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Move-to-Earn is a new idea for crypto projects that have been picked up by both users and developers. Move-to-earn projects are based on games that reward players with cryptocurrency just for working out. These games use technology to track players’ movements, so you can literally earn just by walking a number of steps, burning a certain amount of calories, cycling for a specific distance and so on.
The main boom of Move-to-Earn was made by the STEPN application, where you had to buy virtual sneakers and run, turning energy into internal currency. After STEPN’s rise, we have seen a number of competitors and alternative Move-to-Earn platforms coming up into the market, and in this article, we are going to explore them all starting with STEPN itself.
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Let's dive into this article...
1. STEPN
Link: www.stepn.com
Investment: $5 million.
Tokens: governance token — GMT, GST — internal currency.
Minimum amount to start: 11.95 SOL — the minimum cost of sneakers in the market.
Payback: 3-4 months, you can calculate by clicking here.
STEPN is a Web3 application built on the Solana blockchain. It is a web 3 lifestyle app with social-fi and game-fi elements players can make handsome earnings by walking, jogging, or running outdoors. The project was launched in January 2022. The essence of STEPN is that users receive an internal token for daily walking. It is a web 3 lifestyle app with social-fi and game-fi elements players can make handsome earnings by walking, jogging, or running outdoors.
To earn money, you need to buy special NFT sneakers. These sneakers can be pumped and improved in every possible way.
The project was invested by Sfermion, Solana Ventures, Sequoia Capital, Alameda Research, Folius Ventures, 6th Man Ventures, and others. The total investment is $5 million so far.
The project features two tokens: GMT, which is used for governance, and GST, which is used to reward players. The GST token is inflationary and has a limitless supply. The project implements token burning through:
The GMT token, which has a limited supply of 6 billion, is used for resetting attributes, customizing shoes, pumping pairs from levels 28 to 30, minting Rare and Legendary pairs, and minting crystals from levels 4 to 9.
2. Step App
Investment amount: $3.4 million.
Tokens: the main token is FITFI, and KCAL is a utility token.
Project status: Beta-test
The Step App is already being hailed as an alternative to STEPN. The concept is one-to-one, like STEPN. The applications even have almost the same interface. But there are still some differences. For example, the Step App will have a command mode and will not have access by codes. And the developers themselves plan to invite 10 million users.
The other day, a token sale took place on DAO Maker, where it was possible to sell FITFI for $1.7 billion. The application has two types of tokens: KCAL, which is burned to create and repair sneakers, and is awarded for the movement of users. And the FITFI token is used for staking and paying fees. FITFI has a limited issuance of $5 billion.
For the current period, the project has no investors. The developers claim that this application is for users, so they did not search for investors. But many believe that, most likely, they simply did not have time to attract.
Step App has Daniel Ritchie as their ambassador. He is the 2013 Men's 800m World Champion, 2x World Championship Silver Medalist, 4x World Cup Winner, and 2x World Cup Series Champion.
3. Genopets
Link: www.genopets.me
Investment: $8.3 million
Tokens: KI — used to create items, grow and develop genopets and players receive it, GENE — a management token.
Minimum amount to start: you can start without investments, but the wallet must have at least 0.001 SOL.
Payback: unknown.
Project status: Beta-test.
There are no sneakers in this game, unlike the previous two, but you may raise and create artificial creatures according to on your lifestyle. The software collects information about your activity, sleep, heart rate, and other factors. Tokens will be awarded based on these factors.
The project is currently in beta testing and its public launch is scheduled for Q3 2022.
A sum of $8.3 million was invested in Genopets by Konvoy Ventures, Pantera Capital, Old Fashion Research, Alameda Research, Solana Ventures, Xoogler Ventures, Mechanism Capital, and many others.
4. Dotmoovs
Link: www.dotmoovs.com
Investment: $840 000
Tokens: MOOV — awarded for activity, you can buy on exchanges, and win competitions.
The minimum amount to start: you can start without investments, and rent NFTs from other players.
Payback: unknown.
Project status: Beta-test.
The essence of the project is to reward athletes for training and tournaments. Participants can demonstrate their skills or participate in challenges, and for this they receive a MOOV token. There is its own evaluation and anti-fraud mechanism - artificial intelligence evaluates the player's skills through the camera and controls the honesty of tournaments. Currently, only football is available. And dancing for cryptocurrency is in a state of beta testing.
