Let’s examine what NFT is and its features.

Key Features of NFTs

Nonfungible tokens are not exclusive to the blockchain gaming industry. These tokens can represent digital and real-world assets such as artwork, real estate, collectibles, and even personal identity. They act as a kind of capital transfer. As a result, NFTs have a wide range of practical applications that address multiple industries and use cases, and their adoption is accelerating. Unlike most other digital tokens, NFTs exhibit three distinct characteristics:

Non-fungibility: Each NFT is a cryptographic token that represents something unique or immutable. In other words, it cannot be replaced by another NFT. The metadata inside each NFT resides on the blockchain as a permanent and unalterable record. Similar to a certificate of authenticity, this record describes what the token represents and describes the token’s ownership history and transaction record. In contrast, many cryptocurrencies are exchangeable, such as bitcoin (BTC), Ether (ETH), and other service tokens. In this context, it can be said that BTC and ETH cannot be used as NFT.

Rarity: The rarity of each NFT is a crucial component of what makes them desirable. For example, in CryptoKitties, users collect and breed digital cats, each shaped by a designated NFT. Some of these CryptoKitties are considered rare collectibles and, as a result, raise their price among collectors who value their demonstrable rarity. For example, in 2018, a CryptoKitty named Dragon was sold for 600 ETH, which was equivalent to $170k at the time.

Indivisibility: Cryptocurrencies such as Bitcoin can be broken down into smaller units given their exchangeability and intended use as a medium of exchange. By contrast, most NFTs must be bought, sold, and stored as a whole and are therefore indivisible — just as you cannot buy 10% of a concert ticket or 60% of a plane ticket.

Common Types of NFT Scams

NFT scams either scam people out of money directly or take credentials to access a person’s digital wallet or cryptocurrency wallet. Unfortunately, it is difficult to recover lost money or stolen digital wallet credentials after a scam.

Here are some of the more common types of NFT scams to watch for.

Rug Pull

Scammers attract buyers by promoting a fake NFT project or collection and promising them to make money. Scammers exaggerate NFTs on social media. All promotions and unfulfilled promises disappear once NFTs are purchased. This causes the value to drop significantly. Scammers also eliminate the possibility of selling this NFT.

Airdrop

Scammers use social media to promote NFT giveaways. Promotions often offer a free NFT to spread the news to friends or sign up for their website. When it’s time to collect the prize, the scammers ask for the cryptocurrency wallet information to send the NFT, but instead gain access to the account and take any money or NFT from the person’s wallet.

Direct Messages on Discord

Discord is quite attractive to cybercriminals and there are various ways to scam users. The platform is divided into communities called servers where people can talk, stream and play games together.

Last December alone, 373 members of a Discord server run by the recently launched gaming NFT marketplace Fractal saw their digital wallet authentication compromised, losing a total of $150,000 worth of Solana.

Other ways to get scammed on Discord are by sending direct messages (DMs) to make users believe they are actually being contacted by a brand, artist, or influencer. Essentially, the larger a Discord network, the higher the chance of receiving scam messages. You should refrain from clicking links sent by strangers or responding to any money requests. Likewise, don’t let yourself get caught up in new NFT opportunities or projects without checking if the offer is legitimate.

Fake Profiles on Social Media

Social media users should be constantly aware of potentially fake profiles, whether on Twitter or any other social media platform. These are usually copies of real profiles, and a little attention to detail can be all it takes to distinguish them — sometimes a single letter is all it takes to report you to a scammer.

At the same time, bots asking users to react to messages or tech support scammers are using social media to interact with users and request information that could give them access to their crypto wallets. While bad actors don’t always succeed, a small percentage of users who get scammed can mean big wins.

In addition, cybercriminals may try to reach users by sending messages pretending to chat or seek advice. Some red flags can help detect a scammer, such as the number of followers, the number of tweets and retweets, or whether the account lacks original content.

Bidding scams

A bid scam happens when someone tries to resell their NFT. After receiving the highest bid, the scammer — the highest bidder — exchanges the cryptocurrency for a lower value. It may seem like the highest amount, but some cryptocurrencies are less valuable than others.

Investor scams

People remain anonymous when selling or buying NFTs, which makes it easy to create investment scams. With an investment scam, threat actors create a seemingly valuable project to invest in. After collecting coins, they disappear without a trace.

A recent investor scam with the Evil Ape developer stole nearly $3 million in investments. Evil Ape originated as part of the legitimate Evolved Apes project but disappeared after raising money.

Pump and dump

A pump and dump scam happens when a group buys a large amount of cryptocurrency or other currency to boost demand. After price increases — or after pumping — the group then sells — or abandons — the asset to cash out the gains — and everyone else loses.

Fake NFTs

Scammers can steal or copy artworks and then list this fake content on legitimate sites like OpenSea. NFT has no value because it is stolen, copied or faked. The person made the purchase before realizing it was fake.

Tips to Avoid Scams

Most NFT scams try to steal cryptocurrency wallet information or trick people into buying a fake NFT. Here are some ways to avoid these scams:

- Keep keys secret. Never share crypto wallet information with anyone. These keys must be private along with recovery codes. No one needs to know these passwords for any reason.

- Research the NFT vendor. Before buying, check the seller’s NFT marketplace account and check the blue tick verification mark. Also, research the seller’s social media accounts, check this seller’s other listings, and search for online reviews.

- Review the transaction history of the NFT. Be wary of NFTs with transactions made in one day.

- Do not click on suspicious attachments or links. Even if the link appears to go to a real site, it can still be fake. It is always best to visit the site directly and not click on any links.

- Cross-check NFT prices. Before buying an NFT, go to trading platforms like Axie Marketplace, Mintable or OpenSea to see if prices are similar. If the price appears to be much lower or higher than the prices on these legit trading sites, it is most likely a scam.

- Watch the bids. Before accepting any offer, be sure to double-check the currency. Do not accept anything less than expected.

- Create strong passwords. Be sure to create strong passwords for NFT accounts and cryptocurrency wallets. Two-factor authentication is another way to keep NFTs secure. Using facial recognition or fingerprinting makes it harder for someone to steal an ID.

- Use reputable NFT currency markets. Don’t believe in offers that sound too good to be true. New marketplaces are popping up everywhere and offer minimal security. Stick to reputable currency markets like OpenSea, Rarible, Mintable, Foundation, MakersPlace and Axie Marketplace.

NFT Security Tips

It is very important to be careful when entering the world of NFT. A little dose of scepticism will save you headaches in the future.

Here are a few quick tips on how to stay safe when using NFTs:

- Never share your seed phrase or password with anyone.

- Always check if the DM you receive is legitimate.

- Never click on a link that promises free or requires a quick response. And if you want to do that, check the source of the link first. This is even more true on Discord.

