"Just giving people money for walking is unsustainable."
Ilya Zhurin, OG Protocol business development lead, on how to make your move-to-earn app successful.
🚴♀️ Why do move-to-earn apps need dynamic NFTs?
More move-to-earn apps have been popping up lately as people were excited about the opportunity to make money when walking. But, after the initial euphoria about the possibility of quitting jobs and walking for a living, people were in for a rude awakening. Step NFT prices dropped, its tokens took a dive, and many users are underwater on their investments.
It became apparent that just giving people money for walking is unsustainable. There should be something else — there should be a community built around it.
Gamifying the process and building a strong community are necessary for move-to-earn apps. An app can have multiple avenues for growth if it has an active and engaged community. One way to create such a community is to reward the most engaged users with bonuses and exclusive benefits for being active, and dynamic NFTs are the best way to integrate rewards mechanics.
👟 Dynamic NFTs change after being triggered by any online or IRL event. For example:
🏃♂️Sneakers change color and increase in rarity after a person walks 1k/10k/20k miles.
🏃♀️Sneakers get torn after 1 million steps and can be fixed with 100 native tokens. This is an example of burn mechanics.
Dynamic NFTs can boost user interest and help build solid user retention in a market that may soon face saturation and challenges. The same technology is perfect for partnering with health, lifestyle, and sports brands’ communities.
Move-to-earn apps will have to innovate to retain users to stay in the game. The ones that manage to create the most engaging and fun experience and build a tight-knit community will stay ahead of the competition. Shifting attention from getting monetary rewards to leading a healthy lifestyle is the key challenge that move-to-earn projects are facing. Creative partnerships with brands will also be crucial. Dynamic NFTs may help accomplish these goals.
If you want to discuss dynamic NFT logic that you have in mind, or just talk about the future of web3, drop us a message. 🤸♂
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