The project received investments of $840 000. Morningstar Ventures and Moonrock Capital are among the investors. The team is little known and they do not have any serious background in the crypto industry. Three well-known football players act as ambassadors: Luis Figo, Ricardo Quaresmo, Zhao Teixeira.
5. DOSE
Link: www.dosetoken.com
Investment amount: $500 000
Tokens: DOSE — awarded for activity in ecosystem projects. Can be used to buy NFTs.
Payback: unknown.
Project status: alpha testing.
OliveX is a company that aims to foster the love of a healthy lifestyle in its customers through fitness gamification. The goal of the project is not to create applications or individual games, but to create a metaverse of fitness. The token is DOSE, which can be spent to unlock new levels in story apps.
The project is currently developing the Dustland Runner and Dustland Rider apps that are currently in alpha testing. Users can download and try the apps, but they won't be able to earn tokens.
6. Calo App
Link: www.calo.run
Investment: $1.95 million
Tokens: CALO — awarded for movement, FIT — awarded for stamina.
Minimum amount to start: 200 FIT, they plan to introduce sneaker rental.
Payback: unknown.
Project status: beta-testing.
Calo App is a complete alternative to STEPN. You will need to buy sneakers and start running to earn tokens. Then these sneakers can be improved, repaired, upgraded, and updated.
Token burning is the same as in STEPN: for customization, leveling up, shoe repair, socket unlocking, coinage, and gems.
The project has raised investments of $1.95 million and is currently in alpha testing. Al Faisaliah Group, Nama Ventures, Nuwa Capital, and other VCs have invested in Calo app.
7. VicMove
Link: www.vicmove.com
Tokens: VIM — awarded for activity, can be bought on exchanges.
Minimum amount to start: 1 BNB.
Payback: unknown.
Project status: pre-launch.
The idea of the VicMove was almost completely taken as a basis and implemented under a different shell with small new details. First, you buy sneakers, and then by walking, running, and cycling, you earn in-game tokens that can be used for in-game activities or converted into fiat.
The shoes also have upgradeable stats, durability, and levels. Tokens are burned for repairs, the purchase of new sneakers, and resetting characteristics.
8. SEXN
Link: www.sexn.finance
Investment amount: 400 BNB.
Tokens: SST is a management token that can be bought and sold on exchanges, SOT is a token with unlimited supply, earned by users.
Minimum amount to start: unknown, for some modes you need to buy an NFT condom, which costs 1 BNB.
Payback: unknown.
Project status: pre-launch
SEXN is a project where you will be paid to have sex. There are two tokens in the game: SST — issued in the amount of 50 million and SOT — unlimited in volume. The SOT token will be burned when leveling up condoms and toys, repairing toys, and other activities.
The idea itself is interesting and caused diverse discussions among users. Someone believes in the project and runs to buy virtual condoms, while someone jokes and waits for the start to appreciate the concept of SEXN.
9. Cycgo
Link: www.cycgo.io
Tokens: GRT — has an unlimited supply and is earned when the user moves in solo mode, GCT — governance token, 6 million issued.
Minimum amount to start: you need to buy an NFT bike, the cost is from 0.5 BNB.
Payback: unknown.
Project status: pre-launch.
Almost a complete alternative of STEPN, but it's only for cycling. You will need to buy NFT and ride around the city on a real bike in order to receive tokens. The mechanics and ideas are the same as those of STEPN — you will not find anything new and unusual.
They plan to introduce bicycle rental and a credit system in the future.
10. RIDE2EARN
Link: www.ride2e.io
Tokens: RD2E — will be paid for every meter of cycling, issued in the amount of 1 billion tokens.
Minimum amount to start: you need to buy an NFT bike, the minimum cost has not been announced.
Payback: unknown.
Project status: pre-release.
Ride2Earn is another good alternative of STEPN which is a little bit similar to Cycgo. Users need to purchase an NFT bike and drive around the city to earn cryptocurrency.
RD2E tokens are awarded for each meter overcome. Bicycles have their own limit, and as soon as you reach it, tokens will stop accruing. While riding, the user can press the "Pause" button to take a break. There is no special information about the project team and investors.