- Store your tokens in a cold storage hardware wallet, not a software (aka ‘hot’) wallet.

I’m telling you…

The Fitlanders NFT collection offered by the Fitlich app, which I have been following for a long time and writing about, looks like it will make a solid entrance to the world of NFT with the originality of the works and the quality and integrity of the project.

References

1. https://bit.ly/3mN3F5d
2. https://bit.ly/3QkVhY5
3. https://bit.ly/3HothyC
4. https://bit.ly/3NWlPgC
5. https://bit.ly/3xOPuCX

This article is an excerpt from by Karl Liebermann | Coinmonks | Jun, 2022 | Medium

In this article, the coins with the highest market value in the crypto money market will be listed. Of course, this article does not provide you with investment advice.

Some investors say you shouldn’t invest in the stock market if you can’t handle a 20% or more drop. There is no tangible evidence yet as to how much risk you have to take to successfully engage in cryptocurrency. Still, they say, higher risk brings opportunity for greater reward.

1. Bitcoin

Created by Satoshi Nakamoto in 2009, Bitcoin (BTC) is the original cryptocurrency preferred by individuals and businesses alike. Because BTC is a blockchain and must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is secure and safe from scammers. While one BTC could be bought for around $500 in May 2016, it is over $27,000 as of May 12, 2022. One of the reasons for the high price in BTC is because it has a limited supply of coins. On the other hand, sharp decreases in BTC make investors nervous. BTC, which started at $ 43,000 at the beginning of March and reached $ 47,000, shows a continuous downward trend as of May, as I mentioned above.

2. Ethereum

Ethereum, which has an unlimited supply of tokens according to the inflationary token economy model, is one of the favourites of program developers in the cryptocurrency market as both a cryptocurrency and a blockchain platform.

Ethereum is also one of the most profitable cryptocurrencies. From April 2016 to mid-May 2022, its price increased by about 18,000% from about $11 to $2,000. In addition to making a lot of money, Ethereum has steered the cryptocurrency market with its innovative ideas. For example, he pioneered the idea of decentralized finance, or DeFi, a disruptive new financial system that cuts through traditional middlemen and intermediaries such as banks, brokers, and centralized exchanges.

On the other hand, ETH is currently one of the best cryptocurrencies to buy due to the upcoming event known as “Merge”. Merge, once known as Ethereum 2.0, is expected to launch in the second half of 2022. However, it looks like the incorporation of Beacon Chain into the existing Mainnet Chain will help speed up the Ethereum ecosystem again and revive Ether. One of the things that makes Ethereum the best among cryptocurrencies to buy right now is its robust Dapps ecosystem. It has dominated the market since its launch as the first Dapps blockchain in 2015.

Considering that the popular cryptocurrency is currently trading for under $3000 per coin, it could be a good option for investment considering that Ethereum could double in 2022.

3. Tether

Tether (USDT) was one of the first and most popular of a group of stablecoins called cryptocurrencies that aim to fix the market value to a currency or other external reference point to reduce volatility. Most digital currencies, even large ones like Bitcoin, experience frequent periods of dramatic volatility. Tether and other stablecoins try to smooth out price fluctuations to attract users who might otherwise be cautious. USDT was later updated to run on Ethereum, EOS, Tron, Algorand and OMG blockchains.

The stated purpose of USDT is to combine the unlimited nature of cryptocurrencies that can be sent between users without a trusted third-party intermediary with the stable value of the US dollar. Stablecoins have been used more and more as a hedge against inflation lately. As of May 13, 2022, Tether is the third-largest cryptocurrency by market cap, with a market cap of $82.3 billion and (you guessed it!) nearly $1 per token.

4. ApeCoin

ApeCoin is an ERC-20 governance and utility token used in the APE Ecosystem based on web3. ApeCoin holders manage themselves through the decentralized governance framework that controls the ApeCoin DAO.

ApeCoin allows token holders to participate in the ApeCoin DAO. It also gives its participants a common and open currency that can be used without central intermediaries. In this respect, 62% of all ApeCoin is allocated to the Ecosystem Fund, which will support community-driven initiatives voted on by ApeCoin DAO members.

Unlike many cryptocurrency platforms, ApeCoin also provides access to certain parts of the Ecosystem that are otherwise unavailable, such as exclusive games and services. In this context, ApeCoin also gives importance to third-party developers. Third-party developers use ApeCoin as a tool to join the ecosystem by including it in services, games and other projects.

ApeCoin token has adopted the inflationary model in the context of economy. Its total supply is pegged at 1 billion coins, all minted at once. ApeCoin is an ERC-20 token launched on the Ethereum blockchain, as I mentioned above. As a result, Ethereum’s proof of work (POW) is secured by the consensus mechanism.

5. Binance

Launched in July 2017, Binance is the world’s largest cryptocurrency exchange by daily trading volume. Binance’s goal is to bring cryptocurrency exchanges to the forefront of financial activities globally. Binance has launched a full functionality ecosystem for its users. In this context, the Binance network includes Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet and Research projects using blockchain technology. BNB forms an integral part of the successful operation of many Binance subprojects.

What sets Binance apart from other cryptocurrency centers is its ecosystem of decentralized and blockchain-based networks. Thus, the company attracts great attention, becoming the leading crypto exchange in many countries.

Binance has taken measures such as BEP-95. Thus, it raised the deflationary tokens, making BNB even more deflationary. Although BNB started as a traditional ‎‎ERC-20‎‎ token on the ‎‎Ethereum‎‎ blockchain, it later migrated to its own blockchain(‎‎BFT‎‎).

‎ERC-20 tokens are based on proof-of-stake (‎‎PoS‎‎) consensus, which makes them highly scalable and allows the creation of smart contracts. Unlike PoS, Binance blockchain does not support smart contract functions. In contrast, the Bitcoin blockchain is secured by the consensus of proof-of-work (‎‎PoW‎‎), which is much more limited and consumes large amounts of electricity and computing power.‎

6. Solana

Solana is open-source project that uses blockchain technology to provide decentralized finance (DeFi) solutions.

The Solana protocol is designed to facilitate decentralized application (DApp) creation. Due to its innovative hybrid consensus model, Solana continues to attract both small-time traders and institutional traders. Solana, on the other hand, is of great importance in the cryptocurrency space due to the incredibly short transaction times the blockchain offers. Solana’s hybrid protocol provides significantly reduced verification times for both transaction and smart contract execution. With lightning-fast transaction times, Solana has also managed to attract corporate attention.

Solana’s Protocol is designed to have low transaction costs while ensuring scalability and fast processing. Solana stood out as a competitor that could compare and even challenge Ethereum in terms of speed and performance.

As a result, in the long run, Solana could gain in value thanks to strong support from exchanges like FTX.

