What if we say that exercising and earning cryptocurrencies at the same time is possible? Well, the new-generation STEPN project makes it real: buy NFT sneakers, move, and earn money for being super-duper active. That’s actually all you need to earn the system’s internal tokens. Intrigued? Let’s dive into the details.
STEPN is a web3 lifestyle app that offers some GameFi features. The app is built on Solana blockchain technology which encourages users to move to earn. Users can earn GMT tokens by walking, jogging, or running. There is only one nuance — each participant should purchase NFT sneakers from the marketplace. You might say, “WHAT?!” Don’t worry, we’re going to dot the i’s and cross the t’s.
As a lifestyle concept, STEPN is gaining more and more momentum. This is not surprising! The idea behind the project is to combine socialization and motivation for people to lead a healthy lifestyle. Previously, everyone was just looking for creatures in the Pokemon GO game, but now you don’t need to climb into the wild: just move wherever you want and earn.
STEPN was created by a fintech studio that is based in Australia. In 2021, the team was Solana Ignition Hackathon Gaming Track’s leader. In March 2022, STEPN hit the market after its token sale on Binance Launchpad.
How Does STEPN Work?
To start earning money, you need to download the app on your phone. It is available for both Android and iOS. Well, you can just scan the QR code to your left to eliminate these tedious searching steps.
Are we all set? OK, let’s move to the next step. Connect STEPN’s wallet and transfer some Solana tokens. Don’t have any? We’ve got you covered. Here you can find a range of offers on the market to acquire SOL for the most delightful price.
You can ask yourself, “Why do I need to invest in something? I just want to earn.” The thing is that the STEPN app runs on the SOL currency, so you need to have it.
Before starting your journey, you need to acquire NFT sneakers. Choose a pair from the in-app marketplace after completing the sign-up process. Then, connect your app with your new cool sneakers. You’re all set! Run, walk, and jog anywhere in the world and earn points that actually are in-game currency, GST. Wait, what? Where is this hyping GMT token? We’ll discuss it in the next part of the article.
By the way, if you try to cheat and use any vehicle to earn money, it’s not going to work. In this case, you’ll get a Moonwalking notification that indicates the system knows you’re not using the muscles to move. All about health promotion, isn’t it? Now, let’s get back to in-game currencies.
STEPN’s In-Game Tokens
The STEPN app works with two types of tokens: GMT and GST. How are they different? One of them is for utility, and the other is for fundraising. Let’s figure it out.
Green Metaverse Token (GMT)
The GMT token is the governance token of the STEPN project. With a limited supply of 6,000,000,000 GMT, it can be earned through a classic tokenization process such as a token generation event. It’s like an ICO, which was so popular back in 2017. In other words, a token generation event is an event where tokens can be minted. As of May ’22, the current supply is only 600 million GMT.
Besides, GMT can be earned by simply walking, jogging, or running outside. As long as you move, you earn. GMT tokens can be used to pay for digital items and upgrades, as well as for staking and voting on future changes to the platform.
The easiest way to make money on GMT tokens is to exchange them or cash them out. Please note that GMT can be swapped to USDC, but only after your sneakers reach the 30th level.
Green Satoshi Token (GST)
GST, an in-game utility token, can be used to purchase goods in the app. One can mint it through the game when moving. The cool thing is that GST tokens have an unlimited supply. GSTs repair, unlock, reset, or even level up your sneakers. GST can also be easily swapped to USDC with no additional specifications.
What Are Those? These Are Sneakers
There are five characteristics of sneakers in the game:
- Attributes. These are the main characteristics of your sneakers. It includes efficiency (how many GST tokens you earn while moving), luck (the quality and frequency of a Mystery box drop), comfort (affects the rate at which you earn GMT tokens), and, finally, resilience (durability of your NFT). You can reset the attribute points by burning in-game tokens.
- Type. Sneakers vary in their type: walker, jogger, runner, or trainer. Each type gives a limited amount of GST for every Energy spent.
- Quality. This metric indicates the uniqueness of your sneakers. They can be common, uncommon, rare, epic, or legendary.
- Level. The NFT Sneakers have different levels. To upgrade the level of their sneakers, users have to burn GST tokens.
- Customization. When your sneakers reach the 30th level, you can customize them by burning the tokens.
Perhaps, this May, this project is at the peak of its hype, so it’s only natural that many users are looking for flaws in it. For example, some buy cheap smartphones and NFT sneakers and give them to walking couriers. This is how they make money on the idea. Nevertheless, the concept behind the app is inspiring. In an era when we all began to move less, and there is less motivation for sports and walks, STEPN is a great way to pump your muscles and earn real money from it!