Move-to-earn (M2E) is another x-to-earn model that allows you to earn passive income mainly through physical activities.
Fitness apps can be developed as M2E platforms. With M2E apps, you can earn in-app digital assets by working out which then you can trade on different marketplaces.
In this article, we will talk about the move-to-earn (M2E) model and how they work.
A healthier version of Play-to-Earn (P2E), Move-to-Earn (M2E) is a new web 3.0 model that allows users to earn rewards by working out.
M2E helps fitness apps to tap into the web 3.0 space and incentivize their users in a more attractive way by offering them something with monetary value.
Unlike P2E, users have to stay active and exercise in order to earn rewards that mostly come in form of in-app tradable assets or cryptocurrencies.
M2E applications leverage device sensors such as Global Positioning System (GPS) and step counters alongside blockchain technology to track their users’ movements and give them rewards.
DeFi is also an integral part of the M2E model as in-app assets are mostly in form of Non-Fungible Tokens (NFTs).
The idea of move-to-earn (M2E) is quite simple. First, you have to earn rewards by exercising.
The device will track your movements using its sensors or gadgets and will calculate your rewards accordingly.
Then, you can trade your rewards in existing marketplaces or even stake them if the option is available.
Some M2E platforms also allow their users to mint new NFTs which they can then sell or exchange in the secondary markets.
So Here’s what you should do to earn rewards on move-to-earn platforms:
Move-to-earn is a smart model that allows you to stay fit and healthy and even rewards you for it!
The first step is to find a fitness app that supports the M2E model. Based on the platform, you may be able to start earning for free or you need to buy an NFT to be able to participate in the activities.
After receiving your rewards, you can sell or exchange them in the secondary markets.
If your rewards are in the form of NFTs, you can trade them on well-known NFT marketplaces such as OpenSea or LooksRare.
Additionally, each platform may have its own native cryptocurrency and you could earn them as rewards. In that case, you can simply trade them on any exchange that is offering services for those tokens.
Minting and staking are two other options that you may also use to earn on move-to-earn platforms. As a player, some platforms may give you the option of minting new NFTs or allow you to stake your in-app assets to earn rewards.
Move-to-earn (M2E) and play-to-earn (P2E) follow the same model. However, they have their own way of rewarding their users.
Blockchain and NFT games are usually based on play-to-earn (P2E), allowing the players to win rewards or the native crypto asset of the game by simply playing the game.
Games mostly reward the winners, a fact that makes them more engaging and competitive.
Decentraland (MANA) and Sandbox (SAND), for example, are two virtual-reality platforms where players can own their own space and build unique experiences there.
By playing these metaverse games, players can earn cryptocurrency or in-game assets in form of NFTs which can be traded on popular NFT marketplaces.
Move-to-earn (M2E) model, on the other hand, is mostly based on the user’s effort, not their performance.
Even though less competitive, M2E allows players to earn rewards by doing their daily activities such as walking, jogging, or working out.
Although their revenue model is different, both P2E and M2E provide users with a new model to earn passive income.
With X-to-earn models like this, we can see how blockchain technology and cryptocurrencies can revolutionize different aspects of our lives, making them more interesting, engaging, and even profitable.