For some time now, one of Solana’s networking programs, called STEPN, has been making a lot of noise. In this program, users receive digital currency in exchange for the steps they take during the day; But what is the history of this noisy project and how to make money from it?
Although the popularity of the P2E blockchain gaming industry as a whole has been greatly influenced by the $ 620 million hack of the Ronin network, it appears to be another subgroup of Gamefi, according to Kevin Desk.
The Stepan project, launched by the Find Satoshi Lab team with the idea of ”Move To Earn” on the Solana network, generated $ 26 million in revenue in the first quarter of 2022. Entering the money-making scene Like monetized games, Stepan is a program in which consumers are rewarded with digital currencies depending on the number of steps they take.
Shiti Mangani, one of Stepan’s top executives, said the number of downloads of the app has reached one million:
We have 100,000 active users a day since mid-March, and that number has doubled since then.
While other monetized games create an incentive for people to participate in online games, Stepan is emerging as a prototype in the field of gimpay, allowing users to watch instead of sitting and playing with their mobile phone or computer. Stay fit and healthy and make money this way. In this new model, consumers buy special shoes in the form of NFT tokens and are rewarded for every step they take.
Increasing the success of steppen also has side effects. For example, the STEPN 5K event is scheduled to take place during the AthensDAO conference, which is dedicated to Solana-based decentralized organizations. Dean Papas, project manager for the Grape social network, which helps organize the conference, said many Grape members are already using Stepan.
We are excited to show people digital currency programs and put them into practice. Stepan is one of the best examples who has managed to simplify and integrate this experience. It is enough to exercise 10 minutes a day and earn money from it.
The app rewards each user with steps in their native digital currency, the Green Satoshi Token. According to Kevin Gecko’s website, the price of the Satoshi Green Token has risen 40 percent in the last 30 days.
At Stepan, just like Axie Infinity, consumers have to buy NFT to get started and be rewarded. According to Manghani, the daily trading volume of Stepan NFTs in the Solana network is now about $ 12 million. Former CEO of fitness company Breathe Happy said the project is attractive to consumers because “they don’t have to have a 1,000-ton bike.” [۱٬۳۰۰ دلاری] “Buying.”
Read also: Play and make money; The best Chinese block games
Currently, the cheapest NFT sneakers available in the Stepan 11.5 Solana are priced at $ 1,000. Players must own at least one of the most expensive NFTs in the game to earn money by running away.
Of course, Stepan is planning a feature to rent these shoes, where users can borrow other players’ sneakers for free without having to buy expensive NFT, and share the running income with them.
“The price of Stephen sneakers is rising sharply,” said Papas, director of the Grape Group, referring to the need to launch the feature.
The leasing of digital assets in monetized games has been criticized for creating a kind of “digital slavery”. In this case, players who cannot afford the NFT needed to play these games rent them out to third party creditors. Players will play long hours in this mode, but will receive a small salary.
Of course, there are also games where participation is free.
For example, in a Genopets-based game, players receive digital currency in a way similar to their real-life activities. Since building the necessary NFT to play and earn tokens in Genooptz is free, it can be said that this project combines the model of free games and games to earn money.
Genooptz, which is currently the only trial version, has been less popular so far. Jay Chang, one of the co-founders of the platform, said the game will attract 30,000 players on Friday with new weekly challenges and will be more popular that day.
These figures are small compared to Stephen’s and show that people are more willing to pay to participate in projects willing to make money.
The publication Take a walk and pick up digital currency; What is the history of the “STEPN” token? appeared first for currency.