Recently, play-to-earn has become a prevalent trend in the cryptocurrency and gaming industry. Now, however, another variation of it has emerged – move-to-earn. In short: users can receive rewards for their physical activity in the form of steps. Will the desire to earn money influence people to become more active and make them lead healthier lifestyles?
STEP or STEPN? Simplicity vs. NFT
When looking for move-to-earn projects, we may feel slightly confused. For among them, we will find two similar-sounding ones: STEP and STEPN. The only thing these two projects have in common is the need for physical activity and taking steps, while everything else is different.
STEP
The idea of the project is straightforward. Users are rewarded with daily rewards for walking. To participate, users must complete the following conditions:
- Users must download the STEP app available on iOS and Android devices and allow it to track their activity.
- Users must enter their wallet address, where they must deposit at least 20,000 STEP tokens (approximately $980 at writing).
- To participate in the prize distribution, users must complete a minimum of 4,000 steps and synchronize the application every day.
- The maximum reward users can receive in one day is $10. They have a chance to get it by completing 30000 steps
- The prizes are paid daily to user wallets in the form of BNB.
- The reward pool comes from the fees charged when selling and buying tokens. Thus, the reward for completing the same number of steps on different days may give users different rewards.
The price of 20,000 STEP tokens is currently around $1000 (this value has risen sharply in recent weeks), so the threshold for entry into this project is relatively high. However, with a significant commitment, the same amount of money can be earned in just 2-3 months.
Developers have announced that with the increase in the valuation of tokens, the number needed to participate in the rewards will be reduced. Tokens can be purchased on popular decentralized exchanges like PancakeSwap. In addition, the project also allows for staking, and an NFT collection is expected to be released soon. STEP was launched at the turn of the year and is slowly gaining a growing audience.
Official website of the project: https://www.walkwithstep.io/.
STEPN (GMT)
A project about which there has been a lot of noise recently due to a massive increase in its price value. From a dozen cents at the beginning of March to more than $3 now.
The project is based on the Solana network and combines elements of NFTs, GameFi, and SocialFi. To earn rewards, users need to buy shoes in the form of an NFT and start a physical activity.
There are four types of shoes to choose from: walker, jogger, runner, and trainers. The price of each pair of shoes varies depending on their style, rarity, or level. Users can increase their earnings by leveling up, repairing, or upgrading the attributes of their shoes with gems. Shoes get damaged with use, so some of the tokens earned must be spent on fixing them.
The game is currently viral, even though starting a move-to-earn adventure, in this case, is not cheap. An NFT with a basic shoe will run users roughly 12SOL, approximately $1200 at the current prices. In addition, to start the adventure, users need to have an activation code. You can get it from another player or hunt for one of those distributed daily by the developers. However, you have to be quick as the codes spread rapidly.
Official website of the project: https://www.stepn.com/.
Let Health Win
Which of the projects will attract a larger group of users? Time will tell. For now, thanks to the support of Binance, STEPN (GMT) is much more popular. In this project, people experienced in the cryptocurrency market will find it easy to use, but it may be too complicated and expensive for the “street.” This opens a chance for STEP, which, thanks to the project’s simplicity, can also reach those less familiar with the world of digital assets.
Who do you think will emerge victorious from this step battle? Or will it be all those who, in a rush for dollar signs, move from the couch and change their lives? Even the Pokemon GO game has encouraged millions of people to move. Here, users get extra rewards, not just virtual creatures.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
Follow us on Twitter @themerklehash to stay updated with the latest Metaverse news!
The post Move-To-Earn Projects: STEP vs STEPN appeared first on The Merkle News.