[Reporter's Notebook] The 'Workout Complete' Trend, the 'M2E' Ecosystem, and the True Meaning of 'Ownership'

'Workout Complete' is an abbreviation for "I completed my workout today," representing a type of workout verification culture prevalent on social media. Recently, 'M2E (Move to Earn)' has emerged as a core issue within the blockchain ecosystem, and it is here that we can catch the scent of this workout trend.

The concept of M2E, where 'moving translates to money,' and the 'workout complete' action share intriguing similarities. The intersection of these two behaviors is inevitable. M2E is currently a highly trending new-concept fitness reward project in Korea; it is a system where exercises like walking or running turn into money. Businesses gathered around this project have even formed a massive cluster.

Representative service providers include SUPERWALK and STEPN. These projects reward users who possess sneaker-shaped NFTs (Non-Fungible Tokens) for exercising. Compared to 'P2E (Play to Earn),' which involves acquiring rewards by playing games, the pace of M2E's adoption is relatively fast. This can be attributed to the fact that it first seized the concept of 'Ownership.' Through shoe NFTs, it has preemptively popularized 'ownership,' a core concept of Web 3.0.

Will the 'Workout Complete' trend become a catalyst for M2E?

The noticeable increase in the 'Workout Complete' hashtag on social media is not unrelated to the rise of M2E. As health awareness shifts, particularly among the younger generation, the workout verification culture is expected to expand further. Consequently, interest among M2E users is also predicted to rise in tandem.

The reporter notes that M2E is gaining traction at a time when the 'Workout Complete' hashtag is trending. As seen earlier, it is clear that the workout trend and M2E share a parallel trajectory. Both domains share a commonality: failing to reach set targets can result in a disruption to rewards. (In the case of M2E, the reward is tokens, while for the workout trend, it is health.) In this regard, when these two trends converge, they are expected to create significant synergy within the industry.

NFT Ecosystem: Still a Long Way to Go, but Interest 'Remains'

The fact that M2E rewards users with tokens through NFTs is noteworthy. However, the core issue at present is that the NFT ecosystem still has a long way to go before it is fully realized. The consensus among industry insiders is that 'NFTs still have milestones to achieve.' For the NFT market, which is still in its startup phase, to become active, more proactive statements and actions are required from within the industry.

In this regard, Upbit, South Korea's largest cryptocurrency exchange operated by Dunamu, is showing exceptional 'sincerity' toward its NFT business. Song Chi-hyung, founder (Chairman) of Dunamu, recently stated, "Upbit NFT is securing a new customer base and plans to expand with various collections in the future," demonstrating a strong commitment to the NFT business. The move by the nation's largest exchange provides positive potential for the activation of the related ecosystem down the line.

However, there are points of caution. Unconditional optimism is strictly prohibited. Related legislation is still insufficient, and there are mountainous challenges to solve, such as institutionalization. It is true that the road ahead seems long. The recent downward trend in shoe-related coins also suggests that the future path is not entirely paved with flowers. Ultimately, constant caution is required in all areas operating under the name of 'business.'

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