Products that were created using blockchain technology have immensely evolved through the years. These innovations have now spanned to investments that earn users by doing physical tasks like playing, running, or simply walking in the real world. These crypto-assets are called move-to-earn tokens and are under the category of GameFi.
But the concept has been around for quite some time now. Lympo is a blockchain startup launched in 2018 that seeks to establish a global user-empowering ecosystem that rewards users in exchange for their data acquired through user-generated sports, health, and wellness. After lockdowns have been lifted, people now yearn for a healthier lifestyle incorporating physical indoor or outdoor activities in their daily routines. This has contributed to the popularity of move-to-earn blockchain platforms.
By utilizing these Dapps, users receive digital assets from these platforms as rewards. They also get to enjoy their preferred activity while earning tokens which can be monetized by trading or selling in crypto exchanges. It’s like hitting two birds with one stone. Although these platforms were built using blockchain, a very complex technology, the concept is rather simple but genius. How are these platforms created?
Move-to-earn platforms were a combination of GPS, NFTs, blockchain, and GameFi technologies to track people’s movements and enable them to receive rewards or benefits. Utilities in cryptocurrencies are very important for their sustainability. As a result of price correction, the prices of cryptocurrencies including move-to-earn tokens have plummeted to more than 80%. But despite this, their use cases in the real world is a guarantee that these platforms are here to stay.
Amid the anticipated crypto winter, users have found another means of earning free tokens by participating in move-to-earn platforms. What are the leading move-to-earn projects today?
Top Move-to-Earn Projects
To maximize earnings, these platforms would usually require users to invest a particular amount. Since these tokens have just recently gained traction, it is best to shell out your money to those that belong to leading projects. Here’s a list of the leading move-to-earn platforms based on their market cap in recent data by CoinGecko.
- StepN (GMT)
The platform is a Web3 lifestyle app that incorporates social and gamefi elements. By doing outdoor physical activities like walking, jogging, and running, users are rewarded with GST (Green Satoshi Token). StepN was built on the Solana network by app developer FindSatoshi Lab. The platform has now more than 2.3 million monthly active users.
To participate, users are required to purchase NFT sneakers in marketplaces like OpenSea to boost their earnings. As of writing, StepN NFT sneakers’ current floor price on OpenSea is now at 5 SOL or $187.35 with SOL (Solana) price at $37.47.
Users may choose to upgrade their NFT sneakers to maximize one or all of the four attributes namely Resilience, Luck, Comfort, and Efficiency. Users can choose from the four types which come at different optimal speeds: walker, jogger, runner, and trainer. GMT is the governance token of the platform. By burning GST/GMT, users can reset the attributes of the sneakers. A total of 20,000 genesis sneakers were made available on Solana and BNBChain network.
In recent data by Crypto. co, GMT (StepN) is now at $0.939597 which has a total supply of 6,000,000,000 GMT. GST-SOL ( Green Satoshi Token on Solana) on the other hand is now at $0.165864 and has a total supply of 183,698,601 GST-SOL. Its counterpart token on the Binance network GST-BSC (Green Satoshi Token on BSC) is valued at $0.366718 with a total supply of 55,179,751 GST-BSC.
- Step App (FITFI)
The move-to-earn platform is about to breach the 14 million mark which has now reached a total user of 13.9 million according to its website. Built on the Avalanche network, one of the “ETH killers”, the platform comes with a play-to-earn and move-to-earn model.
FITFI (Step App) is the governance token of the platform while KCAL is the utility although it is not yet listed on exchanges. The token will be used for staking purposes, repairing sneakers, minting new sneakers, and other in-game activities. It will also be used to incentivize users for their step counts.
It is a Web 3 gaming platform that trades your sweat into tokens. It offers rewards to users for staying fit with sufficient physical movement and to socialize with friends and other users on the platform. Users can also play and build on the Step Metaverse.
Despite its huge number of users, its NFT sneakers are sold at a very low price on OpenSea but not too far from that of StepN. The NFT sneakers have a current floor price of only 0.15 ETH or $175.88 with ETH (Ethereum) current price at $1,172.
In recent data by Crypto. co, FITFI (Step App) token is now at $ 0.0.093235 with a market cap of $37,753,241. It has a total supply of 5,000,000,000 FITFI with 410,000,000 FITFI currently in circulation.
- Genopets (GENE)
One of the pioneers among move-to-earn platforms, Genopets was launched in 2021. And similar to StepN, it was also built on the Solana network. But the platform is focused on pet raising with users earning GENE tokens through their movements while caring for their evolving “spirit animals”. The number of token rewards depends on the quality of care you give to your pet.
As users travel the Genoverse, they are challenged to upgrade their Genopet NFT by transforming their movement into GENE. The tokens can be used to enter competitions and participate in leaderboards on the platforms. Users can earn by monetizing their tokens by selling them to other users or selling their NFT pets on marketplaces.
GENE (Genopets) is the governance token in the platform while the KI token is a reward token that users earn when they purchase a Habitat. It is also used to evolve your Genopets, alchemize crystals, generate new habitats, and battle other users. XP or experience points are a state in a Genopet’s non-fungible token metadata that increases through your grinding efforts by taking steps every day. You can upgrade your Genopet with a sufficient amount of XP.
GENE (Genopets) has a current price of $6.31 with a total circulating supply of 3,855,423 GENE from the 100,000,000 GENE total supply.
- Dotmoovs (MOOV)
The platform incentivizes users with MOOV tokens after completing a workout using its Augmented Reality (AR) feature. The move-to-earn platform was built on the Ethereum network. It was founded by Pedro Lourenco and Salome Azevedo in 2021. It is an AI-driven app that monitors all users’ activities. Any attempt to cheat is eliminated as it implements fraud detection algorithms.
All users’ activities are recorded on their smartphones which they can also share with other participants on the platform. The MOOV (Dotmoovs) token can be used to compete with others, practice, and participate in challenges. They can also use it to buy, sell or rent NFTs including merchandise and other collectibles. On top of that, they can also stake their MOOV (Dotmoovs) token to earn rewards.
MOOV (Dotmoovs) has a total market cap of $9,448,606 with its current price of $0.011277. Currently ranked at #885 by Coinmarketcap, it has a total supply of 1,000,000,000 MOOV.
- OliveX (DOSE)
The platform is a GameFi with an Augmented Reality (AR) feature. Built on the Ethereum network, DOSE (OliveX) is the utility token of the move-to-earn platform. It was founded to allow real-world fitness for a hassle-free interaction with a digital universe. It also aims to open new opportunities for players to experience immersive gameplay and for brands, coaches, and influencers to utilize a new platform.
Users receive DOSE (OliveX) tokens as rewards which can be used to buy NFTs, join events, participate in game modes, and unlock items. DOSE was derived from the acronym of the chemicals released by the body when engaging in intensive workouts. D stands for Dopamine, O for Oxytocin, S for Serotonin, and E for Endorphin.
DOSE (OliveX) is ranked at #1449 in Coinmarketcap and has a total supply of 5,000,000,00 DOSE. It has a circulating supply of 296,831,879 DOSE and a market cap of $5,613,344 with its current price at $0.019006.
That wraps up our top move-to-earn crypto platforms. While investing in these GameFi projects can earn you a good sum of money, it is still best to “do your own research”. Always consider the risk before investing. Volatility should be one of your top considerations. With the current market correction, the digital assets of these platforms have tremendously dropped leaving investors at a loss. So, when investing in crypto, invest what you can only afford to lose.
