What is Move-to-Earn?
The cryptocurrency world is developing day by day thanks to the amalgamation of new technology and creative ideas. The concept of Move-to-Earn (M2E) is one of these developments. Move-to-Earn projects aim to generate an income for users by getting them to move in various ways. Users benefit when they walk, run, do sports, dance — any form of movement they enjoy. If you have questions like what is Move-to-Earn or how does the Move-to-Earn system work, you will find the answer in this article.
What is Move-To-Earn?
The Move-to-Earn concept first emerged in late 2021. The model, which began to trend in 2022, allows people to earn money from movement in their regular lifestyle, without putting in any extra effort. But simultaneously, it provides people who aren’t moving enough with a source of motivation.
Move-to-Earn is comparable to the Play-to-Earn model, which was developed with the aim of allowing people to earn by playing computer games. Play-to-Earn successfully allowed users to generate an income through playing games. Move-to-Earn, while inspired by Play-to-Earn, goes one step beyond it and encourages physical activity, hoping to establish active and healthy habits. To earn more people, move more. Users receive payment from their activities as coins, tokens or NFTs. Users could convert their earnings into fiat money or use them for speculative purposes.
How does the Move-to-Earn model work?
Much like fitness apps, Move-to-Earn apps detect users’ movements using GPS tracking and motion sensors. They can distinguish not only when and where the user is moving, but also what type of movement is occurring. Different rewards are distributed for walking, running, dancing or other sports. The income you gain from running may be more than from walking.
Different Move-to-Earn projects provide users with different experiences. Users who download the Move-to-Earn app need to purchase an NFT shoe to use the app. NFT shoes are classified by the type of movement and by potential income. A user who buys running NFT shoes earns income as they run, while a user who buys NFT walking shoes earns income by walking. These NFT shoes, which function like real shoes, get worn down and lose efficiency as they are used — as their performance decreases, so do the profits obtained with them. The income level can be restored by repairing the shoes or buying an NFT.