You always hear it – staying fit should be a priority in your life because it plays a role in maintaining good health. However, many individuals have difficulty meeting their fitness goals – or even setting them in the first place- and give the excuse that they don’t have the time or energy to do it. But what if there was a way to earn rewards by exercising? You’d probably find it motivating. Well, lucky for you, this is now possible due to the move-to-earn concept.
Uncovering The Hype Around Move-To-Earn
Move-to-earn(M2E) has become increasingly popular in recent years, attracting a great number of players and developers in the market. But before we get into the popularity of this concept, we should first explain the concept. As its name suggests, move-to-earn allows users to earn rewards in the form of cryptos like Ethereum by getting their bodies to move in whatever ways they prefer, whether walking, dancing, running, jogging, etc. When learning how to buy ethereum, you will find out there other methods available besides using an exchange. An M2E app works similarly to a fitness tracker, monitoring your physical activity and rewarding you with cryptocurrency. Incentivizing people to have a more active lifestyle isn’t a new concept – for quite some time already, companies have given employees vouchers, discounts and other similar rewards for participating in fitness activities.
However, M2E is different in the way that it leverages two of the greatest technologies – blockchain and cryptocurrency. With move-to-earn, you can boost your health as you make money (now, how great is that?). The Web3 lifestyle app, STEPN, coined the move-to-earn term in September 2021, and other apps have adopted it over time. Move-to-earn apps provide utility for users’ tokens, increasing participants’ demand and decreasing the selling pressure that third-party exchanges experience. As a result, maintaining the market value becomes easier while also keeping move-to-earn rewards as lucrative as possible.
The appeal of M2E games is due to their intuitive mechanics, user-friendly interfaces, and obviously, the opportunities to earn rewards that it provides to players. Moreover, the interactive technology of M2E games also adds to the hype around them. Since they are based on AR and VR, move-to-earn games can create an unparalleled immersive experience for players.
Distinguishing Move-To-Earn From Play-To-Earn
Play-to-earn (or P2E) games enable you to earn points for everything you progress in the game, whether by reaching a new level, defeating an opponent or exploring the play space. On the other hand, move-to-earn apps collect the data on your mobile device to track your movements and reward you once you complete your fitness sessions. In other words, play-to-earn games give you rewards based on your accomplishments in the game, while for the M2E model, the rewards are based on your physical achievements.
Similarly to P2E games, some M2E apps can be used for free, while in some cases, you have to buy one or more NFTs if you want to participate. Fitness-based M2E isn’t just beneficial for individuals but also for organizations, saving them money by reducing employee absences due to health conditions. Due to this reason, M2E can potentially reach out to a larger market than P2E.
How Profitable Are M2E Games, Really?
It’s likely pretty clear what the idea behind the M2E concept is: to enable people to make profits from having an active lifestyle. And while it’s true that many users indeed succeed in making substantial earnings from exercising, there are a few factors that can determine the outcome:
The activity level. Since rewards are given according to the amount of time you spend working out, naturally, those who are most active will achieve more profits.
The initial investment. When using a move-to-earn app, you must make an initial investment using a utility token or NFT. Rare NFTs provide greater opportunities for rewards while ensuring it takes less until you achieve a positive ROI.
Price action. M2E apps can either be incredibly lucrative or unprofitable – there’s no middle ground. This depends on the reward token’s price action, so if you want to make the most out of your M2E experience, it’s recommended to opt for tokens with strongly bullish price action.
Saturation. M2E games reward users with only a fraction that’s part of a fixed reward pool. These rewards are usually distributed based on users’ performance or a fixed per-person cap. Hence, the rewards for each user decrease as more users participate in M2E.
Transforming The Future of Fitness With M2E Apps
Fitness goals are important, and although most individuals are aware of this, they still aren’t able to commit to it. This often happens due to their busy schedules, but insufficient motivation also plays a role in it. Just as with anything else in life, staying focused on your fitness goals can be challenging when you don’t have any motivation. And this is especially true if you lack intrinsic motivation. If you aren’t exercising for your own satisfaction, it will obviously be much more challenging to stick to it. Here’s when extrinsic motivation can help by offering you rewards for staying active.
It’s no secret that people have been skeptical of the potential of crypto, and this is also true for M2E since they are all concepts of the same market. But move-to-earn isn’t just a fad – instead, it’s an innovative approach that has the potential to contribute to the overall welfare of society. As more users embrace the M2E model, this will contribute to the popularity of the blockchain and crypto landscape, so it’s a win-win situation. What’s great about M2E apps is that they also invite people to join a community and participate in competitions to get rewards.
The move-to-earn landscape offers different projects to fit users’ preferences and ensure everyone can meet their fitness goals. And apps like Sweatcoin have seen exponential growth throughout the years, creating a community of active users who remain consistent in their journey towards achieving better health and making some extra money. Although move-to-earn apps have great potential, it’s still important to remember that investing in this sector comes with some risks, so it is essential to conduct your due diligence and practice caution when participating in M2E.
