November 5th, 2023, 9:30 a.m. |
Reading time: 6 minutes
Kill two birds with one stone, get fit and make money in the process. Is that possible? That exists. Everyone can not only go for a walk, but also earn something while doing it. What sounds brilliant is actually brilliant and is often quite entertaining. TECHBOOK throws under the keyword “Move to Earn” a look at fitness apps that bring in cryptos.
Move to Earn means that users of an app are rewarded for keeping fit. Among the crypto fitness apps, STEPN is the most important with a market cap of several hundred million US dollars. And yet she is just one of many.
Fitness for crypto – what’s behind the concept?
That almost sounds too good to be true. How much does such an app cost? Surely there is a catch? In most cases there is actually no catch. By downloading free apps, anyone can earn cryptocurrencies while jogging or walking. The creators of the apps are often also holders of their cryptocurrencies on a large scale. This means that no user contributions are required to run the apps profitably.
The “wandered” and “jogged” cryptos can be traded on crypto exchanges and can be exchanged there for euros or other currencies. However, the amounts that come together here every day are not huge. Anyone expecting a serious income will be disappointed.
STEP However, it has its own marketplace in the app where, for example, virtual sneakers can be traded. And: The Stepn token GMT is sold and traded on practically all major exchanges such as Binance, Coinbase, Kraken or KuCoin.
More than just free cryptos
And what else can fitness apps do? In fact, they can often do a lot more, as a look at the next app shows. The challenger in the fitness market is called the sweat economy. Two apps belong together and complement each other.
The Sweatcoin app On the one hand, it is responsible for everything that is walked daily up to the limit of 5000 steps. There are discounts, giveaways and gift vouchers for this. Anything tracked by the fitness app can be converted into cryptos.
This is where the partner app comes into play: Sweat Wallet. In addition to storing sweat tokens, it also offers other functions such as “Learn to Earn”. You can earn extra tokens through small multiple choice tests. In this way, the user learns important basic principles that are necessary to move safely and knowledgeably in the crypto world.
There is also a gambling element. An amount is determined by spinning a virtual wheel of fortune. This earned “surcharge” will be credited to you after watching an advertising block. You can also increase your tokens by staking them for a set period of time. By staking tokens, the operation of the blockchain is technically secured. In return, you receive a double-digit interest rate for the time in which you forego access to your crypto tokens.
Finally, the app also offers a number of chances to win vouchers, smartphones, long-distance trips, laptops and the like. In order to get into the raffles, you have to pay a small portion of your crypto as a donation. Fractions of cents are what we’re talking about here.
More articles
Fitness next level
If you like something chic and even more original, you could Genopets be right. This fitness app is actually an NFT game that comes with attractive graphics and generates GENE tokens.
The basic idea is a bit reminiscent of the good old Tamagotchi from the 90s, only this time it’s virtual and stylish. Anyone who jogs or hikes is doing something good for their virtual “Spirit Animal” in the app. The digital pet, with which an emotional bond should and can develop, thanks you with well-being and more tokens that it drops. If you still want to part with your virtual pet at some point while traveling through the Genoverse, you can offer it to potential buyers as an NFT on the app’s internal marketplace.
The fitness app Dotmoovs puts artificial intelligence at the center of its offering. With the help of augmented reality, the app can do a lot of things that competitors don’t offer. The element of competition with other app users is particularly innovative and leads to global sports tournaments that can be held in the app.
Even dance moves or juggling with football and soon fitness are offers that are special and make it worthwhile for many people to try out the app. The app’s own token is called MOOV and can be traded on the crypto exchanges GATE or MEXC, for example.
The app MetaGym also offers a smartwatch app and avatars for users, which can even be loaned out in exchange for cryptocurrency.
All apps described are available for download not only for Android, but also as an iOS version.
Also read: Cryptocurrencies – what’s wrong with digital money?
Trending fitness apps
Where does the hype about fitness apps and crypto come from? Move to Earn with its HealthFi mechanisms, i.e. crypto-earnings through health, would have to be invented immediately by our sedentary society if it wasn’t already there. It’s basically a no-brainer and no-brainer. Because: Why not get paid for things you do anyway, say the sports freaks. Why not just use the reward as an incentive to start what you’ve wanted to do for a long time, say those who don’t like sports.
For the crypto movement, it’s another chance to drive mass adoption of cryptocurrencies with fun and emotion. Movement is the trigger for getting started – because investments are not necessary for users. And yet it is only through exercise and physical activity that one has access to cryptocurrencies and experiences the possibilities that lie behind them.
Finally, the respective community of the apps is also an argument for “M2E”, as Move to Earn is also abbreviated. In social networks, the fans of the respective apps organize themselves into large global communities that communicate with one another. Making friends on other continents by using a fitness app – if an additional argument were needed, this would be one of the best.