Intro to Stepn: What is this Move-to-Earn Trend All About?
In 2021, Solana organized IGNITION; its week-long global gaming hackathon focused on Digital Art & Collectable NFTs, Web3, DeFi, and Gaming. Find Satoshi Lab; an Australian fintech firm won the hackathon. Their winning game was STEPN, a mobile NFT game using the Solana blockchain.
STEPN is currently trending on Twitter, Google Play Store (No 26), and generally in the crypto space. So why is STEPN trending? Read on to learn what STEPN is, how the move-to-earn concept works, and the project’s effect on the metaverse.
What is Stepn?
STEPN is a “Web3 Lifestyle App” with NFT and Gamefi elements on Solana. The game combines aspects of a play-to-earn game with a fitness app to create a new category called “move-to-earn.” Move-to-earn means you can buy NFT sneakers, which you can use to earn in-game tokens while walking, running or jogging.
The move-to-earn concept is how STEPN aims to revolutionize fitness apps by incentivizing users to live a healthier lifestyle while promoting carbon neutrality. The app is available on Android, iOS and has a functioning GPS. After STEPN’s successful IDO in March, the project plans to launch on other chains shortly.
How does STEPN work?
The way STEPN works is simple. After successfully downloading the app, the user needs to connect their wallet and transfer Solana (SOL) to buy NFT sneakers on STEPN. SOL is the main currency for transactions on the STEPN app, so it’s compulsory you get some.
The game begins when you acquire a sneaker. You can purchase and use different types of sneakers once per day. The sneakers are classified into four categories. There are walkers, runners, joggers, and trainers. Trainers earn the highest tokens, while the walkers earn the least.
Once users acquire a sneaker, they can connect their app with sneakers and walk or jog around, earning points as they do. You can use these points to upgrade NFTs or sneakers or cash out the money in the real world. However, it is essential to note you don’t need sneakers to start using STEPN. You can download, register and start using the app without sneakers. However, you cannot earn from the app without the NFT sneakers.
What makes STEPN unique?
Unlike other similar platforms before, STEPN offers users the opportunity to earn while interacting with the real world. For instance, you get to interact with people through the different events on the app. You don’t need to run alone as you can join marathons. Also, STEPN is the first NFT game that focuses on your health and wellbeing. Since you have to run, walk or jog, you can keep fit.
Earning on STEPN
STEPN has two different tokens: the green Satoshi token (GST) and the Green Metaverse Token (GMT). GST is the in-game utility token. The token users earn in STEPN when they walk, jog or run. GST’s supply is infinite.
The second coin, GMT, serves as the governance token. GMT is limited and has only 6 billion tokens in circulation. The coins earned on STEPN can be cashed out or used to upgrade items for better earning power.
STEPN Effects on Metaverse
Play-to-earn and recently coined move-to-earn games are all linked to the metaverse. The metaverse is a digital, “better” version of our world. Before now, many experts claimed that the metaverse was still far away and would take time to be functional.
However, STEPN has debunked that narrative. Now, you can actively participate in the metaverse and real world while engaging with a virtual game. Another effect is that it changes the natural world through the metaverse. There is an ongoing argument that the metaverse would increase at the expense of the real world. STEPN proves that it isnt true as people now have the motivation to live healthier lifestyles just by playing the game. There is also STEPN’s focus on carbon neutrality.
I hope STEPN’s move inspires and challenges other Web3 and Metaverse-related companies.
How to buy STEPN?
Is it possible to buy STEPN? Yes, it is. To buy STEPN, you need to find an exchange that lists GMT. An example of such a platform is Binance. STEPN is currently listed and open for trading and can be traded in the following pairs: GMT/BTC, GMT/USDT, GMT/BNB, and GMT/BUSD.
My Verdict on STEPN?
Not everything is as rosy as it seems. From experience, crypto is a double-edged sword as things can go either way. Currently, STEPN and its tokens are performing well. However, that is not enough reason to invest. Before investing, it would help if you did your research. Check their whitepaper and read extensively about the project. Then, decide whether you want to try out/invest in the STEPN platform.
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