It seems like everything about the technology-driven world is good. Walk to earn is a niche in Web 3.0 that includes several products and services that pay people for being active. It is a trend that is gaining popularity in the cryptocurrency world right now.
Does it sound too good to be true? There is a catch, though. Most of the time, consumers have to pay a lot to start making money. Still, under the right circumstances, walk-to-earn apps could be an excellent way to make money and get people to be more active.
Here, we look at the current walk-to-earn landscapes and some of its essential apps.
Step into Web 3.0: walk to earn
In September 2021, the Web3 lifestyle app STEPN came up with the phrase “walk to earn,” which has since been used by many other apps that reward users for their activities.
Move to Earn platforms encourage users to stay active by giving them an extra way to make money when they do their regular workouts or participate in fitness challenges. It is base on the trend of “play-to-earn,” in which people get cryptocurrencies for playing games.
Most of the time, these systems encourage fitness, which can help reduce obesity and allow users to make money while improving their health. They encourage people to live healthier lives and make people curious about Web 3.0 technology.
Even though the ways these apps earn rewards are very different between platforms, almost all give users native utility tokens for doing fitness-related things like walking, jogging, or swimming. Earned tokens can be use immediately to buy goods and services within the app, or they can be sold or traded for other cryptocurrencies on an internal marketplace or an exchange outside the app.
Apps Walk to Earn
The best-known Web 3 lifestyle move-to-earn project is STEPN. To start making money with the Solana-based STEPN app, players need to own one of four types of NFT shoes: Walker, Jogger, Runner, or Trainer. There are many things about these that affect how much money they make.
Users who work out get Green Satoshi Tokens (GST), which they can sell on a compatible DEX/CEX or use in the STEPN app to mint, fix, and level up their sneakers.
Green Metaverse Token (GMT) is a second token linked to STEPN and used to run the platform. You can buy the cryptocurrency from third-party exchanges or earn it by wearing sneaker NFTs at level 30 or higher.
Step App (FITFI)
This App might be STEPN’s first direct competitor, is an Avalanche-based fitness app that pays people to be active.
Step App, the newest walk-to-earn platform, has learned a lot from STEPN and works in many of the same ways. For example, users must stake upgradeable sneaker NFTs (called SNEAKS) before they can start earning.
KCAL is the utility token and reward token for the platform. You can buy SNEAK NFTs with these. You get them by staking a SNEAK in the app. It gives users different ways to compete locally or globally and uses game mechanics to make exercise more fun and rewarding.
The FITFI token is the second ecosystem token for the Step app. It’s mainly use to manage the platform by figuring out burn rates, revenue splits, development milestones, and other parameters. Half of the money made by the platform is use to repurchase FITFI tokens from the market.
Besides the introductory “walk to earn” feature, the Step App also has:
Microtransactions: Users can use credit cards or cryptocurrency to buy character skins, sneak skins, and map styles from the in-app shop.
Staked play: Users can use their tickets to compete against friends or other gamers.
Wirtual was another one of the first companies in the “walk to earn” business. It is an app that pays users for fitness-related tasks like jogging, swimming, dancing and working out. It’s called “sweat mining” by Wirtual.
Users must first download the Wirtual app and sign up for an account before taking part in challenges and sending in their activity data to win WIRTUAL coins. Some challenges can be solved for free, while others cost money.
Users put into one of seven tiers based on how many WIRTUAL coins they have in their Wirtual wallet. When a user’s tier goes up, they can earn more WIRTUAL.
Users who don’t have more than 100 WIRTUAL can make up to 0.1 WIRTUAL daily.
Users with at least 10,000 WIRTUAL accounts can earn up to 3 WIRTUAL per day.
The platform has a market where people can buy NFTs that increase the amount of WIRTUAL they earn daily. The token’s current price of $0.65 amounts to about 6.5 cents per day for default users and $1.95 per day for Emerald users, not counting any benefits of owning NFTs.
