What is STEPN GO? A detailed explanation of the latest GameFi that lets you earn money by walking!
"What is this GameFi that I've been hearing about a lot lately?" "Is it true that you can earn money just by exercising?" If you have such questions, we have the latest GameFi project "STEPN GO" is introduced here! In this article, we will thoroughly explain the appeal of STEPN GO, how to get started, and even the technical aspects that you may be interested in, in an easy-to-understand manner even for beginners. After reading this, you will definitely want to jump into the world of STEPN GO!
Introduction: A new form of fitness: "STEPN GO"
"STEPN GO" is a new Web3 lifestyle app created by the creative team behind the hugely popular "STEPN." It takes the "Move-to-Earn" concept, which allows users to earn cryptocurrency through daily exercise such as walking, jogging, and running, even further. A major feature of the app is that it's not just about exercise, but also allows users to enjoy game elements and social connections. The official website encourages users to "Enter the Alpha Prize Draw to Win Your First Stepn Go Sneakers," raising expectations for a new user experience. (Source: stepngo.com)
This app aims to connect people around the world by combining health promotion with financial incentives, and can be described as the next generation of fitness entertainment.
Overview / Game Features
STEPN GO is a multi-functional lifestyle app that not only lets you earn money by walking, but also provides fun ways for users to interact with each other and collect items. Let's take a look at its main features.
- The evolution of Move-to-Earn (M2E):
- Users can wear "sneakers," which are NFTs (non-fungible tokens), and earn rewards by walking, jogging, or running outdoors. (Source: App Store, Google Play)
- This basic structure follows that of the previous game, STEPN, but new game modules and social functions have been added. (Source: go-whitepaper.stepn.com)
- Social Features: "The Haus":
- "The Haus" is a revolutionary feature that allows users to lend their sneakers and energy to friends and family. (Source: go-whitepaper.stepn.com - The Haus)
- This allows you to invite friends to play the game without any initial investment and deepen your interactions with the community, a feature that truly embodies STEPN GO's goal of "connecting people."
- Engaging collaboration:
- STEPN GO is also actively collaborating with famous brands such as the global sports brand "adidas" and "CASIO G-Shock," known for its tough watches. (Source: collect.adidas.com, gshock.casio.com)
- A co-branded physical shoe has also been released with adidas, further merging the digital and real worlds. (Source: stepnofficial.medium.com)
- A collaborative NFT sneaker has been released with G-Shock, incorporating design elements of the G-SQUAD.
- Global Connections:
- STEPN GO aims to connect people all over the world, and through the app you can expect to join a global community. (Source: go-whitepaper.stepn.com)
- Easy onboarding:
- It is said that there will be a simple onboarding process to make it easy for beginners to join. (Source: collect.adidas.com)
With these features, STEPN GO will motivate you to continue exercising and bring new fun to your daily life.
Technical aspects
The fascinating experience of STEPN GO is supported by the latest blockchain technology. Here we will explain the core technical elements in an easy-to-understand manner.
NFTs and the use of blockchain
Sneakers are essential for playing STEPN GO.NFT (Non-Fungible Token)NFTs are issued as digital data that is issued and traded on the blockchain and is extremely difficult to counterfeit or tamper with. Each one has its own unique value and no two are alike, so they can be considered "digital one-of-a-kind items."
In STEPN GO, by owning these NFT sneakers, you will be able to participate in the game for the first time and earn rewards for your exercise. Sneakers come in a variety of types and abilities, and you can enjoy collecting and customizing them.
Supported Blockchain
Polygon Chain
smart contract
smart contractA smart contract is a program that automatically executes contractual provisions when certain conditions are met on the blockchain. In STEPN GO, various in-game processes, such as issuing NFT sneakers, transactions between users, and distribution of rewards, are believed to be executed transparently and fairly by smart contracts.
For example, when the app detects that a user has walked a certain distance, the smart contract automatically sends reward tokens to the user's wallet (a digital wallet that stores virtual currency). This allows for highly reliable transactions without the intervention of an operator.
Use of virtual currencies
In STEPN GO, cryptocurrencies are used for in-game activities and rewards. In the previous game, STEPN, the utility token GST (Green Satoshi Token) and the governance tokenGMT (Green Metaverse Token)played a central role. STEPN GO will also build a similar GGT token economy.
Game Token: GGT (Go Game Token):This is the primary reward token that can be earned by performing physical activities such as walking, jogging, running, etc. Its primary use is for in-game activities such as leveling up your sneakers, repairing your sneakers durability, minting new sneakers (to be used as another component or to speed up the process), and other utility functions.
