STEPN, an Australian-based blockchain fitness app provider, provides blockchain technology-based fitness apps. It is possible for users to use this service for a limited period of time, by purchasing NFTs for the limited period. The user can get GST tokens by carrying out specific exercises and earning them in return for the GST tokens offered by the platform.
The STEPN program is a Web3 based application and also a “move-to-earn” game based on Solana technology. If you are walking, jogging, or running outside you can earn native tokens of GST by using the NFT application. By earning native tokens of GST you will be able to obtain new Sneakers and level up. Since launching at the end of December, the game has experienced steady growth in popularity. It features an in-app Marketplace where members can lease or sell Sneakers, and GST earnings are deposited in their Wallets, which have a swap feature built into them.
How do I get STEPN’s NFT Sneakers?
In order to get sneaker NFTs, users must first purchase them. According to NFT marketplace Magic Eden, STEPN’s NFT sneakers cost around 4.5 SOL. The app also sells the NFT sneakers from STEPN.Also the NFT sneakers can be rented. However, GST token earnings are reduced with rented sneaker NFTs. Renters get 30% of profits, while owners keep 70%.As well as minting new sneakers, STEPN also repairs existing sneakers. NFTs cost 200 GST, while sneaker repairs are about 20% of GST earnings.
How To Play a STEPN ?
STEPN’s new move-to-earn app requires you to buy a sneaker NFT through its in-app marketplace, then wait 24 hours for your energy to replenish. With a sneaker NFT, energy is the number of minutes exercised. A walker, a runner, and a jogger are available within STEPN. For example, one walker sneaker gets 10 minutes of energy. After gaining energy and a sneaker, users earn GST tokens by walking, running or jogging. With GST tokens earned via this game in-app swap function, GST tokens can be swapped for SOL or the USDC stablecoin.Fresh players can earn $20+ per day walking or running.
In this we have Solo, Marathon, and Background Mode are three game modes for earning money with the application.
Solo: By moving, players can earn tokens in solo mode. There are two factors that affect their income: how active they are and the specifics of their Sneakers.
Marathon : Users need to register separately for weekly and monthly Marathons 24 hours ahead of their start time.
Background : In Background Mode, steps are calculated from mobile device health data. You can earn GST and repair costs even if you don’t use the app for sneakers. In Background Mode (walking, jogging, or running), sneakers endurance will not decrease.
We can see from the below graph how many unique wallets have transacted with GST per day since January 1st. The total number of wallets from January 1, 2022 to February 27, 2022 was 52.3K. On February 25, 2022, there was a maximum of 3.13K wallets, and the minimum was 40 wallets on January 3, 2022.From January 1, 2022 to February 26, 2022, total wallets increased by more than 50 times.Wallets show an increasing trend.
Below is a graph of daily transactions. The maximum number of transactions was 8.59K in February 23, 2022, and the minimum number of transactions was 206 in January 3, 2022. The transactions were increased by 15 times more from Jan 1,2022 to Feb 26,2022. The number of transactions is increasing.
Here is a graph showing the total amount of GST transacted by unique wallets since January 1st. A maximum transacted GST of 3.52M was observed on February 23, 2022, and a minimum GST of 2.73K was observed on January 7, 2022. In terms of total transacted GST, the trend is upward. For February 24, 2022 and February 13, 2022, the total transacted GST are lower than normal, and for February 23, 2022 and February 20, 2022, they are higher than normal.