Conclusion

Cryptocurrency markets are open to instant changes. More generally speaking, the situation of perfect competition in the economy is nothing but a fantasy. The general state of the economy and therefore the markets are always open to fluctuations. The exception is when there is no fluctuation. By its very nature, like every precious commodity traded in capitalist markets, cryptocurrencies get their share of these fluctuations. In this case, it is necessary to look at longer-term data than daily, monthly or quarterly data.

References:

1. https://bit.ly/39rVt6I
2. https://bit.ly/39rVw2o
3. https://bit.ly/3wvrl2j
4. https://bit.ly/3yBERnO

This article is an excerpt from https://medium.com/coinmonks/best-cryptocurrencies-for-investment-f6c6243bdca2

Blockchain technology in NFT games is driven by NFTs, which are digital assets that represent in-game content. These tokens are unique, rare and indivisible. Blockchain networks that support NFTs, on the other hand, facilitate player ownership, provable scarcity, interoperability, and immutability. This unlocks the potential for NFT games to drive a much fairer value model while facilitating mainstream adoption.

Key Features of NFTs

Nonfungible tokens are not exclusive to the blockchain gaming industry. These tokens can represent digital and real-world assets such as artwork, real estate, collectibles, and even personal identity. They act as a kind of capital transfer. As a result, NFTs have a wide range of practical applications that address multiple industries and use cases, and their adoption is accelerating. Unlike most other digital tokens, NFTs exhibit three distinct characteristics:

Non-fungibility: Each NFT is a cryptographic token that represents something unique or immutable. In other words, it cannot be replaced by another NFT. The metadata inside each NFT resides on the blockchain as a permanent and unalterable record. Similar to a certificate of authenticity, this record describes what the token represents and describes the token’s ownership history and transaction record. In contrast, many cryptocurrencies are exchangeable, such as bitcoin (BTC), Ether (ETH), and other service tokens. In this context, it can be said that BTC and ETH cannot be used as NFT.

Rarity: The rarity of each NFT is a crucial component of what makes them desirable. For example, in CryptoKitties, users collect and breed digital cats, each shaped by a designated NFT. Some of these CryptoKitties are considered rare collectibles and, as a result, raise their price among collectors who value their demonstrable rarity. For example, in 2018, a CryptoKitty named Dragon was sold for 600 ETH, which was equivalent to $170k at the time.

Indivisibility: Cryptocurrencies such as Bitcoin can be broken down into smaller units given their exchangeability and intended use as a medium of exchange. By contrast, most NFTs must be bought, sold, and stored as a whole and are therefore indivisible — just as you cannot buy 10% of a concert ticket or 60% of a plane ticket.

What Are Popular NFT Games?

Certain platforms have positioned themselves as pioneers and catalysts for the NFT gaming world. These games continue to be at the forefront of the current NFT craze as they successfully integrate NFTs with popular game themes. Therefore, players enter the world of NFT by winning while playing some of their favorite game genres.

Axie Infinity

Ethereum-based Axie Infinity is heavily inspired by the Pokemon game series. It has added its own blockchain twist to give its finished product an even more exciting feel. Players, the main purpose of fighting other players is to feed and collect NFT-based digital pets called Axies. Each Axis has its own genetic imprint. Therefore, Axies’ weaknesses and strengths are passed on to their offspring. The evolutionary process is at work here as well. Darwin, you are so great! As expected, these digital pets can be traded on Ethereum NFT marketplaces, and the price of each depends on their rarity and unique characteristics. To start playing the game, you must purchase 3 Axies. For every mission, player vs player (PVP) battle, and adventure mode you scale up, you get the platform’s native Smooth Love Potion (SLP). Axie Infinity has been extremely popular in the Philippines, where players can earn a substantial income by playing the game. For an attempt to produce a new Axie, you have to pay a certain amount of SLP, which you can also buy from exchanges. Another ERC20 token unique to Axie Infinity is the Axis Infinity Shard (AXS), which acts as the platform’s governance token.

Gods Unchained

Gods Unchained is a free-to-play game designed to incorporate NFT elements into a familiar card trading game genre. Players accumulate cards by purchasing cards from other players or by winning PVP matches where the quality of the cards and the playing skills of the players often determine the winner. In particular, more emphasis is placed on skills and strategy. This is because the game uses a ranked game mode where players with the same rating are matched.

You win matches when the game you’re playing causes your opponent’s life to drop to zero before yours. For every win you get experience points. When the experience bar is full, it will move to the next rating or level and you must get a new pack of cards to add to your collection.

Note that each card is backed by an ERC-721 token. Therefore, you can trade them on the local market or open market of the platform. Those who choose to sell cards in the gaming ecosystem will receive GODS, the native token of the platform, as payment. It is worth noting that at the time of writing this guide, the GODS token has not been officially released. Before proceeding with buying or acquiring any tokens marketed as GODS tokens, be sure to verify that the development team has released the GODS tokens to the crypto market.

Splinterlands

Similar to Gods Unchained, Splinterlands is a free-to-play, tradeable card game that allows users to earn as they play. You earn rewards when you win card matches. To start playing Splinterlands, you must first purchase a starter card pack, open a Steam account, and unlock your purchased cards in Splinterlands. In some cases, you may be lucky enough to find rare cards among your first purchases. You can also find multiple cards of the same suit. In this case, you can combine the same cards to increase their strength or sell one of them in exchange for cryptocurrencies.

After you get used to the cards, you can continue to fight with other players or participate in quests. The outcome of these activities will determine whether you win more cards.

Sandbox 3D

Sandbox is a voxel-based game metaverse. Sandbox 3D is one of the most active NFT gaming platforms where players can create and trade virtual assets. In this game, players can manipulate voxel assets and monetize them. You can think of it as a blockchain iteration of popular game titles like Minecraft and Roblox. Platforms provide tools to create and animate objects and then sell them on marketplaces. Additionally, users can create and play custom games on the platform. Sandbox 3D introduced SAND, an ERC-20 token, as the native token for the metastore. With this, players can purchase in-game items from the platform’s market. There is also LAND, which has NFT tokens and are some of the most valuable and sought-after assets in the Sandbox game. In April alone, the LAND sales record of 8.5 million dollars was broken.

Alien Worlds

Alien Worlds is an NFT Defi metaverse that simulates economic competition and cooperation between players to explore other planets. This is achieved by encouraging players to compete for Trilium (TLM), which is necessary to control rival decentralized autonomous organizations (Planet DAOs) and gain access to additional gameplay.

In the Alien Worlds metaverse, players can get NFTs to mine TLM, participate in battles, and complete in-game missions. Depending on their strategy, players can buy and assemble the NFTs that best suit their game. Additionally, players can choose the Council Members of the six Planet DAOs to participate in the management, thereby influencing the direction of the game.

