Stepn Guide Philippines: ‘Move-to-Earn’ NFT App Pays You to Walk
As play-to-earn games have risen in popularity, other “x-to-earn” opportunities also started to emerge.
App developer FindSatoshi Lab devised Stepn, a “move-to-earn” application that allows users to earn money by walking, jogging, or running for a narrowly specified time period. This article is a quick Stepn Guide for beginners and everyone who wants to try other earning opportunities.
What is Stepn?
Stepn, an app built in the Solana ecosystem, combines the technology and concept of augmented reality (AR) game and play-to-earn gaming. The game tracks users in real life when they exercise and accrues points to them in the form of crypto.
Stepn Guide: Introduction
To start, players must first buy a non-fungible token (NFT) sneaker; users can boost the amount of crypto earned per session by upgrading their sneakers. According to the developers, the sneakers are tradable on secondary markets, and are already commanding high prices, ranging from $400 to $100,000.
What are the two cryptocurrencies in Stepn?
Players earn two kinds of tokens in the game, first is the utility token called Green Satoshi Token or GST, which can be credited to a wallet created in-game or imported externally and the GMT which relates to governance.
GST is a cryptocurrency that is just like SLP that has unlimited supply. On the other hand, GMT has a hard cap of 6 billion. GMT is given to players who upgrade their sneakers above level 30.
To purchase sneakers, players will also need SOL, the native token of the Solana network (this can alternatively be done with Binance Coin but the NFT sneakers are still on Solana).
How to play Stepn?
Once players have purchased their sneaker, they have the choice to upgrade it in one or more of the five characteristics:
- Resilience, this slows down wear and tear (and diminishing returns);
- Luck, increases the chance of random prizes during a session;
- Comfort, it increases the intake of GMT; and
- Efficiency, which increases the amount of GST made per “energy” spent.
StepN NFT: What is Energy?
Like Axie Infinity, Stepn also has an Energy feature. Every session with StepN costs energy. One energy is a five minutes session.
Players start with two energy units which replenish every 24 hours. This means newbies can only spend ten minutes per day to play and earn GST.
The developers remind that the app makes sure you’re moving at the required speed relative to your sneaker type.
The amount of energy a player will have is relative to the number of sneakers they possess. Meaning to obtain more energy, a player needs to buy more sneakers.
How to Buy GMT Token
Anyone can actually also purchase Stepn Coin or GMT on exchanges like Binance.
Where to Buy GST Token
GST (Green Satoshi Token) can actually be bought as well on exchanges like FTX.
Stepn to PHP Conversion
Are there other move-to-earn applications?
Aside from Stepn, there is also another move-to-earn game on the solana network. It is called Genopets, an MMORPG game that tokenizes a player’s physical movements as assets inside the game through the help of wearable devices. (Read more: First Ever ‘Move-to-Earn’ NFT Game Raises $8.3M Seed Funding)
The Philippines, on the other hand, have a “learn-to-earn” platform where a web 3 company helps students learn while earning cryptocurrency. (Read more: Filipina Entrepreneur Builds ‘Learn-To-Earn’ NFT Platform)
This article is published on BitPinas: Stepn Guide Philippines: ‘Move-to-Earn’ NFT App Pays You to Walk
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.