According to Reddit community sources, it will take around 5000 GMT for the game to launch (this is an early user estimate and subject to change). (Source: Reddit r/StepN) These tokens can be used to repair and level up sneakers, mint new sneakers, and in the future, they can also be exchanged for other cryptocurrencies or fiat currencies on external exchanges (subject to market conditions).
The latest price information and market trends can be found on information sites such as Coinbase. (Source: Coinbase)
How to start the game
The steps to get started with STEPN GO are relatively simple. Here are the general steps:
- Download the app:
- First, download the STEPN GO app onto your smartphone. The app is available on the Google Play Store and the Apple App Store. (Source: Google Play, App Store)
- Account creation and wallet setup:
- Create an account within the app and set up a wallet to store your cryptocurrency and NFT sneakers. Often, the app will provide you with a wallet that you can easily create within the app.
- Get your NFT sneakers:
- To play the game, you will need NFT sneakers, which you can acquire in a few different ways.
- Official draws and events: The official website (stepngo.com) is announcing an "Alpha Prize Raffle" where you'll have the chance to win the first sneakers.
- Marketplace purchases: On NFT marketplaces like MOOAR (mooar.com), you can buy sneakers listed by other users.
- Loan from a friend: In the future, you'll be able to use "The Haus" feature to borrow sneakers from a friend to get started.
- Sneakers have a price and may require an initial investment. As mentioned above, there was information on Reddit that the initial cost is about 5000 GMT (varies depending on the price of GMT), so it's a good idea to be prepared to some extent.
- To play the game, you will need NFT sneakers, which you can acquire in a few different ways.
🎁 We are currently giving out gift bags to 10 people only!
・Trial sneakers
・Energy⚡6 given
- Put on your sneakers and get moving:
- Simply equip your sneakers in the app, turn on the GPS and go outside for a walk, jog or run.
- Choosing the right sneakers for the type of exercise you're doing (walking, jogging, running) can help you reap the rewards more efficiently.
- Earning and Using Rewards:
- You can earn in-game currency (tokens) depending on how much you exercise.
- The tokens you earn can be used to repair and level up your sneakers, mint new ones, and more.
Before you begin, be sure to check the latest information on the official website or official community, and proceed at your own risk.
Reputation and reviews
Although STEPN GO is still a new project, it has attracted a lot of attention due to the success of its predecessor STEPN and collaborations with well-known brands.
Players' opinions (expectations)
- App Store Rating:
- It has received relatively positive reviews since its release, with an average rating of 4.3 on the Google Play Store and 4.8 on the Apple App Store (based on 102 reviews). (Source: Google Play, App Store) This may be a reflection of the ease of use of the user interface and the expectations placed on the Move-to-Earn concept.
- Social media excitement:
- Every time new collaborations or updates are announced on X’s official Twitter account (@Stepnofficial) or Instagram (@stepncom), many comments of anticipation are posted. In particular, the collaborations with adidas and G-Shock have been a big topic of conversation.
- STEPN GO also has a YouTube channel (STEPN GO Official) where information is disseminated through content.
- Expectations for new features:
- In particular, social features like "The Haus" are expected to revitalize the community and lower the barrier to entry for new users.
Critical opinions (concerns)
On the other hand, as with GameFi projects in general, there are some concerns.
- Initial cost:
- Purchasing NFT sneakers requires an initial investment. According to the Reddit information mentioned above, startup costs are said to be around 5000 GMT, which is by no means a cheap amount. (Source: Reddit r/StepN) This initial cost could be a hurdle to entry.
- Token price fluctuation risk:
- The value of the rewards and sneakers you can earn is significantly affected by fluctuations in the cryptocurrency market. During times of market instability, there is a risk that your investment may be lost.
- sustainability:
- The sustainability of the Move-to-Earn model is always a topic of debate. The key to the success of the project is whether it can maintain a stable ecosystem in the long term. It will be interesting to see what kind of economic model STEPN GO will build and maintain.
- Transparency and accuracy of information:
- As this is a new project, there may be some confusion or unconfirmed information circulating. It is important to get accurate information from cryptocurrency-related media such as CCN.com and the official whitepaper (go-whitepaper.stepn.com).
It is necessary to understand these points and make a careful decision.
Q&A section
We have compiled a list of frequently asked questions and answers about STEPN GO and GameFi.
- Q1: What is blockchain? It seems difficult...