Battle Racers

As the name suggests, it is inspired by popular games like Battle Racers, Super Mario Kart, and F-Zero. The whole idea is to combine different weapons and parts to create the most powerful cars. Players can mix different parts and weapons on arcade-sized tracks that will give them some sort of advantage. You can register your winning or prize-winning cars as NFTs on the blockchain and then sell them for crypto on OpenSea.

Each player tries to create the ultimate car, preferring different skills and stats. You can choose handling over-speed or defense over firepower in hopes of winning in tournaments. This game is currently playable in Decentraland, which is a blockchain-based virtual world in itself.

Sorare — Global Fantasy Football

Sorare is a fantasy football trading card game on the Ethereum blockchain. Players collect or buy trading cards to compete in weekly competitions and have a chance to unlock rare cards or earn Eth. As of the end of October 2021, Sorare is officially licensed on the platform of more than 200 clubs, with new ones added every week, including famous names such as Real Madrid, Liverpool, Paris Saint-Germain, and Bayern Munich. In addition, the Belgian Jupiler Pro League has licensed Sorare.

In Sorare, cards are divided into four categories: common, rare, super rare, and unique. The game is free and players are given a random deck of community cards when they complete certain practice tasks. However, in order to advance through the leagues and earn rewards, players will at least need to purchase rare cards from the Ether market.

Players assemble a team of five from their decks of cards, choose your captain, and put their teams in weekly competitions. It determines the points the team will get according to the performances of the players in real-life football matches. Players own the NFT cards they collect and can sell them to other players on the NFT marketplaces.

According to the data of CoinMarketCap, the games that earn the most tokens include ApeCoin, Decentraland, The Sandbox, and Axie Infinity. The popular NFT Games, of course, are not as many as I tried to explain above. Apart from the above NFT Games, Star Atlas, Illuvium, NFT Champions, Dogami, Spider Tanks, The Walking Dead: Empires, MAD Metascientists, Gold Fever, Sidus Heroes and Cosmic Champs should also be counted. You can get summary information about these games from CoinMarketCap.

Conclusion

NFT collectibles and NFT Games continue to push all the molds of the digital world without borders. According to some although there is a possibility of collapse, NFT seems to continue to wreak havoc on the digital world for a long time. So, let’s play and earn tokens!

References:

1. https://coinmarketcap.com/alexandria/article/top-nft-games
2. https://www.gemini.com/cryptopedia/nft-blockchain-gaming-industry
3. https://academy.binance.com/en/articles/what-is-gamefi-and-how-does-it-work

This article is an excerpt from https://medium.com/block6/nft-games-and-earn-to-play-c1157aff5b06

NFTs and Games

NFT earning games are games that allow players to enjoy them by fighting, upgrading characters and completing certain missions. I think the question to be asked should be how did NFTs become so popular. You can transfer NFT to a cryptocurrency wallet. In addition, it is possible to convert NFTs to the in-game currencies that can be sold or exchanged for tokens that can be used for your real-world payments or currencies. Those who play crypto games receive payment as I mentioned above. The tokens won by the player are one of the main motivation sources that players need to actively participate in these games. So, you win while playing, you also enjoy winning.

The decentralized playground continues to grow as the world begins to leverage blockchain technology. The latest trend is the play-to-win model, which bridges the gap between virtual space and reality, offering a user-oriented economy for gamers.

Thanks to the win-to-play, players provide many features such as growing characters, unlocking upgrades and purchasing items. Players create value for both the community and developers by participating in the in-game economy.

Play-to-earn events range from different reward systems to in-game assets such as vehicles and weapons. In financial terms, tokenizable assets can be sold as cryptocurrency and non-fungible tokens (NFTs).

Play-to-Earn: How Does It Work?

In the decentralized world, Play-to-Earn highlights two methods of creating liquidity. These methods are:

1. Buying and selling in-game NFTs

2. Play to earn in-game cryptocurrencies

In the first case, players create unique in-game NFT items in a marketplace for cryptocurrency and sell these NFTs to other players. In the latter case, players are rewarded with in-game crypto assets that can be used to purchase more in-game content or exchanged for fiat and other digital currencies.

1. NFT Buying and Selling

Creating, buying and selling in-game assets as NFTs is the core concept behind the play-to-win model. The most well-known example is NFT-based games, which allow users to buy, sell, and trade NFT collectibles such as crafted weapons, cosmetics, and power-up potions in-game markets.

Axie Infinity, for example, is an excellent example of an NFT-based online game where players can craft or buy Axies to battle other players and earn rewards. Each Axie is also a unique NFT. This means that the two Axis are not alike and their ownership is tracked separately on the blockchain. Players can also sell their NFT Axes on the market and take all profits. Thus, Axie Infinity creates a user-oriented market economy for collectors and gamers.

2. Earn In-Game Rewards and Cryptocurrencies

In addition to NFT in-game assets, gaming platforms like Mobox (Mbox) reward their players with cryptocurrency through their free-to-play games. Anyone can participate in the various games provided by the platform, from NFT farming to farming and blockchain games. Also, users can stake in liquidity pools or use MOMO NFTs to earn staking rewards paid in local MBOX currency. Stake MBOX tokens can reward unique MOMO NFT Mystery Boxes, creating an extra incentive for users to hold and use the platform’s native token for passive income.
I tried to look at the relationship between the token and the game in this article. In my next articles, I will try to examine fitness and tokens.

References:

1. https://zipmex.com/learn/top-play-to-earn-crypto-games/
2. https://www.analyticsinsight.net/top-cryptocurrency-games-where-you-can-get-token-gifts-in-2022/
3. https://www.binance.com/en/blog/nft/7-nft-games-to-playtoearn-in-2022-421499824684903225

This article is an excerpt from https://medium.com/coinmonks/crypto-token-and-game-can-we-earn-crypto-tokens-by-playing-games-caffc586af67

What about Bitcoins? Or Ethereum’s Ether? Altcoins? Coin and Token concepts? Many more in the cryptocurrency market, such as the above products and concepts.

There are coins and tokens as well as many other concepts. This article will focus on what coins and tokens are and the differences between them.

Coins and beyond

Coins (also called altcoins or alternative cryptocurrency coins) are digital coins that are created using cryptographic techniques and store value over time. In this context, it means the digital equivalent of money. The most well-known coin example is Bitcoin. Bitcoin is also known as a type of cryptocurrency as it uses cryptography to secure it. There are no physical bitcoins. there are only balances held in a public ledger that is accessible to everyone. All Bitcoin transactions are verified with massive amounts of computing power through a process known as “mining”. On the other hand, Bitcoin is not issued or supported by any bank or government. An individual bitcoin is not valuable as a commodity. Bitcoin is often abbreviated as BTC when traded. There are coins Litecoin and Namecoin based on the original protocol of Bitcoin that went public and coins Ripple and Monero, which run on the blockchain created specifically for them.

