The Rising Star of Crypto: A Comprehensive Guide to Move-to-Earn (M2E) Phenomenon
🏃♀️💰 Move-to-Earn (M2E) is a recent innovation in the blockchain space that rewards people for physical activities like exercise. These applications, similar to Play-to-Earn (P2E) games, offer effort-based rewards, with the market predicted to reach $1.8 billion by 2030 from its current $375 million valuation. Notable M2E apps include StepN, Step App, SweatCoin, Genopets, Dotmoovs, and Calo.
📱🌐 M2E apps combine GPS, blockchain technology, DeFi concepts, in-game tokens, NFTs, and gaming elements to verify and reward users’ actions. They provide a lucrative way for people to monetize their fitness goals, adding a fun element to the process.
🏋️♂️💸 M2E apps work by requiring users to purchase an in-game NFT (like a sneaker) which determines their rank and earning potential. As users exercise, they earn in-game tokens or NFTs, which can be traded on secondary markets. Other earning methods include staking and minting special in-game NFTs.
📈🔮 With a current market capitalization of over $375 million, M2E is seen as a significant disruptor in the crypto and blockchain space. The growth of M2E is attributed to its easy-to-use interface, which attracts fitness enthusiasts and newcomers alike.
🏥🌿 The M2E ecosystem is expected to thrive due to three main factors: the adoption of a healthy lifestyle, the economic model behind M2E, and room for innovation. M2E apps encourage a healthy lifestyle, provide a new way to earn, and have the potential for continuous innovation due to the open-source, transparent, and decentralized nature of blockchain technology.
🌐🤝 M2E apps also have the potential to increase the adoption rate of blockchain and crypto-based products, boost earning potentials, improve the health sector, and build stronger communities.
To dive deeper, check out the complete article: https://droomdroom.com/next-big-thing-in-crypto-all-you-need-to-know-about-move-to-earn-m2e/
