The play-to-earn (P2E) model swept through the gaming landscape and disrupted a multi-billion dollar industry. The ability to earn cryptocurrency rewards for having fun, competing, and showing off appeals to crypto enthusiasts and non-crypto users alike. Furthermore, game-theoretic mechanics incentivize participation in a way that was unheard of until recently. However, the P2E model has expanded beyond computer monitors and television screens, taking a slice of another multi-billion dollar industry. Move-to-earn (M2E) games and applications allow users to earn crypto rewards for participating in sports and exercise challenges. Some of the top move-to-earn apps such as STEPN, Step App, Genopets, dotmoovs, and DOSE are seeing a huge surge in adoption. So, if you want to learn more about move-to-earn, read on!
In this article, we’re going to explore the top move-to-earn apps available in 2022 and the differences between them. We also discuss the concept of move-to-earn, the mechanics behind it, and the best applications to implement it. In addition, we explore some of the different ways these apps reward users for staying fit and healthy!
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What is Move-to-Earn (M2E)?
Move-to-earn (M2E) applications allow users to earn cryptocurrencies by working out and completing fitness and sports-related tasks. These applications use a similar model to P2E blockchain gaming platforms, rewarding players for their participation and skills. However, M2E requires players to be active and compete in physical tournaments and games instead of sitting behind a gaming monitor.
Several M2E gaming platforms use decentralized finance (DeFi) elements to incentivize users and give them “skin in the game”. Furthermore, some of the top move-to-earn applications combine elements of P2E gaming with the metaverse. Also, gaming activities are recorded on public blockchains, so they can’t be altered or manipulated.
Play-to-Earn (P2E)
P2E gaming is one of the biggest trends in blockchain gaming right now. This gaming model allows players to earn a passive income by completing tasks and missions. Plus, P2E gaming platforms combine elements of DeFi, non-fungible tokens (NFTs), and the metaverse to create an immersive, engaging blockchain gaming experience.
In P2E gaming, players can earn cryptocurrency rewards for their efforts. Also, in-game assets such as swords, potions, characters, and shields are stored immutably on-chain in the form of NFTs representing ownership of virtual and physical items, making them ideal for gaming apps.
The Metaverse
The metaverse is a futuristic virtual world powered by blockchain, virtual reality (VR), and augmented reality (AR). It combines social media and blockchain gaming to create immersive 3D worlds. Furthermore, the metaverse is a projected iteration of what the internet could be like in the near future. Users can interact using avatars, participate in decentralized token economies, and collaborate with other members of the Web3 community. Also, the metaverse allows people to buy and sell virtual land and real estate.
Top 5 Move-to-Earn Apps
The metaverse and P2E gaming models feature heavily throughout the move-to-earn world. Now that we’ve broken down the concepts of move-to-earn and the metaverse, let’s take a close look at some of the biggest projects in the Web3 realm. Below, we’re going to explore the top five move-to-earn apps available in 2022. These apps are ranked in order of market capitalization, according to CoinGecko.
#1 – STEPN
The first of our top move-to-earn apps is STEPN, the leading Web3 health, lifestyle, and fitness app built on Solana. STEPN incorporates elements of social finance (SocialFi) and game theoretic mechanics to incentivize users to run, jog, or walk outdoors. In return, users can earn the native GMT token, which can be freely bought and sold. Also, the GMT token allows players to mint NFT “sneakers”, which are upgradable via the in-app marketplace. Plus, holders earn the right to vote on governance proposals to make changes to the STEPN protocol.
The STEPN platform caters to crypto natives and non-crypto natives alike. It has a low barrier to entry, meaning you don’t need to be a crypto genius or sports star to earn a passive income. Each time you participate in a STEPN event, you can earn crypto rewards. Up to level 30, users can earn the utility token called “Green Satoshi Token” (GST). After level 30, STEPN players can earn the GMT token. The GST token has an unlimited supply and is essential for things like NFT sneaker minting, repairs, and upgrades throughout the STEPN ecosystem. Also, the GST token is burned each time a player performs one of these operations. However, the GMT governance token has a maximum supply of six billion and a circulating supply of 600 million.
#2 – Step App
Step is a “development protocol for FitFi (fitness finance)” on the Avalanche blockchain. The first app on the Step protocol is Step App, accompanied by the native FITFI token. Step App is an immersive metaverse gaming platform that combines augmented reality (AR), NFTs, and geolocation technology to encourage friendly competition and social enjoyment in a way that benefits the well-being of its users. Also, the Step Protocol SDK (software development kit) allows third parties to create applications within the Step App metaverse environment.
Step App incorporates a token economy with a dual token system, staking, liquidity mining, and a token buyback and burn function. Further, the FITFI token is the native governance token of the Step App ecosystem. Holders earn a share of protocol fees. Plus, they can vote on governance proposals to make changes to the Step App ecosystem. Also, staking the FITFI token enables players to earn tickets for NFT airdrops and exclusive events. In addition, the KCAL token serves as the Step App in-game token. Players can earn the KCAL token from in-game activities and use it for purchasing in-game items and minting NFTs.
