When it comes to the cryptocurrency industry, there is no shortage of innovation and new ideas. Since the Decentralized Finance (DeFi) craze of 2020, we’ve seen a lot of these innovations in the cryptocurrency space.
NFTs, Play-to-Earn (P2E), the Metaverse, Programmable Stablecoins, and other new forms of innovation have been making the rounds in the cryptocurrency space since the DeFi summer of 2020, and they’ve gotten investors’ attention as more money and investment are made in these sectors. Move-to-earn is making waves right now, with several projects taking off almost immediately after being launched. Users who participate in physical activity are rewarded for it in the new industry buzzword, which follows the play-to-earn model.
What is StepWatch and how does it change the move-to-earn industry?
Making Sense Of The “Move to Earn” (M2E) Concept
Moving to earn is a new phenomenon that includes a wide range of products and services that reward users for their activity. Platforms that reward users for staying fit, unlock additional income streams through regular exercise, or participating in specific fitness challenges are becoming increasingly popular among internet users. Users who play these games are rewarded with cryptocurrency as a result of the P2E (pay-to-earn) trend.
For many people, getting fit and staying active is a means of earning extra money while reducing their risk of developing obesity and other health issues. Improved cardiorespiratory health has been shown to reduce mortality from both all causes as well as from specific diseases.
Many other apps reward users for their activity using the term move-to-earn’. Fitness-related tasks, such as walking, running, or swimming, can be rewarded in a variety of ways depending on the platform, but for the most part, users receive native utility tokens for completing these tasks. Using a cell phone or fitness tracker, the platform records this task completion before uploading it to the app and determining if it qualifies for rewards. Earned tokens can then be traded for goods and services within the application or traded for other cryptocurrencies on an internal or external exchange.
Physical exercise has almost become an afterthought in the current problem of people being too busy to give proper attention to their health. There isn’t enough emphasis on physical health in today’s clinically technological era. Exercise seems like a heavy task for some people because they feel they have “no time” to do it, and for others because they are so out of touch with physical activity in general.
Because the medical community is concerned, the physiotherapists are holding field days for their patients, during which they force them to engage in physical activity. Furthermore, the last two years of being confined to our homes have made us more inactive than ever. People used to go for runs in groups, use gyms, and walk the park strips back in the day. In all of these sessions, what is the common denominator? There was always a sense that they were working together, even if they weren’t speaking to each other. This interactive togetherness is lost when the activities become more distant and even the most ardent fitness freaks have become less committed.
Move-to-earn platforms have been created to combat all of these issues by bringing together cryptocurrency and health platforms to provide the much-needed interactive and incentivized elements for physical movement.
In the realm of health and fitness, StepWatch represents a quantum leap forward in innovation. In this case, the Move-to-Earn (M2E) model is being utilized. If you’re into bodybuilding or walking, this is the app for you. It’s built on the Web3 platform and features an integrated NFT game and social networking platform.
To participate in the game, you must either have a free NFT or purchase an NFT as a sports watch, and then walk or run to earn crypto and other NFTS. Items earned during the game can either be used in-game or sold for profit. It is possible to experience NFT for free or to purchase an NFT of your own, especially on a platform that wants to benefit users with MarketPlace and e-wallet inside the application.
Fitness-related tasks and regular exercise activities are rewarded by M2E platforms by providing an additional source of income for their users. To put it another way, it’s an extension of the play-to-earn model in which players are rewarded for completing tasks like leveling up and exploring the game’s vast expanses.
The process is straightforward. In StepWatch, players are automatically rewarded for physical activity based on their mobile device’s sensors. Users, on the other hand, will need to buy NFTs from the market to get started. The native utility token is given to users who engage in physical fitness activities. On the marketplace or an external exchange, tokens earned on the platform can be traded or swapped for other tokens.
As a bonus, StepWatch tokens can also be used to increase demand for new users and reduce selling pressure on third-party exchanges. As a result, the market value is kept stable and the move-to-earn rewards are worthwhile.
The three StepWatch modes, Solo, Team, and Mission, can be used by players to earn money and participate in the game without having to pay a fee.
- SOLO MODE:
StepWatch’s Solo mode is the most common training mode for individuals. The NFT, daily, and daily token energy limits (represented by the Performance bar) are dynamic. Tokens and energy are limited to a certain amount each day. Based on the NFT index and Performance bar.
- TEAM MODE:
Team mode is an advanced training mode for each member of a running team. There may be different productivity growth rates for each member of the team depending on the Captain’s NFTS. Team mode implementation necessitates that all members follow the same route.
SWE tokens can be exchanged for additional rewards through the daily quest system. It’s important to understand that there are a variety of mission systems out there. Take advantage of each mission to amass crypto for yourself.
Try StepWatch out while you’re already exercising, whether it’s jogging or something else. It’s just a matter of installing the apps and tracking their progress from time to time. Rather than having no income potential, it has the potential to generate passive income. StepWatch may be just what you need if you find it difficult to stay motivated or start your workout goals.
Investing in a cryptocurrency project is all about what you want to get out of it. If you aren’t sure what a protocol’s vision is, you should thoroughly research the market before investing.