In the previous article in our Move to Earn series, we discussed the M2E space and how STEPN has positioned itself as a leading project in this space. The Move-to-Earn trend is gaining momentum (no pun intended) and the success of STEPN is something many want to replicate; enter Step App.
Step App decided to take a different approach to their project economy.
How does it work?
The gameplay is pretty similar to other FitFi (Fitness Finance) products – users get rewards for their daily fitness activities. The Step Count is activated by walking, jogging or running in order to earn. Users can also compete with friends or strangers, socialize locally or globally and experience the metaverse along with their physical world in a dynamic new way.
Step App products:
Fitness Metaverse: Combining NFTs & Digital Avatars with exercises
NFT Market: Buy & Sell SNEAK
Limited Drops: Limited edition SNEAK
To earn tokens users require NFTs, which are sold directly in the app. The significant difference with its predecessor is the ‘Competitive Mode’, in which you can challenge another user to a duel and wager tokens.
Step App is running an early sign-up campaign that gives users the opportunity to win free NFTs. In its early days, the Step App boasted more than 59,000 pre-registrations.
A successful token sale was conducted on DAO Maker, which is a very reputable launchpad. Under the terms of this sale, the participants were charged a commission of 30% of the purchased tokens, which were then burned.
Step App is currently conducting an airdrop of 10,000 $FITFI, which you can still participate in (the deadline is June 15, 2022). All you need to do is:
- Visit the website page.
- Enter your mailbox.
- Enter the code you received.
- Enter the referral code if you have one.
- Enter your wallet address.
You will be able to exchange these points for game tokens.
Beta testing for the platform is planned for Q2 2022 according to the project’s roadmap.
There are two primary tokens in the game: $FITFI and $KCAL.
$FITFI is a governance utility token built on the Avalanche blockchain.
Total Supply: 5,000,000,000
Circulating Supply: 300,000,000
$FITFI is used for:
- ‘Bet’ to get a share of the ecosystem
- Bet to get a discount on price when purchasing NFTs
- Stake to earn portion of ecosystem fees
$KCAl is an in-game token used for:
- Casting and maintenance of SNEAK NFTs
- NFT staking and in-game rewards
- Minting: SNEAKs can only be minted with KCAL tokens
- Burned in the creation and maintenance of the SNEAKs
Note: $KCAL tokens are not actively traded yet.
The economy includes staking rewards, buy backs, burns, locks, and liquidity incentives, which are driven by the alignment of gameplay privileges and the value of the game economy itself.
- Microtransaction: non-Sneak purchases such as map styles, character skins, Sneak skins, etc. are paid for by credit card or cryptocurrency.
- Staked Play: Players can compete against friends or other players. These competitions can be run with staked governance tokens. A 2.5% commission is charged on the winning pool.
- Tournament Gaming: Players can compete for a place on global and regional leaderboards. Victories in tournaments unlock unique skins and are entered into a special leaderboard. Tournaments require a ticket, the purchase of which adds to the prize pool, with the game deducting a 5% commission on all ticket fees accrued.
- NFT Marketplace: a 2.5% commission is charged on all trades on the Marketplace in the app.
- NFT Sales: once a month, there will be a limited-edition Sneak sale.
Shall I invest in a Step App?
Step App has room for growth, which means $FITFI looks attractive to hold. The thing that makes this app even more eye-catching compared to STEPN is that it is relatively new. While STEPN already has a huge number of players, Step App is only approaching its Beta. If you haven’t had time to get into STEPN, you can try to get into Step App, especially since you can now do some staking and get a chance to mint your sneakers at a very low entry price.
Of course, there are risks of token devaluation, but it is highly probable that we will see some bullish sentiment as the release of the app approaches. However, we always encourage you to do your own research prior to investing, and only invest what you can afford to lose 🙂
Stay tuned to DigitsBlog for upcoming reviews of other promising M2E projects!