After STEPN became popular, what other M2E projects are worth paying attention to?

With the continued surge in the number of global users and token prices, STEPN, which focuses on the "Move to Earn" (M2E) model, has become a dark horse in the GameFi track and a "celebrity check-in spot" for players inside and outside the circle. There has even been FOMO behavior of recruiting students with sports expertise and deliverymen to complete tasks.

In fact, as the COVID-19 pandemic continues to rage around the world, people's lives, work, entertainment and other activities have begun to migrate from reality to virtual contexts, including the sports industry. In addition to well-known sports brands such as Nike and Adidas trying out NFT and the metaverse, the demand for sports Web3 projects including STEPN has also begun to surge. This article will take stock of the Web3 sports projects in the market that are worth paying attention to.

STEPN

STEPN is a Web3 product based on Solana that combines the Move to Earn model with SocialFi elements. The mobile app is now available. STEPN allows users to own NFTs in the form of sneakers and earn tokens by walking or running outdoors in the real world to earn income. In January this year, STEPN completed a $5 million seed round led by Sequoia India and Folius Ventures.

According to official disclosures, STEPN earned more than $26 million in royalties and fees from in-app NFT market transactions in the first quarter of this year, with a total transaction volume of approximately $446 million. At the same time, the team plans to use the profit to repurchase and destroy the GMT token in the secondary market. According to Dune Analytics data, as of April 2, the total number of active users of STEPN exceeded 78,000.

Genopets

Genopets is a Solana-based M2E NFT game that tracks and extracts data upgrades from players' smartphones or wearable fitness devices, and summons their pets to explore hidden lands, find loot, craft items, or fight other players. The game combines the cultivation and evolution mode of Tamagotchi, the training and battle mode of Pokemon, and the crafting and collection mode of Animal Crossing. Last October, Genopets completed a $8.3 million seed round of financing led by Konvoy Ventures and Pantera Capital.

dotmoovs

dotmoovs is a blockchain and artificial intelligence system that analyzes videos of athletes performing sports challenges, allowing athletes to monetize their abilities and earn tokens moov and NFTs. It has launched a mobile application and added a new feature to compete with legends. Currently, dotmoovs has more than 41,000 Twitter followers.

OliveX

OliveX is a fitness metaverse game featuring "Run for Reward" and "Sweat to Win". Players can get game rewards by exercising at home, in the gym or outdoors. Its products include Dustland Runner, a game based on the Zombies, Run! game engine, and Dustland Rider, a gamified fitness platform. Last November, OliveX announced that it had raised $5.8 million through a rights issue, with investors including Animoca Brands, One Football and Bombora Investment. Previously, when OliveX launched pre-registration for the Android app, more than 20,000 people registered in just three days, and the IOS app is about to be launched.

WIRTUA

WIRTUAL is a platform that allows users to earn cryptocurrency by using sweat energy in four types of sports: walking, running, cycling and swimming. It now supports Google Pay and the Apple App Store. Every time a user submits exercise data from a fitness device (Strava, Fitbit, Garmin, etc.) to the WIRTUAL application, they will receive the token WIRTUAL as a reward. Players need to choose an avatar of a character when they first register. Each avatar will have a unique NFT wearable equipment, including skin, hairstyle, clothing, shoes and accessories, and these NFTs are divided into 5 levels: common, uncommon, rare, epic, legendary and mythical, which can increase the user's ability. In addition, WIRTUAL players are divided into 7 levels. The more tokens you have, the more privileges you enjoy.

Fitmint

Fitmint is an Indian web3 fitness app with NFT and SocialFi elements. Users can get cryptocurrency or NFT rewards by simply transmitting activity data such as calories, distance, speed, time, etc. of walking and running. Among them, users need to obtain sneaker NFTs through minting or secondary market purchases to participate. There are 5 types of sneakers, each with different rarity, statistics and utilities, and each pair of sneaker NFTs has 4 attributes, which will determine the token yield, durability, etc. Players can purchase through MATIC, and USDT, ETH, etc. will be supported in the future. As Fitmint's game token nativ, in addition to being the main currency of the application, it can also be used for staking and governance. At present, Fitmint is in the internal beta whitelist application stage, and only 1,000 places are open.

