Move to Earn is the new trend in 2022, which gamifies daily physical activities and gives players chances to get NFTs or tokens. It’s leveraging motion-sensor technology to create a new GameFi niche that rewards customers for being active. Players can earn in-game currencies that can subsequently be exchanged for real-world fiat currencies as the move-to-earn paradigm shifts to crypto, delivering actual benefits for their engagement rather than merely paying to play a game.
Getting to know exactly how Move to Earn (M2E) works as well as the pros and cons would give businesses’ decision makers more points of view about investment opportunities in the future. If you're interested in it, stay reading and let SENS open the door to upcoming potentials that companies can benefit from.
Move to Earn helps users to earn money with body movements using sensor technology to measure motion. M2E is the combination of GameFi (play to earn) and SocialFi (using decentralized social media to earn) as well as Fitness Apps, with the goal of motivating users to eliminate a sedentary lifestyle to change for a healthier one.
Looking back in the last few years, a movement-based mobile app game called Pokémon GO. It motivates players to travel to find out the characters or to earn rewards. Similarly, M2E requires users to participate in more outdoor physical activities such as soccer, running, etc. but has an appealing feature that allows them to earn rewards such as tokens or rare items.
Features of Move to Earn products in the market
NFT, Marketplace: Following market trends, Move to Earn initiatives leverage the NFT mechanism and their own marketplace to enable participants to purchase and sell products quickly and efficiently.
Gameplay: The focus of Move to Earn is on converting everyday motions into valued gifts like STEPN and Genopet.
Sensor technology: Sensor technology is utilized to give gifts to the right winners. This technology is not only for gameplay but also used to prevent cheating from gamers.
Life-friendly level overcomes the disadvantages of traditional games: With Move to Earn, it is stated that playing games for money is not about being glued to a screen 24 hours a day, seven days a week. Players can both breathe fresh air and increase their physical fitness while attaining their lucrative rewards. It's true that one arrow can hit two different targets.
Benefits of applying Move to Earn (M2E) in crypto
Combining with NFT
Move to Earn (M2E) is not a new concept as applications allowing to convert calories burned into rewards and practical presents in life are easily found on App Store or CH Play with the keyword “play to earn". NFT (Non-fungible Token) is unique and irreplaceable, so it is considered to represent different kinds of valuable items. When every item has its own story thanks to merging NFT with GameFi, its value will also increase.
Profit and capital return opportunities
GameFi attracts players because the game players will receive their initial capital back along with profit gaining in a short period of time. The more times users make an effort to go outside, the more money they earn.
Gamers are willing to invest a great deal of money and become a usual player when the optimum fraud control management system is well deployed. Moreover, the development team's passion for the project matters to maintain games’ quality and affect users' long-term decision-making.
The Move to Earn (M2E) trend is generated by the integration of GameFi and NFT, so the game players can make their physical bodies worthy of NFTs. There are 3 main characteristics of owing Move to Earn crypto:
Permanence: The NFTs will be safely and permanently placed on the networks of blockchain with all the information contained.
Uniqueness: The information which is contained in NFTs is unique and fixed to distinguish from other tokens.
Possessiveness: Game players have full discretion on the virtual items in the form of NFT.
The Own Potential of M2E
Approaching new markets
The Move to Earn trend encourages crypto traders to go round and do physical activities. However, health-related problems are what humans will face in some periods of time, so Move to Earn can approach non-crypto users via health support applications.
Move to Earn sees its own potential in the GameFi industry, as well as beyond it, in the Metaverse. It can start motivating fresh users via 10-minute exercises, then applying in sports events by the applications of blockchain technology. For that reason, it is getting simpler to grasp the terms of blockchain, NFT or Move to Earn for everyone.
Interoperable NFTs are tokens which can be traded across multiple platforms. They create opportunities for users to buy and sell virtual items through different games in the same blockchain networks.
Move to Earn - The Challenges
Users are decreasing
The number of game players has reduced recently due to the market downtrend and token inflation. As a consequence, businesses can focus on profit and return of capital, which are the most crucial aspects for users when selecting a blockchain-based application.
