Web 3.0 has found a way to combine exercise with a complex gaming strategy.
As move2earn games rise in popularity, Stepn has found a way to utilize the blockchain to create a complex game – involving NFTs and crypto – and encourage exercising as well.
And yes, you can use Stepn to earn crypto for walking and more!
Stepn is more than an exercise app. It’s a complex gaming system that encourages staying active. Using levels, NFTs, cryptocurrency, and more, this “move2earn” game gets gamers to enjoy exercising their brains and bodies. Players can walk, jog, and run to level up in the game and earn crypto. As players learn the game, they develop a strategy to optimize crypto earnings and unlock more levels.
The Stepn website shows real-time stats on distance players have run, carbon offset amounts, calories burned, Discord members, and Twitter followers. The site also hosts a few YouTube videos to help new members get started playing the game and teaches strategies on how to earn more crypto.
What It Offers
Stepn uses Solana (SOL) to purchase NFTs required to play the game. These NFT sneakers — bought with Solana coins — offer different attributes and gems that may boost your crypto earnings. Available exercise earning time or energy can also determine how much crypto you earn at a time.
It includes many factors that determine the amount of crypto you earn, so crafting a strategy is essential. Since sneakers are tradeable NFTs with an expensive buy-in, you’ll want to determine how to utilize your purchase to earn the most crypto over time.
Although sneakers are bought using Solana, earnings are paid out in Stepn’s utility token, called Green Satoshi Tokens (GST). These tokens can later be exchanged for USD Coin.
Types Of Sneakers
Start by choosing a sneaker that coincides with your fitness level.
- Walker: Earns 4 GST per energy spent and is suitable for users moving 1- 6 km/hr
- Jogger: Earns 5 GST per energy spent and is suitable for users moving 4 - 10 km/hr
- Runner: Earns 6 GST per energy spent and is suitable for users moving 8 - 20 km/hr
- Trainer: Earns 4 - 6.25 GST per energy spent and is suitable for users moving 1 - 20 km/hr
Find A Sneaker In The Marketplace
Once you’ve decided which sneaker type best fits your fitness goals, you can choose the one you like from the in-app marketplace. If you want a higher energy level to earn more crypto, you can purchase multiple sneakers. Stepn’s marketplace also offers a ‘shoebox’ for sale containing a mystery sneaker with random type and quality for the adventurous user.
- Gems & sockets: There are four gems with differing attributes, including efficiency, luck, comfort, and resilience. Each gem has a corresponding socket, and whenever a gem is inserted into a socket, that attribute is enhanced in the sneaker.
- Repair: Sneakers lose their durability when used in gameplay and require GST to repair.
- Attributes: Efficiency allows for higher GST earnings, luck improves the quality of Mystery Boxes, resilience reduces the amount of repair needed, and comfort (which is currently still under development) improves Stepn’s governance token earnings, called Green Metaverse Tokens (GMT).
- Quality: Each sneaker’s quality is determined by its attributes' minimum and maximum value.
Stepn Pricing and Fees
Stepn earns profits by charging fees for selected in-app activities. Many of these fees profit the NFT creators and the app users themselves. There are various fees throughout the game, ranging from 2% to 8% from each purchase:
- Marketplace Trading Fee: 2%
- Marketplace Royalty Fee: 4%
- Shoe-Minting: 6%
- Sneaker Rental: 8%
Not sure if Stepn is right for you? Here are a couple of alternatives in the move2earn sphere to explore.
Sweatcoin offers a more simple move2earn approach. Simply walk or jog to earn Sweatcoins, which can be donated, used to purchase select goods, or converted into SWEAT, a brand new cryptocurrency. There is also a premium subscription service – paid in SWEAT – to access NFTs, markets, social media, and more.
If you’re looking to earn crypto with other forms of exercise, perhaps try the DOSE token. DOSE gamifies several different fitness experiences as “missions,” so you can earn tokens while doing more than just walking or jogging. DOSE even has an upcoming game format where you can earn tokens for cycling. Players can get started for free and use their earned tokens to buy NFTs, unlock items or participate in unique events.
Account Opening Process
Opening an account at Stepn is as simple as downloading the app, signing in with your email address, then verifying the account with a code. Once you’ve signed up, you'll have to create a new wallet if you don’t already have one.
You’ll receive a secret 12-word phrase that you need to access your wallet if you forget your password, so keep a physical copy of the phrase in a safe place. After that, simply place SOL in your wallet to purchase your first NFT sneakers.
Stepn uses the Binance exchange. Crypto exchanges have KYC or “know your customer” requirements to verify a user’s identity. These requirements are mandatory to comply with crypto regulations and typically take a few minutes to complete after registering with an exchange.
Binance’s KYC process requires various documents for verification, depending on which country you live in, including a government ID, facial verification, proof of residence, and other personal information.
Safety And Security
Stepn developers worked hand-in-hand with Verilog to discuss potential vulnerabilities with the app. Verilog also provided an in-depth audit of the finished code to search for any security problems.
To secure user transaction and log-in information, Stepn uses Google two-factor authentication. Stepn also makes a point of following Google and Apple privacy requirements.
Stepn’s website has little contact information listed. However, you can reach their customer service via email. Customer service options are limited, though it is unlikely you’ll need anything extremely urgent from this app.
Pros and Cons
Stepn is more than just a move2earn app. It takes exercise as a game to the next level. Not only can players use attributes and movement to earn crypto, but they can also trade sneakers and cash out their earnings for real money. The game combines exercise and crypto trading in a way that could pay you to get off the couch. That’s a win-win for your waistline and your wallet.
Eric Rosenberg is a financial writer, speaker, and consultant based in Ventura, California. He holds an undergraduate finance degree from the University of Colorado and an MBA in finance from the University of Denver. After working as a bank manager and then nearly a decade in corporate finance and accounting, Eric left the corporate world for full-time online self-employment. His work has been featured in online publications including Business Insider, Nerdwallet, Investopedia, The Balance, HuffPo, Investor Junkie, and other fine financial blogs and publications. When away from the computer, he enjoys spending time with his wife and three children, traveling the world, and tinkering with technology. Connect with him and learn more at EricRosenberg.com.