Following the success of play-to-earn gaming, a new trend has emerged that rewards users for living a healthy lifestyle and getting regular exercise. How move-to-earn platforms work, their long-term sustainability and the earning potential for users are all explained in this new report launched by Chiliz News and Digital Shoutout, LLC.
To read the full report on STEPN and move-to-earn lifestyle apps, please visit https://chiliznews.com/stepn-crypto-guide-2022-what-is-it-how-much-can-users-earn-competitors-risks-is-gmt-price-sustainable
To become a member of the STEPN move-to-earn platform, users first have to buy into the program by purchasing an NFT sneaker, with different tiers of sneaker NFTs offering different levels of earning potential. The new report explains that the program already has over 223,000 members, though the platform is still in the Beta testing phase.
STEPN uses a dual token model with a limited supply of governance tokens (GMT), an unlimited supply of utility tokens (GST), and a built-in token burning mechanic that helps to limit the total amount of GST in circulation. The report analyzes the recent increases in the value of STEPN tokens, with an eye to long-term sustainability.
Using the sneaker NFT strategy, STEPN has quickly overtaken its competitors to become the largest move-to-earn platform in market capitalization. The platform is expected to continue growing over at least the next several months, after recently having its collection of sneaker NFTs made available on the OpenSea marketplace.
The report includes a comparison of several popular alternatives to STEPN, including one of the original exercise-related cryptocurrencies, Sweatcoin. While the STEPN platform requires users to buy an NFT before earning rewards, the report also mentions some no-cost options, such as Genepets.
How much users can earn is also examined, with several methods for generating revenue using the NFT sneakers. While the average user generates approximately $20 per day, the report explains that members with premium-tier sneakers can earn hundreds of dollars daily, or rent their sneakers out to other users.
Chiliz News is a popular online source for the latest updates on sports NFTs, crypto fan tokens, and other cryptocurrency-related news. The site regularly produces in-depth reports on recent developments in play-to-earn gaming and other Web3 applications.
For the most recent information about sports NFTs or move-to-earn platforms, please visit https://chiliznews.com
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
Digital Shoutout, LLC
Digital Shoutout, LLC
5570 FM 423
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No PITCH SCOOP journalist was involved in the writing and production of this article.