The popularity of Move to Earn concepts in the crypto sector is steadily increasing. At least that’s what a look at current app stores shows: The two most popular apps, Stepn and Sweatcoin, have more than 60 million downloads in common. Are you in doubt about how to invest?
“Today my race was great. I do not have enough Solana tokens to buy sneakers, but I am still happy.”
Do you like running, playing sports and spending time in the fresh air? Are you also interested in crypto? Then you have just come across our article. Do not do it like this Twitter user over. Because if you deal a little with the case, you have enough Solana to buy sneakers.
Please wait? sneakers? Why can he not buy sneakers? Are they from Gucci?
These are not strictly ordinary sneakers. We’re talking about no less an app than STEPN, the flagship of the Move to Earn area. The company has been active and selling in the crypto market for about 6 months Sneaker as NFT. These are generated in the fitness app along with other factors such as tokens, endurance, speed and more. literally money. Well-known competitors in the industry also work with the Move to Earn concept, but show clear differences in gameplay and business model.
The three largest players on the market are Stepn, Sweatcoin and OliveX with its dose stick. Common to them is that they want to revolutionize the crypo fitness market or Move to Earn. Stepn combines elements from the Metaverse, NFT and Gamefi area. It seems to work as the app has had 2.3 million active users in the last month:
Sweatcoin, on the other hand, even has over 64 million users. OliveX, as the third competitor, wants to build an entire fitness metavers right away and has already created two games for this, Dunstland -Rider and -Runner.
With the new combination, the Stepn app with its GMT token now ranks 48th among all cryptocurrencies by market value. In just two months, the token rose from $ 0.15 to $ 3.30 – a bullish trend. To make money on jogging, you need an NFT from a sneaker. These are available in four different versions, from “pedestrian” to “sprinter”. In the beginning, users could buy them for little money, but now the price is over 12 Solana. Converted to around 1,100 US dollars – and the trend is also rising.
As a first step, users need to buy a sneaker NFT, then activate the mobile phone’s GPS and finally run a ride. Depending on the duration and speed of the drive unit, GSM tokens can be earned. All rewards will originally paid as GSM, why they are available in unlimited numbers. Since users have to burn GSM for various functions, the number of tokens in circulation should be kept within the limits.
As can be seen in the image above, the factors of efficiency and “resilience” (ie repair) are considered to be crucial to your earnings. If the efficiency factor is high, but your shoe sole is literally worn down, you earn little or no GSM. You carry out the repair with GSM, which is why your daily earnings are always slightly reduced. This is exactly where investors see an opportunity to make money on the game. Depending on the NFT shoe and the physical condition, the sneaker is paid out in one month. Passive income ahoy.
The whole thing is topped off with a rental function, which should come in the autumn of 2022. If you own a shoe, for example, you can borrow it for 30% of the profit. 70% is left with the runner. The GMT tokens should be able to be bet in the future, but they already contain some features: Burning user GMT tokens can permanently increase GSM earnings.
If you believe in the project in the long run or just want to speculate, you can get more information in the White Paper.
Sweatcoin – cryptocurrency coming in the summer of 2022
As the most popular (almost) crypto platform, the Sweatcoin app can already look back on 64 million users. The ratings in the App and Google Play stores also leave no doubt about the legitimacy: Sweatcoin achieved 4.5 stars out of 5 there. The concept is child’s play. All you have to do is start walking. The app looks like this:
Once you have unlocked access to your location, the app recognizes and pulls the steps you have taken for the day. how to make money Sweatcoin will launch its own cryptocurrency SWEAT in the summer of 2022 and every user should be credited with the corresponding number of tokens. If you sign up via email, the tokens will be automatically credited to your account. Whether the number of tokens will be limited in the future can not be said at present.
The marketplace is particularly interesting. Hard-working athletes can buy products there for Sweatcoins or use coins for discounts. From wallets to sustainable drinking bottles, there is already a small selection of products there. Donations in Sweatcoin are also possible!
OliveX wants to build a giant fitness metavers in the future and uses the token DOSE for this. Dustland Runner and Rider are the names of the two games that should appeal to both runners and cyclists. For miles driven, users are rewarded with dose tokens or NFTs. Players can upgrade their character to canned tokens, thus unlocking additional missions. From the second quarter of 2022, it should also be possible to invest in the earned DOSE.
“Our mission is to get a billion people on board”, announced CEO and founder of OliveX, Keith Rumjahn. The Dustland Runner has already been well received by investors with a cash injection of $ 5.7 million by 2021.
However, the token has been a bit under the wheels for the last few weeks. From 0.35 it went down to $ 0.09. Maybe now would be the right time for investors who are extremely risk-averse.
If you decide not to invest in any of the three projects, we hope you enjoy the apps at least. If so, you will hopefully be able to tweet within a few months: Today my race was incredible. I finally have enough Solana tokens to buy my own shoes. Thanks @BeInCrypto.
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