New forms of innovation, such as NFTs, Metaverse, and others, have all made their way into the cryptocurrency space.
The cryptocurrency space has proven to be very dynamic, with limitless possibilities and rounds of innovation. We always see these innovations in the cryptocurrency, especially since the 2020 Decentralized Finance craze. Since the DeFi summer of 2020, new forms of innovation such as NFTs, Play-to-Earn (P2E), Metaverse, Programmable Stablecoins, and so on have made their rounds in the cryptocurrency space and have captured the attention of investors as more funds and investments make their marks in these industries/sectors. Following the popular play-to-earn model that most Metaverse and NFT coins adopted, a move-to-earn game development company is the current hype in the world of crypto.
Move-to-earn projects, as the name implies, allow users to earn rewards for walking, to run, dancing, or simply moving around. So, in the Metaverse, move-to-earn is the new strategy for obtaining free cryptos. Let us investigate!
What Makes M2E Appealing?
M2E apps enable users to earn passive income while performing routine physical tasks. M2E gamification is very similar to P2E (Play to Earn), in which users own in-game assets that can be exchanged for fiat or cryptocurrency based on their terms.
STEPN, MOOV, and Genopets are examples of games that revolve around the idea of rewarding or tokenizing physical movements. Some of these apps are still in Beta, but they are well worth checking out.
What’s All the Fuss About?
The heightened interest in STEPN is due to its governance token, Green Metaverse Token (GMT), which has increased by 24,500% since its token sale on Binance in March. In January, VC firms such as Sequoia Capital and others invested more than USD $5 million in a seed funding round. GMT’s rise can be attributed to its rapid user growth. STEPN’s Twitter followers have increased from around 50,000 a month in the beginning to 250,000 users today.
The Move-to-Earn Theory
The players will need to purchase NFT sneakers for STEPN. These NFT collectibles are mint-able and available in various designs, rarities, and quality levels. These virtual assets can be bought and sold on open NFT markets. STEPN operates on the SOLANA blockchain, and each NFT sneaker is worth at least 10 SOL, or approximately US$1,100. To be tokenized in these move-to-earn apps, you must purchase NFT sneakers. So, whenever the player moves, such as walking, running or jogging, the app begins tracking their movements and converts them to in-game tokens.
Here are some of the best Move-to-earn tokens to keep an eye on:
STEPN Earn-to-Move (M2E)
Stepn is a lifestyle application based on the Solana blockchain. It includes SocialFi and GameFi features. According to Find Satoshi Labs, the game’s founding company, users can earn between $25 and $4,500 per day. The game’s goal is to help users live a healthier lifestyle while also helping to reduce carbon emissions.
GMT and Its Applications
The ecosystem’s governance token is the Green Metaverse Token (GMT). Users can earn GMT by participating in Token Generation Events (TGE), running, and playing games. Owners can also use them to level up and change the names of their sneakers. They can also use to distribute premium content, such as high-level activities and game revenue. Gamers may also consider exchanging the token for USDC once their NFT sneakers reach level 30 or higher.
GST and Its Applications
GST is the utility token to use in-game purchases. They create every time a user moves, so their supply is infinite.
GST can be used for sneaker repairs and leveling up. Customers can use GST tokens to personalize their sneakers and improve gem goods. It, too, can be used to trade USDC.
WIRTUAL: Work Out to Get a Game
WIRTUAL is an April 2020 social network for fitness enthusiasts that will serve as a testing ground for virtual fitness competitions. WIRTUAL 2.0 was released earlier this year, and it included cryptocurrencies, NFT avatars, and a tracking system linked to smartwatches such as Strava, Garmin, and Fitbit.
Is it Possible to Make Money in the Metaverse?
Yes, it is possible to make money in the Metaverse! There are numerous ways to do so, and the earning potential is limitless!
The Metaverse Development Company allows investors to invest in cutting-edge technologies such as virtual reality (VR), blockchain, non-fungible tokens (NFTs), augmented reality (AR), and cryptocurrency. The growing interest in the Metaverse has driven up the prices of digital assets, creating opportunities for large profits.
With tech companies like NVIDIA, Meta, Microsoft, and others committing to building this next generation of social media, the Metaverse’s future appears brighter than ever.
Many celebrities, including Snoop Dogg and Paris Hilton, have invested in the Metaverse to create their virtual worlds. Other celebrities, including Eminem, Johnny Depp, and Ozzy Osbourne, have purchased NFTs, and some have launched their own NFT collections.
How Much Can I Profit from the Metaverse?
While there is no limit to how much money you can make from Metaverse, it is important to remember that investing in the Metaverse carries risks. However, if you’re skilled and can adapt quickly to changing trends, there are other ways to easily make money in the Metaverse.
A digital apparel creator, Nikki Fuego makes up to $40,000 per month with Metaverse simply by using design software to create avatar accessories. According to ZipRecruiter, AR/VR engineers working on the Metaverse can earn up to $114,000 annually. Game designers can earn between $60,000 and $80,000 per year.
Making Money in the Metaverse
Purchase and Sale of Digital Real Estate
By 2026, the digital real estate market does expect to grow by $5.37 billion. Prices have skyrocketed recently, with virtual land selling for as much as $4.3 million. Land on popular platforms like Otherside, Decentraland, and The Sandbox is in high demand. With proper research, individuals can easily earn massive profits by buying and selling digital real estate in the Metaverse.
Rent Out Your Metaverse Property
You may be able to rent out your space if you own virtual land in a good location. Businesses and individuals constantly look for prime spots to showcase their goods, artwork, and services. The rent value does determine by proximity to the virtual town center and other popular areas. Users can earn money by renting out these metaverse assets in-game and secondary marketplaces.
Participate in Concerts
Concerts have grown in popularity among metaverse users, and individuals can earn money by organizing or participating in a metaverse concert. Marshmello, Justin Bieber, David Guetta, and other celebrities have performed on metaverse platforms.
Obtain Sponsorship for Free Events
Individuals can also make money from the Metaverse by marketing events and attracting sponsors. Many event managers offer a commission for bringing in sponsors, which is a fantastic opportunity for people with strong marketing skills.
Develop Your Skills as a Metaverse Architect and Designer
Landowners in the Metaverse take their virtual homes very seriously. If you are creative, you can assist in designing various virtual structures in Metaverse and earn substantial sums of money through your design skills.
Establish a Digital Clothing Line
You can also create digital clothing accessories that users can wear through their avatars. Brands like Louis Vuitton, Gucci, and others have begun to create digital collections that are doing well in the Metaverse.
Participate in Virtual Labor
The Metaverse has created a plethora of opportunities for people with various skills. You can use your writing, artistic, or programming skills by searching for metaverse-related jobs online.
The Metaverse’s Future
There is a long way to go before tech companies realize their metaverse ambitions. Many brands, however, are already looking for ways to participate in the Metaverse. The future of the Metaverse is very exciting, with innovations such as haptic suits, virtual contact lenses, and more.
Individuals with the necessary skill set will have numerous opportunities to earn money due to this. The preceding section outlines numerous ways for users to prepare themselves to make money on the internet’s next generation.
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