Another example of a coin is Ethereum’s Ether, ETH. ETH is the native coin of the smart contracts platform for building general-purpose computer programs running on a decentralized blockchain. Ethereum does not focus on financial data. Instead, it focuses on random program data, which can cover everything from games to social media. Ether is used to send/receive assets, manage assets, pay gas fees and interact with decentralized applications (dApps) in the network.

Coins have the same characteristics as money: they are exchangeable, divisible, acceptable, portable, durable, and in limited supply.

The main features of the coins are:

• They are connected to the public blockchain — anyone is allowed to join and participate in the network
• They can be sent, received or mined

Coins are not intended to perform any function beyond acting like money.

What is the Altcoin?

Since then, thousands of new altcoins or alternative currencies have been created and added to the crypto ecosystem. “Altcoin” refers to any cryptocurrency other than Bitcoin. Ethereum is the most popular altcoin and people use its full name (Ethereum) when talking about the wider blockchain network, but use Ether (ETH) to discuss the currency itself.

According to the price monitoring website CoinMarketCap, there are more than 17,000 types of cryptocurrencies as of February 2022. Bitcoin accounts for almost half of the total crypto market and Ethereum account for almost a quarter. Altcoins occupy the remaining market share (roughly 40%).

This means that there are thousands of other coins exchanged in the metadata store. Let’s take a closer look at what altcoins are and why experts say most investors should switch to anything other than Bitcoin and Ethereum.

The term “altcoin” is shorthand for “alternative coins” and simply means cryptocurrencies other than Bitcoin. After Bitcoin, the nine most popular cryptocurrencies are as follows:

• Ethereum
• XRP
• Tether
• Cardano
• Polkadot
• Stellar
• USD Coins
• Dogecoin
• Chainlink
• Uniswap

Experts point out that Bitcoin is highly speculative and altcoins are even more speculative. Ethereum, the most heard altcoin, has grown significantly since its 2015 launch thanks to its smart contract capabilities and the popularity of digital art known as immutable tokens (NFTs).

Is Token a different type of Coin?

Tokens are shaped around a specific project. Tokens are used as a payment method in the project ecosystem. However, they are digital assets that perform similar functions to coins. But the main difference is that it also gives the owner the right to join the network. Tokens can represent a share of a company, provide access to the functionality of the project and much more — with the launch of new projects unknown aspects of tokens are discovered.

Digital tokens are similar to each other. Only certain projects have certain use cases.

Tokens represent an asset or utility. This is why security and utility tokens are distinguished. Security tokens are designed to be the share of the company. Tokens occupy a unique corner of the cryptocurrency market where they act as “useful” tokens in an app’s ecosystem to incentivize certain behaviours or pay fees. For example, the Fitlich app earns you tokens by burning calories.

Generating a token is easier than generating a token, as you don’t have to create a new code or modify an existing one. Just use a standard template from blockchain-based platforms like Ethereum that allows anyone to create tokens. just a few steps. Using a template to generate tokens ensures seamless interoperability. So, users can store different token types in a single wallet. Ethereum was the first platform to simplify the token generation process.

Conclusion

Tokens are just a payment method. Shares are projected in the white paper of a company or company project. With token redemption, users can access the product or service and perform many other functions (such as STEPN and Fitlich app). Coins are currencies that can be used to buy and sell things. You can buy tokens with a coin, but not vice versa. While the coin works independently due to its working principle, the token has a specific use in the project ecosystem.

References:

medium.com

bit.ly

bit.ly

bit.ly

This article is an excerpt from https://medium.com/block6/what-to-understand-about-coins-and-tokens-295108f206f

Blockchain technology seems to be the driving force of the next-generation internet. Dubbed by many as Web3, it enables tokenized economic interactions without intermediaries. Web3 is an idea for a decentralized and public blockchain-based version of the Internet. Web3 is heavily based on various cryptocurrencies and blockchain technologies such as NFTs. Some visions are based on the concept of the decentralized autonomous organization (DAO), which seeks to ensure that many people have equal ownership and governance in an organisation. Decentralized finance (DeFi) is another key concept where users exchange money without bank or government intervention. This unique state layer on Web3 allows us to send digital values purely peer-to-peer (P2P) in the form of tokens, eliminating the double-spend problem. In this way, sending digital assets over the web has become as cheap and easy as sending an e-mail. As of April 2022, close to 10,000 public tokens are listed on CoinMarketCap. Having peaked at 2.5 million contracts deployed in June, Ethereum has seen more than 900k contracts deployed from September, which is when Cardano smart contracts were first introduced. This equates to an almost 1,000 times increase in the number of smart contracts being deployed on Ethereum. In June 2019, the social media giant Facebook announced that it is working on its own token Facebook Diem (formerly Libra token) and Web3 infrastructure the Diem Network (formerly Libra network). In addition, Diem will have no fixed token supply. Rather, its single currency stablecoins will be minted and burned by Diem as needed in response to market demand, and each token will be backed by a reserve of liquid assets.

To understand the token economy, we should first look at the economic models of the top 100 paying Tokens. In this context, we need to take a look at 4 different token economic models.

These models are:

1. Deflationary Model (Currency)

In a deflationary token economic model, although there is an increase in demand, the incremental increase in demand is not accompanied by an increase in supply. Thus, there is a hard upper limit on the number of tokens created as a deflationary mechanism. We can give BTC, LTC, BCH as an example of Deflationary Model (Currency).

2. Inflationary Model (Utility)

In an inflationary token economic model, there is no limit to the number of tokens created. There are several iterations of the inflationary token model, where some token issuers limit token generation on an annual basis, others exit a specific schedule, and some prefer to determine supply based on demand-driven data. As an example of Inflationary Model (Utility), we can give ETH, DOT, SOL.

3. Dual-Token Model (Other) -

In a dual token economic model, two different tokens are used in combination on a single blockchain. This usually includes a value store icon as well as a utility icon. The purpose of this model is to encourage users to retain the store of value tokens to receive returns in the form of utility tokens that can be used for transactions on the chain. Examples of Dual-Token Model are (Other) VET & VTHO, NEO & GAS, ONT & ONG.

4. Asset-backed Model (Stablecoins)

In an asset-backed token economic model, an issuer pegs the value of an asset to the token’s underlying assets, similar to an Asset-Backed Securities in traditional financial markets. Asset-based models may rely on assets with fluctuating valuations such as gold or fixed assets such as the US dollar. Examples of Asset-backed Model (Stablecoins) are PAXG, USDT, USDC.

Token Returns in the Context of the Economic Model

When we examine the token returns in the context of the four models we mentioned above, we see that the model that brings the most returns is the inflationary model. The rate of return of the inflationary model was 2392%. On the other hand, the high rate of return of the inflationary model is not much different when compared to the deflationary model (2067%) and the dual-token model (2084%). Asset-Backed Models’ return rate was 116%.

