It is a pleasure to see you all here again. In this post, I would like to share some important news with you. Most of you are probably aware of play-to-earn platforms and games, but have you heard of the Earn while you Run concept?
That sounds interesting, doesn't it?
This concept is a result of an app developed by STEPN, a metaverse web 3 lifestyle app that incorporates social-fi and game-fi insights. I will describe the project and the steps necessary to play this game step-by-step.
STEPN: What is it?
STEPN is an app that requires you to step outside in order to use it. You can earn virtual assets by playing the new metaverse move-to-earn game application. Staying fit is one of the main goals of STEPN. Every NFT enthusiast is drawn to this project and it became very popular among the youth. What could be more appealing than earning money with your feet! Thus, it became popular around the world.
STEPN (GMT) is a cryptocurrency based on the Solana (SOL) blockchain. According to experts, the massive increase in GMT price is due to the hype surrounding DeFI projects that award tokens to users for staying active. Users of STEPN can receive rewards by walking, jogging, or running.
The STEPN application comes with a built-in marketplace and specific wallets with unique swap exchange functionality. You can buy and store sneakers/boots through the app.
Additionally, users can resell their sneakers and boots on their secondary marketplace.
This all sounds exciting to you, and are you interested in trying it out? Great! Let's now take a look at how you can play STEPN step-by-step.
STEPN Tokenomics: How Does It Work?
The STEPN app develops a marketplace and specific wallets with built-in swap exchange functionality. It enables users to buy and store sneaker/boot NFTs. The secondary market allows users to trade their sneaker/boot NFTs.
STEPN has two tokens:
Green Satoshi Token (GST): A token that has an endless supply.
Green Metaverse Token (GMT): GMT is a governance token with 6 billion issuances.
In order to earn GMT, you must be at least level 30, GST while can be earned immediately.
Both GST and GMT are cryptocurrencies, and you can convert them into USDC to have a stable earning or can cashout at the current market price.
Easy Steps To Play STEPN
How to move and earn with STEPN: "Playing STEPN requires first downloading the app, registering your account, and getting an activation code. When you have done this, you will be able to choose a sneaker NFT that suits your fitness level and get outside.
You're going to get energy every 6 hours, so 4 times each day. Depending on the shoe you buy, the amount of energy you receive will be different (For joggers you will receive .5 energy every 6 hours, in total 2 in a day).
You will have to move at the optimal speed of the sneaker you have chosen once you have gained energy.
You can only earn as long as the energy lasts. You will earn GST, and after reaching level 30, you will earn GMT as well. Both GST and GMT are cryptocurrencies and can be withdrawn."
Note: It is recommended that you spend all your day's energy at once so that the cost of repairing your shoes is lower and your GST earnings will be higher.
It is important to understand that this is not a game you can simply play for free right now. Because you'll need to purchase an NFT sneaker, the entry point is actually quite high for a lot of people. Please do not be deterred by this. STEPN is developing a system in which those without a sneaker can rent one from someone who has one, and the earnings will be split between the two. STEPN will introduce this feature soon.
Let's talk about it deeply...!!!
1. Install the STEPN app
Make sure you download the right version of the app from the iOS Play Store or Android App Store.
2. Create your STEPN account
Once you have created a STEPN account via the app, you must enter your email address and tap the "Send Code" button. A verification code should be sent to your email within a few minutes. Log in to the app after pasting it.
3. Enter the STEPN activation code
Now you'll have to deal with the tricky activation code. Yeah! Once you sign up, there's a checkmate! It requires an activation code. The activation code could be obtained in many ways.
(i) When STEPN users burn 10 energy, they receive 1 activation code. It may be possible to obtain an activation code from existing users, but there may be some restrictions.
(ii) Join the STEPN Discord server:
-First of all, you need to join the STEPN Discord server. Click on the link to join: STEPN Discord server.
-Please download Discord if you don't already have it. At the beginning of 2022, STEPN was in a public beta phase. Therefore, you need to have an activation code to create an account.
