What is STEPN and How to Make Money Out of It?

By Christy Bella

What is STEPN and How to Make Money Out of It?

In 2022, the sphere of play-to-earn games where users can earn cryptocurrency, or NFT, was one of the main drivers of cryptocurrency market growth. This year, the segment moved to a new stage of evolution, such as tokens for physical activity and, in particular, jogging.

The Stepn Move-2-Earn gaming crypto project has already received several million US dollars in investments from large investment companies and many players around the world.

The game was created as an application on the SOL blockchain and quickly gained worldwide popularity. The project motivates people to lead a healthy lifestyle and, at the same time, introduces them to the world of cryptocurrency.

The app is available for owners of devices on iOS and Android platforms, and it can be downloaded from the App Store and Google Play. Further, users of the program will be able to receive rewards in the form of cryptocurrency, which is accrued for jogging and walking.

The tokens received can be stored or exchanged for fiat money. However, before doing so, it is necessary to purchase virtual NFT STEPN sneakers. Such an opportunity is provided in the application itself and on third-party platforms such as OpenSea, Binance, and others.

As a user participates in the project, he “pumps” his sneakers, improving their properties. The higher the level and characteristics of these attributes are, the more the participant can earn. Some users claim that they earn thousands of US dollars monthly on the game.

The project uses Solana and the tokens GST and GMT. The first coin will be needed to buy sneakers, but it has nothing to do with the application itself. GST and GMT are cryptocurrencies owned by the project.

Green Satoshi Token (GST) is a STEPN token with a limited issue of 6 million coins. It is possible to receive such cryptocurrency already at the initial stages.

Green Metaverse Token (GMT) has a no-issuance limit, and only top-level sneaker owners will be able to earn such tokens. Last year, GMT token was one of the fastest-growing cryptocurrencies making it one of the best-performing web3 2022 crypto tokens.

There are 30 levels in STEPN. After overcoming the next stage, the participant receives additional opportunities. If the project participant reaches level 30, he gets the opportunity to earn GMT. At this stage, he can choose any of the STEPN tokens, switching freely between them.

There are three game modes available in the app:

Solo running or walking
Weekly or monthly marathons
Background activity when the application is turned off. It allows you to determine the number of steps travelled per day. However, the STEPN user will not receive any reward for this, and there will be no sneaker pumping.

In addition, various quests can appear in the application. By passing them, users receive income and other rewards.

Several specific factors affect the rate of return, among them:

speed of movement
quality
level
efficiency

If the speed of a particular project partaker is outside the range given for the sneakers, the yield will decrease. At the same time, much depends on the quality of NFT items. With each new stage, sneakers acquire improved characteristics. Of course, profitability also depends on the level of a STEPN user.

To earn money, you need to be attentive and make certain efforts. In addition, you need to consider the stability of the sneakers. With a high level of wear and tear, the efficiency will fall to a critical point. To restore the parameters, the sneakers need to be repaired by spending a certain amount of GST.

In addition, there are other ways of generating income, such as investing in cryptocurrency. Project participants receive or purchase tokens, (for example, you can make an MDT to GMT exchange on Godex) and then earn from their storage.

If the value of the cryptocurrency grows, its owner makes a profit due to the difference in the exchange rate. Furthermore, the owners of virtual sneakers can earn on their resale. Such an opportunity is provided on marketplaces that trade NFT. Some participants rent sneakers, receiving a fixed income or a percentage of the profit.

However, despite the reality of earning in STEPN, the question is about the reliability of this project.

The creators claim that STEPN has credible tokenomics, which allows for stable growth, but these words raise doubts. Some experts are sure that the project is kept at the expense of funds of new participants, and there are almost no real investments in it now.

Therefore, the long-term prospects of STEPN look very vague. At the same time, the possibility of receiving real income, albeit small, is still available.

Does STEPN motivate you to do sports? From this perspective, the project has an unambiguous benefit. Many participants of the platform took up running thanks to the prospect of earning cryptocurrency, well, and some continued their workouts, getting additional motivation.

Author Profile

Christy Bella: Blogger by Passion | Contributor to many Business and Marketing Blogs in the United Kingdom | Fascinated with SEO and digital marketing and latest tech innovations |