11. SkateX
Link: www.skatex.io
Investment: $5 million.
Minimum amount to start: you need to buy an NFT skate, the minimum cost at the moment is 8.5 SOL.
Payback: unknown.
Project status: sale of skateboards.
SkateX offers 10 000 unique skateboards that you can use to drive around the city and make money on. There is not much specific information about the project since it is at a very early stage. However, now they at the stage whereby they are selling their skateboards.
Investors: Animoca Brands, Coinbase Ventures, Solana Ventures, Play Ventures and Cadenza Ventures.
12. DEFY
Link: www.defydisrupt.io
Investment: $3.5 million.
Minimum amount to start: unknown, you need to buy an NFT mask to start.
Tokens: FCOIN — an in-game currency for which you can buy NFT or exchange for a crypto-token, DEFY — a management token with an issue of 2.5 billion.
Payback: unknown.
Project Status: Alpha testing will begin in the second quarter of 2022.
DEFY is a mobile game created on the Polygon Layer 2 platform. You will need to explore the world, complete missions, and receive project tokens for this.
The team behind the project has extensive experience in developing mobile applications that have reached more than 700 000 users worldwide. The team collaborates with brands such as Apple, Adidas, Redbull, and MasterCard.
Investors: Animoca Brands, OliveXThe Spartan Group, GameFi Ventures, BIXIN, Polygon Studios, Unanimous Capital, PathDAO and Play It Forward DAO.
13. Moon Step
Link: www.moonstep.app
Tokens: SMT — awarded for burning calories, MS — awarded for activity.
Minimum amount to start: unknown, you need to buy sneakers on the market.
Project status: application and website release.
MoonStep is an alterantive of STEPN with similar mechanics and functionality. You will need to buy sneakers that MS will bring. Sneakers can be minted, repaired, improved, and so on.
14. Bike Rush
Link: www.bikerush.io
Investments: $1.5 million and $6.5 million.
Tokens: BST — awarded for activity, BRT — management token.
Minimum amount to start: unknown, you will need to buy an NFT bike.
Project status: testing.
Bike Rush is an application that will allow those who ride a bike to earn money. To start, you will need to buy NFT. The mechanics are the same as those of STEPN - be active and earn. If you want to earn more, spend tokens and improve your transport.
The CEO of the project is the founder of the Berlin Cycling Association and its investors include Negentropy Capital, LinkVC Capital, Wall Street hedge fund Vingo Capital.
15. Step
Link: www.walkwithstep.io
Investment: Approximately $3 million.
Tokens: STEP — used as rewards.
Minimum amount to start: 18 000 Step tokens or 1 NFT.
Payback: there is a payback calculator on the main page of the site.
With Step, you need to walk between 4 000 and 30 000 steps a day to make money with this app. Users say that you can receive up to $15 per day while using Step.
16. Sweatcoin
Link: www.sweatco.in
Tokens: Sweatcoin
Minimum amount to start: you can start using it for free.
Payback: you earn no money, but vouchers for the purchase of items.
Sweatcoin is a step-counting app that allows users to save money on clothes, appliances, or services. The application has two packages:
Tokens are exchanged for coupons inside the mobile application, and users themselves set the price. For example, a $1 000 Amazon card could be purchased by 28 641 Sweatcoins. Users can get cards for purchases at Adidas, Nike, Zara, Apple, and other stores. They can also exchange coins for discount coupons to buy discounted goods on Sweatcoin’s partner site.
17. Bikearn
Link: www.bikearn.com
Tokens: RTE
Minimum amount to start: unknown, you need to buy an NFT bike.
Project status: beta test.
Bikearn is for those who love cycling and want to monetize their hobby. The project is currently undergoing a token sale.
There are three modes:
Each mode has its own rewards and rules.
The team is unknown and there is no investment information, but quite a lot of reviews and live chat.
Conclusion
M2E projects will appear on the market for some time. This format opened up new opportunities for developers, and they will use it as long as it does not bother users. Some projects are made from scratch, and some are quite well-known applications in which they decided to implement blockchain for further development.
The projects offer their users a way to earn money while advocating for fitness which is something positive for the users and we are excited to see how far these projects advance.
