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Move to Earn is a new game changer

 


A fitness company wants to get people to burn calories using blockchain technology, NFT and crypto rewards.


OliveX, a fitness metaverse, aims to reward users with crypto for staying in shape. The company plans to achieve this goal with a mobile blockchain game. In the game, players can run in real life to complete challenges or other tasks.


The only hardware you need is your smartphone and running shoes. As you run in real life, you earn rewards that you can exchange for cryptocurrencies or NFTs. According to Forbes , the new model is called “Move-to-Earn”. Keith Rumjahn, the CEO and founder of OliveX, described the model as a "game changer" and stated:


“Our mission is to get 1 billion people on board and in doing so, I want them to earn their first NFT and crypto tokens through movement.”


Fitness, gaming and blockchain are key

Achieving this ambitious goal will not be easy for OliveX. However, Rumjahn believes the company's strategy of investing in the fast-growing gaming, fitness, and blockchain industries will be key.


Investors appear to be buying into the vision. In 2021, OliveX raised $5.7 million which was used to develop Dustland Runner, a critically acclaimed move-to-earn product. The company's market cap has doubled while losses have fallen by more than half in two years.


Blockchain gaming has been on a continuous upswing since 2020. According to a DApp Radar report , the industry's user activity has grown by over 2,000% in less than a year.


The data shows that blockchain games currently have more than one million unique active wallet connections . Gaming protocols like Axie Infinity and The SandBox are responsible for most of the rapid increase in connected wallet addresses. Rumjahn explained:


“For the first time ever, gamers have true digital ownership of their games, and game developers are also making more money because there's no middleman. So it's a win-win situation."


Blockchain technology and developments in NFTs have enabled players to own in-game items that they can exchange for real money. Some experts suggest that gaming is one or even the best use cases for cryptocurrencies due to the rapid growth of blockchain gaming.

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