Stepn (GMT) – More than just Move to Earn

GameFi is the word used to refer to the application of Gaming mechanics to DeFi. The beginning is a trend Play to Earn with Axie Infinity rocked not only the Crypto community, but actually saved the lives of many unemployed people.

However, precisely because of the growth rate of Axie Infinity so terrible, so many Play to Earn projects are launched just to follow the trend. According to playtoearn.net, there are currently over 1,000 projects working in the Gaming field, but of which only a few are noticed by the community. Below are statistics about the number of projects with Social Score over 1,000 at playtoearn.net, only about 50 projects met the target, that is… 5%.

The Social Score shows the community’s interest in the project. Based on the image above, it can be seen that the fragmentation in interest levels between games is very large. In the range of 3,001 – 4,000, there are two projects, Axie Infinity and The Sandbox. The rest all have Social Score less than 2 times. This shows that the community is hardly too interested in other projects besides Axie Infinity and The Sandbox. And that’s when Stepn was born.

Stepn – not just Move to Earn

The Stepn . phenomenon

Stepn is the “game” first known through Binance Launchpad in early March 2021. This “game” requires people to “play” by having to put on their shoes, go out for a run to “earn”, unlike all other projects that force users to hold their phones to play.

It seems that this is also a faded variant of Play to Earn. But no, Stepn has created a new wave, this is reflected in the token price after listing Binance. Within 14 days, the price was x8 from the bottom.

See more: Direction how to use STEPN to make money

New breeze in GameFi

It can be said that Stepn is also part of GameFi, because the project has gamified the image, the way it works, making running more interesting. Besides, Stepn is considered a pioneer in changing the token earning mechanism, instead of repeating the boring Play to Earn.

Looking at the picture above, it can be seen that in the past one month, the number of people has increased x4 from 1,000 to more than 4,000. Compared to games like Axie Infinity Thetan Arena, the number of players has reached tens or hundreds of millions, this number is quite small. But from the price data and the skyrocketing number of people, it can be seen that Stepn is really attracting the attention of many people.

Even, in order to serve users, on Dune Analytics, there are some parties that also provide data about Stepn, which is rare for any game that has received so much favor today.

Start the evolution of GameFi and also Crypto

In the early days, games were only playable, or sold NFT, for example CryptoKitty. But then users witnessed the combination tokenomics into the game, leading to Play to Earn.

But when Play to Earn was no longer interesting, Stepn was born to give birth to a new concept called Move to Earn. And given Stepn’s hype, it’s not surprising that a number of Move to Earn projects will follow. This is an unexpected move from GameFi. In the previous post about revive GameFi, I pointed out that GameFi had some problems, as well as suggested solutions. But I never thought that GameFi could turn to another branch.

It’s about GameFi.

As for Crypto, Stepn has shown the perfect combination of Crypto with the real world, specifically running. In the past, we used to dream about Crypto going to Mass Adoption, meaning financial applications would have Crypto. But few would expect that the combination of Crypto and everyday life comes from running. This helps users have a more sympathetic view of Crypto, compared to Pump Dump as people often say.

And if running can make money, it is possible that in the near future this Move to Earn branch will be developed more broadly in the sports segment, such as Lift to Earn (bodybuilding), Swim to Earn, Kick to Earn (soccer). ),… As long as there is a suitable tracking method, any sport can be brought in like Stepn.

Will Stepn decline like most current Play to Earn games?

A question that a lot of people ask is that the Play to Earn projects are not outstanding, only following Axie Infinity, all of which are “failing”. So will Stepn suffer the same fate when also launching a two-token model?

In my opinion, Stepn is not easy to defeat, at least in the near future. Because the reason to create a running trend with Stepn is because of Move to Earn. For a long time, running has become one of the basic, easy-to-contact sports, but the stress-relieving effect is not inferior to any other sport. Therefore, even without Stepn, the user is basically already jogging. With Stepn, running now generates additional income, so there is no reason for users to refuse Stepn.

In addition, Stepn stands out from other projects in that it forces users to go out to campaign. If you are working full-time in Crypto, you can see a limitation, that is, it is difficult for us to leave the screen. Because everything can change completely after only 5 minutes, you will turn into “ancient people”.

summary

Stepn is not only helping runners breathe air, but in my opinion, the project is also something more noble. It’s a piece of advice, that we don’t just live with BTC, ETH, … but the outside world. This I also talked about through a fictional story that I wrote myself, you can refer to it for more: Is Crypto Worth It All?

Talking about perception, many of you will think that Play to Earn games are similar to Stepn, but in fact playing games is also an action that is not popular with most users, especially parents. So Stepn is also a milestone, helping users have more positive thoughts about Crypto.

Those are my views on Stepn, what about you guys?