Blog NFTs STEPN NFT Game: Allowing You to Make Cash From Running

STEPN NFT Game: Allowing You to Make Cash From Running

date April 15, 2022 time 4 min read 1045 views

The STEPN NFT game attempts to combine GameFi and SocialFi, and it’s the first move-to-earn mobile NFT game powered by Solana in which users can earn tokens by walking, jogging, or running outdoors with an NFT Sneaker. Users must maintain their health, participate in communities, obtain NFTs in the form of Sneakers, and earn all at the same time. At the Solana Ignition Hackathon 2021, the project finished fourth out of over 500 projects.

The publisher aims to inspire millions of people to live better lifestyles by bringing them into the Web 3.0 era while positively contributing to carbon neutrality. Users will earn GST tokens by walking, jogging, or running outside, which may be utilized in-game or cashed out to profit.

STEPN NFT Game Features

Move-to-earn: Even the most apathetic people are attracted to the combination of health promotion and profit. Using each shoe style for outside activities will earn you a fixed quantity of rewards, similar to the mechanisms of Play-to-Earn Crypto games on the market.

STEPN attempts to combine GameFi and SocialFi.
STEPN attempts to combine GameFi and SocialFi. (Source: Stepn.com)

Swap feature: STEPN‘s Swap allows you to instantly convert your GST to other coins/tokens on the market. Currently, there are GST, GMT, and USDC available for exchange.

Solana Wallet integration: You can create a new wallet or restore a Solana wallet right in the product application from a third party.

Marketplace: Sneakers, Badges, and Gems can be bought, sold, or rented on the market. 

The team will earn a 2% Marketplace Trading Charge as part of the distribution structure, while the StepN ecosystem will receive at least 5% of the trading fee. Then, certain gas fees collected in the ecosystem will be transferred to a treasury pool controlled by GMT stakers.

The renting method will assist new users who do not have enough tokens to begin coming in, earning, paying for the item rented, and having resources to purchase a sneaker. There is a structure in place that governs how renting works in order to compensate tenants for keeping promises and landlords for renting out their assets. 

A credit rating system is in the pipeline and will be available soon.

Getting Started with STEPN

Using the STEPN NFT game app is as simple as using any other app on your mobile device. It’s a straightforward five-step procedure, as set out below:

  • Download the STEPN app
  • Sign-Up with your email account
  • Create a new wallet (Solana based)
  • Transfer SOL to your wallet
  • Purchase Sneakers from the Marketplace
Using the STEPN app is as simple as using any other app on your mobile device.
Using the STEPN app is as simple as using any other app on your mobile device. (Source: STEPN app)

If you already have SOL in your wallet, getting some sneakers should be simple. If not, you can use our Quick Exchange function to get some on Liquid.

You may also import it and spend it in-game. However, we recommend creating a new wallet within STEPN and transferring your SOL to it.

You can only spend SOL on the market, but you will gain GST while playing the game. Currently, an NFT starts at 10 SOL.

On its marketplace, NFT Sneakers can be purchased with SOL tokens. Once bought and unlocked, the app will detect your movements and reward GST based on the distance traveled and running pace of the selected Sneaker.

There is also a speed meter that you must maintain to continue earning. This is one of the most challenging components of the game because you must be in peak condition on every run.

The more you walk, the more GST tokens your Sneaker earns and the more energy it loses. The energy will be restored at a rate of 25% every 6 hours (AEDT 00:00, 06:00, 12:00, 18:00). It can be used again after the first recharge.

Tokenomics

Green satoshi token (GST) is a utility and reward token that can be obtained in Solo or Background Mode. 

GST has a limitless supply model and is minted when users activate in Solo and Background Mode. Shoe-minting, mending, leveling up sneakers, gem upgrading, and socket unlocking all burn GST.

The GMT token, generated at the Token Generation Event, governs the platform. It has a total supply of 6,000,000,000. It’s burned by sneaker customization, involvement in governance, sneaker leveling, shoe minting, and so on.

As shown with Bitcoin Halves, StepN was one of the first games to adopt token halving. GMT will be cut in half every three years to ensure the app’s long-term viability. This will progress from 15% to 7.5 percent and on and on. The GMT is calculated from the entire supply earned through move-and-earn/governance.

Final Thoughts on the STEPN NFT Game

According to TheBlockCrypto, move-to-earn is a trend in the blockchain world. In October, another move-to-earn game, Genopets, raised $8.5 million in its first round of funding.

The game’s activities, such as marathons, running and jogging, keep players engaged and motivated, which is something most modern games, much alone NFT games, have yet to manage. Combining NFT with healthy living through the move-to-earn concept has the potential to be game-changing. 

Though the concept is new, we can believe it has the potential for widespread acceptance, particularly with the rent now, pay later function. Overall, we should keep a watch on its future advancements. I recommend that you test the app before making an investment choice. Keep in mind that due diligence is the key to success.

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