What is Move-to-Earn? Top 5 Trending Move-to-Earn Projects in 2022

Move-to-Earn (M2E) has emerged as one of the hottest keywords in the crypto community as of March-April 2022, gradually becoming a new trend not only within the cryptocurrency space but also extending into broader society.

Firstly, it's crucial to understand what Move-to-Earn entails. This is a method where users earn money through bodily movements and activities. These activities are tracked and measured using sensor technologies and GPS on mobile phones.

How does Move-to-Earn work? Users need to install these applications and then connect their mobile GPS to begin tracking. Their movement data is stored on the blockchain, and once verified, rewards in the form of tokens are sent to their phones. These tokens can then be exchanged for other services within the app or traded on marketplaces.

Many Move-to-Earn applications also create additional types of tokens to increase demand in the cryptocurrency market, aiming to stabilize the token's value and reduce sell-off pressure on exchanges.

Ways to earn with Move-to-Earn apps:
Most Move-to-Earn apps reward users for exercising or moving, but there are other ways to earn cryptocurrency on these platforms, including:

1. Minting: Some apps have tiered membership systems that allow higher-tier users to earn by minting new types of NFTs.
2. Trading: Most Move-to-Earn apps reward tokens in games that can be traded on various exchanges like DEX and CEX.
3. Staking: Some Move-to-Earn apps also allow users to earn through staking, by placing bets in races, where correct predictions yield rewards.

Key Differences from Play-to-Earn:
One key difference with Move-to-Earn compared to Play-to-Earn is that users don't need to hold their phones for long periods; instead, they can move flexibly during any free time throughout the day.

Imagine being able to walk in the park or exercise outdoors and still earn money – that's an incredible concept.

This is a highly practical project in daily life, benefiting both health and economic aspects.

In my view, upcoming Move-to-Earn projects are likely to expand beyond the cryptocurrency field into broader social communities.

Top 5 Move-to-Earn Projects in 2022

STEPN
STEPN (GMT) stands out as the number one Move-to-Earn project, recently gaining significant attention in the cryptocurrency community. Launched in March 2022, STEPN operates within the Solana blockchain ecosystem and requires users to own or rent an NFT pair of shoes to begin.

The prices of these NFTs vary based on type, level, and quality, influencing the amount users can earn within the app. For example, during the token's initial price of $0.92, a basic NFT shoe could earn users 5 GST (~$4.60) per completed walk or run.

STEPN features two main tokens:

• GMT Token: Used for managing project governance and trading NFTs on the marketplace.
• GST Token: Used for upgrading and repairing NFTs, as well as enhancing gems, unlocking sockets, or resetting attributes of the shoes.

1. Genopets
   Genopets is a Move-to-Earn app on the Solana blockchain ecosystem, targeting all users, not just the crypto community. This standout game allows users to participate in activities such as running or playing football to earn EXP points, which are then used to nurture and upgrade their NFTs.

Genopets utilizes direct mobile software to track user activities, converting these metrics into EXP points for NFT growth and eventual sale on the marketplace.

1. Amazy
   Amazy is a Web3 platform encompassing multiple products: Move-to-Earn, Social-Fi, Game-Fi, NFT Marketplace, and Metaverse. It allows users to earn money while running, positioning itself as a significant player in the Move-to-Earn sector.

To participate, users need to own an NFT pair of shoes. After acquiring an NFT, they must download the platform's app and connect their purchased wallet to start earning. The app tracks GPS to measure distances and current running speeds, converting these metrics into earnings.

Besides running to earn, users can also generate income through:

• Renting NFTs to others.
• Creating new NFTs from their collections and selling them at higher prices.
• Trading items on the marketplace.

1. Step App
   Step App closely resembles STEPN, requiring users to own an NFT pair of shoes to participate. Like STEPN, these shoes can be upgraded for versatility. The project's token, KCAL, enables users to purchase NFT shoes and participate in various competitions.

Unlike other M2E platforms, Step App was community-driven by SHO, with additional support from DAO Maker, achieving a market cap of $348,000 upon launch. It has collaborated with top athletes and garnered significant user registrations.

1. Sweatcoin
   Sweatcoin is a free Move-to-Earn app that rewards users with SWEAT tokens based on their daily steps. These tokens can be used to purchase products, contribute to charity, or trade crypto.

Sweatcoin connects with Google Fit, Apple Fit, or default fitness apps on mobile devices to track daily steps, encouraging users to walk or run indoors or outdoors to earn Sweatcoins.

In conclusion, since its inception, many Move-to-Earn projects have achieved substantial success in terms of user volume and revenue. Overall, the Move-to-Earn concept is highly appealing and intuitive, accessible even to newcomers to the cryptocurrency field. Projects must continue to evolve to retain existing users and attract new ones while ensuring they create value for the community.