewarding experience. Step App governance token, FITFI, is used for community-driven decision-making on the platform and is available across different exchanges.
Read Also: Terra-LUNA announces a recovery plan, "LUNA 2.0": Here is how it has performed so far!
Future of move to earn games
Move-to-earn games are currently the hype in the play-to-earn crypto gaming community strongly because of the influence of StepN in the first quarter of 2022. There are several other M2E games like Calo, Dose, and Dotmoovs, which feature the appealing features of improving health & fitness while earning passive income.
The blockchain gaming industry has rapidly evolved from play-to-earn games to several different types of games. As the space evolves, innovative projects that serve the community by providing good utility and earning potential will continue to thrive as demands build.
We are definitely approaching a full circle with the utility of NFTs. You would most likely have heard of play-to-earn and read-to-earn, but what of move-to-earn? This sounds new, right?
We will be exploring everything you need to know about this new disruptor in the crypto space and what makes it special.
What is Move-To-Earn–M2E?
Scientists have found that if you want people to participate more in an activity, you can start by providing an incentivized system. This is the same model these Web 3.0 products have been offering. Move-to-earn games specifically reward users with passive income as an incentive to engage in physical activity. The M2E model was built after the foundation that play-to-earn games like Axie Infinity provided. Move-to-earn games illustrate the concept of combining fitness and blockchain gaming into a single product. Because of the fitness aspect that m2e products promote, many people refer to them as FitnessFi, where "Fi" means finance. Hence, a short for Fitness Finance, following the example of other crypto terms like Defi, Decentralized Finance, or GameFi Gaming Finance. While GameFi represents blockchain gaming in general, Move-to-earn games are a subset that focuses on rewarding users for being physically active. Some of the popular ones are StepN and Genopets. Conventional vs. crypto move-to-earn games Move-to-earn games did not begin in the crypto industry; rather, there are conventional games that reward players for participating in tasks that involve moving around, like Pokemon go. But move-to-earn crypto games reward players with blockchain-based rewards like NFTs or tokens. Another distinguishing factor between conventional and crypto move-to-earn games is that while players in conventional games can receive in-game tokens, these tokens cannot be transfer out of the game platform for another purpose, but with crypto games, in-game assets can be transferred from one wallet to another and across different blockchains.
How move 2 earn games work
Play-to-earn games usually reward players for winning challenges, breaking new records, reaching new levels, and so on. On the other hand, Move-to-earn games provide incentives for players to engage in fitness-related exercises like walking, jogging, or swimming. M2E games use different methods to reward users, but almost all compensate them using their native utility tokens. The information about their movements when walking, swimming, or cycling is often collected using a mobile phone or fitness tracker, then uploaded to the move-to-earn app and evaluated to see if it qualifies for prizes. Tokens can then be immediately traded for in-app assets and services within the app. These tokens can also be traded for cryptocurrencies on an internal marketplace or transferred to an external exchange. Most move-to-earn projects provide additional use cases for their tokens in addition to being used for rewarding users. This helps increase demand for new players and consequently reduces the number of people who sell off the tokens on crypto exchanges. As a result, the market value is stable, and the value offered via the move-to-earn benefits remains significant. However, when the tokens' supply surpasses users' demand, it could cause the token's value to plummet, leading to a receding number of users. Over the last couple of months, tons of projects have been launched featuring the move-to-earn model. Let's explore some of the most popular M2E games!
Stepn move-to-earn game
STEPN is top on the list of the best move-to-earn games in the crypto space. It was developed on the Solana blockchain and worked by providing users with Non-fungible tokens ( NFTs) sneakers. Users with the sneakers have access to play the game, and their movements are tracked using a connection to the GPS on their devices. Rewards are distributed to players in the form of in-app tokens called Green Satoshi Tokens ( GST), which can be traded for Solana or USD Coin, providing users a way to earn passive income from the game. GST can also be used to mint new sneakers and repair or level up existing ones. The platform has a governance token known as Green Metaverse Token (GMT), listed on several crypto exchanges and can be earned by StepN users at level 30 and above. StepN (GMT) is the major token that drove the popularity of move-to-earn coins in the last few months after parabolically appreciating over 24,500% since its launch on Binance.
Genopets
Genopets is the first move-to-earn crypto project ever created. It was created using the Solana blockchain network and focuses on rewarding fitness activities. The project is a role-playing game that works by allocating a generative NFT called a genopet to each user, which evolves based on how active the user is. There are integrations in the game designed to save data such as heart rate, sleeping activities, and so on from users' devices and fitness apps like google fit, Fitbit, etc. The information collected is used to shape and evolve each user's NFT. Players can stake their NFTs and earn KI, the in-game currency, while GENE is the game's governance token.
Step App
Step App is a move-to-earn app built on the Avalanche network with a model that rewards active users for fitness activities. It has a close similarity to StepN, and it mirrors the majority of the features GMT provides. It's clear that Step App sneaker NFTs called Sneaks were inspired by StepN's sneaker NFTs, and it operates similarly. On the Step App, users need to stake their Sneaks to earn the game's token known as KCAL. Like GST, KCAL can be used to buy new sneakers and upgrade for a better rewarding experience. Step App governance token, FITFI, is used for community-driven decision-making on the platform and is available across different exchanges.
Read Also: Terra-LUNA announces a recovery plan, "LUNA 2.0": Here is how it has performed so far!
Future of move to earn games
Move-to-earn games are currently the hype in the play-to-earn crypto gaming community strongly because of the influence of StepN in the first quarter of 2022. There are several other M2E games like Calo, Dose, and Dotmoovs, which feature the appealing features of improving health & fitness while earning passive income. The blockchain gaming industry has rapidly evolved from play-to-earn games to several different types of games. As the space evolves, innovative projects that serve the community by providing good utility and earning potential will continue to thrive as demands build.