Running is one of the best and easiest physical activities you can get into to get fit and healthy because of its many health benefits. But what if I tell you that there's now an app for running that besides helping you keep fit, you can also earn from. You read that right! This is exactly what the up-and-coming play-to-earn Web3/blockchain-based lifestyle app STEPN offers. It leverages the power of blockchain technology to let players earn while they run or move.
Launched last December 2021, STEPN incorporates blockchain technology for the decentralized transfer of information and assets. It makes it possible for the game to use non-fungible tokens or NFTs, which are unique tokens that cannot be replicated. For many blockchain-based play-to-earn games such as STEPN, NFTs act as tokens that can later be traded for cryptocurrencies.
How it works
To begin playing, you need to download the STEPN app available on the Apple App Store or Google Play. Players will need to sign up, create a wallet for the application and buy an NFT sneaker from the in-app marketplace. The sneaker will depend on the player's type of activity - Walk, Run, Jog, or Train. The NFT sneaker is paid using SOL, the native cryptocurrency token of the increasingly popular Solana blockchain. STEPN is also built on the Solana blockchain. Once a player’s sneakers are set, all they have to do is begin moving. The app’s GPS will track a player’s movement and reward him/her for successfully maintaining the required pace of the type of sneaker they’re wearing.
The NFT sneakers are what the STEPN app uses to disburse the player’s earnings. Different sneakers will require different levels of activity, and have different stats for efficiency which determines the rate of earnings. Owning a sneaker NFT will allot a player with 2 Energy points per day, and more energy points can be added once a player owns more than three sneakers, allowing for more run time and consequently, more earnings. Depending on the type of sneaker the player gets, one unit of Energy can earn the player varying levels of GST. GST is STEPN’s in-game token and as of writing, one GST is worth approximately P30. A Walk-type sneaker that requires movement of just 1-6 kilometers an hour can earn you up to 4 GST tokens per Energy, while a Runner-type sneaker that requires movement of 8-20 kilometers an hour can earn you up to 6 GST tokens per Energy.
It's easy for Filipinos to begin playing STEPN. Since SOL is already available on PDAX, the leading homegrown crypto exchange in the Philippines; through PDAX, Filipino STEPN players can easily convert their pesos to SOL and purchase an NFT sneaker. After creating an account, users would just have to cash-in to begin buying, selling, and trading crypto. They can cash-in through 7-Eleven/CLiQQ machines, DragonPay, ECPay, GCash, PayMaya, or through online bank transfers. Cash-outs from PDAX are also done through popular outlets such as InstaPay, PayMaya, PESONet, and more. You can download the PDAX app through the Apple App Store and Google Play to purchase the SOL you need.
In future updates, another token called GMT can be collected. GMT is the game’s governance token which may be eventually earned by leveling up your NFT sneaker, halving events, and/or random daily distribution. Both GST and GMT can then be traded for other cryptocurrencies such as SOL or even fiat currencies—enabling players to literally earn as they run.
Indeed, since its launch, STEPN has gained a large amount of attention as it presented a new way for people to get fit while combining the best the worlds of blockchain and NFTs have to offer. Just last April, STEPN collaborated with global running shoe brand Asics where they released a collection of limited edition STEPN Asics sneaker NFTs. The collection gained more than 95,000 participants and subscribed tickets from the STEPN community. The collection’s trading volume even exceeded USD$10 million and maintained a floor price of USD$3,000.