A concept to generate passive income?
Blockchain is not exclusive to the financial sector. This technology is used in many other areas, some more surprising than others, such as the blockchain – fitness combo. Blockchain developers have sniffed out the opportunities that the fitness industry can offer. They have exploited the vein by offering ad hoc dApps (decentralized applications): Move-to-Earn. The principle is simple. Thanks to M2E platforms, users can earn cryptos, just by practicing physical exercises.
Move-to-earn includes a variety of products and services that compensate users for ” to move “. Thanks to a Move-to-Earn dApp, the user creates an Avatar that counts his efforts. As the user runs, walks, swims, or performs any other game-related physical activity, their Avatar evolves.
This interaction between the user and his Avatar creates a dynamic of movement towards profit. The more the user moves, the more tokens he earns. Beyond cryptos, players can also engage in other related activities such as staking, NFT minting, speculations or Yield farming.
A relatively recent movement
The Move-to-Earn concept is relatively new. The Lympo platform, launched in 2018, is one of the first on the market. It wants to encourage people to adopt a healthier lifestyle through sport, walking, etc. It’s not new. What is, however, is to offer a product based on the blockchain.
The movement was truly popularized with the launch of StepN in September 2021. The release of the platform was accompanied by hype around its token which went parabolic. This is the beginning of the craze. Platforms are multiplying, each with their own way of rewarding users. Either way, most use their native token.
Some Popular Move-to-Earn Platforms
As of this writing, StepN is by far the most popular Move-to-Earn platform. The game is built on the Solana blockchain. Users can use Solana (SOL) crypto to buy StepN products on its marketplace. But for winnings, players receive the platform’s native token, Green Satoshi Tokens (GST).
There’s also The Dustland, born from the collaboration between Animoca Brands, a Hong Kong-based mobile games company, and the gamified fitness ecosystem OliveX. DOSE is the buy, utility and action token at the heart of this platform. Genopets (built on the Solana blockchain), Sweatcoin (a project founded in 2018) or Step (launched in January 2022) are all well-known platforms.
There’s more than one reason to get excited about the Move-to-Earn movement. The dApps are based on the success of activity trackers whose phenomenal success is not to be proven. It’s solid. Moreover, the concept appeals. Earning crypto by taking care of yourself is necessarily a challenge. With user enthusiasm, more and more investors are flocking to M2E projects. The year 2022 is clearly shaping up to be a flourishing year for the movement and analysts agree that this success will be a long-term one.
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