STEPN — Is Move-to-Earn the Future of Fitness or Another Fad?
The play-to-earn movement is changing gaming and shows the value of Web 3.0 applications. The latest project to join Web 3.0 is the move-to-earn app STEPN, a Solana-based Web3 application where owners of the nonfungible token (NFT) sneakers earn as they walk.
STEPN uses NFT sneakers with different attributes to allow users to earn Green Satoshi Token (GST), their in-game token that currently trades. GST has surged as the game has taken off. It was just listed on Coinbase which saw the price surpass $9 a token.
However, over the past 24 hours, the prices have started to collapse and its trading at $ 4.1402637 (-43.98%)
So is STEPN the future or a scam?
First off it's difficult to make an account because you need to get an access code from existing users. This created a huge amount of scarcity and allowed early adopters a first movers advantage.
Once you have an account to start playing, you need to buy an NFT shoe, which at the launch of the game were listed between 2.5 and 10 SOL. Now the NFT floor price is approx. 8,539.80 USD!
Another feature of their gaming is what I'll call time-gating. There is a cap to how much you can walk or run with the app each day, meaning there’s a limit to your earnings. They call it Energy and you get a small amount for free every day, plus some from your sneakers. High-quality sneakers give a lot of energy, but there is a general cap on how much you can have each day. You can continue to run even after your Energy has run out, but the earning meter will stop until the next day. They also added Gems which enhance Sneaker Attributes so it makes players continue to spend to upgrade their NFTs.
My takeaway is there if you got in early this is a great investment just like most things where you are on the ground floor. However, now that the floor prices for the NFTs have increased and the competition for in-game rewards is at a peak I fear that an investment now will not return an ROI
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I think Actifit stands to do better that this STEPN they just need to get that DeFi set up and create a bridge between Hive and BSC and thing might look more promising for Actifit. I wonder why they are not looking at having pools on Cubfinance and Polycub.
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Actifit has been around longer, but right now there is not at my hype around our ecosystem. It's crazy to see all these other project pump when we have had them for ages...
It can be really discouraging for us having almost everything needed here but we are just not getting the traction, I am still hopeful we will get the break out needed we should just keep developing.
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It is, but I think we will get noticed at some point. I'm trying not to think about it and just continue to write and make new connections. After all, Hive is about community. If we continue to connect and build the value will be seen.
True I believe we have a more sustainable system here than the ones with hype out there. I do hope Actifit sustains the attraction it had received lately.
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I hope so too. I have not used Actifit and feel like I got in late. I also know that some people feel the posts are spammy. What are your thoughts about daily Actifit posts?
I use Actifit only recently about a month now I haven't use it, I've been using it from Steem.
Considering Actifit as spammy in my opinion isn't the best of outlook, perhaps because it is mostly of short content which is simply reporting the days activity. Some call short content shit post and that but I think Hive should accommodate the average person that can only post pictures with few words. This can only grow the chain...
Hope am making sense 😃
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I think all posts are content but fear using these apps because of the perception of them being spammy. There are so many unwritten rules on this platform and right or wrong is still here. I think as we grow we could figure out ways to filter short content into its own system vs. longer-form blogging.
Personally I won't support any spammy content, a bit of effort into one's post does go a long way though. I want Hive to be here tomorrow so, it is vital we make it sustainable while trying to accommodate everyone, like you mentioned it will be better having the contents separated from long with everyone opting for which best suits them.
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I think project blank wen ever that’s coming out will help with short form content. We will see. I really appreciate the conservation. Interactions and meeting new content creates is important. I’m working on trying to engage more.
I have been looking forward to Project Blank, the DeFi have kept Leofinance busy and have to push PB down the priority list, it does stand a good chance of being a successful short form coontent Dapp on the ecosystem.
Myself as well, it pays to expand our friendship circle over here, learn from each other and keep the growth consistent.
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I have used Actifit but STEPN seems different. Move-To-Earn is one of the biggest trends in crypto going on right now. I hope everyone adopts this trend as a lifestyle and not a diet. Otherwise it is just another fad.
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I'm not sure the STEPN model is sustainable. It kind of reminds me of Dcity where you had to keep buying to get the rewards. The whole thing will go stagnant.
I don't think this model will really work out. When a system is profitable, people flock to it but I think it might be too crowded now. Is this the platform where you can trade in tokens for shoes? I think I heard of one lately and there is only so much they can do when they have limited shoes but an ever inflating GST supply.
Posted Using LeoFinance Beta
It's a race to keep getting GST once the hype dies down and the token prices falls people won't want to invest so it will self implode.
https://twitter.com/LeoAlpha2021/status/1520539273614659584
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