It is a mobile app that lets people get rewarded for staying fit by doing things like walking, swimming, and cycling.
Sweatcoin differs from other walk-to-earn apps because it doesn’t pay users in bitcoin. Instead, it gives them “sweatcoins,” its reward points. Also, there is no initial commitment, so users can start making money as soon as they download the app and create an account.
Users can, however, pay for a premium membership that lets them earn more sweatcoins per day, access a premium marketplace, and make twice as many sweatcoins per hour. Each month, this costs $4.99.
Sweatcoins can also be give to other users, sold on third-party platforms (mostly peer-to-peer), or given to charities/NGOs through the Sweatcoins for Good reason program.
Genopets was the first game in the walk-to-earn niche and one of the earliest projects in the walk-to-earn place overall. Its goal was to make working out more fun.
Making the website more like a game gives people better care for their minds and bodies. They care for, fight, and change their digital pets, Genopets. These Genopets can be bought, sold, and exchanged; more importantly, pets can make you more money.
Genopets has a two-token economy, just like many other “walk to earn” apps.
The first token, $GENE, is the game’s governance token. It is use to control how the game and its processes are build.
The other token, called $KI, is the game currency that can be used to refine crystals and buy homes for Genopets to grow their numbers.
Genopets differs from other walk-to-earn platforms in that users can start making money immediately without making an initial investment. It is possible because Genopets is free-to-play, and users can mint and trade Genopet NFTs. Its pay-to-play model opens up new ways to make money, like in-game income in the form of $KI and the possibility of selling a variety of in-game NFTs, like crystals and habitats.
Are Games You Walk to Earn Money Worth It?
Many people interested in “walk to earn” games want to do one thing: make money by walking. Many users will make money, but their chances of doing so are usually base on the following:
The first money spent.
Most “walk-to-earn” apps require an initial investment in NFTs or a utility token. Rare NFTs and large amounts of tickets often give participants access to better walk-to-earn rewards. They can reduce the time it takes to get a positive return on ümraniye escort investment.
How busy you are
Since yields are usually directly related to how much a user moves around, those who move around a lot are more likely to make money.
Most walk-to-earn games give users a percentage of their utility token’s inflation or a fixed pool of rewards. These prizes are give to users based on how well they did compare to everyone else or based on a fixed limit per person. Most of the time, the incentives for each participant get smaller as more people join.
What Prices Do
Depending on how the price of the reward token changes, walk-to-earn apps can either lose money or make a lot of money. Users should remember that tickets with a lot of bearish price action are less likely to be profitable in the long run than those with bullish price action.
As more people join these networks and the reward pool split among more people, it will likely become harder to make money on many of them.
Suppose these apps keep getting more and more popular. In that case, the entry barrier may go up, making it more expensive to get a lot of tokens or powerful NFTs to get the best rate of return.
What’s next for the walk to earn?
There’s a lot to be excited about FitnessFi and cryptocurrency apps because they’re base on well-known ideas that keep people interested long after the initial excitement wears off. There are M2E apps that let you make money while doing something you like, like working out or exercising. You can check out the best Walk to Earn App Development companies, if you ever look into developing the app.
Most of the best Move to Earn crypto apps require you to spend a lot of money first. After investing, it’s easy to get around and make money, and it’s even easier to stay in shape while doing those things. It’s expect that more and more people will use apps that make crypto money in the future. If the entry fees are low, it makes sense to use M2E apps to increase your overall income.
When you use M2E apps, getting some exercise can help your wallet because you can earn cryptocurrency. With the right FitnessFi app, you can set personal and community goals, track distance and speed, set specific fitness goals, and keep track of calories burned.
The main goals of walk-to-earn apps are to help people get in shape, have fun, and make money. As you move through the stages, you’ll be able to unlock perks and rewards that will help you make more money and reach your goals with the best cryptocurrencies for making money.