STEPN M2E GMT/GST Sustainability | Exercise For Crypto App Demographics 2022

Move-To-Earn crypto platforms are on the rise, but are they sustainable?

Who's playing these games, and what are the benefits?

Find out in this new guide from Chiliz News, that takes a deep dive into the popular STEPN M2E application, including some details straight from the co-founder of the platform, Jerry Huang.

STEPN made its debut at a Solana hackathon only five months ago and gathered its first small group of beta-testers. According to the new guide from Chiliz News, the exercise platform’s Green Metaverse Token (GMT) is now valued at approximately $860 million.

Visit https://chiliznews.com/stepn-co-founder-jerry-huang-discusses-gamefi-new-user-numbers-app-demographics-sustainability to learn more about STEPN, and where the platform is headed in the future.

While many blockchain-based applications struggle to be noticed, STEPN suffered from a different issue, becoming almost too widely known, overnight. Though the application had barely been advertised, the Chiliz News guide explains that with tens of thousands of new users signing up each day, the platform had to limit the registrations until they could expand the project.

Several months after launch, the STEPN app became self-sustaining, with up to $100 million per month in regular income. It has been compared to popular GameFi applications like Axie Infinity, one of the first blockchain-based games that instantly became a massive hit.

Unlike traditional blockchain-based games, STEPN is not a video game in the usual sense. It combines elements of gaming and finance with physical fitness and helps motivate you to get regular healthy exercise. To play, you activate NFT sneakers, with each sneaker having a distinct set of attributes that affect their gameplay, and either walk, jog, or run outdoors, while logging your activity.

To provide financial stability to the project, the guide explains how STEPN uses a dual-token model which includes a governance coin and a utility coin. Players are encouraged to spend their utility coins for items such as in-game upgrades or minting new NFT sneakers with additional sets of attributes.

The guide details how the platform is working on a new stabilization method, which keeps the NFT sneakers affordable for new users, while still providing a financial incentive for veteran players. As well as minting new and upgraded sneakers, you can also rent, trade, and sell to other players on the market.

Jerry Huang, co-founder of STEPN said, “Yes, users can earn money with STEPN in the beginning, but they will also become accustomed to being active over time, so they will walk or run independently of cash rewards.”

Move-to-earn gaming is a new and exciting development that shows a lot of promise, especially when it comes to providing motivation for getting your daily exercise. Whether it's going to be sustainable for the long-term is another question though - find out by reading the complete guide.

Visit https://chiliznews.com where you can get all the latest updates on crypto, move-to-earn platforms, and sports fan tokens.

Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.

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Created on Jun 1st 2022 02:00. Viewed 150 times.

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