When talking about blockchain gamification, the play-to-earn (P2E) model usually comes right on top of the mind. However, recently another model has taken the industry by storm. The new model is aptly described as “move-to-earn”, and in the forefront of this trend is a Solana-based project named Stepn.
As with play-to-earn, the idea of move-to-earn is quite similar: users take part in routine activities like walking, jogging, or running in order to earn some cryptocurrency. Also comparable is the requirement to start earning: Stepn requires users to buy a starter NFT in the form of a virtual sneaker, much like how Axie Infinity requires players to buy starter Axies.
After purchasing their first NFT sneaker via Stepn’s in-app marketplace, users can start earning by either walking, jogging, or running. These activities must be done outside since the app tracks users’ movements using GPS, and Stepn has implemented anti-cheating protocols to make sure everyone is earning fair and square while actually burning calories.
According to CoinDesk, the starting price for a virtual sneaker in Stepn is currently rated at around 12 SOL. More expensive virtual sneakers are of course available, and with better rarity and quality comes more benefits, including a higher earning rate. Earnings in Stepn come in the form of Green Satoshi Token (GST), but users may also obtain a separate governance token (GMT) after reaching certain sneaker level.
Stepn’s project roadmap shows that it’s planning to add a rental system in around September. This is of course akin to the scholarship system in P2E games, where users can borrow NFT assets from other users for free in order to get started, with earnings being split among them. For crypto whales who have a lot of SOL in their wallet, it’s easy to imagine having a crew of avid runners earning them more cryptocurrency using their collection of virtual sneakers.
In just a few months after launching, Stepn has reportedly drawn more than 300,000 daily active users. The project is currently still in beta phase, and users have to be sent an invite to be able to join. There are currently around 3,000 invites being issued daily via Stepn’s Telegram group, Discord, and other online communities.
Via: NFT Plazas.
