Move-to-Earn Meaning

Jun 5, 2024 | Updated Jun 5, 2024

Move-to-Earn is a concept in the Web3 ecosystem through which people are rewarded for physical activities like walking, jogging, and running.

What is Move-to-Earn (M2E)?

Move-to-earn (M2E) refers to a subset of decentralized protocols or applications (dApps) that incentivize exercise using blockchain technology, NFTs, DeFi, and gamification.

M2E platforms generally require users to purchase an ecosystem NFT in order to participate (though some may offer limited functionality for non-NFT holders). Then, the M2E dApp makes use of the sensors in users’ mobile devices to track their physical activities. The specific activities that the dApp registers can vary between applications. The data captured during these activities is then used to issue player rewards. These rewards are usually crypto tokens that can be used to trade or purchase upgrades within the platform, or traded on third-party platforms.

Users’ physical activity earns them crypto rewards. This is what sets this form of earning crypto apart from other ones that rely on on-screen interactions like Play-to-Earn or Learn-to-Earn. Move-to-Earn (or M2E for short), allows people to incentivize their daily physical activities and motivates them to get moving in the age of screens.

How Can You Earn with M2E?

Earning with M2E is pretty straightforward, though the specifics depend on the type of dApp you choose. Some of the common ways to earn crypto via M2E involve:

Exercising: Platforms like STEPN give tokens like GST for the number of steps taken by users, making them engage in regular exercise.

Minting: One can also mint NFTs like virtual sneakers that can be sold and exchanged within the game for any desired coin increase by the game.
Trading: Gaming platforms will allow users to trade in-game items and NFTs via secondary markets such as OpenSea, which unlocks new income sources for players.

Staking: M2E platforms also allow crypto staking, where users can lock their assets for a period of time, and in return, get interest or rewards over time. For example, Step App allows perpetual staking of its FITFI tokens.
Challenges and Competitions: One can even seek fitness challenges and competing with other users which can also give rewards. It gives the whole fitness routines a gaming appeal and therefore making them more exciting.

Overall, Move-to-Earn merges the fields of fitness and finance, using the blockchain to create a new form of motivation and gamification for physical activities, thus encouraging healthier habits.