The Experience and Earning (E2E) ecosystem of non-fungible tokens (NFTs) rewards the people on the chain for performing everyday activities, providing everyone with new forms of value creation. This was previously intended for players who invested in playing to earn worlds (P2E).
While P2E had a record year (according to a recent report by DappRadar, in-game sales of NFT reached $4.5 billion), most blockchain games still rely on some level of skill, such as combat, breeding or collecting strategy, that attracts players. with downtime. Humor and sometimes some initial money to invest are prerequisites that can prevent anyone who is not a player from joining NFT to make money.
On the contrary, the service experience is intended to reward the most achievable investments people make in themselves, others, and the world, and to increase and reward opportunities for everyone to join the chain.
Where experience is valuable
By definition, it is the “experience economy”, or the concept and title of the bestselling book by James H. Gilmore and B. Joseph Payne, “Experience creates economic value.” This E2E designer expands beyond economic value to create value in social experiences, self-care, and self-development.
Imagine an ecosystem that rewards you for everyday behaviors that add value to your life, others, or the world. Daily activities such as exploring a national park or a new country, surfing, playing tennis with a friend, watching a favorite band or team, taking care of your physical and mental health, or supporting your favorite charitable cause.
On the topic: Metaverse, play to win, and a new gaming financial model.
By now, you’re probably already doing these things and even tracking some of them on your watch, phone, apps, and calendars — even for tax returns. In one location, E2E will monitor and provide behavioral cues to reward repetitive, consistent, or better behavior. In the meantime, E2E sees these activities being rewarded with more everyday activities you love for more desirable or exclusive experiences.
Think of E2E as offering your favorite airline’s complete loyalty program without the green spaces and associated costs.
The power of experience to earn
The experience-to-earnings model will create significant and sustainable benefits for participants, as well as for businesses and non-profit organizations.
Live an Historic Life: The human factor is the hallmark of the E2E ecosystem, where activity, commitment, customization, self-development, and empathy determine the reward structure compared to virtual P2E activities with player skills and strategy. In E2E, time is the currency of value, and people see the value of time well spent in a range of everyday experiences, in more demanding and exclusive experiences that contribute to historical lives that people can’t wait to tell others about.
Encourage Inclusive Growth: E2E encourages a growth mindset, where learning leads many aspects of the path to becoming better. Just as Pokémon GO has added more than one dimension (interaction, movement, and exploration), the E2E model plans to serve members, small businesses, and nonprofits more holistically: personally, mentally, physically, socially, professionally, and financially.
Improved emotional well-being: The more exciting, shared and memorable the E2E reward, the more dopamine is released, which leads to better mental health, especially after years of COVID-19 restricting IRL activities, travel, and sports.
Creating conscious communities. Although Generation Z has proven to be the most conscientious generation, the pandemic has also enhanced people’s understanding and empathy. The E2E model provides a more meaningful relationship with each other, with their communities and their world. In this way, experience rewards can reflect who they are and inspire them to become what they want to be. For example, promoting ecotourism activities.
The Metaverse promises an IRL experience: Rather than viewing Metaverse events as a deconstruction of IRL events, E2E will see them as complementary, galvanizing people’s passion for current interests and opening them up to new, unique, and intimate experiences. For example, creating metaverse street parties can expand the range of VIPs’ more intimate experiences with artists.
Reward for contributing to the community. The mainstay of any NFT that earns DNA is its economic benefit in the form of tokens, NFTs, annual interest rate (APY) or other ecosystem benefits.