TEPN is a Web3 lifestyle app with inbuilt Game-Fi and Social-Fi elements.
What is STEPN?
STEPN is the first move2earn mobile NFT game powered by Solana where players can walk, jog or run outdoors with an NFT Sneaker to earn tokens. STEPN aims to inspire millions to engage in healthier lifestyles by bringing them into the Web 3.0 world while contributing positively to carbon neutrality.
To get started with the move-to-earn app, users have to deposit Solana’s native SOL token in STEPN’s in-app wallet, buy a sneaker NFT from its in-app marketplace, and wait for 24 hours for “energy” replenishment. Energy is how many minutes a user gets for exercising with a sneaker NFT, said Rong.
The StepN team is looking to take advantage of fitness and the incredible social atmosphere behind the phenomena. There are millions of fitness freaks in the world who work with countless apps and programs. What StepN is building will tap into the social and community elements to revolutionize how blockchain technology is used for earning.
“When we were deciding to do a product, we thought that running and walking is basically something that almost anyone can do. If we can convert this to a move-to-earn or rent-to-earn, then we could effectively reach everyone,” explained Kwong.
The unique Move-to-Earn concept is something Kwong and his team believes can help onboard myriad new users to crypto. Kwong acknowledges the difficulties of initial entry but believes that users will flock to his app once these barriers are assuaged. But the Move-to-Earn will not be the only concept that brings users to the app––in fact, Kwong thinks it will be secondary.
What is the unique selling point?
Winner of Solana Hackathon
STEPN is the winner of Solana Ignition Hackathon Gaming Track. It is also the only mobile game to win the Hackathon. Through an easy-to-use interface, built-in Marketplace and Wallet, STEPN’s game design, and the objective to nudge millions of non-Crypto people to use this app has won the Hackathon judges’ approval.
Notable Angel investors including Santiago R Santos and Asia Partner of Republic Zhen Cao also participated in the round. The proceeds will support STEPN’s mission to inspire millions to engage in healthier lifestyles, connecting them to the Web3, and contributing positively to Carbon Neutrality.
Marketplace and Leaderboard coming up in Jan 2022
Closing on the strategic round fundraising, STEPN aims to release its first patch update (Marketplace and Leaderboard) and investor detail in the middle of Jan. 2022. We are currently supported by several top-tier Venture Capitals from both the Web 2.0 and Web 3.0 realm, providing us with the capability to reach out not only to a Crypto native crowd but also to a much broader audience.
The application has 3 modes for users to freely participate and earn money: Solo, Marathon, and Background Mode.
Solo Mode: In solo mode, users can earn tokens by moving. Their income depends on two things: their level of physical activity and the rarity/attribute of the Sneakers they own.
Marathon Mode: There are weekly and monthly Marathon competitions and users need to register for each race separately 24 hours before starting the online Marathon.
Background Mode: Users can earn GST even without the app and repair costs with at least one pair of sneakers in their inventory. When the STEPN app is turned off, Background Mode pulls the step count directly from the mobile device’s Health Data. Steps achieved in Background Mode (walking, jogging, or jogging) will not reduce the Endurance of the sneakers.
We found 4 people related to gmt-green-metaverse-token, include CO-FOUNDER Jerry Huang
We found 10 organizations related to STEPN has DeFi Alliance, Sfermion, Spark Digital Capital, Corner Ventures, 6th Man Ventures, Sequoia Capital China, Folius Ventures , Solana Foundation, Lemniscap, Alameda Research