The ownership and high value of crypto can prevent potential customers or non-crypto users from joining the games. The model of traditional games can help to lead users to play the games step by step and get familiar with the way blockchain products work.
The majority of GameFi games urge players to collect stuff in order to maximize earnings, hence there is a lot of rivalry because they all look the same. As a result, customers are looking for game-changing items that meet both picture and technological needs
Top 6 Potential Move to Earn Projects 2022
STEPN is typically representative of this trend, a healthcare application with GameFi factors built by Satoshi Lab on the Solana blockchain ecosystem. Its first beta was released last December. STEPN players use NFT shoes to participate in running activities in real life under control of GPS and sensor technology.
When playing STEPN, you will be given a certain amount of Energy to M2E (Move to Earn), this energy will be restored by 25% every 6 hours. Depending on the number and type of shoes you own, STEPN will give you the corresponding amount of Energy.
With certain types of shoes with high rarity, you will be given a few extra energy to play:
A pair of STEPN Runners is available for as low as 9.5 SOL ($900).
One workout costs 2 Energy → Run 20 minutes/day and get 12 GST ($40).
One training session will reduce the durability of the shoe by 5, the repair cost is about 2 GST ($7).
You can earn about $33/day running with STEPN → Approximately 28 days payback.
Although the initial investment for NFT shoes is quite high, the income from STEPN at the moment is quite attractive and the payback period is not too long. That is also the reason why this application is becoming more and more “hot” and is considered a new trend in the GameFi world.
Genopets is the Move to Earn project in which game players take care of virtual pets in the forms of Free to Play and Move to Earn. The users will be tracked via electronic devices to upgrade their pet fighters for XP rewards.
The project has issued the GENE token – the project’s governance token. When compared to Stepn, GENE is still quite modest when Marketcap is only 44M and FDV (Fully Diluted Valuation) is only about 400M. This would be a decent investment option if people have missed Stepn.
Genopets will have two main NFTs: Genopets and Habitat. Genopets Genesis is currently being offered in batches of 3,000 with a Floor Price of around 20 SOL (USD 2,000), which is pretty pricey at the present and quite dangerous for those of you with limited funds who want to participate in the project.
Also, Habitat is another NFT made from Genopets Crystals. In comparison, Habitat is more valuable than Genopets because Habitat is the key needed to participate in the Play-to-Earn process.
Olivex is deployed based on blockchain technology to bring to users a fitness application. It has also developed Dustland Runner (running application) and Dustland Rider (cycling application) with the use of Bluetooth and sensor technology.
The Olivex project has only one token used for all the applications the project is building: the DOSE token.
Up to now, the Olivex project is the only project that follows the Mono token mechanism in the Move to Earn projects. This can be a gamble. While there is a lot of value to be created from a variety of apps, the project will have to deal with inflation once the games launch and allow users to use the Move to Earn feature.
With a relatively small Markcap of 11M$, this is also a potential token if you want to participate in this project
DEFY is a project that combines Metaverse and Move to Earn. This project has a really solid and fascinating plot; players will take on the role of the villain and attempt to destroy the Future System. All of these facts will be updated based on the real-world address you use.
The project is in the finishing stage and is about to launch Alpha Launch. In the near future, there will be many investment opportunities with the project such as the sale of Genesis Mask NFT, Land and IDO events.
Metz is a new project raising $700,000 through Community Funding. Not much is known about the project at the moment, but it looks like the project will have a lot in common with Stepn and Genopets when it comes to rewarding users with tokens and NFTs along with nurturing its NFT (Metz). Besides, there are many investment opportunities for everyone such as IDO, IGO, Airdrop, etc.
Fitmint’s development is similar to that of STEPN. These projects may be noticed in a short time and we can earn some investment opportunities as Fitmint is expected to sell NFT in mid-April.
We are at the beginning of this new crypto trend and Move to Earn is probably worth investing your money in this journey.
SENS is a full-stack software development company, specializing in offering digital business solutions by leveraging cutting-edge technologies, with extensive experience of being the trusted partner for SMEs, Startups and Entrepreneurs from Europe, America, Australia and all over the world.