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There is no argument that there are numerous ways to monetize one’s skills and hard work on the internet. However, the increasing adoption of blockchain technology presents new ways to earn money, from playing your favorite online game or regularly exercising to learning new content or watching videos. Following the massive success of Play2Earn, a slew of new paradigms of economic models have emerged. In this article, we will see different X-to-earn models, the major debate between Create-to-Earn vs Watch-to-Earn economic models, and how both have their own advantages.
Create-to-Earn vs Watch-to-Earn trend has emerged as a major theme in the blockchain industry over the last few years. This trend has resulted in many platforms that enable users to monetize commonly performed activities using on-chain rewards. As the technology is still evolving, many more crypto monetization models will emerge in the future. Here are a few model strategies that are currently taking off:
Play-to-earn has been the most widely adopted cryptocurrency monetization model thus far. Play-to-earn allows players to earn real-world rewards in exchange for spending time inside a game, battling other users, progressing through different levels, completing tasks, and winning competitions. The ability to generate money by playing games could be considered the driving force behind the success of Play-to-Earn games like Axie Infinity, The Sandbox, and Gods Unchained. As this model continues to evolve, so does the range of incentives.
On L2E platforms, you can read articles, take quizzes, and watch videos and tutorials on various topics. Tokens are awarded for your efforts in acquiring new skills and knowledge. This model differs from traditional educational models in which students pay to learn.
Learn-to-earn programs are extremely beneficial, especially for crypto beginners, because they provide educational resources and tangible incentives to those who participate. And perhaps most importantly, they pave the way for the democratization of education by eliminating the need for learners to have specific qualifications or prior knowledge.
Binance is a great place to start your learn-to-earn journey. Not only does it offer a variety of coins to trade, but it also has Binance Academy, where you can find articles on numerous blockchain-related topics and help you to earn free crypto while building your knowledge.
CoinBase and CoinMarketCap are excellent learn-to-earn platforms that will help get you started in the world of cryptocurrency trading and get rewarded for taking crash courses.
After the growing popularity of P2E games arose a new blockchain trend based on the concept of rewarding users for staying physically active. This model can be considered a subset of GameFi, combining gaming, decentralized finance, and fitness. Sweatcoin and StepN are the best examples of move-to-earn platforms, where users are rewarded for active physical movements.
The NFT rewards associated with Move-to-Earn vary in every game. Still, users generally expect incentives (tokens) for exercising, from a regular walk to swimming and jogging, completing tasks, or participating in fitness challenges.
Now let’s dive deep into the Create-to-Earn vs Watch-to-Earn economic models and how platforms employing these models entice their users.
Create-to-Earn is another way to boost the creator economy, especially in virtual environments like the metaverse. This model empowers creative experiences and content creators by enabling fair and transparent compensation for their creative abilities. The benefits of this model are twofold: it allows fans to easily support their favorite creators, while collectors can profit if their digital assets appreciate over time.
Non-fungible tokens (NFTs) have helped to make this model more popular. Many metaverses like Sensorium Galaxy now leverage this model. The users may utilize the platform’s marketplace to develop original work and sell or trade NFTs, making the metaverse a community-owned experience.
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So, how exactly does C2E work?
People often get confused with these popular X-to-earn models, Create-to-Earn vs Watch-to-Earn, but it’s quite straightforward. Create new digital content or asset, such as a new avatar, skin, digital art piece, and music, mint it as an NFT and sell it. You’ve most likely encountered it while playing some of the most popular P2E games, which rely on C2E to promote user-generated content to empower their platforms.
C2E creates a creator economy where users actively create and own game designs while monetizing their in-game assets. The gaming ecosystem becomes more community-driven as content creators are incentivized to improve the overall playing experience.
Create-to-Earn models allow you to buy your own land, create and play games and earn for your creation. Below are some of the most popular games that employ the create-to-earn model:
Sandbox is the most advanced blockchain game, combining a creator-centered approach with P2E. It even has its own tool, Sandbox VoxEdit, for players to use when creating digital assets. The Sandbox game is also one of the first gaming platforms to allow players to create their own characters to use in the game. It wasn’t just a series of competitions. Sandbox recently announced that players would be able to connect compatible NFTs to the Sandverse and use them as wearables.
Axie was also among the first to use the create-to-earn model. Before The Axie Builders Program, players could only develop mini-games within the Axie platform. Still, with the launch of their Builders Program, developers are allowed to create their own projects on the Ronin blockchain.
In Decentraland, users can create a wide range of assets for the platform using Decentraland’s builder tool, such as buildings, animated experiences, wearables, works of art, and more. These assets can be given away, sold on third-party marketplaces, or monetized in the app for advertising, gambling, and events.
Another game that uses the create-to-earn feature is the CryptoBlades blockchain game. It launched the Holiday Boss Raid Art Contest in December. One important aspect of this contest is that the winning entries will appear as Bosses in future updates. This is in addition to the cash prizes for the top five finishers.
Watch-to-earn is a model that allows users to earn digital tokens by watching videos. If you’re not feeling active, watch-to-learn may be a more appealing option than the other models we’ve discussed so far. It’s also a concept that most of us are already familiar with, watching videos on YouTube or reels on TikTok and Instagram. Users can earn digital tokens by watching videos in this business model.
The global digital video content market was valued at $151.4 billion in 2021 and is expected to reach $391.1 billion by 2027.
Amid this expansion, watch-to-learn has piqued the interest of both content creators and consumers. W2E allows you to watch videos, movies, and TV shows from your computer or smartphone in exchange for, you guessed it, crypto rewards.
The watch-to-earn space is currently clearly dominated by a single major player — XCAD Network. YouTube content creators can use the platform to create their own fan tokens and NFT moments, which helps them improve their monetization options and increase exposure. Fans can earn fan tokens by watching and engaging with content from their favorite creators on the platform.
Watch-to-earn models open doors to the newest ways of earning. Below are some platforms that could help you make money by watching videos are:
Swagbucks is a well-known application that pays you to watch videos. Swagbucks allows you to earn points not only for watching videos but also for completing surveys, playing games, shopping online, filling out free-trial offers, and more.
ClipClaps is a relatively new app that has quickly gained popularity. Users will get rewards when they watch short and entertaining videos on their phones.
It’s surprising, but Netflix is also employing a watch-to-earn model. Occasionally, Netflix opens an opportunity for taggers. It’s a lucrative job to tag new Netflix series and connect them with various tags. These precise tags assist Netflix in recommending these shows to appropriate viewers. However, these employment opportunities aren’t always available because of the competition.
If you’re looking for an easy way to make money online, then Idle-Empire is a perfect platform. You can earn cash by completing simple tasks like watching videos, referring friends, taking surveys, and more. Plus, if you don’t mind allowing Idle-Empire to use your computer’s processing power for cryptocurrency mining, they’ll even give you free money with no strings attached.
As you may have noticed, anything that can be monetized using the X-to-Earn model are activities we do at some point in our life. In our article, we focused on Create-to-Earn vs Watch-to-Earn, but there can be a slew of new projects springing up to kickstart another niche — whether it’s Sleep-to-Earn, Drive-to-Earn, Eat-to-Earn, or something else. When deciding which service to work for, research first to learn how people use the game and avoid scams.
You will not become wealthy by watching videos, but you may be able to supplement your income online in your spare time.
But the best benefit of all? You can simply sit on your couch with your device and begin earning easy money online right now.
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