Investing in finance and health with Move-to-earn, is it too late?
- Move-to-earn is much more attractive than regular GameFi Play-to-earn
- Move-to-earn still has a lot of headroom to grow
Move-to-earn is an element of Web3, the future of the Internet where users can truly own, control and monetize their data. The Move-to-earn trend has exploded after the success of the StepN project - with more than 500,000 daily app users. However, witnessing the explosion of the Move-to-earn trend, many people wonder: Is it really too late to invest in Move-to-earn? The following article of BHO Network hopes to untangle investors' concerns.
Move-to-earn is much more attractive than regular GameFi Play-to-earn
In order for a normal play-to-earn GameFi to have a sustainable economy - a vital factor for the survival of the project - 2 main factors are required:
- Having a need to play games for fun without being attached to the elements of making money
- The game profits from in-game spending, combining with a burning mechanism to maintain value for in-game items or currency.
Move-to-earn is not a play-to-earn game, so there won't be too much entertainment value. But running or walking will gain more attention because of the health benefits it brings. Especially in the post-pandemic context, when people try to get up from their desks and away from the computer screen to go out breathing fresh air and exercising, Move-to-earn seems to show up at the right time and the right place. Obviously walking for fitness (an activity one is willing to do for free), while also making money will be much more attractive than sitting next to the computer every day and suffering a repetitive play-to-earn game with no entertaining element at all.
In addition, after Move-to-earn gained great popularity, there were also many new unique Move-to-earn projects, much more improved compared to StepN. The Pyramid Walk project can be an ideal example: this Move-to-earn project is geared towards walking because walking is the most accessible and suitable activity for everyone, helping to expand the user base. In addition, Pyramid Walk also integrates Game and SocialFi elements into its application to attract and motivate players to walk more.
Move-to-earn has an undisputed attraction, which is the health and financial benefits it brings. Therefore, we can be confident that the Move-to-earn trend is still in its early stages, and will be even more explosive than the Play-to-earn Game in 2021.
Move-to-earn still has a lot of headroom to grow
In the same way that Axie Infinity created the Play-to-earn wave in 2021, the current heat of Move-to-earn is also the initial successful stepping stones towards a large-scale trend, changing the blockchain market as well as the way blockchain is applied in everyday life.
It can be said that Move-to-earn is the Web3 version of Social Fitness App - social networking applications specializing in physical training. The integration of the Social Fitness App with blockchain could be the key to a massive capital shift, because Move-to-earn has a huge competitive advantage.
In addition, thanks to its competitiveness and rapid popularity, Move-to-earn can also be perfectly applied to the traditional bodybuilding industry. “The global gym industry is worth $96.7 billion by 2020. In the United States alone, nearly 60 million people participated in walking, jogging and trail-running in 2017,” said a researcher from Huobi Research Institute. We can affirm that Move-to-earn has the potential to become an extremely large market in the future.
2021 is the year of GameFi Play-to-earn, and in 2022 there are signs that it will be the year of Move-to-earn. However, not every project has a stable and sustainable economic model, or is capable of attracting a steady stream of users. Therefore, investors still need to carefully evaluate projects before investing.
Published on June 11, 2022
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