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The crypto industry has had the goal of changing the world and our lives ever since the launch of Bitcoin. In later years, after the blockchain came under the spotlight, an endless amount of possibilities opened up, showing us that using cryptocurrencies for making faster, cheaper international transactions is only a drop in the sea of potential.
Over the years, crypto/blockchain came into contact with nearly every industry under the sun, from supply chains to gaming, from art to digital banking, and much, much more. However, today, we wanted to discuss a different project — one that aims to impact the users’ lives more directly, and its name is STEPN.
Essentially, it is a project that aims to reward you for taking steps, which includes walking, jogging, and even running.
What Problems Does STEPN (GMT) Solve?
You might be wondering — what can a project focused on encouraging people to run solve? What kind of issues is it good for? Well, there are actually quite a few.
Increased blockchain adoption among fitness enthusiasts
Fitness enthusiasts out there know that exercising is its own reward, but it can be quite costly. From buying various tools and gear to purchasing energy bars and protein shakes — living a healthy lifestyle comes at a certain cost. But, if a project such as STEPN emerges, not only encouraging you to exercise, but rewarding you for it with actual money, it is likely that it would soon become a hit among those who like walking and running.
In fact, it might even attract people who had no previous interest in cryptocurrency and blockchain technology. We will talk about the benefits of joining the project soon enough, but for now, keep in mind that you can not only go on your daily run as you usually would, but you would have a chance to earn from it, as well.
Burning tokens for benefits
Players who buy GMTs to burn in the STEPN app can access certain features that the project has to offer, such as minting high-quality Sneakers, as well as upgrading high-quality Gems, and participating in governance. In other words, this project has a burning mechanism that relies on players choosing to burn tokens in order to unlock certain benefits, and in doing so, they are also reducing the supply and making the token more valuable.
Benefits of STEPN (GMT)
We mentioned that there are benefits involved from using the project and using its GMT (Green Metaverse Token), so let’s take a look at what you stand to gain by engaging with STEPN.
Walk, jog, or run to earn GMT
As mentioned, this is a token that rewards physical activity with its native cryptocurrency, the GMT. So, if you are already going on regular walks or jogs, you can earn some money while doing it. If you were always wanting to start exercising but could never make yourself actually go for a run, this project could provide an additional incentive.
And, of course, there are many who have to walk for hours as part of their job, daily routine, dog walks, and alike, and they also now have an opportunity to make all that walking profitable and rewarding.
Obviously, spending the day in the chair or on the couch is not exactly the healthiest way to live your life. You need to burn the calories that you bring in through your meals and drinks, and by engaging in physical exercise, you are also strengthening your heart and lungs. You can get your blood pumping, increase the oxygen levels in your body, and generally become healthier simply by moving around.
This app will encourage you to take a walk instead of driving your car a short distance, or start taking calming evening walks, whether alone or with your friends or family members. You can just walk around and listen to music, your favorite podcast, an audiobook, or anything else you are interested in, and once you get back home — you will have earned some GMT along the way.
By owning GMTs, you also become the part of the STEPN community, which means that you will have the right to participate in the project’s governance. What this means is that you can help decide the project’s future by voting on important decisions and proposals, or submit your own proposals and have the rest of the community do the voting.
How Does STEPN (GMT) Work?
STEPN is a Web3 lifestyle app with SociaFi and GameFi elements that aims to “make your steps count.” It allows players to make “handsome earnings” by walking, jogging, and running outdoors. The project features a native token called GMT, which can be purchased and burned in the STEPN app in order to access the features that the project has to offer. That includes minting high-quality Sneakers, upgrading high-quality Gems, and participating in governance.
Sneakers that the project offers come as NFTs, and by walking, jogging, or running with a specific type of Sneaker, users can earn GMT, which can then be used to level up, mint new Sneakers, or simply exchange them for USDC. The app has its own Marketplace where you can sell NFT Sneakers, and all the earnings that you make are stored in the in-app wallet, which has a built-in Swap function.
How to Buy STEPN (GMT)
Currently, STEPN (GMT) is available for purchase on the following exchanges.
Uphold – This is one of the top exchanges for USA & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
Uphold Disclaimer: Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong..
Kraken – Founded in 2011, Kraken is one of the most trusted names in the industry with over 9,000,000 users, and over $207 billion in quarterly trading volume.
The Kraken exchange offers trading access to over 190 countries including Australia, Canada, Europe, and is a top exchange for USA residents. (Excluding New York & Washington state).
Binance – Accepts Australia, Singapore, and most of the world. Canada & USA residents are prohibited. Use Discount Code: EE59L0QP for 10% cashback on all trading fees.
STEPN (GMT) — A lifestyle app with GameFi and SocialFi elements
STEPN is not the first project to try to incentivize people to live a healthier life with cryptocurrency, but it is by far the simplest one to use and interact with. With the overall awareness of health issues and the importance of exercise on the rise, we expect that this project will likely attract quite a bit of attention in due time, and you can be among those who will adopt it first and spread the word.
The project is only about a month old as of April 9th, 2022, so you still have the chance to be among the early movers and adopters right now.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.
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