Move-to-Earn is a unique idea that allows users to get virtual money for doing things in the real world. To do this, they need to “link” their account to a mobile device.
How does Move-to-Earn NFT work?
The Move-to-Earn platform, also known as M2E, is a new way to attract customers that gives them NFTs as a reward. In 2021, M2E was first shown on a Web3 lifestyle app called STEPN.
M2E is also a popular idea that lets people earn money by moving their bodies, like walking, running, dancing, playing, and more. This mechanism has been getting much attention lately because it can connect the real and virtual worlds. Also, the Move-to-Earn NFT mechanism takes advantage of the biggest problem with the Play-to-Earn (P2E) mechanism: players must spend more time on their phones.
Why is Move-to-Earn NFT the most popular trend?
The idea behind Move-to-Earn is not new, but the way it works is. And the early growth of NFT led to the development of P2E games, which turned people’s free time into money. Move-to-Earn games could be the result of long-term health problems that the P2E mechanism could cause. It gives people the chance to get paid to exercise, which most people wouldn’t do even if they knew it was good for them.
As more people realize that NFT is going up, Move-to-Earn games have a better chance of succeeding and should take advantage of this. Also, some M2E games have reached the top of the charts because the community is moving toward these platforms. Because of this, the Move-to-Earn NFT platform is one of the market’s longest-lasting and most popular trends.
Move-to-Earn NFT Platforms that are popular
It is considered the most-used Move-to-Earn app so far. The game’s main point is that the player buys NFT, like virtual sneakers, and then gets rewarded for running in real life. More than 300,000 people use Stepn every day in just a few months. The GMT token is now worth about $121, about eight times what it was when trading began in March. However, it had fallen from its all-time high of about $4.11 in April, which was worth the most.
This game is like STEPN, but instead of running shoes, bikes are used.
Genoptes is the first Move-to-Earn NFT game built on the Solana blockchain to make a fun reward. It is a role-playing game that combines parts of Pokemon Go and the digital pet game Tamagotchi with incentives to get fit and meet new people. Here, players can create their own NFT games and play them online. So, the user has to walk around to raise digital pets. The more the pet grows, the stronger it gets. By doing tasks, the user can earn a reward.
The platform helps people care for their minds and bodies better by letting them care for, fight, and evolve digital pets called Genopets. You can buy, sell, and trade these Genopets, and the more powerful ones can help you make more money.
Wirtual gives people a new way to mine cryptocurrency that is cheap and easy to use. WIRTUAL Coins can be earned using your usual fitness device (Strava, Fitbit, Garmin, Apple Health, or Huawei Health) to track your running, swimming, cycling, dancing, or working out.
By changing parts of your character, you can get special “powers” or privileges and limited-edition clothes only you can wear. The one-of-a-kind character you made can then be sold to other users.
Sweatcoin is a mobile app that pays people to stay fit by doing things like walking, swimming, and cycling. Sweatcoin is different from other move-to-earn apps because it doesn’t use a cryptocurrency to pay its users. Instead, it uses reward points called “sweatcoins.”
People love Move to Earn because…
Move to Earn games are a great way to get people up and moving, which is good for their health in many ways. M2E games are also an excellent way to stay active because they can be played anywhere.
Also, players of M2E games have the chance to get rewards in cryptocurrency. This is a big selling point for many people because it lets them make money while playing games and staying active at the same time. Think of Pokemon Go, but with cash added.
Move-to-Earn: Now and Tomorrow
Before we talk about how Move-to-Earn might grow in the future, we must take an honest look at how things are right now. And if we try to look at the sector’s current state with an open mind, we can find several problems.
First, you have to put money into these games before you can start making money from them. Depending on the project, the first contribution can be as little as a few tens of dollars or as much as a few thousand dollars.
Second, the users must put the money they earn back into the game to make more money. Also, investing more than once can sometimes bring in more money than the first investment.
And third, there’s a good chance that this “to earn” prefix can trick developers and players in brutal ways. The fact is that almost everyone who plays these games does so only to make money. Only a small fraction of them play just for fun.
Can you make money with move-to-earn games?
Many people looking into move-to-earn games are looking for one thing: to make money by moving around. And even though many users do make money, their chances usually depend on the following:
Initial investment: Most move-to-earn apps require an initial investment in NFTs or a utility token. Rarer NFTs and larger token holdings usually give participants access to better move-to-earn rewards and can shorten the time it takes to get a positive return on investment.
Since yields are usually directly related to how much physical activity a user puts in, those who are more active are likely to make more money more quickly.
Most move-to-earn games give users a small share of their utility token’s inflation or a fixed amount of money from a reward pool. Generally, these rewards are given to users based on how well they did, compared to everyone else, or based on a fixed cap per person. Most of the time, the rewards for each participant go down as more people join.
Depending on how the price of the reward token changes, move-to-earn apps can be very profitable or not profitable. Users should remember that tokens with strong bearish price action are likely to be less profitable in the long run than those with strong bullish price action.
Making M2E games isn’t always easy, as you can see. But a reliable vendor who knows what they’re doing can help you find a solution to any problems you have when you start your M2E journey.
People worldwide are interested in the virtual world, and this is where entrepreneurs come in to make the virtual space bigger. Suffescom Solutions Inc. is the best Move-to-Earn Game Development company for entrepreneurs and business owners to get into the virtual world by turning their idea into a web3 platform for users of the virtual world. They built and launched more than 100 digital projects that did well. If you want to know more about Suffescom, go to its website.