Until recently, the idea of making millions with little effort seemed unrealizable. With the advent of a unique Move-to-Earn (M2E) model, users got the opportunity to earn money by simply walking, playing games, and doing other types of physical activity. How realistic this earning model is, we will find out in this article.
What Is Move-to-Earn (M2E) All About?
Games based on the Move-to-Earn model began to enter the cryptocurrency market. The main task of the development is to motivate users to lead an active lifestyle. The difference from the Play-to-Earn model, which attracted millions of gamers, is in focus on health. Healthy lifestyle lovers will certainly appreciate the idea because they will be able to receive cash rewards for daily jogging or playing sports.
Move-to-Earn games are easy to install on smartphones. With the help of GPS, the device tracks the route of users’ movements or their other physical parameters (speed, pulse, pressure, etc.). Tokens are credited to players’ internal wallets for completing different tasks. There are several options for spending these digital assets. For example, users can expand the app’s functionality, increase the rate of accrual of coins, or swap a certain amount for stablecoins.
How to Make Money on Move-to-Earn?
The popularity of Move-to-Earn games is growing rapidly. For example, the number of downloaded StepN apps at the beginning of 2022 exceeded 3 million. The excitement around Move-to-Earn projects is caused by the opportunity to earn a new governance token GMT (Green Metaverse Token). The quotes of the digital asset have increased 25 times since its issue. Today, the cost of one coin is $1. Large investors (Folius Ventures, Sequoia Capital, etc.) have invested in the project, so the value of the GMT token will grow in the future.
The popularity of M2E can be attributed to the crisis of ideas in the GameFi space. Play-to-Earn projects have become boring, so users have paid attention to developments for healthy lifestyles. Now they seem more promising and profitable. There are no restrictions on earning — users can walk all day, which will only increase their income. If desired, users can spend tokens on upgrading an account (acquisition of bonuses, advanced features in the game, additional tools, etc.) or withdraw them to a personal wallet and then sell them on a cryptocurrency exchange.
How Much Money to Invest in Move-to-Earn?
Investing in GameFi is always risky — the game may introduce limits on withdrawal of funds, token quotes may collapse, and even the project may close. However, potential issues do not scare fans of the crypto industry. They willingly buy game equipment and purchase paid functionality of apps. Still, you won’t be able to get rich on Move-to-Earn right away. Rather, it is a rewarding hobby that will bring additional income and a sense of inner satisfaction from achieving physical activity goals in the long run.
Let’s talk about the possible amounts of earnings on M2E using the example of the popular STEPN app. It allows you to earn money on runs, but this requires virtual sneakers. As soon as the project entered the market, the price of this accessory was $500-600. But with the influx of users, the cost of the product jumped to $1200-1400. In the future, the price will rise. A typical user can earn up to 30-150 GMT per day by completing tasks in STEPN.
Read Next: How to Play STEPN NFT Game: Ultimate Guide for Beginners 2022
Best Move-to-Earn (M2E) Projects in 2022
The number of apps built on the Move-to-Earn concept is gradually increasing. Let’s analyze the most popular ones in more detail!
STEPN became the leader in the field of M2E projects. As mentioned earlier, the app tracks a running distance using GPS and special NFT sneakers. Each model has its own unique characteristics. The differences are in terms of the energy scale, the level of comfort, and wear. The higher the indicated properties, the more earnings the sneakers will bring to their owner. The project operates based on the Solana platform. You can purchase the necessary accessories to complete tasks using a SOL token, but the reward will be accrued in the internal STEPN cryptocurrency (GMT).
If you’re wondering where to buy some SOL tokens, you should definitely think about doing it at Switchere. On our platform, you have an opportunity to buy SOL in the fastest and most convenient ways using any available payment method. Moreover, we offer some surprising bonuses! Users of our platform enjoy a 0% service fee for the first order.
The Biken project is based on the Ride-to-Earn concept and is suitable for lovers of cycling. The principle of operation is similar to STEPN. Still, a virtual bike is used here instead of sneakers. The game provides three main modes: daily trips, training, and exploration of new routes in the location. The project started on April 8, 2022, so the cost of an NFT bike did not have time to skyrocket — the standard model price varies between $300-400. Rewards are paid in the internal cryptocurrency projects BKN. If the project attracts investors and users, the cost of BKN will definitely skyrocket.
The M2E project Genopets has its own universe, many characters, and an active marketplace. This is a kind of World of Warcraft analog, where users select a hero and then upgrade them. A virtual pet Genopet becomes a spirit animal, and its development with gaming success depends on the physical activity and intellectual or analytical abilities of its owner. The intensity of exercises determines the level of the hero’s abilities. The average cost of an egg from which a character subsequently hatches is now $500-600. After upgrading, the price of a character increases many times and can reach several thousand dollars. Some users use the Genopets project on a commercial basis, selling heroes on specialized platforms.
The Dustland universe is a post-apocalyptic world. A feature of the project is tasks of physical activity, which must be performed under certain audio accompaniment (music, educational material, etc.). The project started at the beginning of 2022, so the required in-game equipment is still provided free of charge. The number of completed missions directly affects the payment of rewards, which are credited in an internal DOSE cryptocurrency. The token can be used to upgrade a character or withdrawn to a special wallet.
Move-to-Earn games are an innovative trend in GameFi today. They allow you to earn cryptocurrency through physical activity. Some developments have already gathered a multi-million army of fans and have great development prospects. Thus, today, you can receive digital assets and other bonuses while just walking or jogging.
Do you play Move-to-Earn games? Feel free to share your experience in the comments below!
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