Following the rise in popularity of blockchain-based gaming, STEPN is one of the first applications to make use of the blockchain and NFTs to encourage a healthy lifestyle and exercise. Chiliz News has launched a new report that explains how STEPN works, and what users can expect from the application in the future.
To read the full report on STEPN and its competitors, please visit https://chiliznews.com/stepn-crypto-guide-2022-what-is-it-how-much-can-users-earn-competitors-risks-is-gmt-price-sustainable
Based on the Solana blockchain, STEPN uses a dual-token model that includes Green Satoshi Tokens (GST) and Green Metaverse Tokens (GMT) as well as a selection of NFT sneakers. The new report discusses the purpose of each token, its future potential, and how players can use them to upgrade their NFT sneakers.
STEPN allows users to compete with themselves, friends, or other players around the world through a variety of game modes. Players can use their existing activity trackers, such as smartwatches or FitBits, or even their mobile devices, to track how much they walk, jog, or run outdoors each day.
With more than 223,000 users today, STEPN is a clear leader in blockchain-based fitness applications, and its Green Metaverse Token is currently worth more than 20x the value of all its competitors combined, according to the report. The NFT sneakers required to take part in the game are currently available in the OpenSea marketplace.
The report examines several potential competitors to STEPN, including Dotmoovs, Calo, and STEP. While each platform has advantages and disadvantages, STEPN remains the most popular.
While blockchain-based fitness apps have seen a surge in users recently, the report also examines the risks associated with them. It explains that these apps are still relatively new, and experts are unsure of whether they will be sustainable in the long-term, for several reasons.
The unique token mechanics being used for STEPN and similar applications have not been proven effective for long periods of time, and there are some concerns about saturation if the SocialFi game becomes even more widely used. Fitness-based gaming has obvious benefits for the players, but which applications will become the new normal, and which will fade away, is still in question.
To read the full report, or to find more news about blockchain-based fitness apps and cryptocurrency, please visit https://chiliznews.com
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