Move To Earn Crypto Projects

What Is a Move To Earn?

Another pyramid or the future of the global economy: what is move-to-earn and how much cryptocurrency can you earn while walking? The concept of move-to-earn (M2E, Move to Earn) is a new phenomenon spreading in the crypto world. 

How Does M2E Work? 

Move to earn crypto platforms offer people to earn money through their physical activity: you can receive tokens and cash them out for skating, cycling or football freestyle. But in order to do it users first  need to invest their own funds. Some analysts consider move-to-earn games to be a pyramid scheme. Others argue that top move to earn applications are the future.

What Are the Most Prominent Move to Earn Games? 

The most popular app in this genre is the NFT game STEPN, which gives the user the opportunity to earn while jogging and walking. To register and start earning via the application, you need to buy a pair of NFT sneakers.

STEPN, like any other blockchain game, has its own features and disadvantages.First of all, this application bribed many investors with a fresh and interesting idea that was well implemented, as well as the ability to quickly recoup their investments and get decent stable rewards. 

Besides that, STEPN played no small role in popularizing the crypto space and, one might even say. In other words, many of those who have never used blockchain services before, thanks to the STEPN application, now know how everything works and that anyone can earn money with crypto.

STEPN, with its earnings on NFT sneakers, has become so popular, not only on the Internet, but also offline, that certain people have already begun to open consulting points, with the help of which they help beginners to register in the project for a small fee. They help to choose sneakers, and explain how to convert the earned cryptocurrency into fiat money.

However, due to miscalculations, not ideal marketing and a number of other reasons, the STEPN game began to lose its former popularity and the payback period began to change, and not for the better. If earlier it was possible to recoup investments in some 30-40 days, then later it could take at least six months, or even a year.

And all because STEPN is essentially a financial pyramid (although many people reject this fact), where earnings directly depend on the influx of new users. It’s just that there have been problems with their influx lately, and there are at least 2 reasons for this:

On the territory of China, a ban was imposed on the use of the STEPN application, and from there came the bulk of registrations and large investments;

With the development of the project, the entry threshold for new players is constantly increasing – for a pair of NFT sneakers you need to pay at least $ 1,400, which is simply not affordable for many.

Actually, that is why many users began to think about finding more affordable options (analogues) of STEPN, which would allow them to play and earn at lower costs, and possibly even without them, i.е. is free.

The tremendous success of the STEPN application prompted developers to create a huge number of analogues and even copies. There are really a lot of people who want to enter this niche and snatch their piece of the pie, but few of them try to create high-quality, unique and perfected games. 

Most of STEPN's analogues are full copies of it, made on the knee, or, in other words, second-rate products that quickly scam, and, as a rule, even before the release. Therefore, the choice of a move to earn crypto project for making money should be treated as responsibly as possible. Before investing it is worth carefully reading all available articles on DappRadar.  In other words, investing in the first project that comes across will not be the best idea.

In one M2E game, you can earn tokens by riding a skateboard, while another M2E game allows you to compete with other players in running, cycling, and swimming.

Another project, Genopets, is something like a Tamagotchi, only on the blockchain. First you have to buy a virtual animal. It gradually pumps (that is, becomes more expensive) depending on the daily physical activity of the user (jogging, cycling or dancing). The main source of income in this game is the sale of "pumped" pets.

On another platform, you can compete in football freestyle and get cryptocurrency for the victory. To do this, you need to shoot videos that demonstrate the skills of the user.

One Canadian company has developed virtual workouts. The user is engaged on an exercise bike, thus controlling his character in the game. Activity is tracked by “smart” pedals, and joysticks are built into the “steering wheel”. The trainer connects to a smart TV and is compatible with VR headsets. Playing, you can earn up to $30 per month.

What Are the Prospects for M2E Games

STEPN is by far the most successful, but far from being the only move to earn crypto project on the market, and soon we will see many new applications similar to it, with the help of which it will be possible to have decent earnings, both with investments and completely free.

Of course, not all of them will be limited to running alone, developers will try to gamify various sports in order to somehow stand out from the competition, give users the opportunity to diversify their workouts and encourage them to use not one, but several applications at once. But in general, all projects will adhere to the main idea – to motivate people to lead an active lifestyle and allow them to monetize their physical activity and fitness endevours through getting in-game tokens or cryptos. 

Some analysts question the financial viability of M2E and P2E games. In their opinion, this is nothing but a pyramid scheme. Such applications do not create added value, and all payments to users for running or other activities are made from monetary replenishment from new participants who buy NFT sneakers or NFTs characters.Those who do not have time to "go into the black" may lose all their investments if the project by this time ceases to receive a sufficient amount of financial injections (new users), skeptics warn.

As with any startup, it is important for new Move-to-Earn projects to ensure the long-term sustainability of monetary incentives, which means that developers must generate income.

This is one of the shortcomings of the new industry today. There are no signs of revenue sustainability for either developers or users. Moreover, many projects limit the number of people who can join, creating artificial and unnecessary barriers. In general, the idea of paying for physical activity is attractive, but there is still a lot of work to be done in this industry today.

Other experts call the move to earn crypto projects the real future of the digital world. Their promise is supported by the fact that the largest companies, such as Meta and Microsoft, have undertaken to develop metaverses where all these applications and games can be integrated. In addition, the value of assets in virtual worlds directly depends on how many users believe in their value, which gives an almost endless potential for development, analysts say.

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