What Is STEPN and Why Is GMT Rallying?
Gamefi is one of the fastest-rising industries in the digital space because it allows gamers to play their favorite games while earning. It combines blockchain technology with gaming in a way that players get incentives. This creates an avenue for extra income.
Imagine a world where you can play and earn money; that’s where play-to-earn platforms come in. Often, gamefi platforms have a play-to-earn model, which works by leveraging cryptocurrencies and NFTs.
One of the hottest Gamefi platforms right now is STEPN. STEPN strives to combine social-fi and gamefi elements. Users who own sneakers can earn GST by walking, running, and jogging outdoors. When players have enough GST, they can mint new sneakers. The platform assures that there is GPS to check the user’s position. And players may also earn more tokens based on the sneakers they hold.
Bityard is the world’s top derivative exchange, where you can access some of the best trading tools in the industry. You can easily create your account and start trading now.
What Is STEPN?
STEPN is a platform that strives to inspire healthy lifestyle habits, such as exercising. It claims to be a web3 lifestyle app that is built to bring a move&earn concept, which involves players moving around to earn some game tokens.
Players get NFT sneakers to participate in jogging and running outdoors, earning them tokens. Users can use their tokens to get new sneakers or sell them for fiat currency, allowing them to generate real income.
According to the official site, the platform hopes to combat climate change and create an avenue for users to connect to web3. While the project is still new, it seems to be gaining traction. The platform’s governance token, GMT, rallied, which could signal that people are interested in being part of the project.
What Does Move To Earn Mean?
STEPN’s core selling point is its stance as a move-to-earn platform. Move to earn are similar to P2E games. The only difference is that in the former, you need to move. In most play-to-earn games, your avatar or player does the activities in-game. It could be battling with other players or even selling digital property.
That said, move to earn games hope to inspire exercising. Not many people love exercising, but they want to try it with a financial incentive. And most games with this model are pretty easy to play; all you need to do is keep moving.
Gaming has changed over the years. With concepts like gamification, users can enjoy playing games and early money in the real world. To play move-to-earn games, all you need is jog, walk or run.
GMT Is On The Move Despite Bearish Market
The digital asset space has experienced continuous price falls over the past few months. This has made it challenging for most cryptocurrencies/tokens to record notable growth. Yet, GMT remains one of the biggest movers in the industry.
STEPN’s governance token, GMT, stands for “Green Metaverse Token.” The token rallied after FTX, one of the industry’s biggest exchanges, announced it would list it. This news got investors interested, pushing many to buy it in anticipation of future price movements.
The token has recorded major price growth over the past few weeks. GMT, which was sold for 1c on Binance Launchpad, currently costs $2.94 (as of the time of writing). While GMT is not the only token built to inspire exercise, it is certainly one of the most popular ones.
Trade GMT here.
STEPN’s Background
STEPN is a blockchain-based game with two utility tokens: GST and GMT. It’s safe to mention that it operates on Solana — one of the fastest blockchains in the industry. This fast-rising network is one of the most preferred chains for blockchain gaming and NFTs.
This game has a GPS to track your movement to prevent people from cheating. STEPN also uses motion sensors and health data to keep track of your movements. The more you move, the more your chances of earning tokens. Also, when your GPS is weak, you may earn less.
Furthermore, your sneakers also determine the number of tokens you get. When you purchase NFT sneakers, you can start participating in the game.
Types of Sneakers on STEPN
1. Walker: Players who prefer walking can choose to purchase walker sneakers. These rewards users with 4 GST tokens.
2. Jogger: For users who prefer jogging, the game awards 5 GST tokens to joggers.
3. Runner: Runners get 6 GST tokens when they cover 8–20 km/hr.
4. Trainer: A trainer earns between 4 and 6 GST tokens.
Final Thoughts
STEPN is a project with a lot of potentials. Users who want to stay fit but are not motivated may become inspired through the move-to-earn platform. It is important to mention that there is a limit to the amount players can earn daily.
Additionally, the project’s governance token has also been rallying, thanks to FTX’s plan to support the token. While the app is still in the beta phase, users can explore and learn more about the project.
Other Articles You Might Be Interested :
__________________________
BitYard Exchange: BitYard.com
Customer Support: Support@bityard.exchange
Business Request: levi@bityard.exchange
BitYard Telegram Communities
BitYard News & Events — https://t.me/BITYARDNEWS
English — https://t.me/BityardEnglish