Move to Earn Games: The Future of a Healthy Lifestyle
Regarding blockchain technology and the cryptocurrency industry, innovation seems to be a trend that will never end. In the meantime, rewarding user engagement and incentivizing human behavior have been revolutionary ideas in the development of the space.
Blockchain-based rewards have evolved daily, starting with play-to-earn (P2E) games that provide players rewards for having fun. Another emerging idea in cryptocurrency that is gaining a lot of traction is move-to-earn. Move-to-earn simply means that you earn while engaging in everyday activities, as you would have predicted.
Move-to-earn is a new application of blockchain-based rewards that promotes the incentivization of personal data from physical activities. Although new, it is gaining momentum as an income revenue stream in the crypto space. However, is this new blockchain use case the future of promoting sound body and mind, or will it be short-lived hype? Let’s take a closer look at its landscape.
What Are Move to Earn Games?
Move-to-earn games, as the name suggests, reward players for maintaining a healthy lifestyle through easy physical exercises. With the aid of these platforms, users can increase their income by swimming, running, or even walking.
They combine parts of fitness apps with elements of GameFi (Gaming and DeFi) to create new FitnessFi dynamics that reward users for working out.
Move-to-earn is probably not a novel idea. People who participated in the employer-sponsored wellness program and completed regular, non-crypto health activities received additional compensation. However, move-to-earn integration with blockchain technology is a critical step in furthering health promotion.
Apart from the incentives, move-to-earn games are especially useful to reduce the menace of chronic diseases due to inactivity. These apps can further reduce conditions like obesity, affecting more than 650 million globally. Meanwhile, it can also improve the cardiorespiratory system and quality of life while giving users a strong motivation to engage in physical activities.
How Do They Work?
Move-to-earn games aim to diversify blockchain-based rewards from gaming to health and lifestyle. The main selling point is rewarding players with utility tokens for participating in physical activities.
Data of the daily physical activities of users in move-to-earn games is collected by digital devices like GPS-enabled fitness trackers, wearables, or mobile phones. The data is synced with move-to-earn apps for assessment before allocating corresponding rewards. Although digital devices have their caveat, the move-to-earn concept layers another motivation.
Still, earning with move-to-earn games depends on many factors. An important determinant of in-game reward in move-to-earn games is the level of daily activity a participant can achieve. All things being equal, the higher your activity tolerance and achievement, the higher your earnings.
Another influential factor is the initial investment. Like play-to-earn games, the initial investment is important with move-to-earn games too. Generally, most move-to-earn games require purchasing and holding in-game NFTs or token assets.
Players can exchange their earned tokens for other in-game assets, including NFTs. They can also exchange the token for fiat currencies on crypto exchanges.
Viability and the Future of Move to Earn Games
With move-to-earn programs, getting started is simple. One thing to remember is that the program’s goal is to encourage daily activities rather than engage in them. Fortunately, this serves as adequate motivation. This implies that the game is over once the incentive component is removed.
The biggest danger of moving to earn appears to be saturation. No doubt, move-to-earn apps are useful for a wider range of audiences. Worldwide, there are billions of people that require inspiration to change their lifestyles through physical activity. With this oversaturation, success for these initiatives is all but impossible. For starters, there are only so many in-game tokens available. Thus, a healthy pricing point for perhaps several million players could not be possible.
Meanwhile, the more people participating in move-to-earn games, the lesser the reward each user will get since the total reward is capped. With a fixed reward pool or fixed reward cap per person, it can become more difficult to earn with more participants joining move-to-earn platforms.
On another note, it can result in a substantial increase in initial investment. So, you can start speculating about having to pay for real-life fitness kits and devices with huge entry barriers into these games in the future.
Furthermore, price action plays a significant role in determining the amount of in-game reward; it also directly influences the viability of move-to-earn games. This is because a sustainable in-game economy is the focal point of these games. Therefore, the more bearish the reward token, the less profitable the game.
Another threat to the growth and future of move-to-earn programs is manipulation. Using third-party digital devices creates a loophole to generate false data with bots or exploits. Although these games are working towards eliminating the issue, manipulation will eat away at some of the token supply.
All in all, it’s a positive movement. Many people use fitness trackers and wearables already, so it will be simple to layer this on top of their daily goal of 10,000 steps, for instance. Nevertheless, for a functioning economy, there needs to be used for the token generated that is genuinely desirable, which currently is a little lacking. It is certainly a trend to keep your eye on.
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