India freezes digital assets WazirX, linked with Binance The developers of Shiba Inu have announced a new mobile game Binance received a subpoena over Elon Musk's refusal to buy Twitter The New York authorities fined the crypto platform Robinhood for $30 million North Korean hackers forge CVs to join U.S. crypto companies A new unknown investor bought bitcoins for $3 billion Binance employee claims loss of 90% of customers and billion dollars in revenue MetaMask users face a phishing attack Unknown hacked almost 8 thousands crypto wallets on Solana

Binance invests in Move-to-Earn, a new crypto trend

Binance invests in Move-to-Earn, a new crypto trend

The M2E sector is still quite small in comparison to the overall market capitalization. However, it is actively developing and attracting investments from major players, such as Binance

Why It Matters:

  • The new crypto industry branch shows good growth and is promising for investors

As RBC reports, the Move-to-Earn trend emerged recently but is progressively shifting attention away from Play-to-Earn projects. A few years ago, physical activity experienced gamification (introducing a game element). Nintendo popularized motion-based games by releasing Pokemon GO in 2016. Players from all over the world searched for pokémon by tracking them on a GPS map in real time. 

The entire M2E industry has a market capitalization of $1.5 billion, with a total estimate of digital assets reaching $2.09 trillion. STEPN, an app that encourages a healthy lifestyle and features Game-Fi and Social-Fi elements, represents $1.3 billion of M2E project capitalization. The entire gameplay is based on digital NFT sneakers. These NFTs allow users to earn in-game GST currency while jogging or walking. Combined with the Energy system, which imposes a daily income limit, these features affect the GST amount a user can earn. In early April, Binance unveiled its investments in this app. 

Subscribe to our Telegram channel for the most relevant, interesting, and informative news from the crypto industry.

0
Is there an error in the article?
To report