CoinEx Institute | STEPN: A great example of gamification Web 3.0 application

What is STEPN?

STEPN is a Move2Earn Web3.0 lifestyle application, with inbuilt gamefi and socialfi elements. It currently runs on Solana blockchain. The concept of Move2Earn could be interpreted as follows:

  • How to move? The formats of movement include walking, jogging or running outdoors. Before starting to move, users should download STEPN mobile application, sign up an account, import or create Solana wallet, and purchase or transfer-in Snearker NFTs. Without one Sneaker NFT, movement will be noneffective.
  • What to earn? By moving, users will earn crypto-assets, like game currencies and NFTs, which can either be used or sold for profits. More extensively, users may also “earn health” since the move2earn mechanism will incentivize users to move outdoors, and “earn honor” since users could show-off their achievements like badges earned by completing tasks and special Sneakers obtained from special quests.
  • How to earn more? It depends on physical effort and efficient strategies. Every user will be able to conclude suitable strategies if they are willing to spend times in studying the comprehensive and complicated economic mechanisms of gamefi. The following part will also give you a basic understanding of STEPN design.

What is the design of STEPN?

1. Crypto Assets

What have been achieved and will be next?

The STEPN project started in August 2021. In the fourth quarter of last year, it witnessed team building, Anti-Cheating System test, Solana Hackathon victory, community event, public beta, and marketing kickoff. Q1 2022 saw the introduction of in-app trading function and marketplace, and the completion of GMT IEO on Binance Launchpad. By late March 2022, it gains great visibility in Japan, China, France, India and Russia according discord user data.

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