Move-to-earn brings exercise and physical fitness to the metaverse
Move-to-earn dapps are using blockchain technology to reward users for staying fit and healthy in the real world. The STEPN token is up 25% over the past week. The Dustland, part of OliveX’s fitness metaverse, has seen its user numbers increase by 723% during the same period. These are the platforms using blockchain technology to bring real benefits to people.
- Move-to-earn rewards systems are another step forward in bringing the metaverse and the real world closer together.
- Players earn rewards, tokens and currency for staying physically active.
- STEPN, OliveX and Genopets are just three of the platforms that are innovating in this space and breaking new ground for blockchain technology.
Jogging came to popular attention in the US in the 1960s. Over the past decade or so, with the growth of social media apps and a greater understanding of the importance of staying active, people’s focus has shifted more and more towards health and fitness. Athleisure is even a respected and fashionable style of clothing.
Against this backdrop, it seemed only a matter of time before blockchain technology was applied to gyms, jogging and physical activity.
Move-to-earn is Web3’s first step towards rewarding people in the metaverse for leading a healthy lifestyle in real life. Users of move-to-earn platforms can earn cryptocurrencies, NFTs and digital assets through the ancient practice of exercise.
Amidst the rise of fitness on the blockchain, we recognize a couple of key products: STEPN, OliveX and their The Dustlands platform, and Genopets. Each of these brings something new to the table, and rewards users for being active in their daily lives.
STEPN setting the pace
STEPN is a move-to-earn platform that rewards users for walking, jogging, running, and generally burning real-life energy. It is built on the Solana blockchain and is compatible with the BNB Chain. It aims to nudge millions of people towards a healthier lifestyle by offering rewards from leaving their desk and moving around outside.
Users need to download the STPEN app, create a wallet, transfer some SOL into it and purchase a Sneaker NFT. There’s a range of Sneakers to choose from and the rarer, more expensive ones boost a player’s earning potential.
Unlike some move-to-earn platforms that use the reward mechanic as one component of the overall gaming experience, the ultimate goal of STEPN is to be active. Buying NFTs allows players to do this. They can also trade these NFTs and rent them out to other people.
With most exercise apps, you can simply show your friends how far you’ve run and maybe earn some kudos. With STEPN, you can make real money, just by going for a jog.
The platform is based on a dual-token mechanism where Green Satoshi Tokens (GST) act as the in-game currency and Green Metaverse Tokens (GMT) act as the governance token. GMT is also known as STEPN.
Over the past 24 hours, GST is up 12.7% and GMT is up 22%. For the past 30 days of on-chain activity, STEPN is a new entry at number 8 on DappRadar’s BNB Chain social dapps rankings. It sits at number 37 on our rankings page for all Solana dapps.
OliveX is building an entire move-to-earn ecosystem
‘Move-to-earn is a game changer,’ said Keith Rumjahn, the 37 year old founder and CEO of OliveX. ‘For the first time ever, players have true digital ownership of their games, and game developers earn more because there’s no middleman. So it’s a win-win’.
OliveX is already one of the biggest players in the burgeoning move-to-earn sector. In November 2021, the company raised $5.7 million and developed Dustland Runner with the funds.
This was followed by the Dustland Rider and a staking functionality where players can stake their DOSE tokens and earn rewards. DOSE is on the Ethereum blockchain and is up 68% over the past 30 days.
Altogether, these games make up The Dustland ecosystem, which has seen the number of unique active wallets engaging with the dapp increase by 723% over the past week. It currently sits at the top of DappRadar’s Polygon Collectibles ranking pages.
OliveX is currently building a virtual fitness world in The Sandbox. A few years ago, this notion might have been met with derisive sniggers. Haters still resist the idea of the metaverse and many people see it as a flash in the pan that will never replace the physical world.
OliveX shows that there’s a way to combine real life activity with rewards in the digital space. It’s also showing that the online world is not trying to act as a new, disembodied substitute for our real world. With a bit of creativity and innovation, the two can act in harmony and be a force for good.
Genopets already combining move-to-earn with traditional gaming
We’ve written at DappRadar already about the successful move-to-earn platform Genopets. They recently unveiled their Habitats NFTs in a minting process that saw a subsequent surge in sales on the secondary marketplace.
Genopets, built on the Solana blockchain, combines classic MMO gameplay with a move-to-earn system that rewards people for getting out and about. Similar to STEPN, Genopets has two tokens: GENE, which is primarily used for governance and staking; and KI, which is the in-game currency.
Genopets players submit their fitness data and, in return for good performance, their Genopets avatars will evolve. With stronger, more evolved Genopets, players will fare better in battles and challenges within the game.
It’s this specific mechanic that makes Genopets the success that it is. The move-to-earn reward system is not something that was tacked on at the last minute as a gimmick. It makes sense that a game avatar will evolve as it actively trains and grows stronger. So it makes sense that the player should train in real life alongside in partnership with their digital character.
You can also keep up to date with how move-to-earn evolves by following our blog and our Twitter page. Check out where social and move-to-earn dapps sit in our rankings pages. Use our dedicated NFTs page to see if STEPN and The Dustland’s assets feature there.