New Participate-to-Earn Opportunities in Metaverse
For years, certain apps and websites have offered to pay their customers and members for doing basic tasks like watching short ads, filling out surveys, etc. For example, Swagbucks is a paid survey site that asks users to complete polls or surveys and they will be rewarded with gift cards or a chance to cash out to PayPal or a Visa gift card.
In the gaming realm, there are even apps that will pay you to play their games, offering gift cards, cash, or other prizes. Some of these apps are as simple as web-based games that will offer you the chance to use real world currency to enter into games or matches that allow you to try and win bigger prizes.
Both of these methods rely on the user to trust in the website or app and may be limited to the potential amount that can be earned. Or, users may find themselves limited in the way that they can cash out, restricted to gift cards that they may not actually want or use. The concept of play-to-earn makes users dependent upon the website or app to set a specific task or accomplishment that users have to reach in order to earn money.
Now, however, there is a growing trend to a more “participate-to-earn” method that doesn’t necessarily function the same way as the older play-to-earn model. These new models are a chance to take a bit of the security and power away from the potential scammers and put it back in the hands of the users.
Legitimacy
The internet can be a deceiving place, especially when money is involved. Too many people have been scammed into spending or sending money to websites, through emails, etc. So, it is to be expected that signing up for websites or apps that offer to pay you for doing simple things like play a game or answer some questions may seem too good to be true.
With the blockchain technology that allows transactions to be legitimized and traced more easily, there is a sense of security and dependability that people can trust. Now, when you are told you’re going to earn something, or you are offering up some of your own currency (like in staking), you will be able to feel more safe about not getting scammed out of it outright.
Crypto Options
With the opportunity to take virtual tokens and currency to the next level, companies are transitioning over to offering crypto as some of their payment methods. This allows users to earn virtual tokens that can be used or cashed out. The reason that this is beneficial to users is that token values change over time and for the watchful user, there can be great opportunities to cash out when the token value is high, allowing you to earn even more than you could through earning a traditional currency.
Additionally, crypto can easily be transferred and used in other token-based platforms or to purchase digital assets like NFTs or items in a game. For an app like Sweatcoin, which tracks the amount of steps that users take each day, earning tokens can be as easy as having the app running on your phone and linking it to your fitness tracker. However, with the release of their SWEAT token, users can now earn tokens for each step that they take throughout the day. Then, users can take that and move it around in whatever way fits their virtual needs or cash it out when the price of SWEAT is right.
New Ways to Interact and Earn
With blockchain technology, the ability to stake your tokens, trade, sell, or buy with more control and security than ever is becoming much more readily available and expected by users. With the participate-to-earn model, there are new options that users can choose from in order to earn.
For example, the Metahunter platform wants to encourage members to participate in the virtual economy in different ways via use of $MHTR tokens. One option is to take lessons at the Metahunter Academy where users can choose to learn more about blockchain technology or related topics. Or, members might decide to play in the MMORPG-style side of Metahunter, renting out their items to other Metahunters and earning a profit from them. This is done at the will of the token owner, not the platform itself.
These options, and the other opportunities that Metahunter offers, create a new method of earning that focuses on the members instead of on what the app or website may need. Members can now take more true ownership of how they earn and what they can do within the Metaverse. By taking the participate-to-earn method and using it in the Metaverse, the opportunities for truly being in control of how and what you earn are better than ever.
Check out other trends in the Metaverse:
The Metaverse is Prime Opportunity for Education and Universities
Experiences in the Metaverse: Industry Trends and Highlights
Possibilities of Virtual Real Estate in the Metaverse
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