-Joining the STEPN Discord server is the best way to obtain an activation code. The activation codes will be generated in a channel called "-activation-codes" on the server. There will be one activation code distributed every 12 minutes.
-You will need to be an early bird to receive it. So, when you receive the activation code, you must copy it and paste it right into the app. You might have to wait for the next code if another person uses it before you.
-In order to access the STEPN Discord server fully, you need to agree to the rules and verify your identity. You do not need to do that if you are only looking for a verification code.
(iii) Join the Telegram group of STEPN:
Joining the STEPN Telegram group is another option. Click on the link to join STEPN Official English Group. Get activation codes by going to: https://stepn.com/getCode?id=16467124561514.
You need to download Telegram first if you don't already have it. STEPN app updates, news, and announcements are posted in the group.
A new activation code is given out every day. You have to tap the pin icon after you've joined the group. You will then only see pinned messages. This is necessary since there are way too many messages in the group. Once you've tapped the pin icon, browse to the activation code link.
Simply click the activation code link, complete the CAPTCHA, copy the code, and paste it into the app. A message on the website saying "No more activation codes left..." means you need to wait for another link to appear.
The link will appear daily at 1 PM UTC (6:30 PM IST). In the same way that STEPN Discord is distributed, activation codes are available on a first-come, first-served basis. Thus, the link should be clicked as soon as it has been sent at 1 PM UTC (6:30 PM IST). By doing so, you'll have a higher chance of getting a code.
(iv) As well as on STEPN Discord, STEPN Reddit, and in other crypto communities' giveaways, you can find the STEPN activation code.
The limit for STEPN activation codes is:
Discord: 1,000 activation codes per day.
Telegram: 1,000 Activation Codes per day.
4. Set up a STEPN wallet
Once you have activated your STEPN account, you will be taken to the STEPN homepage where you will find a wallet icon in the right corner. When you click on the wallet icon, you'll see two tabs, Wallet and Spending. You can create a wallet by clicking on the wallet. It is also possible to import your wallet through seed phrase insights.
If you want to create a new wallet, then tap create a new wallet, where you'll need to enter a password. You should remember your password or write it down.
5. Transfer SOL to purchase your shoes
SOL is the only way to get a Sneaker/Walker/Jogger. To copy your address, click on receive after you create an account. Next, open Binance or any other exchange and select SOL. Put the address you copied from STEPN into the address box and enter the amount of SOL required to purchase the asset. The current value of 1 SOL is $51.11 (Please check its current price whenever you wish to purchase it).
6. Buy your Sneaker NFT
To earn money from STEPN, you need a sneaker. A digital sneaker is required to join the STEPN. You can choose from four different types of NFT sneakers, depending on your fitness level and preferred form of movement.
Types of Sneakers: Characteristics
1. Walker (1–6 km/h) (Earning 4 GST/ 1 Energy Spent)
2. Jogger (4–10 km/h) (Earning 5 GST/ 1 Energy Spent)
3. Runner (8–20 km/h) (Earning 6 GST/ 1 Energy Spent)
4. Trainer (1–20km/h) (Earning 4-6.25 GST/ 1 Energy Spent)
In their marketplace, you can purchase your desired sneaker.
Currently, the value of a sneaker is between 12.4 SOL to 20 SOL.
You can also re-trade or rent your Sneaker to other players to earn money. More information can be found on the Sneaker detail page.
You will find information on:
Quality: Common, Rare, Epic, Legendary
Efficiency: Increases GST earnings
Luck: About Getting the mystery box
Comfort: Increases GMT earnings (from level 30 onwards)
Resilience: Lower repair costs
If you plan on playing STEPN a lot, a good sneaker pays off in the long run. You don't need to overthink it if you're new to it all. Just get started. Figuring out STEPN takes time. It is still possible to sell your sneaker and buy a better one later.
