STEPN Explained Beginners Guide - Move 2 Earn $30,000 Daily | Solana Nft Game | GST-GMT-WEB3🚀🔥
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#Stepn #GMT #GST
STEPN is a Move 2 Earn game, building on Solana and just recently completed an IEO on Binance Chain. It launched open beta December 20, and the basics are exercising from 10 minutes a day and you earn $GST. There's alot to consider, and I track through some of the important factors for new beginners. Don't forget I do live Jogging with Barndog sessions 5 days a week if you have any questions, pop into the STEPN or Grape Protocol discord and come and check us out, happy to help!
For starters, Stepn is one of the most popular Web3 applications for promoting the Move-to-Earn concept. The project centers on movement, which is a typical everyday activity for most people. So far, it appears to be working well, rewarding users for their physical activities with in-game tokens or native currencies of Stepn, including NFTs like Gems.
Since its public beta launch in December, the Stepn ecosystem has grown dramatically, just as its Investors' confidence in the governance token, GMT. Interestingly, the token has risen significantly in recent days and has gained a massive 31,000% in profits since its token sale was conducted on Binance Launchpad on March 2. Also, investors are maintaining a positive stance as the token has shown potential for more growth.
If you want to join Stepn’s fitness game, you'll need to buy or rent an NFT sneaker using Solana's native token, SOL. You can choose from the four different types available: walker, jogger, runner, or trainer, depending on your fitness level. They also have four attributes (efficiency, luck, comfort, and resilience) and five qualities (common, uncommon, rare, epic, and legendary). The price of each sneaker varies depending on its type, rarity, or level.
These NFT sneakers are available on Stepn’s in-app marketplace, where they can be bought, sold, and swapped. The rewards you receive will depend on the type of sneaker you choose.
Also, note that you do not necessarily need to own a Sneaker NFT to engage in the move-to-earn economy. You may rent a Sneaker NFT and split profits with the owner.
However, after getting a sneaker, the next thing is to move outdoors and exercise for rewards. The app employs GPS technology to keep track of users' activities and prevent them from cheating.
At the initial levels, you can only earn the unlimited supply Green Satoshi Token (GST). But if you own your sneakers, that is, you are not renting them; you can start earning the limited supply Green Metaverse Token (GMT) governance token as you level up your sneakers by moving.
Nonetheless, the tokenomics approach of STEPN is similar to that of Axie Infinity, a popular play-to-earn game. GMT is the equivalent to AXS in Axie Infinity; it has a limited supply and can be used to level up and mint new pairs of sneakers. On the other hand, GST is similar to Axie's SLP in that it has an infinite supply, may be used to repair sneakers, and is used when you level up or mint new ones.
DISCLAIMER: This is not financial advice! This is an entertainment and opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing. DYOR