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#3 – Genopets
Genopets is the world’s first free move-to-earn non-fungible token (NFT) game. Built on the Solana blockchain, Genopets is a mobile role-playing game (RPG) that rewards players for exercising their body, mind, and spirit. Players can create, nurture, and customize Genopet NFTs – encoded with their personalities. Also, Genopets NFTs allow users to record daily activities on the blockchain, using physical movements and cognitive exertion to progress through gaming scenarios throughout the “Genoverse”.
Players can compete in the Genopets battle arena and sharpen their reaction times, memory, and cognitive abilities via turn-based mini-games. Also, the “play-for-keeps” mode allows users to compete for in-game items and move sets. Furthermore, the Genopets marketplace enables users to exchange NFTs and other assets that help them progress through games and competitions.
If you’re familiar with Tamagotchi or Pokemon, Genopets will likely seem familiar. The combination of asynchronous puzzle games, training, and battling are common throughout the gaming world. However, Genopets enables players to earn crypto by getting off the couch and staying active. The platform uses a dual token model. The GENE governance token grants holders the ability to vote on proposals to improve the platform. Also, users earn the KI in-game token, which can be used for evolving Genopets, battling other players, and creating new habitats.
#4 – dotmoovs
The next project in our top move-to-earn apps list is dotmoovs. A Blockchain Game Alliance member – dotmoovs is a blockchain-based “sports mining and mobile competition platform” that combines artificial intelligence (AI) and advanced computer vision technology to detect human body movements and limb positions. The goal of the platform is to accurately measure performance and skill across various sporting activities and challenges. Also, the platform uses an arbitration engine and a scoring algorithm to determine the skill of competitors.
The dotmoovs platform allows people from different parts of the world to compete against each other, even if they have never met before. This allows athletes to raise their game regardless of geographic or economic limitations. Players can challenge each other in a variety of sporting contests and earn cryptocurrency rewards and non-fungible tokens (NFTs). Also, every dotmoovs competition is immutably recorded on the Ethereum blockchain, so there’s no possibility that anyone can cheat. In addition, dotmoovs uses AI-driven video referees and fraud detection algorithms to prevent foul play.
Anyone with access to a smartphone with a camera can play dotmoovs. The aim is to democratize access to sporting competitions and lower the barrier to entry. Players can earn the native MOOV token by showing off their skills on a global stage. Also, dotmoovs uses a range of algorithms designed for specific sports and matches players of similar skill levels. Accordingly, participants can customize the rules of the games they play or take part in seasons to claim crypto prize pools throughout the dotmoovs ecosystem.
#5 – DOSE
DOSE is the native cryptocurrency of the OliveX gamified fitness ecosystem. OliveX is responsible for some of the top move-to-earn apps on the market, including Dustland Runner, Dustland Rider, 22 Pushups, and more. Furthermore, players earn DOSE token rewards for completing various workouts and fitness activities. These apps use fragmented narratives that enable players to unlock mysteries and storylines. Also, players can set their own goals and targets. Plus, anyone can earn DOSE token rewards for free by participating in a range of fitness challenges in multiple gaming scenarios and contributing to the DOSE community.
The DOSE ecosystem aims to encourage people to be more active in their daily lives by incentivizing them to use cryptocurrencies such as the DOSE token (DOSE). The name “DOSE” is an acronym for the chemicals our bodies release during exercise which make us feel good. These chemicals are dopamine, oxytocin, serotonin, and endorphin. Furthermore, DOSE has partnered with some of the biggest names in blockchain and Web3 gaming. This includes Animoca Brands, Polygon, Solana, and The Sandbox.
Top 5 Move-to-Earn Apps – Summary
The move-to-earn (M2E) model is capturing a global market of non-crypto natives. M2E apps allow participants to earn crypto rewards from their body movements and by participating in a range of physical activities. In a world where our daily activities are at odds with staying active, the top move-to-earn apps such as the ones mentioned in this article encourage us to get off the couch and exchange sweat and skill for crypto.
Some of the top move-to-earn apps provide high-quality sports-related skill assessments that are absent in many parts of the world. As such, anyone with a smartphone can earn a passive income by competing in fitness and sporting events regardless of where they live and the facilities they have access to.
Web3 game development is a highly sought-after skill. Blockchain game development is disrupting a multi-billion dollar industry. With the introduction of blockchain and crypto to sports, the scope for crypto adoption is unprecedented. If you want to become a Web3 game developer and create the next top move-to-earn apps, check out the Ethereum Dapp Programming course at Moralis Academy. In this course, we teach students everything they need to know to build and deploy their own decentralized applications (dapps). Also, you’ll learn how to use industry-standard toolings such as Web3.js, MetaMask, Truffle, and Ganache. Take your first steps towards a life-changing career as a blockchain developer with Moralis Academy!
Now that you’re familiar with the top move-to-earn apps, why not try them out and see if you can earn some crypto rewards yourself? Also, don’t forget to follow us on Twitter @MoralisAcademy. We’d love to hear your thoughts about the top move-to-earn apps. In addition, check out our “How to Invest During a Crypto Bear Market” and “Understanding Crypto Crashes” articles to learn how to navigate market downturns!
