There’s always a trend in the Crypto space. Experts say that even in the worst bitcoin dip, there is always a coin/token attaining an All-Time-High.
It was Defi projects in 2020 and NFTs and meme coins in 2021. Now, in 2022, the new trend is ‘Move-to-earn’, a term referring to projects that reward users for living healthy, exercising, socializing, and using transport services.
Several ‘Move-to-earn’ projects have been launched on the blockchain recently, most notably among them, $Stepn. This project alone has done over 200% since its launch and is now setting the trend in the ‘Move-to-earn’ sector of the blockchain.
What is STEPN?
Stepn is a web 3 application built on the Solana blockchain that allows users to earn rewards for walking, jogging, or running outdoors with an NFT Sneaker.
Stepn went live on December 20th and has done considerably well for itself. In the past 30 days, it went up over 502%. The governance token of Stepn is the Green Metaverse Token ($GMT).
At the time of writing, Stepn’s market cap is at $1,972,330,806 with a circulating supply of 600 million ($GMT)tokens.
How To Earn From STEPN
To start earning on the web 3 app, you have to download the Stepn app from your iOs store or play store(not available to every country yet).
After signing up, you have to buy sneaker NFTs with $Solana. Every sneaker NFT has its unique attribute and gem socket.
With the sneaker NFT, you can begin earning for walking, jogging, or running outdoors. There is a moonwalk mode activated when you are in transit via a vehicle rather than exerting your energy using muscles. In this case, you do not earn any rewards as Stepn’s purpose is to stay healthy, fit and combat climate change.
Usability Of STEPN
The built in Stepn wallet allows you to swap your token rewards to other cryptocurrencies and trade your NFT sneaker.
Users can also rent sneaker NFTs for free, move and earn. Rewards are split in the 70-30 ratio between the sneaker owner and renter respectively. This enables non- crypto users to try for free.
There are in-app features that allow you to upgrade your sneaker NFT, mint your shoe, open mystery boxes and customize your sneaker NFT.
What You Earn From STEPN
Stepn uses a dual-token system, meaning that, it uses two tokens:
1) GMT: This is the Green Metaverse Token and is the governance token for Stepn.
Users can stake their tokens to have a voting power. The longer you stake your tokens, the higher your voting rights.
GMT has a total supply of six billion tokens and is only attain able by users at Sneaker Lv30.
2. GST: This is the Green Satoshi Token and is the utility (or game) token for Stepn.
This is the rewards users earn in-app and it has an unlimited supply.
Both tokens can be swapped for money and thus are valuable.
How Much Do I Start STEPN With
With Stepn, you can earn with $0 capital. All you need to do is:
1) Download the app
2) Sign up
3) Rent a sneaker NFT
4) Move to earn
5) Split your rewards with the sneaker NFT owner.
How Much Does A Sneaker NFT Cost
Right now, Stepn’ sneaker NFTs range from 12.47 $sol to 87 $sol. The price has a direct influence on the sneaker attributes. The higher the price of your sneaker NFTs, the higher your rewards.
Web 3 didn’t come to play and so did you. Take advantage of this new trend. If you love Stepn, you’ll like Everest too.