The popularity of Move to Earn concepts in the crypto industry continues to grow. At least that’s what a look at today’s app stores shows: the two most popular apps, Stepn and Sweatcoin, have more than 60 million downloads in common. Wondering how to invest?
“Today my run was amazing. I don’t have enough Solana tokens to buy the sneakers, but I’m still happy.”
Do you like to run, play sports and spend time outdoors? Are you also interested in crypto? Then you have just come across our article. Please don’t be like this Twitter user above. Because if you treat the subject a little, you will have enough Solana to buy sneakers.
Wait a minute? sneakers? Why can’t he buy sneakers? Are those of Gucci?
Strictly speaking, these are no ordinary sneakers. We are not talking less of an application 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 like NFT. These are generated in the fitness app along with other factors such as chips, stamina, 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 biggest players in the market are Stepn, Sweatcoin and OliveX with its dose token. Their common point is to want to revolutionize the crypo-fitness or Move to Earn market. Stepn combines elements from the Metaverse, NFT and Gamefi area. It seems to work, as the app 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 immediately create a whole fitness metaverse 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 capitalization. In just two months, the token went from 0.15 to 3.30 US dollars – a bullish trend. To make money jogging, you need an NFT from a sneaker. These are available in four different versions, from “pedestrian” to “sprinter”. At first, users could buy them for little money, but now the price is over 12 Solana. Converted to around US$1,100 – and the trend is also up.
At first, users need to buy an NFT sneaker, then turn on the cellphone’s GPS, and finally go for a run. Depending on the duration and speed of the running unit, GSM tokens can be earned. All rewards will be initially paid in GSM, which is why they are available in unlimited numbers. Since users need to burn GSM for various functions, the number of tokens in circulation should be kept within limits.
As can be seen in the image above, the factors of efficiency and “resilience” (i.e. repair) are considered to be decisive for your gains. If the efficiency factor is high, but the sole of your shoe is literally worn out, you gain little or no GSM. You do the repair with GSM, that’s why your daily earnings are always a bit reduced. This is exactly where investors see an opportunity to make money from gambling. Depending on the NFT shoe and fitness, the sneaker pays for itself within a month. Passive income ahoy.
This is complemented by a rental function, which should arrive in the fall of 2022. For example, if you own a shoe, you can loan it out for 30% of the profit. 70% stays with the runner. GMT tokens should be able to be staked in the future, but they already contain some features: Burning users’ GMT tokens can permanently increase revenue in GSM.
If you believe in the long-term project or just want to speculate, you can get more information in the white paper.
Sweatcoin – cryptocurrency coming in summer 2022
As the (almost) most popular crypto platform, the Sweatcoin app can already boast of 64 million users. Ratings on the App Store and Google Play also leave no doubt about the legitimacy: Sweatcoin scored 4.5 out of 5 stars there. The concept is child’s play. The only thing you have to do is start walking. The app looks like this:
Once you unlock access to your location, the app recognizes and records the steps you took for the day. how you make money Sweatcoin will launch its own SWEAT cryptocurrency in the summer of 2022 and every user should be credited with the corresponding number of tokens. If you register by email, the tokens will be automatically credited to your account. It cannot be said at this time whether the number of tokens will be limited in the future.
The market is particularly interesting. Hard-working athletes can buy products there for Sweatcoins or use coins for discounts. From wallets to durable water bottles, there is already a small selection of products. Sweatcoin donations are also possible!
OliveX wants to build a huge fitness metaverse in the future and uses the DOSE token for this. Dustland Runner and Rider are the names of the two games, which should appeal to runners and cyclists alike. For miles traveled, users are rewarded with Dose Tokens or NFTs. Players can upgrade their character for Box Tokens, thereby unlocking further missions. From the second quarter of 2022, it should also be possible to bet the DOSE won.
“Our mission is to onboard a billion people”, announced OliveX CEO and Founder Keith Rumjahn. Dustland Runner has already been well received by investors, with a cash injection of $5.7 million in 2021.
However, the token has been a bit under the wheels for the past few weeks. From 0.35 it went down to $0.09. Now might be a good time for extremely risk averse investors.
If you decide not to invest in any of the three projects, we hope you will at least enjoy the apps. If so, I hope in a few months you can tweet: Today my race was amazing. I finally have enough Solana tokens to buy my own shoe. Thanks @BeInCrypto.
All information contained on our website has been researched to the best of our knowledge and belief. Journalistic contributions are for general information purposes only. Any action taken by the reader based on information found on our website is entirely at their own risk.