- Move-to-earn or M2E projects reward users for maintaining a healthy lifestyle.
- STEPN (GMT) returned over 12% gains in the last seven days.
- Genopets is a move-to-earn NFT game on the Solana blockchain.
Move-to-earn projects are one of the hottest trends in the crypto industry now, with innovation driving their rapid growth. They claim to provide users rewards that can bring real benefits to their lives.
M2E projects reward users for exercising or maintaining a healthy lifestyle. They use technologies that can track users’ movements and reward them accordingly.
Here we explore three move-to-earn cryptos that gained significant popularity in recent days.
Data Source: CoinMarketCap.com
STEPN is one of the most discussed M2E projects and the largest by market cap in the move-to-earn space. It rewards users who follow a healthy lifestyle. STEPN uses a GPS solution to track users’ movements, effectively solving the issue of "proof-of-movement".
STEPN’s GST token is used as in-game currency earned by doing physical activities like running, jogging, walking, etc. Its other token GMT is exclusively used for governance.
GMT’s price was down 8.36% to US$0.8737 at 10:46 am ET on June 29. Its one-day volume fell 20.93% to US$313.70 million. Its market cap is US$524.20 million.
GMT returned 12.15% gains in the last seven days.
Genopets is another popular free-to-play and move-to-earn NFT game on the Solana blockchain. It is a pet-raising game and rewards users for caring for “spirit animals”. The pets grow as users nurture them. GENE tracks users’ movement as part of the P2E economics to reward them.
GENE is the governance and staking token of Genopets. It could be also used to create in-game non-fungible tokens. (NFTs).
The GENE token was priced at US$8.71 at 10:55 am ET on June 29, down 9.62%. Its one-day volume rose 17.55% to US$1.63 million. The token lost 13.08% in the last seven days.
Dotmoovs is a peer-to-peer sports competition platform. It uses an artificial intelligence (AI) algorithm to give scores for tricks and movements of the players who upload “skills videos".
Users can monetize their videos by investing in MOOV tokens. The platform has caught the social media users’ attention, with FIFA World Cup round the corner.
The MOOV token slipped 7.62% to US$0.01035 at 11:38 am ET on June 29, while its one-day volume ticked up 1.30% to US$1.27 million. Its price declined 7.75% over the last seven days.
Even though the move-to-earn or M2E projects have gained significant traction recently, the investors should also evaluate the risks and other uncertainties related to the crypto market before investing.
Meanwhile, the global crypto market cap tumbled 3.70% to US$897.46 billion at 11:41 am ET on June 29, and its volume for the trailing 24 hours rose 15.60% to US$65.46 billion.
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