THE ORIGIN MOONWALKS
It is now exactly 12 years since Satoshi published the Bitcoin whitepaper,
ushering in the first-ever cryptocurrency based on Blockchain. Satoshi’s proposal
was revolutionary because, for the first time, it solved the decades-old problem
of double- spending that had impeded the adoption and growth of digital
currencies.
The adoption of cryptocurrencies has risen steadily in the past decade. As of this
writing, 19% of the world has bought digital currencies since Bitcoin got unveiled
in 20091. The cumulative market capitalization of cryptocurrency markets has
peaked over US$2 trillion, with more than 6,000 virtual currencies in
circulation2.
In nowadays, cryptocurrencies became a hot topic and much sought after. Lots
of tokens and coins appeared to give people the opportunity to trade and invest
in cryptocurrency.
The name MOONWALK has the meaning of 'Moon' is the familiar
word in crypto and 'Walk' which describe the project for.
Despite these developments, cryptocurrency adoption is not as widespread as it
should be. We explore the challenges bedeviling cryptocurrency adoption in the
next section.
Crypto/Web3
Chris Dixon calls it “the internet owned by the builders and users, orchestrated
with tokens.” Eshita describes the Web1 -> Web2 -> Web3 evolution as Read-
Only -> Read-Write -> Read-Write-Own. Regardless of your preferred
shorthand, it might seem intuitive that the user-owned economy will outperform
the monopolist-owned economy in the long-term.
Running and walking are essential daily activity for most people – moving
around
Current Challenges Facing Mass Adoption of
Cryptocurrencies
Cryptocurrency adoption has several challenges. Below are a few of them:
Scalability
Decentralization is the core philosophy behind Blockchain and cryptocurrencies.
It is the primary reason Bitcoin got unveiled. Cryptocurrencies should wrestle
away the power of monetary control from centralized authorities and give it to
the masses. However, it is only possible to optimize two out of three principles:
decentralization, scalability, and security when it comes to Blockchain.
Volatility
No government or centralized entity governs or controls emissions of
cryptocurrencies. This makes virtual coins highly volatile currencies when
compared to fiat currencies. Also, cryptocurrencies’ lack of institutional capital
and intrinsic value coupled with prevailing short-term investments makes them
highly volatile.
While the highly volatile nature of virtual coins may be alluring for some
investors, it demotivates the general population from adopting them as a
medium of exchange and store of value. Stablecoins, which peg
cryptocurrencies’ value to real-world assets, can prevent volatility.
Lack of technical experience
Trading in virtual currencies is restricted to tech-savvy investors or those who
have the patience and time to learn the Blockchain basics and how
cryptocurrencies work. This problem gets compounded by many abstract and
technical concepts in Blockchains that are difficult to grasp for beginners.
Interoperability issues
Most Blockchains work in siloes and cannot communicate with other P2P
networks. This is hindering many organizations who would have wanted to adopt
the technology. While many systems are attempting to resolve this problem via
various technologies, achieving a global Blockchain that provides seamless
communication between multiple systems is still a challenge
MOONWALKS
The cryptocurrency space has proven to be a very dynamic space with endless
possibilities and innovation-making rounds. We see these innovations very
regularly in the cryptocurrency space, especially since the Decentralized Finance
craze of 2020. Since the DeFi summer of 2020, new forms of innovations like
NFTs, Play-to-Earn (P2E), Metaverse, Programmable Stablecoins, and so on,
have all made rounds in the cryptocurrency space and have been the focus of
investors’ attention as more funds and investment are made in these
industries/sectors. Move-to-earn is the current hype in crypto, following the
popular play-to-earn model that most Metaverse and NFT coins adopted. As the
name suggests, move-to-earn projects enable users to earn rewards for walking,
running, dancing, or simply moving around.
A. WHAT IS MOON WALKS?
MoonWalks is a self-styled “Web3 lifestyle app” with elements on the BSC
blockchain. It combines aspects of a play-to-earn game with a fitness app to
create a new category coined “move-to-earn.” Users buy NFT sneakers, which
they can use to earn in-game currency while walking, running, or jogging.
STEPN aims to revolutionize the market of fitness applications by incentivizing
millions of users to follow a healthier lifestyle. The app solves several problems
like “proof of movement” – proving that users really exercised – and a
functioning GPS system. Moreover, Moonwalks incentivizes users financially and
plans to introduce social rewards elements and successfully contributes to
carbon neutrality.
Based Move-to-Earn (M2E) apps allow users to earn passive income while
engaged in routine physical activities. The move-to-earn gamification works
similarly to play-to-earn wherein players completely own their in-game assets
which can be exchanged for crypto or fiat money following their terms.
the players will have to purchase NFT sneakers. These NFT collectibles are
mintable and come in a variety of designs, rarity levels, and quality. These
virtual assets can be purchased and sold in NFT open markets. Moonwalks runs
on the Binance smart chain blockchain and each NFT sneaker is worth 10 $WLK.
You need to buy NFT sneakers to be tokenized in these move-to-earn apps. So,
whenever the player would move like a simple walking, running, or jogging
activity, the app would start tracking their movements and then converts them
to in-game tokens.
B. Features
Friendly Design
We are implementing the Moonwalks app with an intuitive, easy-to-use interface
complete wit. A customized UI will allow users to use and manage their app easy
and quickly.
We also intend to incorporate elegant and powerful web features To promote
mass adoption, now we are working on mobile exchange app (Android or iOS)
and web browsers app.
Multi-Language Support
Moonwalks app will support the English language and other languages depending
on the client” needs. Initially, we will incorporate four left-to-right (LTR)
languages when the client signs up on the platform or via Google translator for
different languages. Moonwalk will leverage multilingual support because we
want to tap into as many users as possible. We also want to enhance the
efficiency of customer support on the platform.
Usecase
Users buy NFT sneakers, which they can use to earn in-game currency while
walking, running, or jogging. Moonwalks aims to revolutionize the market of
fitness applications by incentivizing millions of users to follow a healthier
lifestyle. The app solves several problems like “proof of movement” – proving
that users really exercised – and a functioning GPS system. Moreover
moonwalks incentivizes users financially and plans to introduce social rewards
elements and successfully contributes to carbon neutrality.
Value Proposition
We are committed to implementing a straightforward health and fitness app that
provides enhanced people to earn money by daily activity with a friendly user
interface
Vision
Our vision is to become one of the largest Web3 lifestyle app which provides
people to have healthier lifestyle and get pay with that.
Mission
Our mission is creating the best health fitness app on binance smart chain
MARKETCAP OVERVIEW
The interest around M2E Marketcap is going parabolic, appreciating 24,500%
since trend proof of move creating. Venture capital firm Sequoia Capital and
other Web3 investors have also invested in M2E sector, purchasing US$5 million
worth of seed funding round back in January.
The growth in M2E sector in cryptocurrency market size has also seen a steady
rise in the number of wallet users. According to Statista, the number of wallet
users had surpassed the 125 million $.