Three Major Consensus Mechanisms

There are three basic mechanisms that blockchain networks implement. These mechanisms are:

1. Proof of Work (PoW)

2. Proof of Stake (PoS)

3. Delegated Proof of Stake (DPoS)

Networks like Bitcoin, Ethereum, and Litecoin have PoW, NXT PoS, and both EOS and Telos are in the newest mechanism, DPoS.

In PoW consensus, the network consists of nodes, or in this case miners, who verify and record transactions on the chain. They must have high computational resources to create blocks and deal with complex computations. The miner who generates the last hash values receives a reward. The difficulty of the hash decoding algorithm increases due to the increasing number of miners. As a result, miners need a higher level of computation to solve them. This of course means more expensive equipment and higher energy consumption. The negative effects of this on the environment and climate change are the subject of another article.

There are no miners in the PoS consensus. However, the more tokens the block producers selected according to their token share have, the more blocks they can work on. This method was developed as an alternative to PoW, which offers lower cost and energy consumption. High stakes users, on the other hand, are selected for verification, giving them much more power than most other users. In response to this problem, DPoS was implemented. Block producers are selected by all token holders through a voting system. Therefore, BPs must demonstrate to the community that they are worthy of their grant by excelling in transaction verification, block generation, and overall maintenance of both the mainnet and testnets. The voting system for Telos is counter-weighted; this means that the weight of a vote depends on the number of votes cast. Token holders have a maximum number of BP candidates to choose from. If they vote for that number of candidates, their vote will have full effect, while if they vote for fewer candidates, the votes will be devalued. This procedure avoids voting and encourages the higher performance of BPs.

Among the top 100 cryptocurrencies, the most common consensus mechanism is PoS. More than 55% of token projects use this method. Looking at the returns earned by the consensus mechanism over the past 1 year, we can see that Pow tokens outperformed other categories followed by DPoS.

On the other hand, coins with the most returns with the consensus mechanism can be further fragmented by the economic model and consensus mechanism.

Deflationary PoS has had its best performance in the past year. On average, it saw growth of over 6000%, while Inflationary PoW tokens saw growth of over 4000% over the past year, the second-best performing. In the case of Deflationary PoS tokens, investors have a fixed cap on the total supply. Thus, they are attracted to token models where they can earn returns on their holdings. In the case of Inflationary PoW tokens, investors are once again incentivized by cash flow, but this time by mining rather than staking. For mining rewards to be high on new platforms, token issuers must use an inflationary model that allows them to offer high returns for early miners.

Token Distribution Channels

There are multiple ways of token distribution. There are options, such as an ICO (or IDO) or Private Sale, that are funded by allowing the token issuer to sell the tokens directly at a fixed price. There are also unfunded options such as distributing tokens to existing holders of another crypto or allowing users to sign up to receive tokens via an airdrop. Tokens can also be released only through PoW or PoS, where the tokens act as a reward to miners or token holders who choose to have stakes in the network. These distribution methods have varying effects on the performance of the token.

However, deflationary currencies like Bitcoin often have a distribution method. This method is also mining. On the other hand, inflationary currencies like Luna have more than one distribution method. These distribution methods are:

• Inflationary Rewards: Staking or Mining
• Fundraising Events: ICO (Initial coin/currency offering) or Pre-Sales
• Airdrops

Many of the protocols that distribute rewards on the basis of platform usage are deflationary. Therefore, it has a fixed upper bound. This means it’s always early users who get the rewards. Thus, it promotes Token discovery.

References:

https://www.oreilly.com/library/view/what-is-the/9781492072973/ch01.html

https://research.thetie.io/token-economics/

This article is an excerpt from https://medium.com/coinmonks/what-to-understand-by-the-token-economics-cb222160c39b

The number of mobile fitness application users surrounding our digital world is increasing day by day. With the pandemic, mobile fitness apps have become an accessible tool for many users to exercise and stay fit. On the other hand, users identify some applications they downloaded as a psychological factor themselves. For this reason, it is a known situation that many installed fitness applications are deleted without using them. The digital world is constantly expanding and growing. However, users find it difficult to find suitable applications for them. In this article, I will examine in detail the Fitlich app that I love and the FBute Token, which is expected to enter the cryptocurrency market soon by the Fitlich app.

I. Overview of the Fitlich app

Fitlich app is a fitness application that explains more than 200 exercises with visual, written and short videos. When you download the Fitlich application, it is possible to access the exercises without registering to the application. If you register for the application, you can have advantages for FBute Token, which I will explain below.

The first feature that caught my attention in the application was the multi-language support. Another feature, the ability to challenge friends or family, was where it differed from many apps. On the other hand, the app’s ready-made challenges make a lot of sense for those who don’t know what they want to do.

After downloading Fitlich, I started inviting my friends. Then I compared the Free and Premium memberships. Each accepted invite earns me 50 FBute Tokens, while five per cent of the coins earned by my friends are also loaded into my wallet. The Wallet feature is only available to Premium users. Like many other apps, ads do not appear when the user is Premium. In the free membership, as I mentioned in my previous article, you have the chance to earn 5 FBute Tokens per day, while in the Premium membership this goes up to 10 Fbute Tokens. Of course, this amount of coins is the upper limit that can be earned by doing the exercises in the app. Otherwise, with the integration of Google Fit or Health Kit, the calories you burn while walking and running turn into crypto money.

Premium users incur a transfer fee when transferring the equivalent of the FBute Token loaded into their wallets. That is the nature of the business. Since Fitlich is a user-friendly app, it is a good feature to sell transfer credits to users to avoid this extra cost. For free users, all workouts can be viewed for free.

II. What does FBute Token do?

In my other two articles, I researched mobile apps that offer users cryptocurrency/tokens with exercise/steps. I tested many mobile apps by downloading them to my smartphone and tablet. Of these apps, clearly the most useful was Fitlich. In this article, I want to write about FBute Token offered to users by Fitlich.

FBute, above all, is a stimulant that motivates users who do sports and want to stay fit. FBute is a cryptocalorie system built on the Solana network. The calories burned by users are recorded with Google Fit, Apple Health Kit or Fitbit tracker, which integrates with Fitlich. The saved data is given by Fitlich to users as a Fbute Token reward.

NFTs and the Metaverse universe, which are seen as the future of the digital age, seem to pave the way for many creations. Many mobile apps are in a hurry to find a place in this universe.

According to the whitepaper posted on Fbute’s official site, the Fitlich NFT Store will open at the end of 2022. The Fitlich store will accept FBute Tokens for virtual avatar outfits where users picture themselves.