Calo

Calo is a product that can earn exercise and token CALO rewards through activities such as walking, running, jogging, etc. It will be officially launched in May this year. The game adopts a dual token model. FAT tokens are used in the game and the number is unlimited; token CALO tokens are the main currency of the ecosystem, with a number of 500 million, which can be used for buying and selling NFTs, participating in challenges, staking, charity, etc.

Walken

Walken is a mobile app that earns token rewards through games and exercise, created by a team with more than 50 million App Store downloads and $10 million in annual revenue. Users can earn tokens WLKN as rewards by exercising and playing in-app games. In addition, the player's character in the game is an NFT, which means that users can not only earn tokens, but the NFTs they create can also be bought and sold on the NFT market.

Among them, the token WLKN is an alternative governance and staking token used to enhance the user's adventure experience in the Walken application and provide income and, as well as a token for DeFi applications within the application. Users can only obtain tokens by participating in battles, and token holders can vote on the future of the project and stake it for rewards.

SpaceXmove

SpaceXmove is a Web3 application based on Solana. Players can earn token rewards by purchasing sports shoes NFTs and then exercising. They can also buy, sell or rent NFTs in the in-app market. Sports shoes are divided into three qualities: rare, rare and legendary. SpaceXmove tokens SXM can be used to upgrade the level of shoes and mint new shoes.

DEFIT

DEFIT is a multi-chain cryptocurrency running on Ethereum and Polygon networks, aiming to provide a safe, reliable and fast payment method for the global fitness community, replacing traditional currencies for transactions. According to the roadmap, DEFIT will soon promote fitness ambassador activities, athlete NFTs, mobile app MVP2.0 version, etc. DEFIT's parent company is 360Wellness, a fitness product under sports technology startup 360Sports, which has been downloaded in 172 countries.

B-Cycle

B-Cycle is a BSC-based Bike-to-Earn Web3 application. Players can use wearable devices to convert bicycle NFT riding data in the application into token rewards. Among them, B-Cycle provides 2 bicycle options with different optimal speeds for players to choose freely according to their abilities and needs, and Bike NF is divided into 3 rarity levels. The higher the level, the higher the economic benefits. The token BCL can be used by users to access games, upgrade and mint B-Cycle NFTs, or be used for staking rewards and governance.

StepBSC

StepBSC is an application that earns token rewards through walking and running activities. After holding NFT, players need to complete at least 4,000 steps each time and have at least 20,000 tokens in their wallet to get rewards. StepBSC has been audited by CertiK, a blockchain security audit agency, and its revenue mainly comes from collecting a 10% tax on each transaction on DEX and CEX. According to the roadmap, StepBSC will launch Step Fitness Metaverse, which supports users to earn tokens by exercising at home.

Judging from the products under the Move to Earn model mentioned above, on-chain games are no longer simply pseudo-products disguised as NFT or decentralized finance, and players no longer have to become "gold-making machines." Instead, the game and players become more interactive, and they can exercise while passively earning income.

DEFY

DEFY is a Polygon-based mobile game for earning NFTs. Players (agents) are immersed in a virtual world that connects the virtual and physical worlds, combining ultra-casual code-cracking games, Learn to Earn elements, real-world exploration, and AR adventures. Before the game starts, players need to buy a mask to hide their identity, and the official will soon issue 8,888 Genesis VPM NFTs. The DEFY team is very experienced in developing status-based mobile applications. They have launched apps such as District Race, which have won over 700,000 users, and have cooperated with brands such as Apple, adidas, Redbull, and MasterCard.

DEFY’s partners include Animoca Brands, OliveX, Spartan, Gamefi Ventures and PathDAO. The Alpha version will be launched on April 14, and the public token sale will be held soon.