The internet is where people spend much time exploring and experiencing everything it offers. What if someone told you that all those time could be worthwhile making money by just doing what you are doing? That’s exactly what E2E or Experience to Earn propagates. In a world where time is money, the E2E and other x-to-earn models monetize the simplest activities you perform to earn rewards. If you aren’t already exploring the internet, web3, and metaverse, the Experience to Earn model gives you more reasons to get started.
Read along to know more about E2E and how you can make the most of your browsing time.
The rise of the x-to-earn models is closely related to the rise of web3. As the variety of things and experiences one can have on the internet diversifies, so do how you can make money online.
X-to-earn models revolve around the idea that you will be rewarded for certain online activities. The crucial asset that is being monetized in x-to-earn models is time. The more we spend time performing the activity ‘x,’ the more we will be rewarded. The model perhaps gained popularity with play-to-earn, where users played online games that earned them rewards they could monetize.
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Then we saw move-to-earn, where you walk or move from one place to another to earn. Watch-to-earn is, as the name says, watching media content to earn rewards. We now see the evolution of these models into several others, such as learn-to-earn and Experience to Earn. Web3 is proving day by day that the internet of the future will turn even recreational activities into something fruitful.
An Experience to Earn (E2E) is a new model to earn cryptocurrencies and non-fungible tokens as a reward for doing certain everyday activities. These activities add some form of value to both the doer and the platform. Previously similar models to earn crypto included the popular play-to-earn, where people played games to earn crypto and move-to-earn, such as in the case of STEPN NFT. Experience to Earn aims to reward people based on the investment people put in themselves and others for experiencing.
The Experience Economy is the concept put forth to describe a situation where experience creates economic value. The E2E model expands beyond economic value to create social,self-care, and self-development value through experiences. It could be considered an ecosystem that rewards you for your daily behaviors, counted as experiences to bring value to your life, others, or the world. Some everyday rewarding experiences include watching your band play, exploring a national park, surfing, watching a tennis game, taking care of your physical and mental health, or supporting a charity.
You might already be doing these activities, and some might also be tracking them through smartphones, watches, apps, and calendars. E2E platforms will track all value-adding activities and provide nudges to encourage more consistent behaviors.
Experience to Earn models brings countless benefits to individuals and businesses. Some of them include the following:
Compared to P2E models that require gaming skills and virtual activities, E2E models are rich in human elements where activities such as engagement, personalization, goals, self-development, and empathy decide the rewards. Thus, E2E promotes time as the currency of value, and people find value in time well spent with a range of everyday experiences. This collectively contributes to an eventful arrangement of minute experiences of one’s life.
Experience to Earn encourages the growth mindset and learning that can govern many facets of one’s life. Ultimately it aims at making people their best selves. For example, Pokemon Go made people move and explore to finish rounds. Similarly, the E2E model plans to reward businesses, small profits, and members for their thoughtful acts. It provides holistic growth to the people involved mentally, physically, personally, and socially.
Experiences in E2E can be immersive and shared, which aids in a person’s emotional health. And their actions are rewarded, driving people to do things for a purpose.
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Studies show that Gen-Z is turning out to be the most self-aware generation. Young individuals who enter E2E models intending to try out investment and crypto get out with a heightened sense of community and good deeds. A shared value of good enables community connection in a meaningful way.
E2E models look at metaverses as complimentary to real-life events. Metaverse elevates real-life events to another level of immersive creativity. For example, people can attend a charity event in the metaverse and add points to their E2E platforms.
Central to most E2E platforms is the rewards in the form of NFTs and crypto tokens or even fiat money, if not rewards that can be redeemed for personal benefits. Additionally, you get the benefit of APY (Annual Percentage Yields) and specific ecosystem perks. A successful and sustainable E2E ecosystem usually rewards its members for contributing and supporting projects.
| Factors | E2E | P2E | M2E |
|---|---|---|---|
| How to earn? | Performing a range of activities that count as “experiences,” such as socializing or achieving a personal goal. | By playing online video games and winning milestones inside the game. | People earn by performing a physical activity that often involves moving from one place to another. |
| Who can earn? | Anyone who likes to spend time on the internet with diverse interests can earn. | Users interested in video games and avid gamers who are goal-oriented can earn. | Those who can get ut for some physical activity and movement can earn rewards. |
| Model orientation | Activity-oriented | Gameplay-oriented | Action-oriented |
| Sustainability | Can keep earning across various platforms and activities. | Can earn as long as the particular game is designed. | Depends on a person’s commitment to physical activity. |
| Examples | MetaGaia | Axie Infinity, Sandbox | STEPN, MetaGym |
The Experience to Earn models makes the time on the internet rewarding. But they also prepare the population for the web3 world by encouraging them to experience and explore several new internet elements. For those who have not set foot into the crypto/NFT world, E2E platforms are a safe way to start. E2E models promote online community building and a culture of digital ownership. Elements of gaming, shopping, and creating combined with governance, staking, and paying together form E2E models. This helps a user touches all aspects of a metaverse, preparing them for a greater future of the internet and networking.
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