There has never been a better time to combine being healthy with making money
Earning crypto by exercising and staying healthy is the new concept behind move-to-earn and STEPN. STEPN is an app that combines blockchain technology with GPS tracking to reward its community with real money for getting out in the real world and getting fit.
- STEP It’s free to download and easy to get started. However, the NFT shoes in the game don’t come cheap, and new users should do some extensive research to decide which ones will work best for them.
- Winner records it’s simple to move to win on STEPN and there is already a healthy secondary market where users trade shoes with a minimum price of 12.29 SUN.
- Move-to-earn is an idea that came to the fore in 2022. But many companies have been pioneering the technology for some time. STEPN and Genopets started in August 2021.
STEPN is the flagship platform of the Move-to-Earn revolution, built on the Solana and Binance Smart Chain blockchains. The game encourages people to get up from their computers and get out into the real world. By exercising and being healthy, people can earn chips and real money.
How to use STEPN
There are some basic steps that everyone needs to follow to set up STEPN.
- Download the STEPN app – is available on the Apple App Store and Google Play. It’s also free to download and you don’t even need to have the Sneaker NFTs to start earning (more on that later).
- Register with your email address – this part can be a bit tricky. You need to join the STEPN Discord or Telegram server to get an eight number code that other users generate and post to the group. But it needs to be quick: the codes can only be used once, and other people moving through the registration process will get there first if you’re late.
- Buy yourself a pair of sneakers and start moving – now you need to spend some money. You will need to transfer SOL or BNB from your personal wallet to your STEPN spending account. The cheapest pair of shoes currently on the STEPN native market is available for 12.29 SOL ($872.47 at the time of writing). This isn’t cheap, but with the way crypto prices move, it might be worth waiting a few days to buy some SOL and get in the game at a lower price.
STEPN will soon offer a rental system that allows new users to get started without spending more than $850. Renters will be free, but the owner of the shoes will get 70% of the rewards earned, while the renter will get 30%.
How to earn tokens in STEPN
Earning money is simple with STEPN: get moving in the real world, log your workout in the app, and earn tokens for doing it. After the activity, these tokens will drop into your wallet and you can exchange them for real-world cash. There are different game modes within the platform, each of which offers different challenges:
- solo mode – earn tokens for moving. Simple.
- Marathon mode – participate in weekly and monthly contests. You must register for each race 24 hours before it starts.
- background mode – turn off the app and let the money accumulate. As long as you have a step counting device to record your steps, you can upload this information to STEPN and you will be rewarded with tokens.
chips and slippers
Users are rewarded with Green Satoshi Tokens (GST) for completing exercise challenges in STEPN. To provide initial liquidity, 60 million were minted. But to maintain a constant price level, GST is burned when users do the following:
- sneaker coinage
- shoe repair
- Level up sneakers
- gem upgrades
- unlock socket
Green Metaverse Tokens (GMT) are the governance tokens of STEPN. GMT is available to users once their shoes reach level 30 and they have an energy level of at least three.
In the STEPN ecosystem, there is a limited time mechanic built into the game that prevents players from earning more tokens once their energy drops to zero. Users can continue to earn GST until they run out of energy, but GMT rewards have an upper limit.
Energy is restored at a rate of 25% every six hours and users can increase their maximum amount as they have more shoes. This is the calculation:
Having better shoes allows players to earn more money, through a shoe efficiency system and increased energy allocation. A user’s movement speed also increases their ability to win. So the faster you go, the more money you make, which makes a lot of sense with a fitness app to move and earn.
More advanced gem types and higher level NFT badges also increase a user’s earning potential. With STEPN, the more time and effort you put into it, the more you get out of it.
The move to win industry and other players in the game
Move-to-earn has grown in popularity since early 2022. It is a further evolution in blockchain technology and the metaverse concept as it brings the real world and the digital world closer together.
As the Web3 community continues to innovate, we will see more scenarios where real world actions have an effect on virtual spaces and vice versa.
Although Move-to-Earn is not a new concept, platforms that offer rewards to users for staying active have only recently come to the fore. DappRadar’s article listing the top five moving games to win is a good place to start if you want to learn more.
But here is a brief breakdown with information on some of the names you should be aware of if you want to start making real money exercising:
- genomescotes – NFT’s battlefield and collectible game with a move-to-win mechanic that underlies everything. The more you exercise, the more powerful your avatar becomes. The more powerful the avatar becomes, the more battles you win.
- steps application – this app on the Avalanche blockchain allows players to place bets and compete with friends and strangers in mini exercise competitions for the prize. FITFI is the government token and KCAL tokens are used in the game. Read a longer article about the platform here.
- the dusty – this game is part of the OliveX blockchain health and fitness ecosystem. Take part in real-world exercise and watch your in-game character become stronger and fitter.