STEPN A Move to Earn project has revolutionized the Crypto world.
What is the STEPN DApp?
The decentralized application STEPN developed under Solana’s Blockchain, has introduced a new concept to the crypto market with its Move to Earn system. This system tracks the steps and the route generated by a user of the platform, and for thek, distance travelled, it is rewarded with tokens that have an exchange value in cryptocurrencies. This concept is closely linked to the boom of games such as Axie Infinity or Sandbox, where there are Play to Earn methodologies, which consists of increasing your earnings, depending on your skill and investment made in the game.
The primary goal of STEP’N is to promote and consolidate a healthy life among the users of the platform. For this it has an economy based on 2 tokens, the first of which is the GST, which has uses to interact with the application, such as buying NFT’s or rewarding players. On the other hand, we have the GMT token (Green Metaverse Token), which has governance functions within the platform and goes hand in hand with its evolution. In fact, recently released on March 9, 2022, the STEP’N GMT token achieved a return on investment of close to 15,000% in a matter of minutes. This is thanks to the partners, investment funds and blockchains involved in the project.
The project has a Roadmap or rubric of important events or milestones reached by the STEP’N team, as well as plans for the remaining three quarters of 2022 and 2023. Among the points to highlight, we have the development of the mobile app, both for iOS and Android devices. Likewise, they have finished the development of an internal NFTs marketplace in the application. These NFTs represent pairs of Tennis or Sneakers with certain performance characteristics, which help track each user and provide a reward for each step, promoting physical activity outdoors.
How does the platform work?
After installing the app of the App Store or the Google Play Store, we can find an interface very similar to an online store, where the Sneakers are marketed in version NFT. Each has different attributes at varying scales, which implies price changes. Features range from “Resistance” to “Luckiness” and will be very important to gain experience points or know when you should burn tokens of the platform to level up your shoes and improve their attributes gradually. The costs of the Sneakers are very varied and are available from 10 SOL (about 900 USD today). However, if this amount of money is not available, it will be possible to rent the NFT’s for free from someone else on the platform in the coming months, sharing the profits of your physical activity together with the owner of the NFT Sneakers.
How to learn how to invest in projects like STEPN?
On the other hand, if you have an investor as well as an athlete or a video game lover, with platforms like STEPN or Axie Infinity you can get some returns in the short, medium or long term. However, it is essential to learn how to invest, for which I recommend the following points in the case of STEPN:
• Learn about the project by analyzing your Whitepaper from the official website.
• Do a light technical analysis of project tokens on platforms like CoinMarketCap or Exchanges like Binance.
• Do an investigation of the team and partners behind the project. In the case of STEPN, you can find out the career path of each member of the team from the web, where they link to LinkedIn profiles.
• Talk to people who know the industry. (At Arture and Space Lab we run a group where we analyze different projects of the crypto market constantly, you can join by clicking here)
- Find out more about the blockchain based on which the project is mounted. In the case of STEPN, you can start with SOLANA ($SOL), one of the most promising and profitable blockchains of 2021.