There are not many gameFi sports games so we decide to review one of the most popular right now. Probably second best at the moment after SORARE if we can compare those two at all. SORARE is connected to football leagues so probably will fall down a bit during the summer and STEPN is growing rapidly.
What is STEPN?
STEPN is a Solanium blockchain-based NFT game app focused on a healthy lifestyle, with Game-Fi elements. The Player purchases an NFT token in the form of a trainer and can then earn in-game currency by running and walking. Cryptocurrency can be sold and a player/runner can make a significant profit.
STEPN is the first Web3 NFT game that requires you to literally move from place to place for any progression. The more you move, the more you earn. So it is play to earn game or a move to earn game. STEPN is now one of the most popular NFT games. The GMT control gameFi token is priced at 2.18 $ with total earnings from the game passing 1 billion $ recently.
How to start STEPN?
To start the mentioned gamefi sports game you have to install the app on your smartphone. The app is available on both App Store and Google Play. After launching the app, you will need to enter your email address, to which you will receive a registration confirmation code. After successful confirmation, you need to obtain an application activation code. To obtain the activation code, register in the STEPN community. Once you obtain the activation code, the main application screen will open.
Create a GameFi wallet
Then you need to create a crypto wallet in the app or you can use your own wallet. We made step by step tutorial on how to do it here. To start the game, you need to deposit SOL tokens into your crypto wallet. So, now you are ready to buy your first snickers. But that is not enough to start earning. To start earning cryptocurrency, a player needs to obtain an activation code. These codes are in short supply.
The developers have introduced the activation code system for two reasons:
- To balance in-game economy. This is a great move for every play to earn game. The economy can be volatile and fragile, especially at the start. By controlling a number of players developers have a better chance to protect the price of gameFi token.
- Limiting the number of activation codes for registration is an excellent marketing trick that contributes to the growing popularity and creates a Fear Of Missing Out effect. FOMO effect makes more people want to join the game.
More STEPN shenanigans
Every day, the developers of STEPN post 1,000 activation codes on the official Discord server, and 1,000 codes in the Telegram group. The difficult part is that the codes are posted in small portions. Whoever enters the code first gets to use it. It is challenging and it will take more than one try to get a code. An easier way is if you have a friend that already plays a game – he or she can pass the code to you. Or you can choose to buy it in the “black market”. But that method is risky and we don’t recommend it.
Start earning
To start earning, you need to purchase a pair of virtual sneakers. These are minted NFTs so when you own them you can choose to earn by running or resell them on the in-game market. Each pair of sneakers has its own stats and rarity. The stats determine how long you can run without needing to recharge. They can also grant you a speed bonus so you can earn more GST while running. The price of the virtual snicker varies from 300$ to 1200$. The price depends on mentioned stats. But, since it’s a free in-game market owner can set whatever price he wants. Because of mentioned, you can buy great stats NFTs for a low price or snickers with low stats expensively.
And now all you have to do is run. But, there is a cap to how much you can run with the app each day, meaning there’s a limit to your earnings. They call it Energy and you get a small amount for free every day, plus some from your sneakers. High-quality sneakers give a lot of energy but there is a general cap on how much you can have each day. This amount translates to 100 minutes of running.
You can continue to run even after your Energy has run out, but the earning meter will stop until the next day. There’s also a speed meter that you need to keep up with in order to stay earning. This is one of the most challenging aspects of the game that requires you to be in optimal shape on every run.
GameFi sports games review – final thoughts on STEPN
Despite many obstacles to starting the game, this is actually an amazing project. You can tell it by the earnings from the game and the hype around the game. And it’s unique in gameFi world. Its also worth mentioning that STEPN collaborate with major sports shoe manufacturer Asics.
However, the return of investment in less than a month reminds me of Pegaxy, Crabada, and many similar projects. Mentioned projects were profitable for early investors and at their peak. Yet there are many players who actually lost their investments. Or at least a large portion of it. In my opinion golden era of STEPN is slowly passing and I wouldn’t recommend starting it now. However, I am not a financial adviser and you should do your own research and due diligence before investing.
The good thing about the game is it uniqueness and health aspect of it. I hope to see similar, or even better, gameFi projects in the future.
P.S. If you want another GameFi sports games review write in a comments. Sorare maybe?