- A1: Block chainIt is a technology that organizes transaction records into units called "blocks" and connects them like a chain to manage them. Since data is recorded in a distributed manner, it is very difficult to tamper with and has a high level of transparency. In STEPN GO, ownership of NFT sneakers and transaction records are safely recorded on the blockchain. It may be easier to imagine if you think of it as a kind of "digital registry."
- Q2: How do I use the virtual currency (tokens) I earn in the game?
- A2: The specific uses of the in-game currency (tokens) that can be earned in STEPN GO will likely be revealed in future announcements, but generally speaking, they can be used for the following purposes:
- Sneaker Enhancements: Use them to level up your Sneakers or improve certain stats (e.g. efficiency, durability).
- Sneaker Repairs: As you exercise, your sneakers will wear out and you'll need tokens to repair them.
- Mint new sneakers (generic): Used to combine multiple sneakers to create a new sneaker.
- Payment of fees: It may be used as a fee for certain actions in the game (e.g. trading NFTs).
- Buying and selling on external exchanges: If the tokens you have acquired are listed on major cryptocurrency exchanges, you will be able to exchange them for other cryptocurrencies (such as Bitcoin and Ethereum) or ultimately for legal tender such as the Japanese yen. (*Depending on market conditions and the response of the exchange)
- Q3: How do you trade NFT sneakers?
- A3: NFT sneakers can be bought and sold with other users through the NFT marketplace. NFTs related to STEPN GO can be purchased and sold through the NFT marketplace "MOOAR" (mooar.com) and other sites.
The general flow of a transaction is as follows:- Visit the NFT marketplace and connect your wallet.
- If you want to sell, you can select an NFT sneaker you own, set a price, and list it.
- If you want to buy a pair, you search for sneakers on the marketplace, check the price and performance, and then purchase them. To purchase, you will need the cryptocurrency specified by the marketplace (e.g. GMT, SOL, ETH, etc.).
- Once the transaction is completed, ownership of the NFT sneakers is transferred on the blockchain and payment is made.
Please note that NFT transactions may incur gas fees (blockchain transaction fees).
Developer Information
What kind of organization develops and operates STEPN GO?
- Developer:
- STEPN GO is the developer of the hit move-to-earn app "STEPN"Find Satoshi Lab (FSL) (Source: collect.adidas.com – “STEPN GO is a brand new FSL Product”) FSL is known as a team with a track record and high technical capabilities in the Web3 field.
- Technical partners/collaborations:
- adidas: Global sporting goods manufacturer. Developing NFT sneakers and physical shoes in collaboration with STEPN GO. (Source: collect.adidas.com, stepnofficial.medium.com)
- CASIO G-Shock: Casio Computer, a brand famous for its shock-resistant watches, has announced a collaboration with STEPN GO on NFT sneakers. (Source: gshock.casio.com)
- SoSoValueCrypto: A cryptocurrency data analysis platform using AI. A partnership with the STEPN GO team has been announced. (Source: X @Stepnofficial)
- Argentina Football Association (AFA): They also partnered with the Argentine Football Association to release a special Genesis sneaker. (Source: X @Stepnofficial)
- Roadmap:
- STEPN GO will evolve through various stages. In the initial stage, it will focus on its outdoor lifestyle app functionality. (Source: Google Play description – “STEPN GO will evolve through various stages. During the first stage,…”)
- For a detailed long-term roadmap, please check the official website and the white paper (go-whitepaper.stepn.com), which will be updated from time to time. Based on past developments of STEPN, we expect to see gradual addition of new features and an expansion of the ecosystem.
Summary / Summary
"STEPN GO" is a notable GameFi project that proposes a new lifestyle by combining gaming and economic incentives with the everyday act of exercise. It has the potential to further develop the "Move-to-Earn" concept and to expose more people to the world of Web3 through social features and collaborations with major brands.
Although there are some points to note, such as the initial investment required for NFT sneakers and the risk of cryptocurrency price fluctuations, the appeal of being able to have a new experience while improving your health is great. We will be keeping an eye on future developments to see how innovative features like "The Haus" will expand the community.
First, check the latest information on the official website or social media, and if you are interested, why not take a peek into the world of "STEPN GO" within your limits? This new form of fitness may enrich your daily life.
Disclaimer: This article is for informational purposes only and does not recommend investing in any specific financial product. Investing in cryptocurrencies and NFTs involves the risk of price fluctuations. Any investment decisions should be made at your own risk (DYOR – Do Your Own Research).
Reference Articles & Related Links
- STEPN GO Official Site: https://stepngo.com/
- STEPN GO White Paper: https://go-whitepaper.stepn.com/
- STEPN GO Official X (formerly Twitter): https://x.com/Stepnofficial