It is an emerging trend in the world of cryptocurrencies and digital fitness, allowing users to earn tokens and cryptocurrencies while engaging in physical activities or working out. The concept combines physical exercise with the world of decentralized finance (DeFi) and cryptocurrencies, encouraging people to stay active while getting rewarded for their physical activity.
What is Move-to-Earn?
The Move-to-Earn (M2E) model relies on applications that reward users with tokens or cryptocurrencies when they perform physical movements or activities such as walking, running, or exercising. These projects typically use tracking technology via mobile devices or wearable devices (such as smartwatches or phone apps) to monitor the user’s physical activity level. Users can exchange the earned tokens for other cryptocurrencies, products, or services.
How do M2E projects work?
Move-to-Earn projects operate via apps or platforms that connect users to a rewards system. Participation often requires downloading a specific app and, in some cases, purchasing an NFT (non-fungible token) or related gear (such as virtual shoes) that allows users to earn cryptocurrency while engaging in physical activity. Some popular apps in this space include:
StepN: One of the most popular apps in the M2E space. Users purchase a pair of virtual shoes NFT and then earn tokens as they walk or run. These tokens can be exchanged for other cryptocurrencies or even cash.
Walken: Similar to StepN, Walken rewards users for walking. Users earn tokens called “WLKN” that can be used to upgrade their characters, exchanged for other digital assets, or withdrawn to their wallet.
Sweatcoin: This app doesn’t require NFTs or tokens to get started, but rewards users with “sweatcoins” for walking. While not traditional cryptocurrencies, sweatcoins can be exchanged for products or services or even converted into cryptocurrencies.
How to earn cryptocurrency “for free” with M2E?
Although it is not completely “free” as you usually need to make an initial investment to purchase NFTs or project-related equipment, the M2E concept allows users to earn cryptocurrencies while doing regular physical activities. Some steps to earn tokens from M2E are:
Download the M2E app: The first thing to do is to choose and download a reliable M2E app like StepN or Walken.
Purchase the necessary equipment: In many cases, you will need to purchase NFTs or digital equipment (such as virtual shoes or a character) to start earning tokens.
Get moving: The more you exercise, the more tokens you earn. Apps usually have a rewards system based on steps, distance traveled, or calories burned.
Token Exchange: The earned tokens can be used in various ways, such as exchanging them for other cryptocurrencies, redeeming them for products, or even selling them.
Is it worth participating in M2E projects?
Participating in Move-to-Earn projects can be a great way to earn rewards while staying physically active. However, it is important to consider several factors:
Initial Investment: While some apps allow you to get started without investment, others require you to purchase NFTs or virtual equipment. This can be risky if the tokens don’t rise in value as expected.
Profitability: The amount of tokens you can earn depends on your level of physical activity. In some cases, users may be able to earn enough tokens to cover their initial investment, but this is not guaranteed.
Volatility: Like other cryptocurrencies, M2E tokens can be volatile and their value may fluctuate significantly.
Conclusion
Move-to-Earn projects are changing the way people think about exercise and cryptocurrencies. While it’s not true that earning cryptocurrency through M2E is “free” in the strictest sense of the word, it is an innovative way to combine physical activity with digital rewards. However, like any crypto investment, it’s always important to do proper research and be prepared for the risks involved.