The “X to Earn” campaign has kept getting stronger. Why? I can think of two reasons why:
It is the best way for incentives to work together. Brands want to know about people’s lives and data. With the “X to Earn” movement, customers may finally get something in return for the money they spend, and the best part is that they don’t have to change their behavior drastically.
Digital assets have made it possible for consumers to get more direct and meaningful compensation.
What role digital assets play
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Generation Z and Millennials listened to their parents’ music, from Metallica to the Red Hot Chili Peppers. At This Time Reports say that the Chicago White Sox will replace Johnny Cueto in their rotation with Mike Clevinger.
Over the past few years, Web3 and digital assets have made the “X to Earn” movement much more popular and doable. In an article, Sensorium, a well-known digital metaverse company, says that “the rise of X-to-Earn is tied to the development of Web 3.0, the growth of blockchain-based digital economies, and important ideas like content ownership, proof of authenticity, and economic opportunity in the new digital era.”
Using bitcoin and other digital assets, the next version of “X to Earn” will let people get paid for doing something they already do every day, instead of just taking surveys. They can now make money while studying, playing video games, or working out.
Four different “X to Earn” chances
2015 was the first year I learned that you could make money by doing something you already do. As a senior in high school, I debated against the Singaporean national team at an international event. Both teams were asked to show how they would implement universal basic income. I remember that Team Singapore’s plan was based on customers sharing their data and making money from it.
Since then, the idea of getting something out of your data has stuck with me, and I’ve been on the lookout for new companies trying to break into the market. Back in 2015, I couldn’t have predicted how quickly “X to Earn” businesses and strategies would spread and how many different kinds we would see today. Let me give you a place to start, since there are a lot of new businesses in this field. Here are four “X to Earn” companies and business models to think about:
- Play to Earn Binance says, “Play-to-earn games allow players to harvest or collect cryptocurrencies and NFTs that can be traded.” By playing the game regularly, each player can get more products or tokens to sell and make money.”
Decrypt says that Axie Infinity is “a blockchain-based game where players buy NFTs of cute creatures and then put them in battle with each other.” During gameplay, players can earn SLP tokens, which can be traded on an exchange for cash.”
- Move To Earn
Move-to-earn games reward people for moving around instead of paying them to play video games. This is often done with the help of a GPS that is built into the app or game and gives users points for walking or running.
STEPN is an app that lets people get rewards for “walking, jogging, and running outside.”
- Browse To Earn
Browse to Earn is a feature that can be added to a browser or used as a whole browser. It pays users for their browsing data. Users can trade in their browsing history for a reward (typically anonymously). Adding a reward-giving browser extension to a reward-giving browser will give you twice as many points.
Brave Browser is a web browser that “eliminates all annoying ads and trackers from every website you visit” by default. Then, users can choose to get ads chosen by Brave and earn BAT cryptocurrency (Basic Attention Token).
- Learn To Earn
Learn to earn is based on bitcoin because most (if not all) of the companies that offer this reward give customers bitcoin in exchange for learning about bitcoin. The more someone learns, the more money they make.
DAO Masters says that RabbitHole is a platform that “allows users to find and use new decentralized applications (d’apps), protocols, or crypto platforms in exchange for bitcoin rewards.”
We Are Still Early
I’m sure you’ve heard that “X to Earn” businesses are still in their early stages. This is true for everything in the crypto and Web3 space. Customers don’t have to add anything to their lives to interact with your business. Instead, they can keep doing what they’re already doing and still get something out of it.
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