III. FBute Architecture

According to the white report, FBute managed to create a full supply of 10 billion coins. We now know that as users burn calories, calories burned are converted into FBute markers. The Fitlich app charges a very small nominal transaction fee as calories are converted into coins. Fitlich also calculated the maximum caloric load he could burn to avoid deviations in earning coins. It is 300 Kcal per user. I think the developers of Fitlich put a very logical limitation.

The FBute coin supply is segmented to maximize benefits for all users using the network. As Fitlich is a community driven and community rewarding app, a similar segmentation has been done on Fbute Token. Accordingly, 9 billion tokens were allocated to the Fbute community, ie Fitlich users. A portion of the remaining one billion coins is reserved for investors and brokers. A small part of it was designed and implemented as an application bonus. The so-called referral bonus is reserved for superusers, fitness trainers, personal trainers, and users with a large clientele. The rest is dedicated to the team that created and developed Fitlich & FBute and made improvements.

Conclusion

Fitlich is a mobile application developed to see and fill the cryptocalorie gap in the fitness market. In addition to its Cryptocalorie feature, it also closely follows the developments in the digital world. An example is the availability of digital clothing usable with NFTs and FBute Tokens. In this context, Fitlich and FBute seem to aim to be a pioneer in the Metaverse by bringing a new perspective to the concept of exercise.

References

1. Is it worth using mobile apps that issue tokens? | by Karl Liebermann | Coinmonks | Apr, 2022 | Medium
2. Is it worth using mobile apps that issue tokens-2 | by Karl Liebermann | Apr, 2022 | Medium
3. www.fbute.com
4. www.fitlich.com
5. A Healthy&Funny Way To Earn Tokens | by Karl Liebermann | Apr, 2022 | Medium

This article is an excerpt from https://medium.com/coinmonks/a-health-amusing-app-to-earn-tokens-22e91f4eff73

Exercising is a necessity for the human body. By exercising, we stay in shape physically and we feel better mentally. Despite all these positive aspects of exercise, exercise is one of the hardest things to do consistently. There are many days when we lack the motivation and perhaps the time to go to the gym. Sometimes you feel that you haven’t made much progress in this journey even though you have been doing fitness for a certain time. In this case, you should try to find different sources of motivation to continue fitness. Earning tokens while exercising can be a good motivation tool. In this article, I will focus on mobile apps that can earn you tokens while you are exercising, walking or building your body.

So how about earning cryptocurrencies while exercising? Does that provide some motivation? I bet yes. Who doesn’t want to win while burning that belly fat? In this article, I will present to you five apps that pay you to exercise.

In this article, I’ve covered the seven best fitness apps that pay you to workout. You only need a smartphone and a fitness tracker to get started.

1. ActiFit

The Actifit mobile application automatically tracks your daily activity. You can earn tokens while walking, running, doing chores or tracking any activity you do.

The Actifit app has its own token called AFIT tokens. According to Coinmarketcap, 1 AFIT is worth approximately $0.15. On the other hand, Actifit includes two core tokens:

1. A-AFIT

2. B-AFITX

With A-AFIT, you can buy virtual and real fitness products and challenge your friends in competitions.

B-AFITX is the governance token and the core token of our DeFi ecosystem. With this token, you have the right to vote on the future of Actifit and its ecosystem. Finally, Actifit currently operates on three blockchains: Hive blockchain (https://hive.blog), Steem (https://steemit.com) and Blurt (https://blurt.blog) as the base blockchain.

2. Lympo Market Token

LMT (Lympo Market Token) is a utility token designed to be the purchase, use and attribution currency of sports-themed digital collectibles (in the form of non-fungal tokens, NFTs) inside and outside of various games.

The LMT ecosystem is envisaged to develop in two phases:

1. Digital collection phase: It has been stated that in this phase, NFTs of world-renowned athletes and clubs, influencers and special sports characters will be released according to a specific schedule that defines the supply of various rare NFT levels, from more common cards to extra rare cards.

2. Content and media development phase: In this phase, owners will be able to use their NFT collections to participate in various content and media events such as various sports games. NFTs will allow users to create and upgrade their own sports hero characters to join teams and participate in competitions and other win-win events. Finally, according to CoinMarketCap data, 1 LMT is currently $0.002519.

3. Sweatcoin

This fitness application, which I introduced in my previous articles, is based on walking. The app pays you as you walk. It has its own virtual currency called Sweatcoins. To use this app, you need to register and link your smartphone’s health and fitness data and GPS location to the Sweatcoin app. The app then tracks how many steps you take in a day and converts it to Sweatcoin.

For every 1,000 steps recorded, the app will pay 0.95 in Sweatcoins (there is a 5% fee on all credits you earn, so they have a value of 0.95). Users can use these coins to trade for rewards such as books, fitness equipment, clothing, exercise classes, and more.

Although Sweatcoin is a form of digital currency, its infrastructure is not blockchain technology. It cannot be considered a cryptocurrency as it uses a central database. Also, like most cryptocurrencies like Bitcoin and Ethereum, it cannot be traded on cryptocurrency exchanges.

4. STEPN

STEPN is a distinctive Web3 application with GameFi elements on the Solana blockchain. It combines aspects of play to win with a fitness app, creating a new category called “move to win”. Users buy NFT sneakers that they can use to save money while walking or running.

STEPN encourages users to live a healthier lifestyle through a simple token reward mechanism. After downloading the app and creating a wallet, users must purchase a pair of NFT sneakers to start earning in the game’s Solo Mode. Let me point out that these sneakers are a bit expensive!

However, STEPN plans to add a Marathon Mode that will feature weekly and monthly races from 2.5km to 15km. Marathon participants will be able to earn and compare their achievements on a leaderboard, with extra rewards for the top-ranked runners.

5. Fitlich&FBute Token

Fitlich is a mobile application that saw the crypto calorie deficit in the fitness market and was developed to fill it. In addition to its cryptocalorie feature, it closely follows the developments in the digital world. An example is the availability of digital clothing usable with NFTs and FBute Tokens. In this context, Fitlich and FBute seem to aim to be a pioneer in the Metaverse by bringing a new perspective to the concept of exercise.

FBute is a crypto calorie system built on the Solana network. FBute token is the name of the reward token that Fitlich app gives to its users. The calories burned by users are recorded with Google Fit, Apple Health Kit or Fitbit tracker, which are integrated with Fitlich. The activities recorded here and the exercises performed are given by Fitlich as Fbute Token rewards to the users.

On the other hand, according to the whitepaper published on Fbute’s official site, the Fitlich NFT Store will open before the end of 2022. The Fitlich store will accept FBute Tokens for virtual avatar outfits that users imagine themselves to be.

