A step-by-step guide to one of the most popular move-to-earn blockchain games, STEPN, which rewards you for staying physically active. Read more!
What Is STEPN?
Through the STEPN ecosystem, users are incentivized to improve or maintain their fitness by walking, jogging, or running. It does not require any extra fitness hardware, as everything is tracked digitally. However, participants will need to obtain tokenized sneakers on the blockchain, as NFT sneakers will determine how much you can earn by moving about.
The STEPN ecosystem consists of an application with a built-in marketplace and wallet. Users can buy and store their NFT sneakers in this ecosystem or lease and sell them through the marketplace. Users are always in control of their assets and can perform whichever action they deem necessary.
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The GST Token
Users earn GST as part of the move-to-earn mechanics in this ecosystem or by renting NFT sneakers to other users.
The GMT Token
How to Play STEPN
The current version of STEPN is very accessible, assuming users can get their hands on an invite code. Without that code, it is impossible to sign up for an account.
Step 1: Install the Application
Step 2: Create an Account
Signing up for an account is mandatory for those looking to use STEPN. However, users will need an invite code, as it is a mandatory aspect. STEN has seen overwhelming demand for access and the team uses this invite-only system to ensure the project does not grow too fast or become unsustainable.
Users with an invite code will need to enter their email address, to which the system will send a verification code.
Step 3: Create a STEPN Wallet
Once you have signed up for an account and logged in, you will see the homepage of the STEPN ecosystem. One of the first things you need to do is create a wallet to store funds and your NFTs. Users can create a wallet on Solana or the BNB Chain, depending on preference.
To create the new wallet, you will need to create a password and note down the seed phrase. As a security measure, you will need to confirm that phrase, so write it down or take a screenshot of it and keep the information safe.
Step 4: Fund Your Wallet
Step 5: Buy Your NFT Sneaker
It is impossible to earn money with STEPN without owning an NFT sneaker. These sneakers come in different varieties depending on your preferred activity:
- Walker (1-6 km/ hr)
- Jogger (4-10 km/ hr)
- Runner (8-20 km/ hr)
- Trainer (1-20 km/ hr)
The NFT sneakers are available on the in-game marketplace, with items listed in BNB and SOL prices. Additionally, you can opt to buy a randomized shoebox containing one random sneaker.
Prices for NFT sneakers will vary but expect to pay roughly $300 for entry-level options.
If you prefer to rent sneakers from other players, that is a free way of playing the game. However, you will share the profits with the original NFT owner, so keep that in mind.
Every sneaker has a set of details users can explore, including:
Step 6: Go out and Earn
The STEPN team has made strides in ensuring users cannot trick the system. Those who engage in stationary walking, treadmill running, or moonwalking, will not earn tokens. The STEPN app uses an active GPS connection to ensure you are moving around.
If the GPS signal is strong, you will earn guaranteed GST tokens. A low or no signal means low or no earnings. Additionally, users need to maintain the optimal speed for their sneakers:
Walker: 1-6 km/hr
Jogger: 4-10 km/hr
Runner: 8-20 km/hr
Trainer: 1-20 km/hr
The earnings can be classified as follows (assuming a strong GPS signal):
Walker: 4 GST/1 energy spent
Jogger: 5 GST/1 energy spent
Runner: 6 GST/1 energy spent
Trainer: 4-6.25 GST/1 energy spent
Step 7: Burn GST/GMT
While STEPN users can earn GMT and GST, they are also used to enhance one's shoes in the game and improve efficiency, earnings, comfort, and resilience.
Additionally, users can mint new sneakers to sell or keep, or swap GST/GMT to USDC, the second-biggest stablecoin in the cryptocurrency industry.
Step 8: Don’t Try to Cheat!
Through cutting-edge machine learning, the STEPN app will cross-reference data with an internal standard. Any discrepancies will lead to users getting flagged, which can lead to suspension of rewards and durability losses, with more [severe] penalties to follow. All anomalies will be identified and verified internally before any punishment is meted out.
The STEPN move-to-earn initiative is a worthwhile venture highlighting the potential of blockchain assets and NFTs. Moreover, it rewards those who want to live a healthy lifestyle, an aspect no one should overlook. Going outside is good for people of all ages, and STEPN caters to any kind of activity, including walking and jogging.
Although one needs to acquire a sneaker NFT to start earning, the investment cost is still fairly moderate. Additionally, the game will soon feature renting features to make it free-to-play to users who don't mind sharing their earnings with the NFT owner.