7. Grab the sneaker NFT and start ear while run
How to choose the right sneaker: Picking a sneaker is not an easy task. Your choice among the four sneakers depends on your fitness level, what you are more comfortable doing, whether you are jogging, walking, or running. The next step is to choose among the same type of sneaker, for example if you want to buy shoes for runners, you have a lot of options with price variations depending on the characteristics (Efficiency, Luck, Comfort, Resilience, as we have discussed already). For the best GST earnings, you should always opt for shoes that have a higher level of "Efficiency (Increased GST income)" and more "Resilience (Lower repair costs)" so that you can maximize your GST earnings.
Now that you have chosen your favorite sneaker, get up and start earning money!
Turn on your GPS. Ensure that your GPS signal is strong. You will have difficulty earning money if your GPS is very low.
The most important thing is to maintain optimal speed. All you have to do is maintain the green zone to earn money.
Even the cleverest of you shouldn't try cheating. An anti-cheating feature is built into the STEPN app, detecting if you’re not running or walking like a real person.
Press Start and run...!!!
8. Swap or burn GST and GMT
You will earn rewards in the form of Green Satoshi Tokens (GST) or Green Metaverse Tokens (GMT) when you move more and more frequently.
With the STEPN app, you can use your GST to repair your sneaker, level it up, or mint a new sneaker.
GST can also be exchanged for USDC, a stablecoin pegged to the US Dollar which you can also convert to fiat.
The basic idea of playing STEPN can be summed up like this.
The following mistakes should be avoided by STEPN players:
1. Not having a strategic plan: A strategy is required before you buy an NFT sneaker. What will you do to earn GST: walk, jog, or run? Decide based on your level of fitness. Then buy a walker, jogger, or runner.
2. Failure to maintain optimal speed: Each type of shoe has a different optimal speed. The misconception is that running as fast as one can earn more GST/ GMT. Totally wrong. Persons with Walker shoes must maintain a speed of 1-6 km/h. If you walk faster or slower, you will earn no GST/ GMT.
3. Obsession with runners' sneakers: Since the runner sneakers offer higher earnings potential (6 GST/ 1 Energy), many beginners have been drawn to them. However, we found that some people did not run daily due to knee pain and oxidative stress. As a result, GST earnings were low. So, start with a walker or jogger, and then gradually switch to running shoes.
4. Choosing sneakers with higher mints: Due to style and other features, many players are choosing sneakers with a high number of mints despite the fact that they have higher shoe-minting costs. The cost of minting sneakers with 0 or 1 mints is usually lower. Choose a shoe that emphasizes efficiency and resilience. It would be nice if the sum of Efficiency and Resilience is at least 12.
Note: Higher Efficiency: More GST earned per unit of energy used, Higher Resilience: Slower decay of Durability.
5. Purchasing mystery boxes: Beginners often make this mistake. In the in-app marketplace, mystery boxes are more expensive than sneakers. As mystery boxes only have a 3% chance of dropping a rare sneaker, it isn't a wise choice over sneakers.
6. Sharing the walks and runs publicly: It is harmful to share your walks and runs publicly. Everyone does this. It is very dangerous to post the entire route map on platforms like Reddit, Telegram, Facebook, Instagram, or YouTube as you have no idea who is reading it. When it comes to sharing your achievements, at least share the map with blurred spots in between. Make sure you change your route or timing regularly for safety's sake. Avoid going out at night.
Cons of STEPN:
Every coin has two sides. The STEPN app can certainly earn you money and provide you with health benefits, but there's also a dark side to this app which we are gonna explain in this paragraph.
As we earn GST and GMT in STEPN, we know that GST has an unlimited supply, unlike GMT. It's not even been a year since this app launched, so the value of GST is high but with time the number of users will increase and the GST supply. As a result, GST may depreciate in value.
This concludes our guide to the STEPN app. Here, we have tried to provide you with all the details about the app and how to use it. If we have missed anything, feel free to let us know in the comments. Please share your experiences to help others.