The move-to-earn economy has been around for a while, but with continued improvement in virtual and augmented reality technologies, it's about to take off. These new apps with native cryptocurrencies and NFTs allow users to earn rewards for doing things they already do, like walking, running, biking, or swimming.
You can make money while working towards a fitness goal by tracking physical activity in a move-to-earn app and earn points for fitness activities when you sync your fitness tracker. You can also make money by joining a fitness-related game where you bet on yourself to reach a fitness goal.
Legacy move-to-earn apps for mobile phones are migrating to Web3. Apps built on a blockchain allow users to join fitness challenges by holding an NFT, and rewards are paid out in cryptocurrency tokens. The emergence of virtual fitness communities that reward you for physical activity can help you hold yourself accountable while you make some extra cash.
Move-to-earn apps won’t make you rich overnight, and it is uncertain what value move-to-earn cryptocurrencies will have in the long run. Move-to-earn apps can incentivize you to adopt habits that are good for you. Here are some of the most popular move-to-earn apps that you can use to get paid to exercise.
What Is Move-To-Earn?
Move-to-earn is the gamification of physical activities to promote health and wellness. Participants sync their fitness trackers with a participating app or register to join a challenge sponsored by a move-to-earn platform.
While move-to-earn apps make it easier to get paid to exercise, the idea isn’t entirely new. Employer-sponsored wellness programs incentivize good health through rewards. Move-to-earn apps use the same logic, rewarding users for exercising. Companies with a corporate wellness program will give discounts or gift cards to employees if they go to the gym or complete specific wellness-related tasks.
The compensation varies and is based on performance. Some platforms require a buy-in to participate and winners who successfully complete a fitness challenge split the prize money at the end. Other platforms sync with your fitness tracker and award users points for things like tracking steps.
Move-to-earn crypto apps take this a step further by using cryptocurrencies and NFTs. These digital tokens represent assets that could appreciate beyond a user’s active participation in a digital fitness game.
Third-party exchanges allow token holders to trade or sell NFTs for cryptocurrency and eventually liquidate them into cash. However, the platforms employing NFTs are still being built, and it is uncertain what, if any, value move-to-earn NFTs will hold in the future.
The Best Move-To-Earn Apps
|Evidation||Passive data tracking through fitness devices and apps||Earn points for activity that can be paid out through PayPal.|
|WayBetter||Betting on completing specific fitness challenges within a period of time||Participants pay an entry fee to participate and winners who successfully complete the challenge split the pot at the end.|
|Healthy Wage||Betting on a weight loss goal within a period of time||Participants make a wager on how much weight they can lose in a period of time and those who successfully complete the challenge make their initial wager back, plus a bonus.|
|Sweatcoin||Earning rewards for tracking fitness activity||Earn sweatcoins (SWEAT) for activity that can be used to unlock discounts or donated to a participating charity.|
|Stepn||Earning crypto for movement||Earn native GST tokens for every minute of exercise tracked by the app.|
|Step App||Earning crypto for walking||Earn native STEP tokens for steps tracked in the app.|
|JustMove||Earn rewards by moving in the metaverse||Earn virtual currency and NFTs for participating in virtual reality fitness activities.|
Evidation is a mobile app that rewards users for tracking health-related activities like walking, sleeping, or completing wellness-related surveys. The app syncs with fitness devices like FitBit or Apple Watch and integrates with fitness apps like Strava and MyFitnessPal.
Users earn points for every activity they complete. The more activities a user completes, the more points they can earn. They earn $10 for every 10,000 points recorded in the app. When a user is ready to cash out, they can opt for payment via PayPal, a pre-paid Visa card, a gift card, or they can donate their earnings to charity.
WayBetter offers fitness games that users can play to reach health-related goals. Games focus on physical activities like running and walking and general wellness activities like dieting.
Users download the app and pay a one-time entry fee to join a game to play. The app pools all the entry fees from the participants. The more users playing the game, the bigger the pot will get. Winners who successfully complete the challenge split the pot once the game ends.
WayBetter also offers a premium paid membership plan. Users can access up to 10 games per month and join member-only games. By playing more games at once, members have the opportunity to earn even more money.
HealthyWage is a weight-loss challenge platform where users bet they can lose a specific amount of weight in a defined period. Users have the opportunity to create their own individual challenge or build a group challenge for family and friends to participate in together.
There is no fixed bet for HealthyWage. Instead, users set their own bet called a HealthyWager. Users set the timeframe of their goal and the amount of money they are willing to bet each month. The end prize is unique to each player and varies based on how much weight a participant is planning to lose, the amount of time they think it will take, and the amount of money they bet every month.
Players can increase their earnings by paying a one-time entry fee to join a group fitness challenge. Winners who successfully reach their goal split the pot at the end of the challenge. Activity challenges can supplement a HealthyWager and increase a user’s overall earnings potential.
Sweatcoin is a mobile app that uses in-house points called “sweatcoin” (SWEAT) to reward users for every step they take. Users can redeem sweatcoin in the app’s marketplace to unlock exclusive product discounts, or they can donate them to a participating charity.
There isn’t an official way to convert sweatcoin into cash just yet. The creators of Sweatcoin are working to move it onto a blockchain where native cryptocurrency SWEAT can be traded on digital exchanges. In the meantime, a handful of third-party websites buy sweatcoin and pay through PayPal or CashApp.
Stepn is the pioneer of blockchain-based move-to-earn apps. Its users earn native cryptocurrency tokens built on the Solana blockchain that they can convert on a participating exchange.
To join Stepn, users need a Stepn sneaker NFT. Each NFT represents four different levels of activity. Each level comes with its own corresponding crypto payout rate. The more active you are at the highest activity level, the more you can earn.
What sets Stepn apart from other move-to-earn platforms is the ability to rent NFT sneakers to other players and earn a share of their revenue. As crypto-based move-to-earn apps add more users, this feature could allow owners of Stepn NFTs to turn their sneakers into a new digital passive income stream.
6. Step App
The Step App is the first direct competitor to Stepn to enter the crypto move-to-earn economy. Like Stepn, the Step App allows users to earn native cryptocurrency for performing fitness activities.
Step App aims to create a “gamified metaverse for the fitness economy.” To participate, users have to purchase a SNEAK NFT. While it is unclear how players can earn money from activity, NFTs can be sold on third-party marketplaces like Opensea.io.
JustMove is a mobile app that connects to fitness trackers and virtual reality systems like Oculus Meta Quest. This allows players to earn cryptocurrency and NFT rewards in the real world and the metaverse.
The JustMove ecosystem is built on a Polygon smart chain protocol. Players can trade or sell their NFTs on the in-platform marketplace. Users can also use their tokens to purchase fitness coaching services from affiliated partners.
The Bottom Line
Move-to-earn isn’t a new concept, but it’s rapidly growing due to the expansion of blockchain technology and virtual reality. The development of the metaverse will create new ways for users to make money from physical activity. While these apps aren’t huge money-makers, they do compensate you for things you’re already doing – like walking – and can incentivize you to adopt a healthier lifestyle.
Mobile apps allow users to earn points that they can exchange for cash. Blockchain-based apps, however, utilize NFTs and cryptocurrency tokens. These digital assets can be leased to other users or could appreciate as demand grows.
The digital fitness economy is still under construction, which means that the long-term value of in-games tokens and NFTs is uncertain. It will depend on widespread user adoption. But the more that move-to-earn apps and blockchain-based games grow in popularity, the more valuable these digital assets could become.
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