Navigating the new world of movement based earning with cryptocurrency is a whole new frontier. How does it all work?
The new move to earn technologies utilizing crypto assets on the blockchain is giving rise to all kinds of new applications. Step’n stands out by combining the concept of a move-to-earn app with the characteristics of the blockchain. Thanks to this mobile game, users can earn rewards by moving around. On the condition that they invest…
A full wallet is good. With a healthy body, it’s even better. Walking or running to make money or earn rewards is not necessarily innovative, yet by adding blockchain and NFTs to the mix, the concept seems to be taking a new turn. With Step’n, a free mobile app available through various app stores, every daily outing can potentially earn you money, whether it’s through walking or running.
The Step’n project proposes to reward users with two cryptocurrency tokens linked to the project: the GST (Green Satoshi Token) and the GMT (Stepn, a governance token). These two tokens have several utility functions in the application, such as creating a new sneaker, unlocking certain gems to improve your shoe or simply for resale via traditional cryptocurrency channels. The GMT governance token allows users to vote on the future course to follow for the company, with two primary choices: buying carbon offsets (to continue producing tokens) or receiving dividends based on Step’n results.
A Form Of Work?
So how does it all work? The whole principle of Step’n is based on shoes that take the form of NFTs, all with specific characteristics, a rarity system and even levels. Depending on the nature of their movements, users have to choose between four types of shoe: the Walker (between 1 and 6 km/h), the Jogger (between 4 and 10 km/h), the Runner (between 8 and 20 km/h) and the Trainer (between 1 and 20 km/h). But, depending on the shoes and their “energy” levels, users will not be able to exceed a certain time limit of use.
The shoes all have different characteristics in four attributes: efficiency, luck, comfort and resilience. Efficiency will allow you to make the most of your time to enhance GST token earning, luck allows you to acquire bonuses at the end of a walk or run, comfort enhances the earning of GMT tokens, and resilience reduces the cost of repairing your shoes. That’s right, because even the wear and tear of your shoes is a factor that you’ll have to take into account.
Depending on your means and your goals, the cheapest shoes are currently priced at 8.3 Solana (or at the current price, about $830). The initial investment is therefore substantial, although, for the moment, the phenomenon is benefiting from a moment in the spotlight. Nevertheless, this kind of initiative seems to have a potential that is far from having reached its limit.
After all, partnerships with sports events or brands using the app’s cryptocurrency could clearly be envisaged with Step’n’s Twitter account suggesting this week that one would be announced soon. In general, offering a financial reward for adopting a healthier lifestyle by walking or running could well become more than a trend. For some, it has already become a form of work.
Via this site.