Pros & Cons Of Investing In StepN Move-To-Earn NFT Shoes

Hey friends, I am back again with more details about the StepN Move-To-Earn platform. I have spent days contemplating and watching their social media space. I have also been investing in their governance token GMT. But then, I really wanted to get the NFT shoes.

If you are reading my blog about the StepN Platform for the first time, just stick around and I will explain what they are to you. You know how the world is going sedentary right, everyone is working from home and finding it difficult to move out. You can literally make millions of dollars sitting in front of your computer and mobile phone. I am a pure example of someone with a sedentary lifestyle. Stuck one place while hustling online, this can affect your health in different ways, the new way to get people to leave their chair and work out or move around is by incentivizing the activity of moving around.

StepN is the name of the app, you can download it on App Store or play store, register and set up your wallet on the app. It’s an app that lets you earn anytime you move. Moving involves running, jogging or walking or walking your dog. But before you can earn while doing any of these movement you need to have the one thing you need to wear to do all these things, which is a shoe. On StepN you have to buy the NFT shoe before you can earn from moving around.

When I heard about this platform and checked the price of the NFT shoe, it was worth 9 SOL, which was approximately $1,017. That was really expensive so I decided to ask questions and get an idea from real users of the NFT shoes. Before investing on the NFT shoe, you should know that the platform is very new, the app was launched in January 2022. This means that it’s in its early stage, so expect yield to be high to attract more users. Some of the users who bought the NFT shoes claimed that it took them less than a month to make back the money they invested after buying the NFT shoe worth $1,000, some claimed it took them 3 months.

The team behind the project is doing a lot in trying to get massive users since their aim is to promote healthy activity while earning as well. They have been events organized by the team to promote exercising, this involves a large number of StepN users coming together to walk and earn, thereby encouraging people to walk more. This is expected to reduce the carbon foot print and promote greener ways to move without using fuel burning vehicles.

But if you are investing on StepN solely because you want to make money, you should know that you can not move all day on StepN and earn. Every shoe has daily energy that gets exhausted, to increase your energy, you need to have more shoes. More shoes means more energy to walk which means more earning. Most people claim that buying the least shoe which cost the lowest, yields $25 dollars daily for them. But you need to repair the shoe after a while with the GST native token. You earn in GST while walking which can be converted to USDC, SOL and sold in the open market.

When the platform starts getting more users, the team might find it difficult to keep up with the high rewards thereby decreasing the reward rate. This will reduce the rate people earn, being there to catch fun with your NFT shoes and seeing the rewards as incentives is the goal.

Posted Using LeoFinance ^Beta