Unique Web3 project STEPN incentivizing users to get moving in real life.
Move-to-Earn
In an Ask Me Anything (AMA) on May 10 between Yawn Rong, co-founder of STEPN, and Solana News on Twitter, the co-founder gave users plenty of insight into the project and even teased some upcoming updates.
As the Play-to-Earn space grows in popularity, STEPN, a Move-to-Earn project, has emerged, giving users a new way to earn dollars while exercising. The project is unique because it requires users to move outdoors physically. Further, the various anti-cheat mechanisms built into the project mean no treadmills or simply turning on the app and leaving it on. Rong joined the Solana News team to discuss a variety of topics about STEPN, which included the following:https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-2&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NlbnNpdGl2ZV9tZWRpYV9pbnRlcnN0aXRpYWxfMTM5NjMiOnsiYnVja2V0IjoiaW50ZXJzdGl0aWFsIiwidmVyc2lvbiI6bnVsbH0sInRmd190d2VldF9yZXN1bHRfbWlncmF0aW9uXzEzOTc5Ijp7ImJ1Y2tldCI6InR3ZWV0X3Jlc3VsdCIsInZlcnNpb24iOm51bGx9fQ%3D%3D&frame=false&hideCard=false&hideThread=false&id=1523839889543811072&lang=en&origin=https%3A%2F%2Fwww.web3wire.news%2Fpost%2Ftwitter-spaces-recap-of-the-week&sessionId=6cbdad7d5c1e4991327cb1b673a6fcc8e1bbcd12&theme=light&widgetsVersion=c8fe9736dd6fb%3A1649830956492&width=550px
On what’s coming:
An update to the project is being rolled out soon, which will begin phase 4 of the project.
There will be a continued focus on anti-cheat mechanisms to prevent any gaming of the system.
The project will be rolling out a series of offline social events and is even looking at possibly establishing a Decentralized Autonomous Organization (DAO).
Several sneaker giveaways and promotions are planned for the growing community.
Q3 will see a significant new feature where users can rent out their sneakers for profit. Under the current rental design, the contract between the renter and owner will be a 70/30 split in favor of the owner. The owner will remain responsible for the upkeep of the shoe.
On tokenomics:
Rong emphasized that the project doesn’t set the floor price for sneakers. An initial batch of NFT sneakers was given away to early users as part of testing. Through ongoing minting, more sneakers are produced, and users set the floor price accordingly.
When asked about the incentive to earn GMT, Rong explained that a certain percentage of GMT has to be burned before its full use case can be realized. While the project still determines the burn threshold, once reached, users will start earning GMT.
The project will be releasing more use cases for GMT with upcoming project updates. GMT earnings will be capped at a fixed number per day. As users achieve level 30, they will see these rewards. As more users reach level 30, the number of rewards will be divided among a bigger group. This will reward early adopters.
On user experience:
Work is ongoing behind the scenes to optimize the app and the network as transactions take longer than expected.
Transfers between your ‘Spending’ to your ‘Wallet’ are taking longer than usual due to the general network issues with Solana. Therefore users should be patient with their transaction times.
One user raised a question about hacked/stolen shoes, and Rong confirmed that these hacks happen through compromised personal emails. Hackers access the accounts, selling the NFTs and transferring the funds. The project actively monitors these situations and works with users to recover stolen assets.
There is, however, a verification process to ensure that users are not gaming the project by faking a hack. In addition, the next update will facilitate 2-factor authentication to protect users further.
On the future of STEPN:
STEPN is currently paying users thousands of dollars each day, and the number continues to grow as the number of users grows. STEPN is looking to leverage the size of the database to onboard Web2 brands that will offer unique perks to STEPN users.
In exchange for access to the user base, those brands will offset the payouts being made by STEPN. Rong was explicit in outlining that the number of rewards won’t decrease, but rather, the payer of these rewards will change over time.
A lot is happening in this space, and STEPN is among the leaders, given the size and scope of this project. As more users are onboarded, seeing what new features are rolled out will be extremely interesting. Follow along as I capture my own user experience with the app, from getting set up to purchasing my first sneaker and all the leveling and repair considerations.
More AMAs
Solana News has been busy speaking with several projects. On May 9, Solana News hosted an AMA with Nyan Heroes’ founder Max Fu who talked about the protocol’s focus on building out the ecosystem of games and products on top of the existing IP. One example of how this will be achieved is through an open-world concept. The recording can be found here.
On May 12, an AMA was also hosted with Darley Go, a Solana-based horse racing GameFi project that works off a mythical theme. Players use NFT horses to play in several game modes such as (PVP), training, breeding, and other gameplay options.
What is STEPN:
StepN is a Solana-based Web3 move-to-earn application that combines fitness and environmental consciousness with fun social elements and a gamification design. The application’s revenue model is to profit from taxes on in-app activities like NFT trading, shoe minting, and rentals.
Find more about STEPN here:
Website | Twitter | Whitepaper | Telegram | Medium | Reddit | Discord | Litepaper |
What is Nyan Heroes:
Nyan Heroes is a PlayAndEarn NFT based game that is built on the Solana blockchain network as a part of the growing metaverse. In the game, players will be able to collect Nyans (Cats) and their Guardian Robots as NFTs. These heroes can then be used to battle other players in a shooter-style action game. The main cryptocurrency behind Nyan Heroes will be $NYN. The token will provide a multifunctional governance token allocated during private and public sales, with specific proportions set out for the core team, staking rewards, and community treasury.
Find more about Nyan Heroes here:
Website | Twitter | Youtube | Telegram | Medium | Discord | Gitbook |
What is DarleyGo:
DarleyGo is the world’s first myth-based NFT horseracing game built on Solana where users can race, collect, and build their horse empire in an exciting multiplayer NFT game. The horses are all NFTs and have unique characteristics and abilities. With the implementation of NFTs, players can trade the horses and other in-game collections over any public NFT marketplace. The team is composed of hardcore horse racing enthusiasts, skilled mobile game and blockchain developers, and game and movie graphic designers (ex-Racingland, Tencent, Alibaba, Mastercard, Capcom, and Bandai Namco). The game is boosting the growth of the gaming industry with its unprecedented racing mechanics combined with a promising play-to-earn system. DarleyGo has managed to gain the support of community members and crypto-enthusiasts who believe in its core vision of offering interactive, extremely satisfying, and creative races where players can earn rewards for participating.
Where to find DarleyGo:
Source : web3wire.news
