STEPN Review and Guide

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What is STEPN?

STEPN is a Solana-based move-to-earn health and fitness software with game components. Sneaker NFT users can run and walk outside to collect tokens and NFT incentives. The money generated can either be withdrawn and sold or utilized to boost earnings within the app. A built-in wallet, exchange, marketplace, and rental mechanism in the mobile app enable non-crypto users to sign up. Following considerable market adoption, significant moves with other large exchanges, and significant moves with well-known shoe companies, STEPN has emerged as the most-played move-to-earn network game in the cryptocurrency industry this year.

Move-to-earn is a revolutionary approach to making money while playing games since it rewards physical and digital activities within a game or app. In other words, your digital software rewards you more for your movement in the actual world. After hitting 300K daily active users (DAUs), obtaining a strategic investment from Binance’s venture capital arm, and introducing a distinctive line of NFT sneakers on the Binance NFT marketplace in collaboration with the sportswear company ASICS, STEPN has been killing it lately.

How does STEPN work?

By downloading an app, purchasing NFT sneakers, and engaging in various forms of exercise, anyone can gain tokens and NFTs in STEPN. Similar to how Bitcoin mining operates, STEPN users must demonstrate that they have exercised physically by investing their own time and effort. The anti-cheating features of the software, which use GPS and machine learning, collaborate with this. Then, users, not game developer FindSatoshi Lab, famed for its work on cryptocurrency wallet Solwallet, mint the tokens and NFTs and send them to users’ wallets. People can exchange their tokens and NFTs in this fashion, participating over time. The value of tokens and NFTs is determined by supply and demand in the ecosystem that STEPN has developed.

STEPN tokens: GMT and GST

Players can choose between GMT (total supply: 6 billion) and GST as their token kind (unlimited supply). A management token called GMT enables users to raise their income. Users obtain GST, an in-game token, for participating in in-game activities. The creators have chosen not to restrict the GMT governance token revenue to a select few to maintain a balanced token ecosystem. Instead, to maintain balance in the mining of these two currencies, they have made GMT and GST widely available.

It is questioned whether GST, with its endless supply, would enter a death spiral because many GameFi initiatives with a similar dual-token system tend to fail. This is addressed by the STEPN model, which eliminates GST earnings at a higher level. When given a choice to select which token to earn as users advance in levels, they are likely to opt for GMT due to its limited supply. As more GMT is burnt and more GMT use cases are made public, this will become more pronounced over time. This should decrease the supply of GST tokens just enough to maintain a stable token value. If there are too many people mining GMT, their earnings will be insufficient to cover their costs, and they will switch to mining GST instead. This will lessen competition for earning GMT, restoring profitability to GMT mining.

Getting started with STEPN

You should first download the STEPN app from Google Play or the Apple Store to your smartphone to use it. You must next establish an account and get an activation code by following the on-screen instructions. Once you have bought your NFT sneakers from the in-app STEPN shop, you can utilize the program to its fullest extent. Depending on your capabilities, choose your shoes. Open the game after buying the footwear and begin moving around or running. You’ll start making money right away.

How to join STEPN: Step-by-step guide

Here are some of the steps to follow when joining the STEPN crypto game;

1. Download the App.

Installing the app on your smartphone is the first step. You can either access the App Store or Google Play for this, depending on the type of your phone.

2. Create an Account.

You must enter your email address after starting the app so that you can receive a membership confirmation code there. Once you’ve entered your email address, click the “Send Code” button. Your email address will receive a code, which you must input in the appropriate field.

3. Obtain Activation Code.

The next step is to get an app to unlock the code. Enroll in the STEPN group on one of the authorized social networks to receive the activation code. Choose the social media platform that best suits you (Twitter, Telegram, Discord, etc.) and follow the on-screen instructions. Additionally, a friend can invite you, or you can purchase an activation ticket from another user. The main app screen will display once you obtain the activation code. The “Get activation code” button should be clicked. The app will launch, and the instruction will begin once you have input your activation code. You will see instructions for using the app on several screens.

4. Create a Crypto Wallet.

The STEPN app must then be used to build a cryptocurrency wallet. In the top-right area of the program, click the wallet icon. This will initiate the creation of a cryptocurrency wallet, which will take a few minutes. You will be given a secret phrase to write down and store somewhere safe while making the wallet. You will return to the home screen of the app after the cryptocurrency wallet has been created.

5. Start the Game.

Zeros will appear in the token column’s upper-right corner. To begin the game, you must deposit Solana (SOL) tokens into the cryptocurrency wallet you just made in an amount sufficient for you to buy an NFT that looks like a pair of sneakers. Almost any significant CEX or DEX allows the purchase of SOL.

