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STEPN NFT: The new move-to-earn concept

With all its glamour, the fitness industry still fumbles to motivate the general public. The increasing majority of work-from-home employees find it difficult to spend time building a healthier lifestyle. STEPN NFT steps in to solve this problem. Incentivizing fitness changed the abstract concept of healthy into a token that rewards the healthier choice. This has certainly revolutionized the concept of fitness as we know it, to bring us fitness 3.0.

By gamification of fitness, the revolutionary concept of fitness 3.0 opens a path for our digitally tethered generation can enjoy and be motivated to stay fit. Fitness apps and devices already track heart rates and daily movement. This data can be converted to enable Move-to-Earn apps that can present gaming incentives.

What is the Move-to-Earn Concept? 

Move-to-Earn, a reimagination of Play-to-Earn, is the foreseeable future for fitness and fit tech. Move-to-Earn is a way to reward cryptocurrency for a physical movement like running, walking, or jogging. The games or apps that use Move to Earn generally use technology to track the users while the activity is in motion and then earn tokens based on the users’ fitness routine. By incentivizing movement like running or walking, STEPN aims to do its part in building a healthier generation. 

What is STEPN NFT?

STEPN NFT is a GPS-based Web 3 lifestyle app that revolves around the Move-to-Earn concept. The platform tracks movement and steps and provides crypto incentives upon running or walking in the real world. This cross-collaboration of the digital and the actual world creates a good incentive for healthy habits. By attracting fitness-oriented groups to the crypto, it presents Web 3 with a space to promote health.

Contribution of STEPN NFT to Climate Change

They work with a vision of a climate-positive Web 3 ecosystem that promotes a healthy lifestyle and a subsequent change in present-day climatic issues. They hope to march along with their users towards a future of carbon neutrality. STEPN’s CoFounder, Yawn Rong, believes in harnessing the power of blockchain, Game-Fi, and Social-Fi to combat global warming and probe the majority into a healthier lifestyle. It also creates awareness about carbon computation and the solution to battle it by incentivizing people to opt for walking to reduce their carbon footprint. 

How does it work? 

STEPN NFT revolves around its native token, Green Satoshi Tokens (GST), and the governance token GMT. The pre-requirements to start earning GST is to mint a pair of virtual sneakers in the apps. The sneakers can be resold later or bought from marketplaces with SOL. Each sneaker has a stats and rarity level that can determine the run length without recharging. Your choice of sneakers in the app can also help you avail of a speed bonus to earn more GST while running or walking. 

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First-time users can use the app for free, but the earning meter does not start running without the virtual sneakers. STEPN NFT also makes it easier for the non-Native crypto community by encouraging rentals for crypto sneakers. The users who rent out are assigned as mentors for the rentees and earn incentives for helping out those that joined recently. This gives new users ample time and resources to understand the possibilities and work of this NFT.

One of the downsides is its cap limit for earning. Each day has a limit for “Energy” spent, which translates to 100 minutes of running; hence, the earning meter stops until the next day. Some free Energy is acquired daily, and your virtual sneakers also provide some additional Energy. The app also has a speed meter, meaning consistency is key to earning GST tokens. 

Conclusion

STEPN NFT is taking steps to move towards better overall fitness for the common public and to combat climate change by promoting a carbon-neutral lifestyle. Incentivizing people to move is a great way to achieve this goal. This NFT has passed 1 billion in market cap and over 1,000% in user growth within a week since the coin’s launch. Move-to-Earn is soon shaping to be the future of fitness, and STEPN has a large part in this. 

Related article: Where will NFTs pop up next?

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Rahul A R

Rahul A R is a technologist and full stack developer who specializes in Blockchain technologies and Cryptocurrencies. Though he’... Read more

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