What if I tell you that there’s an app that provides you with all functionality to run every day consistently and earn some extra money? Yeah, you heard me right, run and earn money, and I’m not talking about several bucks, your income can increase up to $100 a day. How is it possible? I’m here to tell you more about this new and cool Web 3.0 app that will only grow and get a bunch of popularity in the future!
What is Stepn?
As we already know, Stepn is a new app that allows you to not only run but also earn money by doing so, this concept is called “Move 2 Earn” and as you might already notice it’s very simple, you’re earning money for your moving. The app uses blockchain technology to track your progress and rewards you for every mile you run. Stepn is completely free to use and available on both iOS and Android devices.
Except for Stepn, there is a bunch of other Web 3.0 apps that allow you to earn money by not only moving, and also by playing and it’s called “Play 2 Earn”, and again the concept is very simple, everything you need to do is play and complete several tasks per day, so you’ll earn in-game Crypto. In Stepn, it’s GST, and the price of GST can decrease or increase, it depends on market interests and the number of users (While I’m writing this article, the price is nearly $5 per token).
However, to start earning these in-game tokens which you can trade for dollars you have to buy a sneaker for a specific price starting from around $1K, this sneaker is a unique NFT that allows you to run and earn through this app
How does it work?
So, how does Stepn work? First of all, you need to have a Stepn account, and to create it you have to buy a sneaker. As I said before the price of the sneaker starts from around $1000, but don’t worry it can be resold in the future. After you bought your Stepn Sneaker, you need to put it on and start running. Stepn tracks your progress and for every kilometer, you run you’ll earn a specific number of GST tokens. The number of tokens depends on the type and efficiency (we’ll talk about it a little bit later) of the sneaker you have.
When you just bought one sneaker you’ll have 2 energy and each energy equals 5 mins of running, so you can’t run for the whole day and earn millions from it, everything that you need is a little jog in the morning or whenever you want and as I said before you need to do it consistently to earn GST every day. You’re earning a specific number of GST per spent energy, for me, It’s around 5.5GST per energy
By the way, if you’ve one sneaker you’ll have 2 energy, however, if you’ll 2 sneakers you won’t have 4 energy. There’s a progressive structure so for 4 energy you’ll have to buy at least 3 sneakers. Actually, you can just create separate accounts and buy 1 sneaker on each of them and that will work! But it’s not so clear and in some situations better have 3 sneakers on one account.
Characteristics And Types
Each sneaker has 4 main characteristics or attributes, call it as you want, that make farming GST a little bit easier, you can level up your sneaker and after it, you’ll 4 points that you can spend on a specific characteristic, such as Efficiency, Luck, Comfort, Resilience. We’ll take a closer look at each of them:
Efficiency. Efficiency is one of the most important attributes right now that make farming GST much more effective and easier. The more efficient, the more GST per spent energy, so if you’ll spend your points only on Efficiency, you’ll have much more GST in a long term. However, it’s better to diversify your points and not only spend them on efficiency
Luck. Luck is a very important attribute when you have at least 4 energy (20 mins of running), because the more your luck, the more chance of dropping the drop box which you can open and earn gems which you can then sell on the market. As I said earlier, you’ll need to have at least 4 energy, in other words, at least 3 sneakers on one account
Comfort. Actually, Stepn is a very new app, so there’s a bunch of things that still are not completed. The comfort attribute is one of them, it will work only when the second in-game token called GMT will implement in-game. As developers said, it will be in 2 months. But for now, there’s not so much information on what Comfort attribute will be
Resilience. After each run, you’ll have to spend a few GSTs on repairing your sneaker, depending on your Resilience score. As a result, the higher your resilience level, the less you will have to spend on repairs after each run. So in other words, as you can see it’s also an important attribute.
There’re also several types of sneakers:
Walker. Walkers are for the ones who want to walk and don’t wanna run. You’ll have to walk at a specific speed, it’s from 1km/h — to 6km/h. Not so fast, as you can see. So if you wanna just walk it’s a great choice for you!
Jogger. If you prefer jogging, then Joggers are for you. The speed for them is from 4km/h — to 10km/h. Personally, I have joggers and I really love them!
Runners. As you could already understand you’ll need to run faster with Runners, exactly from 8km/h — to 20km/h, so again, if you prefer fast running then Runners are for you!
Isn’t it a Financial Pyramid?
The simple answer is — Almost. Everything isn’t so clear. The main principle of the Financial Pyramid is to take the money of new users and give them to old users. So if there are no new users the pyramid will shut down and all money that you invested will be lost in the pockets of the creators of this Financial Pyramid.
With Stepn, first of all, GST that you’re earning from each run are from the users that spent them on Repairing, Leveling Up, Minting (It’s like crossing two sneakers and getting the third one for less price). So everything depends on everyone and not only on new users. Secondly, when you buy a sneaker, you’re buying it as an NFT, and you’re buying it from the other users like me or someone else and not from the developers, so developers are only charging a small commission on each transaction
What are the risks?
As I already said Stepn is a new app and it will only grow from now, more and more people will start using it which means that the price for GST will only increase because the demand is growing while the supply stays the same. So if you’re planning to invest in Stepn I would do it as soon as possible to get the most out of it.
Of course, Stepn is a new app and it has some risks like any other investment but in my opinion, they are minimal. The only thing I see as a potential problem is that Stepn could get banned because it’s too good to be true and allows you to make money without doing anything. However, I don’t think that will happen anytime soon because Stepn uses blockchain technology which makes it almost impossible to ban.
To sum up, everything I said above Stepn is a great app with a lot of potential and several ways to earn over $100 per day, and I’m pretty sure that in the future we’ll see more and more people using it. So if you’re thinking about investing in Stepn I would do it as soon as possible.
You can leave a comment below if you disagree or wanna know more about it. Also, don’t forget to follow me on Twitter if you wanna see more articles like this one. By the way, I’ve my own NFT Collection so don’t forget to check it out too!
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