Until now, rewards for sports performance registration and effort have been limited to two main areas. Mobile apps aside It was able to keep all the data of his efforts and share them on social networks. On the other hand, devices that allow the recording of physical exercise data For example via Apple Watch.
But with the advent of blockchain, NFTs and Play-To-Earn games in recent years the situation has completely changed to see the emergence of a new way of consuming the game.
What exactly is it?
In the same way Play to earn Blockchain applications based on the concept of (P2E), Move-to-Earn (M2E) Connect both video games and gaming applications to get cryptocurrencies for physically active users. So it is the perfect combination of Play-to-Earn and apps that motivate people to move and take care of their health.
In fact, Move-to-Earn is the “camouflage” of decentralized funding (DeFi). That is, investing a certain amount of money in return.
How does Move-to-Earn work?
Move to earn, Take the economic model of today’s video games. That means the opportunity to pay to improve your gaming experience, develop faster and improve your performanceThus, in return for the physical labor provided, the player is rewarded in cryptocurrencies for participating in the adventure. In the move to earn, it is necessary to move daily in the hope of making gains on a regular basis.
With the gain at the end of the endeavor, the athlete can reinvest his tokens in the game or in other cryptocurrencies. For example it is very possible to reverse your gains against euros or dollars.
Above all the return on investment comes from the value of the token distributed. In other words, it is not a game that rewards participation, but the presence of a “player-investor” community.
What are the main uses of Move-to-Earn?
- படிஎன் : The undeniable leader of M2E. Players earn cryptocurrency (GMT) by walking or running outside. Affected by its success, it becomes very difficult for a small wallet to take advantage of the benefits that the application offers.
- dotmoovs : Allows you to challenge others in all kinds of sports and around the world. An algorithm recognizes movements and makes it possible to compare its performance with others and receive tokens in parallel.
- Genopets : The application proposes to improve physical movements and cognitive endeavors in the game to improve and enhance the NFT (organism known as genopet).
Strengths and weaknesses of the concept
Benefit argument for Health is the main asset of this M2E. However, Move-to-Earn suffers from some major drawbacks:
- The cost of entry is generally significant. Before you expect the right return on investment, you need to invest first (in NFT sneakers in the case of Steph). It can cost several hundred or several thousand dollars to start running some applications.
- These games are primarily for financial purposes. So there is a risk of losing the capital invested.
- M2Es often have the image of simple “Ponzi schemes”. Or the first players are paid by the arrival of newcomers. It is therefore essential to be vigilant and find out the seriousness of the team responsible for its development before starting the project.
Conclusion: What is the future of Move-to-Earn?
The arrival of blockchain was finally allowed The origin of real inventions with real financial rewards for the physical labor provided. This new concept of M2E encourages users to adopt positive behaviors for their health.
However, Move-to-Earn is only in their infancy. They need to maintain a real community for a long time, renew themselves with new challenges and attract new users so that demand exceeds supply.