StepWatch – Upcoming M2E IDO
Previously we released a series of posts reviewing move-to-earn projects. Most of them have closed all their fundraising rounds already. So today we would like to bring a new M2E project – StepWatch.
StepWatch is a fitness and health tracking mobile app developed on web3, combined with an integrated NFT game and social networking platform. This app aims to promote physical activity, support you in dealing with obesity and sedentariness, and offer a new way to earn money for enhancing health and connecting to Web 3.0.
StepWatch’s mechanism is simple: it uses the sensors in the player’s mobile device to measure movement and automatically rewards them for being active. To get started, customers will need to purchase NFTs from the marketplace.
Users are rewarded with the native utility token for partaking in fitness-related activities. Tokens gained on the platform can be swapped, sold, or traded on the marketplace or a third-party exchange.
StepWatch NFTs
StepWatch will operate similarly to numerous other M2E projects – with the help of the NFTs. In this particular case, it will be Watch NFTs.
The whitepaper says it will be possible to either buy NFT or try playing with the free one.
Watches are classified according to the following criteria:
The energy of the StepWatch is indicated by the Cooldown bar. When the Cooldown bar returns to zero, the Performance bar is fully charged.
Gameplay
There are 3 modes available: Solo, Team and PvP.
Solo Mode is the basic training mode for individuals.
Team Mode is an advanced training mode for each person when participating in a team that runs together. When participating in Team Mode, the Captain may receive different productivity growth rates for all members depending on the number of NFTs they have.
More information on the PvP Mode is coming soon.
Missions will also be available for the users who want to earn extra $SWE. The amount of $SWE tokens received depends on the difficulty of each operation. The greater the difficulty and distance, the greater the reward.
Social Network
The social network integrated into StepWatch is a WEB3 platform in which StepWatch users can write articles about their workouts or provide tutorials for others.
The platform focuses on content sharing and allows people to write articles and posts, then assign them to independent NFTs that can be shared with followers.
In this social space, fans can follow content creators, and fans can search, reward creators with tokens or purchase content and put NFTs in their collections.
Secret Box
As in any move-to-earn project, users will have an opportunity to buy secret boxes to randomly get the following 3 items:
- Gems
- Tickets
- Tokens
Tokenomics
StepWatch issues 2 separate types of Tokens to avoid conflicts between the reward system and the project finance system. Each type of token has different tasks and functions.
$SWP is the main token of the project. It is considered a utility token with many applications inside and outside StepWatch.
Blockchain: Polygon
Features of $SWP
- It acts as the main Token and a handy token that takes on many functions of the StepWatch.
- Users who own SWP have a lot of benefits when joining StepWatch and can participate in DeFi features.
- The total supply of the Token is 5 billion to create an attractive price for the holders.
$SWP token sale will launch at Gate.io and BullPerks (StepWatch partners) on July 11.
Trading pairs: SWP/USDT.
Public Sale Price: $0.05
Total supply: 500,000,000
Public sale: 2,000,000 (0.40%)
Initial Market Cap: $429,167
Fully Diluted Market Cap: $25,000,000
Circulating Supply: $SWP 8,583,333
$SWE is an earn token for the project and a major reward token for using NFT and participating in StepWatch activities. Token can be easily converted to the main token – $SWP – to implement liquidity.
Total supply: unlimited.
Partners
StepWatch is also audited by Certik.
The Team is based in Korea, full names are presented on the website. However, there are no LinkedIn profiles and there is no information about the team in the whitepaper.
Socials
Twitter – 46.4K followers
Telegram – 18,482 subscribers
Discord – 56,066 members
Summary
In general, move-to-earn apps are the ones getting the most hype these days. Does it depend on the bear market sentiment? Or maybe more and more people are looking to join crypto space and earn from their daily activities?
Anyway, StepWatch is looking to become a new opponent to Stepn (the latter being in the downward trend since May). We recommend you to do your own research and try investing in M2E if you haven’t done it yet!