References:

1. https://coinmarketcap.com/
2. https://pinayteenvestor.com/7-apps-that-pay-you-to-exercise-get-paid-in-cryptocurrency/

This article is an excerpt from https://medium.com/@karl.liebermann/mobile-fitness-apps-and-burn-to-earn-39093924a68e

Join Flich Telegram Channel and Discord Channel and Twitter

At this point, I can ask the following questions:

1. Why are fitness mobile apps so boring and monotonous?
2. What is the reason for the deletion of these applications?

I think the reason for this is that deleted sports applications do not motivate the user and do not push the limits of the digital world to excite and entertain the user.

What does FBute Token do?

In my other two articles, I researched mobile apps that offer users cryptocurrency/tokens with exercise/steps. I tested many mobile apps by downloading them to my smartphone and tablet. Of these apps, obviously the most useful was Fitlich. In this article, I want to write about FBute Token offered to users by Fitlich.

FBute is first and foremost a stimulant that motivates users who do sports and want to stay fit. FBute is a cryptocalorie system built on the Solana network. The calories burned by users are recorded with Google Fit, Apple Health Kit or Fitbit tracker, which work integrated with Fitlich. Saved data is given by Fitlich to users as a Fbute Token reward.

NFTs and the Metaverse universe, which are seen as the future of the digital age, seem to pave the way for many creations. Many mobile apps are in a hurry to find a place in this universe.

According to the white paper published on Fbute’s official site, the Fitlich NFT Store will open before the end of 2022. Fitlich store will accept FBute Tokens for virtual avatar outfits that users picture themselves in.

FBute Architecture

According to the white paper, FBute managed to create a full supply of 10 billion coins. We now know that as users burn calories, the calories burned are converted into FBute tokens. The Fitlich app charges a very small nominal transaction fee as calories are converted to coins. Fitlich has also calculated the maximum caloric load it can burn to avoid deviations in earning tokens. It is 300 Kcal per user. I think the developers of Fitlich have introduced a very logical limitation.

The FBute coin supply is segmented to maximize benefits for all users using the network. As Fitlich is a community-focused and community rewarding application, a similar segmentation has been made in Fbute Token. Accordingly, 9 billion tokens have been allocated to the Fbute community, ie Fitlich users. A portion of the remaining one billion coins is reserved for investors and brokers. A small portion was conceived and implemented as an application bonus. The so-called referral bonus is reserved for super users, fitness coaches, personal trainers and users with a large clientele. The remainder is dedicated to the team that created and developed Fitlich&FBute and made improvements.

Conclusion

Fitlich is a mobile app that has seen the cryptocalorie gap in the fitness market and was developed to fill it. In addition to its cryptocalorie feature, it also closely follows the developments in the digital world. An example is the availability of usable digital clothing with NFTs and FBute Tokens. In this context, Fitlich and FBute seem to aim to be a pioneer in the Metaverse by bringing a new perspective to the concept of exercise.

This article is an excerpt from https://medium.com/coinmonks/a-healthy-funny-way-to-earn-tokens-287754c5c799

Our bodies are ready and we crave exercise or walking and running. All we need right now is a mobile app to save our data. But this mobile app must first be an app that should be user friendly. Workouts should provide support and even make money. Or do I blow this app up out of proportion?

I will focus on the positive and negative aspects of quite a lot of applications.

I. Fitlich app

First of all, I would like to take a closer look at the Fitlich app and tell you about it.

When you download the Fitlich app, you must first register with the application with an SMS code or with memberships such as Google / Facebook.

The first feature that caught my attention in the application was the multi-language support. Another feature, the ability to challenge your friends or family, was the point where it separated from many applications. On the other hand, the ready-made challenges offered by the application are quite logical for those who do not know what they want to do.

After installing Fitlich, I started inviting my friends. Then I compared the Free and Premium memberships. Each accepted invite earns me 50 FBute Tokens, while five percent of the tokens earned by my friends are also loaded into my wallet. The wallet feature is only available to Premium users. Like many other apps, ads do not appear when the user is Premium. In the free membership, as I mentioned in my previous article, you have the chance to win 5 FBute Tokens per day, while in the Premium membership this goes up to 10 Fbute Tokens. Of course, this amount of coins is the upper limit that can be earned by doing the exercises in the app. Otherwise, the calories you burn while walking and running with Google Fit or Health Kit integration turn into crypto money.

Premium users are faced with a transfer fee when transferring the equivalent of the FBute Token loaded into their wallets. It’s the nature of the business. Since Fitlich is a user-friendly application, it is a good feature to sell transfer credits to users to avoid this extra cost. For free users, all workouts can be viewed for free.

II. Reviewing of Other Apps

1. STEPN

STEPN’s application interface seemed very simple to me. It is also possible to earn money from STEPN. On the other hand, each user must buy one Sneaker to earn money using this app. This requires an expenditure of approximately $1000. In short, if you spend money first, then STEPN is willing to give you money!

However, logging into STEPN is not easy either. It was a little too hard for me. After the activation code directs you to discord or telegram, you can only log in to the application with a link given to you by STEPN. It doesn’t make much sense to spend $1000 to make money on STEPN, while you can make money by burning calories at Fitlich.

2. Sweatcoin

Sweatcoin is an app that earns you money by walking. However, the language support in the application was not enough for me, frankly. This part should be improved. In addition, it is possible to earn money in this application. However, you can only spend the money you earn by buying the goods in the shop offered to the user by the application. Because Sweatcoins cannot offer a cryptocurrency infrastructure to the user. Therefore, no matter how much money accumulates in your account, it is impossible to turn it into cash. Another downside is that, as I mentioned above, the app relies only on exercise. Compared to Fitlich, which offers over 200 workouts to free users, Sweatcoin falls short.

3. CaloRun

CaloRun also has a Fitlich-like challenge infrastructure. However, in order to participate in these challenges, you need to pay first, like Sweatcoin. In short, another application that does not give without buying.

4. Cash for Steps

Like Sweatcoin, this app was developed just to take a step. I could not see the cryptocurrency and exercise infrastructure in this application.

5.Wirtual

This app obviously looked good at first glance. However, after downloading the application, when I entered my phone number to log in, the activation code did not come. I’m still waiting for the code! You can also challenge in this application.

Conclusion

In the mobile application world, fitness and health applications are very fashionable. However, it is not always easy to choose the most useful and profitable application for the user. The main motivation for me to write this article is to help users who do fitness and try to stay healthy. Some of the other apps I’ve reviewed outside of Fitlich ask for the user’s money first in order to monetize. Again, the content of the applications and the themes they give to the users are very limited. Fitlich, on the other hand, seems to offer a whole new world to the user. Chance to challenge with your friends. More than 200 healthy exercises and more. Integration with Google and Apple. Multi-language support. Option to earn money while burning calories. I don’t think there is any other application that has them all together.

This article is an excerpt from https://medium.com/@karl.liebermann/is-it-worth-using-mobile-apps-that-issue-tokens-2-fca661daefff.