MoveZ Crypto: Should You Buy the Newest Token on the Block?
MoveZ crypto is starting to hit some major exchanges. This new token is listed on the OKX and Bybit exchanges as of June 10. And based on the number of social media followers this new project has amassed, interest is expected to be high.
At last check, the MoveZ crypto Telegram page had more than 66,000 subscribers. And its Twitter feed (which is just a couple of months old) has more than 107,000 followers. That’s more than some of the top 10 cryptos in terms of market cap have. So if nothing else, kudos to the MoveZ marketing team.
But what’s the actual point of this new token you might be asking. Well, it’s designed to motivate users to be more active. Something most of us could use a little help with. This token will be the governance token of the forthcoming MoveZ application. According to the litepaper, this application is based on a move-to-earn model. Users will earn crypto tokens by simply moving.
Whether you’re jogging, hiking, hitting the pool or just going for a stroll around the block, users will earn in-app currency. And those tokens can be donated to charity or cashed out for a profit. That part’s up to the MoveZ-ers. The in-app currency token will be different than MoveZ crypto though. While using the application, folks will be racking up $BURNZ tokens.
Will MoveZ Crypto Get Folks off the Couch?
As of right now, the MoveZ application is in the alpha testing stage. So MoveZ crypto, which will be the governance token isn’t governing much of anything yet. However, there are some reasons to think good things could come from this platform.
First and foremost, MoveZ comes out of the popular BlueZilla incubator. This is noteworthy because the BlueZilla platform has helped launch a slew of some of the best performing IDOs of all time. Similar to initial coin offerings (ICOs), IDO’s are initial DEX offerings. And DEX stands for decentralized exchange.
Furthermore, the move-to-earn platform has been tested by other applications. And it’s shown to have some legs. Competitors like Sweatcoin and LifeCoin have millions of users. However, based on reviews, not everybody is thrilled with their experience on these. And that could be the way MoveZ makes some headway in this space.
But it’s worth noting that this project has just entered the first phase of its business plan. For now, we’ve only got access to the MoveZ crypto token. And naturally, it’s a very speculative investment. But maybe (just maybe) early investors that pick this token up for a fraction of a cent could see a big swell in value once the app hits the market.
All of this does make some sense since the MoveZ crypto IDO is to raise some money to fund the future of this project. But it does feel a bit like a company IPOing before it has a product or service to offer. Who are we to judge though? Lyft (Nasdaq: LYFT), Uber (NYSE: UBER) and Pinterest (NYSE: PINS) all have services but none of them are profitable yet. And they all have multi-billion dollar valuations. So this could be the perfect way to drum up interest while raising a little cash in the process.
Like video game’s play-to-earn crypto model employed by Axie Infinity and Decentraland, MoveZ will reward folks for being active. But it’s also rolling out a unique burn-to-earn concept. This boils down to choosing to burn tokens in exchange for doing some exercise. And in exchange for burning in-app tokens, users can be rewarded with other forms of cryptocurrency.
How this all plays out in real life is still a bit of a mystery though. But we’ll be sure to jump in and do a review as soon as we get access. According to the four-phases of the MoveZ crypto plan, that should be within the next couple of months.
Beyond earning and burning crypto from exercise, MoveZ also plans to feature what it calls “boost zones.” These social fitness events where users can see a boosted reward rate for working out. This aspect will also allow for organizations to arrange group accounts. This could be a good way to get gyms to get onboard with the MoveZ crypto project. The idea being that if two gyms cost the same people might be more likely to join one with a boost zone?
The Bottom Line on MoveZ Crypto
The model makes a lot of sense. And we know folks are motivated by even small rewards. So this could be a win-win for crypto fans that have a hard time getting off the couch. But MoveZ crypto is far from a “sure thing.”
There is no app to review yet. And this project is going to rely heavily on a smooth rollout with an easy-to-use interface and good user experience. All of which we’re sure the dev team is working hard on. But until we get our eyes on it, this whole thing is a big question mark.
That being said, crypto gamblers are likely to eat it up. A new coin with a closely watched social media presence is going to generate a good amount of interest. But again, it’s highly speculative. Maybe we’ll be kicking ourselves a few months from now when MoveZ crypto is the talk of the town and the app is a big success. Heck, we’d love to see it. But we’re going to take a wait-and-see approach for now.
About Matthew Makowski
Matthew Makowski is a senior research analyst and writer at Investment U. He has been studying and writing about the markets for 20 years. Equally comfortable identifying value stocks as he is discounts in the crypto markets, Matthew began mining Bitcoin in 2011 and has since honed his focus on the cryptocurrency markets as a whole. He is a graduate of Rutgers University and lives in Colorado with his dogs Dorito and Pretzel.