6. Buy NFT Sneakers.

Open the app for 10 minutes in running mode minus sneakers before you purchase sneakers in STEPN. This will help you select the best kind of sneakers for your needs. You may buy NFT sneakers in the store. Wait six hours after purchasing the shoes—or 25% of the energy—has gathered before you begin the game. You are now prepared to work and move!

Playing and Moving to Earn

STEPN only offers a solo mode at this time, where users are rewarded with GST tokens for really traveling around the real world. This moves for 5 minutes before consuming 1 unit of virtual energy. Only after the acquisition of NFT trainers are any of these processes started. No tokens are awarded if the energy is at zero.

GST tokens and, subsequently, GMT are distributed in accordance with the following criteria:

• The degree and characteristics of NFT footwear—more effective footwear are more expensive. Users can only receive GST until Level 29, and if they choose, they can earn GMT at Level 30.
• The higher the sneaker comfort parameter, the more tokens are earned per minute.
• Running pace: It’s important to stay within the sneaker’s suggested speed range. If you stray too far from it, your earnings could be cut by up to 90%.

The Importance of Energy

Acquiring tokens in STEPN depends heavily on energy. Your ability to earn will end as soon as your energy runs out. Your activity won’t be rewarded till there is energy to spare. The number of tokens you can earn while running and walking depends on your energy level. You can purchase more NFT sneakers or acquire rarer ones to improve your energy level. Your inventory of NFT sneakers will naturally produce more energy the more pairs you have. Sneakers with higher levels and greater rarity will offer you more vigor.

Strengths of STEPN

The seamless integration of GameFi and sports is one of STEPN’s key competitive advantages in the current industry. As many crypto-native builders lack the connections and expertise to duplicate STEPN’s GPS technology and machine-learning anti-cheating mechanics, this might be considered a clear advantage over potential competitors. STEPN is a strong prospect for widespread acceptance because the game’s health concept and everyday usability are reasonably straightforward compared to other games and apps in the cryptocurrency market.

Weaknesses of STEPN

For the average person, entry barriers are still pretty high. The signup process is overly difficult, and new players must first learn how to set up and fund a cryptocurrency wallet and purchase an NFT item to begin playing. This is not as simple as it ought to be for a novice. NFTs range in price from 2.5 to 10 SOL, and if you want the greatest footwear, they may cost over $100. This indicates that STEPN has a “pay-to-earn” component. The return on investment (ROI) is currently in the range of a few weeks, which is not at all awful.

How much money can you make?

Sincerely, it’s challenging to estimate exactly how much money you could make using this app. That’s because the NFT sneakers you own will significantly affect your ability to earn money. Every pair of NFT sneakers has a unique set of characteristics, as was previously stated so the earnings will vary. Additionally, it would be best to consider how much you are willing to spend on these NFT sneakers. In addition, there is the wear-and-tear issue, which requires you to spend some of your income on maintaining your NFT shoes.

Finding the right balance might be challenging, but what I appreciate most about this app is that it encourages you to have an active lifestyle. And that, in my view, is a prize in and of itself. Simply consider the cryptocurrency you have acquired as a bonus. Even after using the app for a few months, I still haven’t been able to recoup the cost of the sneakers for myself. Again, how quickly you will make money will vary on how much you spend, how involved you are, etc., but in general, you shouldn’t plan on doing it quickly.

Can you use it on a desktop?

StepN only works on mobile devices. So, in order to play this game, you’ll need a mobile device. You won’t ever need to utilize it on a desktop or laptop based on the income potential it provides. The app is available for both iOS and Android users to download. Additionally, it’s really simple to operate, so getting used to it won’t be difficult. Additionally, you won’t see any intrusive pop-up advertising when using the app, which makes for a generally positive user experience, in my opinion.

Can you get support?

You can read the whitepaper on the website if you have any inquiries concerning the app or your account. Here, the majority of the necessary information that you require is included. The Help Center is another option, although I don’t think it has a lot of insightful information. You can visit their Discord or Telegram channel if you still need to speak with a representative. On these platforms, you can communicate with a representative. Overall, I’d say the app has a respectable help system in place for its users, and I appreciate that you can join their Discord and Telegram channels to interact with their support staff in real time.

Conclusion

Making money while staying healthy is a win-win situation. As a sports GameFi product, STEPN has achieved a respectable balance among game elements that are not too rich and complex to exclude non-gamers and sports elements that are not too challenging to exclude non-athletes from trying it out. The legitimate GPT app StepN will pay you for participating in the game. The tokenomics also benefit the site and its users. STEPN should maintain its high adoption rate as long as the idea stays straightforward and taking part is lucrative for the typical user.