TipRanks
2022-09-21 17:18:35

Sweat Economy Illustrates How Web2 Apps Can Adopt Web3

The move-to-earn (M2E) concept has been around for some time but largely remained out of the spotlight due to the steep learning curve for new users. Between setting up a cryptocurrency wallet and buying an NFT to participate in a Web3 ecosystem, most existing M2E applications require substantial blockchain knowledge to participate. M2E represents an economy that rewards users for movement and activity, much like a step counter, except with accompanying incentives for users. Yet, despite the potential, many prospective users, especially those without an understanding of blockchain technology, find it overwhelming to set up digital wallets and interact with on-chain services.

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