Move to Earn (M2E)

Move-to-earn games are becoming increasingly popular in today’s environment. For participating in a sporting event, the user gets awarded bitcoins or NFTs. The apps usually pay you to walk or run. It appears to be a straightforward way to make money, especially for those who enjoy going for walks.

What Is the Earn to Move Model?

The Move to Earn (M2E) concept is a new form of Web 3.0 game. Its goal is to get people to move. Play-to-Earn is distinct in that the user is rewarded for actual activities rather than just gameplay. Users are awarded in-game tokens when they walk, run, or engage in any sporting activity. This is accomplished through the use of GPS on their smartphone. They can be redeemed later for bitcoin or used to boost your future parameters and income in the game. Many M2E games require users to purchase an NFT during launch/registration.

The concept of “move-to-earn”

Move-to-earn is not a novel concept. The move-to-earn premise is straightforward: users get rewards for moving around and exercising in the physical world. Move-to-earn platforms use GPS, NFTs, blockchain, and GameFi technologies to track and reward people’s movements.

Because it is still a relatively new industry, determining how many users are participating and how much money is made is difficult. Move-to-earn combines existing technology in novel ways to create a completely new product. However, innovation in this industry does not stop there. Different platforms employ move-to-earn mechanisms in diverse ways to achieve their objectives.

How do various platforms take advantage of move-to-earn?

There are numerous applications for move-to-earn technologies. Some platforms incorporate it into their RPGs so that your physical activity helps you progress in your virtual adventure. Similarly, you level up your battle avatar in other games by moving around in real life.

Some games even allow you to compete against friends or other gamers from across the world. You and your opponent engage in a one-on-one challenge in which you must fulfill a predetermined assignment. You each placed your money into the winner’s pot. An AI tracking program determines the winner, and the winner receives the prize. Of course, some move-to-earn services exist to provide exercise. And the principle is simple: run, walk, or otherwise move around in the real world, and you will be rewarded with in-game tokens. Of course, there is more to it when you start playing properly. But, in a word, it’s that straightforward.

Expect more virtual worlds to be integrated into move-to-earn platforms as technology advances. Last year, OliveX, the fitness firm behind The Dustland, purchased some land in The Sandbox.

How can move-to-earn help you earn cryptocurrency?

There are numerous ways to earn cryptocurrency; not all require you to leave your sofa and venture out into the real world. However, as the title suggests, this is the primary way to earn points and save money.

Running around in parks, streets, and forests can earn money, which is the crux of move-to-earn. The vast majority of move-to-earn platforms compensate users with in-game cash. GST applies to StepN, while FITFI applies to Step App. GENE and The Dustland DOSE are available on Genopets. All these games allow you to earn in-game currency that you can subsequently use within the platform or convert into fiat and cold hard cash.

Minting — On platforms such as StepN and Step App, players can mint critical in-game NFTs, which they can then use or trade on the market. The current floor price for Sneakers on StepN is 11.6 SOL ($537), which is subject to change at any time.

Trading — Because in-game products and NFTs are integral to move-to-earn games, secondary marketplaces are thriving. We’ve already established that running shoe NFTs are required for StepN and Step App. Genopets avatars now have a floor price of 49.9 SOL ($2,049), and their Habitat virtual worlds have a floor price of 59.9 SOL ($2,449). Users can also trade seeds, eggs, and crystals, which are useful in the Genopets environment. According to Dustland’s plan, a player-to-player marketplace will be available soon. A Dustland PFP NFT sale is also rumored to be on the horizon.

Staking — Because these platforms all share GameFi mechanics, most support staking. Step App has enabled perpetual staking, which implies that users can stake indefinitely.

Factors Contributing to the Success and Popularity of Move-to-Earn NFT Gaming

  • Platforms — Venture capitalists are placing large bets on move-to-earn NFT gaming projects.
  • In the post-pandemic period, users desire to grow fitter.
  • The ability to earn more quickly than other types of rewarding games. The introduction of assisting gadgets such as fitness watches.
  • Earn-to-move may be the NFT space venture capital fund managers seek.

Important features of a move to earn an NFT gaming solution

Setting Objectives

The platform should provide goal-setting, allowing users to specify their regular movement or fitness activity levels. The key benefit of this feature is that users will continue to push themselves physically to achieve more each day. Users will be motivated to increase their total exercise levels due to this.

Integration with the Fitbit

Smartwatches and fitness devices with 5G connectivity are popular among individuals who wish to track their exercise goals while on the road. A wristwatch extension or application might increase the popularity and acceptability of the gaming app among individuals who want these additional technological extensions.

GPS compatibility

The program must support live GPS tracking to track real-time movements and activities.

Profile of the user

A user should be able to build his profile on the NFT gaming app. This profile description should allow users to upload real photos and in-game characters. On the profile, the user can describe his avatar in a small length so that visitors can relate to the character or avatar.

Dashboard

Each user should have access to a dashboard containing historical data and daily progress toward goals and achievements.

Integration with the marketplace

The NFT game must be expanded or integrated with NFT marketplaces. Users must be granted access to their preferred NFT marketplaces using Multi-Factor authentication. Collaboration with numerous NFT trading platforms may be required.

Simple UI/UX

The game’s user interface and user experience must be simple and intuitive. Expert UI/UX design firms can assist businesses in building a seamless design.

Integration of social media

Users must be able to discuss their accomplishments and special occasions on social media publicly. When it comes to promoting your NFTs, social media is crucial. Access and sharing should be provided on popular social media platforms so gamers can easily market their in-game assets.

Scalability

With the ever-changing NFT industry, cryptopreneurs must design a scalable solution for the future. Blockchain technology enables immutable solutions. However, scalability can be achieved while still allowing for future expansion.

Security

Last but not least, security is the most crucial issue in determining the success of any NFT endeavor. As a result, NFT development services are critical in the solution’s preparation, testing, and deployment. There is a lot of money at stake in the NFT industry, and gamers don’t want to risk their gains and earnings because of external threats. Here is where smart contracts come into play.

Conclusion

NFTs gain another level of usability with move-to-earn. Inside the applications, athletes, coaches, and other benefits can be purchased and traded for fiat currency — the ability to enhance and repair the NFT. At the same time, earning badges would keep the system running smoothly.

Originally published at Reveation Labs Blog Page.

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Reveation Labs

Reveation Labs

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We are an established Blockchain Development Company based in the US, dealing in Blockchain, NFT Marketplace, Metaverse, Web 3.0, DeFi, and Tokenomics.