The Walk to Earn companies based on blockchain are drawing investors and users. Let’s take a closer look at the web3 trend.
Many sports-related companies have jumped on the blockchain bandwagon to reap the benefits of this cutting-edge technology. Both blockchain and athletics have taken over to get more popularity. Everybody comes out ahead.
Walking to earn money is a new sporting experience enabled by blockchain that’s been popping up recently (or Walk 2 Earn, W2E).
The Play-to-Earn principle underpins this innovative technology, which brings together cryptocurrencies, gaming, and physical activity. With the promise of motivating consumers to get in shape, it’s an attractive proposition. There’s no gain without pain. And here, it’s all about the profit. They earn more cryptocurrency if they have a larger number of users. The name itself should be enough to give you an idea of what it is.
What do you know about the upcoming Walk-to-Earn star, Stepn? Investigate more to learn more about this rapidly expanding sector.
Working out can earn you crypto rewards. Walk-to-Earn
Put on your running shoes (the real kind), buy some NFTs, and go for a real run to earn some cryptocurrency. Apps like W2E combine the benefits of physical activity with a financial incentive.
Whether or not it works is the question. A general lack of physical activity exacerbates the dangers of a sedentary lifestyle; therefore, Walk to Earn projects aim to encourage people to get more active by making it enjoyable and rewarding them for their efforts, which may be the best method to get those who haven’t exercised in the past to start. All they require is that they pay the entry fee (the first NFT).
A follow-up to Play 2 Earn
In 2021, gamers already familiar with cryptocurrency and how to use it embraced Play-to-Earn programs. Gaming is a way to acquire tokens that can be sold to produce additional cryptocurrency for gamers. Players don’t have to pay a membership fee or a subscription to play; instead, they get paid.
There is still a strong demand for Play-to-Earn (P2E) cryptocurrencies and a steady increase in the number of P2E users in the first quarter of 2022, according to a DappRadar analysis. More than $2.55 billion has been invested since the beginning of the year, proving that investors are on board.
In contrast, P2E blockchain games lack social features and encourage gamers to stay at home in front of their computers. Pyramid schemes for P2Es are another way to get new people to join in the fun and get more people involved. Players who have been with the game since the beginning complain that it gives preference to them at the expense of newer players. Moreover, the value of their tokens is sluggishly rising.
New so-called Walk to Earn App Development ventures debuted with developments that took off straight away (i.e., Stepn, see below) (i.e., Stepn, see below). A more active and healthy lifestyle is something that many people are desiring right now, and these initiatives aim to provide it. As long as you’re active for a decent amount of time, you can earn cryptocurrency with this strategy, which promotes users rather than penalizes them from getting up and moving around.
What is the procedure?
Walk-to-Earn projects have the same fundamental features.
An application for mobile devicesÂ
Walking track is a requirement if you’ve entered the world of “Walk-to-Earn.” Mobile phone GPS signals are currently being use in several popular projects. Smartwatches, which are quite popular among fitness buffs, should be able to connect to them eventually.
NFTs
You can’t participate in the game if you don’t have the first NFT for your W2E app. NFTs exist in different forms and sizes, from sneakers to robots to animals. You’ll need NFT shoes for Stepn since the game is mainly about running. NFT statistics (such as efficiency, speed, and resistance, for example) directly impact gameplay and its users’ abilities. [Note 1]
Tokens are use in the game.
When you walk, run, or swim, you earn game tokens, a form of cryptocurrency tied to gaming and the app’s algorithms. Tokens can be use to “fix” overused NFTs, generate new NFTs, improve NFT statistics, and so on. Tokens can, of course, be exchange for cash.
A symbol of authority
The quantity of governance tokens is different from that of game tokens: there are only a certain number. Only the most dedicated users will be rewarded with governance tokens, allowing them to participate in the project’s decision-making processes (such as the chance to vote on software) or gain access to more advanced features.
Now that you better understand W2E, it’s time to explore the most popular W2E initiatives.
Watch these four Walk-to-Earn initiatives.
Stepn
The popular Walk-to-Earn app, Stepn, should not be overlooked. App Store downloads for Health & Fitness now rank the app in the top 30 most popular downloads of 2022, with an estimated value of about $2 billion.
Sweatcoin
“A better world. ‘” Better health and more money.” Clear and precise.
Sweatcoin blazed the way for Walk-to-Earn apps by rewarding users for doing daily steps (it was release in 2016). You don’t need to buy an NFT to play and earn cryptocurrency, which makes it different from other W2E apps. So, how do you make a living? Partnering with a brand and an organization.
Dotmoovs
Blockchain and AI (artificial intelligence) are at the heart of the Dotmoovs platform. Competitions in virtual dancing and freestyle football can be held by athletes using this software platform.
A digital spirit animal is assign to each player in Genopets, a game based on the Solana blockchain in which they must raise and nurture their virtual pet. How? By completing step challenges daily.
Conclusion
Popular social health and fitness apps that encourage people to walk have been around for some time. W2E apps are the result of combining game logic with the opportunity for users to earn money. If you’re scratching the surface, you’ll witness a myriad of new ventures partnering with sporting events and businesses shortly.
