With Play2Earn, the 2021 trend, on the other side of development, crypto investors, as well as developers, need fresh air to blow back the vibrant. And Move2Earn appeared as a reasonable solution, in terms of content, market, and positive intentions it brought. The following article will help you answer the question, What is Move2Earn; why Move2Earn is thriving; and how Move2Earn will develop in the near future
What is Move2Earn?
After a year of struggling with Covid pandemic, blockchain technology took the throne, allowing users to make money not only through trading, staking, farming coins but also a number of xx-to-earn models. This model has been replicated in different forms, the most popular are play2earn, shop2earn, share2earn, and recently, Move2Earn has emerged as the next trend. In fact, Move2Earn has been around since 2021, with the appearance of a number of projects like Calo, but its popularity and success still cannot be compared with the craze of Play2Earn at that time.
Moving on to 2022, when Play2Earn stopped attracting investment with too many scandalous projects, Move2Earn won the hearts of the majority of the community. Formed from the concept of combining both making money and improving health, two things that seem difficult to link together in the DeFi market. With the blow of STEPN, Move2Earn received more attention from the community, just like what Play to Earn did exactly a year ago.
Move2Earn is a model of helping users earn money through daily movements by using sensing technology and measuring movements of the trainers. Trainers can earn more by buying, selling, and upgrading in-app NFTs like shoes. With the practical application and outstanding benefits that Move2Earn brings, Move2Earn has won the hearts of the majority of the crypto community.
Start with Genopets, the first Move to Earn project developed on the Solana. Genopets chose to approach the vast majority of users in the market by allowing players to customize with the Dual-Earning mechanic.
Following that was the resounding success of STEPN, perhaps winning in the Solana Ignition Hackathon for the Gaming Track in 2021 and running the test versions was not enough for STEPN to gain attention from the community. Until Binance Launchpad announced their 28th project, STEPN (GMT), Move2Earn keyword has been getting more and more attention.
Why is Move2Earn?
1. High practicality and applicability
After a period of “being a drone” during the pandemic, health and exercise are the two factors that have received the most attention. However, the hardest thing to keep practicing every day is staying motivated. Targeting that psychology, Move2Earn has formed a motivation that everyone wants to have, financial motivation. Just by participating in simple sports activities such as jogging, push-ups, and jumping right at home, trainers can earn a daily income. For a simple example, with a pair of Runners of STEPN, it only takes 10 minutes for each player to spend 2 energy to exchange for 12 GST tokens~ $24 (data on 9th May).
Therefore, Move to Earn can be a bridge to push people closer to blockchain technology, not only expanding the market but also connecting with real-life activities. Maybe in the near future, in addition to walking or jogging, we will also see other sports such as tennis, cycling, gymnastics, etc. being applied to Move to Earn through the Move to Earn model.
2. Diverse users
If Play2Earn is limited to players who need a lot of time, knowledge of the game, and are partly traditional gamers, then Move2Earn has a diverse customer base, for everyone with an easy concept, because basically everyone can do the simple activities mentioned above.
Move to Earn certainly does not stop with crypto enthusiasts, but will also spread to non-crypto when health issues are of much concern to people around the world.
Typically in the United States, according to data provided by the Sports Association (SFIA Research), up to 50 million people, equivalent to 15% of the US population, participate in running activities. At the same time, according to the International Institute for Research in Medicine in Running (IIRM), over the past decade, the number of people participating in running has also increased by 50%. With just a few of the numbers mentioned above, it is enough to understand the great potential of Move to Earn
In addition, Move to Earn is easy to apply to organize events such as Marathon, short distance running, etc. to reach and attract more customers. Thereby spreading the trust as well as the knowledge of many people with crypto.
NFT (Non-fungible Token) is a unique token and cannot be replaced by other tokens. Non-fungible Tokens represent different items or assets of value, with the unique nature of this type making NFT more popular in the market than ever. Who doesn’t want assets that are only owned by them and have their own unique identifiers attached, so NFT is very suitable to combine with DeFi.
Move2Earn combined with the use of NFT, helps bring value to each user. When spending about 10 SOL (at the time of writing) for each NFT Sneaker of the STEPN game, this will certainly be a great motivation for users to be able to put on their shoes and run at maximum speed in the real life.
How will Move2Earn develop?
Currently, this is just the beginning of a very long journey of Move2Earn, there trend is proved to be potential if this type of DeFi model is properly invested to be able to expand and be applied more in practical life. In the period when the Play2Earn market is struggling to find the solution, can Move to Earn apps continue their craze?