Have you heard about a new business model in the crypto industry called Move-to-Earn (M2E)? It's about tokenization of various forms of physical activity. According to the idea, this model should provoke more people to an active lifestyle, which will be encouraged by the tokens of the corresponding blockchain application.
At the moment, the most famous project is STEPN and their token STEPN (GMT), which has already raised almost $2 million in capitalization.
What do you think, what is the future of this business model and will there be a hype for such tokens?
They just change the mechanics but it’s still play to earn which is already saturated on crypto market. StepN gain attention because they launch on Binance to get the funds. There’s nothing new on this idea besides it will encourage user to exercise but I wonder if this will be cheat proof because I’m playing Pokemon Go and there’s a cheat that you can walk virtually without doing the physical walk. I saw many new project starting to copy this kind of model.
I also think like this, it may seem like it is a new model or something but since you are still paid to do something then this is nothing but the P2E model with a variation to make it seem like a new thing when that is not the case, so what do I expect out of this? Not much, maybe people are going to get hyped about it and then we could see a lot of coins like that, but like most of the time people are just going to waste their time and efforts as I do not see how this can be sustained long term.