Why it’s worth it to earn crypto while sweating

In 2021, the cryptosphere felt the tremors of the play-to-earn (P2E) non-fungible token (NFT) craze that struck old and new investors with the idea that earning cryptocurrencies can be much more fun. The idea of ​​potentially making huge incomes just by playing online games enticed users, whether they were gamers or not.

However, the play-to-earn model seems to be losing touch after the huge success of Sky Mavis’ Axie Infinity. However, this loss of momentum did not stop other projects from further developing the concept – integrating it into a more rewarding real-life activity without spending too much time and effort on strategies and combat in P2E games. Look into move-to-earn (M2E) applications.

The success behind M2E NFT Gaming

M2E apps incentivize users for their physical, real-world activities and reward them with cryptocurrencies. Such platforms have gained traction from users, with examples such as STEPN and Sweatcoin having been successful.

While P2E games earned their right to gain popularity, there’s no denying how easy it is to play M2E platforms – users simply earn by doing what most people already do. Meanwhile, technology boosts your fitness and health goals.

In particular, GMT, the ticker symbol of STEPN, practically resides in CoinMarketCap’s list of trending cryptocurrencies. It reached its highest peak so far of $4.11 on April 28.

Venture capitalists betting big on M2E is also one of the factors driving the mania behind the fairly new model. New player Kikit, a Liberty Gaming-powered soccer M2E, is backed by several partners, including Synergia Capital, Maitri Capital and Skylaunch.

According to Liberty Gaming, the project is expanding its global partnerships beyond the crypto industry, starting with a deal with Indonesian soccer club Persib Bandung in February. Liberty and Kikit revealed that VC are “close” to getting a deal done with a Premier League giant.

Like any burgeoning platform, M2E attracts thousands of users. But with this growth comes the possibility of listing becoming more expensive.

In the case of STEPN, users must purchase virtual sneakers to start earning. These sneakers are represented by an NFT, which costs at least 1.6 SOL, or $70, at the time of writing. As these M2E apps grow, the price to enter M2E increases.

This spurred such apps to introduce the guild and scholarship programs. Guilds provide stipends to players as a reward sharing model, where the guild acquires NFTs and rents them out to new players. These players can use the platform and start earning without having to spend any money.

Numerous guilds are starting to form left and right, with the likes of Kikit expecting roughly 20% of their user base to come from rental accounts. Liberty Gaming said it plans to issue an initial 100,000 accounts that will be distributed for rental.

There are around one million scholarship applicants globally and we plan to satisfy this demand. Kikit will also bring scholar-specific game features in addition to our account rental system.

Earning potential

While the GameFi concept may turn out to be unsustainable, relying heavily on hype, there’s no denying its huge potential to accumulate a ton of revenue for its users.

Kikit aims to promote a healthier lifestyle through the gamification and monetization of exercise. The platform noted that its key differentiator is the mix of value drivers that blend personal, social, material and financial incentives. The Kikit team believes this will increase user retention and engagement levels, putting their app in a position to ensure long-term sustainability.

Global appeal

Experts have argued that players play for fun and not to earn. Furthermore, they claim that the attraction towards P2E mostly comes from less developed countries, where users play on such platforms for economic reasons. This limits the appeal of P2E to a wider audience. On the other hand, M2E is easily integrated into everyday life, with users being rewarded without investing too much of their time.

Interestingly, Kikit has found a way to further elevate the concept through mass adoption. Soon it will launch different modes along with football feature.

Be creative; Onward into the future

Despite being in its infancy, the M2E sector is ripe for the taking. By combining training, earning and gamification of fitness apps, M2E can attract a large number of users. In the future, more projects like Kikit, STEPN and Sweatcoin will be introduced. They may have different services, but they share the same goal of making every drop of sweat worth the time.