In a crowded and rapidly evolving crypto market, many projects' attention is focused on finding a competitive edge via promotion. One method is to reward users with tokens for doing things like studying, playing, or even simply looking around.
These days, you can get certain cryptocurrencies without buying them or mining for them, but you usually have to provide something in exchange, like your attention or time. You may still be required to make a one-time payment before you can begin generating an income from your endeavors.
It is very unlikely that these ventures will be self-sustaining.
Learn-To-Earn
For those interested in learning more about cryptocurrencies, "learn-to-earn" programs provide incentives in the form of tokens.
There are two groups interested in this, the firms who built the system and the users of the underlying coin. If you want to learn anything, the platform (now usually an exchange) would prefer that you do so through their network. As soon as you understand the deal, you'll be more inclined to interact with them. They're vying for users in an effort to increase their platform's popularity.
Each coin is vying for adoption in a crowded market. By educating you on the "why" and the "how" of their project and convincing you to invest in it (even if just a tiny amount), they have a chance to stand out from the crowd of 18,000 other cryptos.
Where Can You Learn-To-Earn?
The biggest centralized bitcoin exchanges provide such an incentive.
Coinbase Earn rewards you for watching animated movies or reading articles and answering quizzes. Passing a quiz earns you a little amount of the cryptocurrency you studied. Studying and earning won't make you rich, but it's easy.
Binance Learn requires a Binance profile. Binance accounts provide this. Coinbase offers video lectures and quizzes to learn about cryptocurrencies. Binance gives you a voucher for anticipated values that you must redeem yourself. It's only good for 14 days.
If you're new to crypto and want the security of a huge, centralized exchange, you may not think much about which one to use. Learn-to-use features might set them apart.
Phemex, another centralized exchange, said on its website that the incentive component had been withdrawn "due to the rearrangement of our bonus program." Remember that low funds may remove incentive programs.
Move-To-Earn
Moving for a crypto project to give you tokens isn't always the most apparent reason why they would do so. Here, take this as an example.
Stepn is an early example of a "move-to-earn" platform. You get points for doing actual, physical steps. Unfortunately, it's not as simple as "wake up and start making money," since you'll need to invest in a pair of digital shoes before you can begin making money. A unique token stands in for the footwear (NFT). As of this writing, the least expensive pair of Stepn shoes on the Magic Eden marketplace was trading for over 13 Solana tokens, or over $650.
First hint as to how the project is earning money off of you just walking about and seeming busy. When one of Stepn's NFTs is sold, the company receives a royalty payment. There are further costs associated with using the app for things like "breeding" two sneakers NFTs into a new one.
When you have your "sneakers," real-world physical activity may win you tokens. The firm claimed that as of April 2022, their app had been downloaded one million times, and it had 200,000 daily users. That's a ton of shoe buyers, which means plenty of money in royalties for the artists. Meanwhile, it has the potential to encourage individuals to get moving.
In addition to the above examples, you can also find a few other “move-to-earn” projects on Chainplay’s list.
Is Cryptocurrency Easy To Get?
GameFi - gaming crypto finance - includes move-to-earn.
"Play for real money" is also frequent. Axie Infinity is famous for giving players its token for in-game achievements.
Games gain from more users. The prospect of earning and utilizing these tokens, which have unique qualities in the game's ecosystem, keeps players coming back. Ecosystem transactions profit Axie Infinity. Developers must create a self-sustaining game economy.
Venezuelans utilized Axie Infinity in 2021. Dark clouds have formed in recent hours. In the Philippines, gamers who borrowed NFTs and paid a yield to lenders earned less than the minimum wage. Axie blockchain tokens worth $625 million were stolen in March 2022. AXS, Axie's native token, has dropped from $94 on January 1, 2022, to $20 at this writing.
Crypto-earning companies should be viewed with caution since the advantages may not last and no project can be relied on to pay you forever.