Burn calories and earn free Crypto: Welcome to the Move-to-Earn!
What is the easiest way you’ve ever made money?
A lottery ticket that you randomly bought? A free gift from a family member? Or a free voucher that you won from your favourite vendor?
Money is not easy to come by but this doesn’t mean that there are no simple ways to make it. What if we told you that there’s an easy way to make passive income by embarking on daily exercises.
You’d be like no way!
Welcome to the amazing world of Move-to-Earn, a blockchain concept that seeks to not just reward users with cryptocurrencies, but also increase their lifespans simultaneously.
What is Move to Earn (M2E)?
In technical terms, M2E are non-fungible token games that incentivize and reward users in cryptocurrencies for using their muscles and real-life physical powers.
This concept is a spin-off from the Play-to-Earn model — where you play games to earn money. Unlike Play-to-Earn, M2E takes this approach to the next level ensuring that you benefit from taking part in physical exercise activities.
Simply put, you ‘earn’ tokens — a token is a cryptocurrency built using blockchain technology — from ‘exercising’.
What’s behind the hype?
M2E became popular in 2021 following the success of a crypto platform called STEPN. STEPN introduced a new idea where you could complete fitness-related activities — such as walking, running or swimming — and receive its token called GMT.
These activities are tracked using a cell phone or fitness tracking watch and the data is uploaded to the M2E platforms to see if it qualifies for rewards. Once verified, the rewards are deposited in the user’s wallet in the form of tokens.
Initially, many people thought M2E was an unnecessary concept and STEPN would fail. However, this proved to be false as the GMT token rose by almost 24,500% in four months.
Imagine getting $100 worth of free GMT at the time for exercising and watching it grow to $24,500 within a few months. This is why M2E is a game-changer and it’s still early days.
How does it work?
Currently, there are more than twenty M2E platforms offering rewards to users that engage in physical activities. The general idea is that each platform provides different exercise activities for users to partake in.
For example, some platforms offer a daily walking challenge where you’re required to take 10,000 steps to earn rewards. Other platforms offer more rigorous exercise activities like swimming and jogging challenges.
Each platform has a mobile tracking app that records the number of steps taken daily.
After completing a milestone, you submit your entry to the M2E platform which verifies your data and releases the reward to your wallet.
How do you participate in M2E?
Different platforms have their requirements before you begin to earn. For example, STEPN requires you to purchase a pair of NFT sneakers to start earning. However, each pair of sneakers costs about $1,000.
Sweatcoin, an alternative, is free to register but does not have its token listed on any popular crypto exchange. This means that you’ll have to wait for long periods to convert tokens earned on its platform.
Therefore you need to consider your options before committing: you either pay an initial fee to join popular M2E platforms with established tokens or join free platforms that may take time to blossom.
Is it worth your time?
Many of us find it difficult to exercise, either due to busy schedules or lack of motivation. Think of M2E as a win-win scenario — you stay healthy and also fill your wallet with money.
However, like most blockchain concepts, the early birds seem to eat the fattest worms. This is because earning automatically becomes less lucrative as more people come on board. Nevertheless, M2E can still be profitable.
Some M2E platforms to consider
If you’re interested in joining the Move to Earn movement, here are a couple of major players to consider.
- STEPN: The number one M2E platform at the moment. STEPN offers a large number of NFTs that you can convert into precious cryptocurrency for every calorie you burn.
- Has a very active community of users.
- Easy to earn tokens for physical activities.
- Dominates 40% of the M2E market.
- Very expensive to join. Sneakers NFTs cost around $1000.
- Step App (FITFI): The second best thing in the M2E movement. Step App is global at the moment with users across the world participating in a range of enjoyable, fun exercises to earn tokens.
- Has a growing community of users.
- Less expensive to join compared to STEPN.
- Offers a wide range of sporting activities.
- Offers limited daily rewards when compared to STEPN.
- SweatCoin: This platform differs from others on the list due to the fact that it is free. Yes. Free. At the moment, Sweatcoin is still an app but their cryptocurrency launches in July.
- Free to use.
- Available on multiple devices (Android, Windows, and iOS).
- Multiple exercise options are also available to users.
- Tokens cannot be withdrawn outside its platform.
Move-to-Earn is definitely an exciting prospect that you have to try out to reap the full benefits. Have the mindset that you can have fun exercising while earning at the same time and you’ll experience the full value of M2E.
And if you feel discouraged or intimidated, remember that health is indeed wealth thanks to the blockchain.
If you enjoyed learning about the amazing opportunity called Move-to-Earn, share this newsletter with a friend or two so they can make good use of the calories they burn daily.
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