How to Buy STEPN GMT in 3 Simple Steps

Some of the exchanges that list the GMT token include Gate.io, MEXC Global, Binance, and Coinbase. Users’ GST earnings can be spent in the game to level up or can be cashed out for real money. The gamification features are bolstered by using mystery boxes, customization of the NFT shoes, and stratification into levels.

The app adds a game element, as users can randomly find and drop treasure boxes during their physical activity. With a move-to-earn consensus mechanism, STEPN aims to flip the script for exercise by combining Game Fi elements and Social-Fi for a healthier lifestyle. Its goals are to inspire millions to a healthier lifestyle, connect them to Web3, and combat climate change. With GameFi, STEPN aims to influence users toward a healthier lifestyle and carbon neutrality. A portion of profits will be used to buy Carbon Removal Credits to combat climate change through Nori Marketplace.

Step 2: Fund Your Account

For a long time, StepN’s popularity was growing — even despite a June 2022 cyber attack. At its peak, the app had more than 700,000 monthly active users, respectable numbers for such a young NFT project. As of September 2022 though, monthly active users dropped below 100,000. Further, the market cap of StepN’s native governance and value token sits at just over $25 million, down from $77.45 million at the start of the year. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.

Leveling up requires users to burn GST based on their current level, which places their sneaker NFT on a cooldown until leveled up. Of the initial supply, 30 percent of the GMT will be distributed to users through the game and governance participation and each day, a set number of GMT is unlocked to earn. So, we’ve looked at all the options that sneakers have in the STEPN game. They have balanced features, gem slots, and are relatively inexpensive. The payback period for this type of trainer is one and a half to two months.

This is one of the most challenging aspects of the game that requires you to be in optimal shape on every run. They call it Energy and you get a small amount for free every day, plus some from your sneakers. High-quality sneakers give a lot of Energy but there is a general cap of how much you can have each day.

To get started, you have to download the STEPN app, sign up, create a crypto wallet, and transfer SOL to your in-app wallet. Users equipped with NFT Sneakers – walk, jog or run outdoors to earn GST, which can be used to level up and mint new Sneakers. A player can choose to lease or sell their NFT Sneakers on the in-app marketplace; users’ GST earnings are stored in the in-app wallet, which has a built-in swap function.

How does Stepn work?

The more challenging the task, the more the rarity of the badge. Rare badges will offer the user extra ENERGY when playing in Solo Mode and lower minting costs for their sneaker NFTS. However, it seems like this activity stopped in the wake of the GST crash in May/June 2022.

Below we’ll show you how easy it is to get started with STEPN. There are also 4 gem slots in each sneaker, which are unlocked as the level of the sneaker increases. There are currently 4 different sneaker qualities available in the game.

• Its goals are to inspire millions to a healthier lifestyle, connect them to Web3, and combat climate change.
• Users will have to select GMT, a seller, and a payment method.
• This exchange, one of the oldest and most popular brokers globally, is especially suited for derivatives traders and sophisticated investors.
• STEPN explained how it has developed with a strong financial foundation.
• With a move-to-earn consensus mechanism, STEPN aims to flip the script for exercise by combining Game Fi elements and Social-Fi for a healthier lifestyle.

Then, each aspect of the sneaker might affect the rate of GST you can earn. Then, as previously mentioned, this will cost the user “energy”. Only users with sneakers above level 30 may choose whether to earn GST or GMT. But no matter your level, once you’re out of energy, the earning comes to a halt. STEPN is currently in a public beta phase and requires an activation code from someone already playing the game to finish account creation. The below instructions assume a user has an activation code and is ready to start using STEPN.

STEPN Sneaker NFT Attributes

At that Level, you’ll either continue earning GST or switch to GMT. GMT can be spent on a number of things, including renaming your sneakers, leveling them up, and redistributing attribute points. The app has made a name for itself in the gamified “X-to-earn” space in Web3, known as GameFi. Axie Infinity was one of the first NFT projects to use this model, where users increase their market value the more they engage with the blockchain-based game. Monetising Fitness.STEPN is one of the first innovations in the blockchain space to reward users for maintaining a healthier lifestyle.

The project started with a supply of 60 million GST, but the dev team says the roadmap plans for an unlimited amount of these tokens. Despite the ‘unlimited’ nature of the GST token issuance, the dev team state it doesn’t suffer from inflationary disadvantages. Typically, ‘sneaker boxes’ will sell for more than a standard sneaker. The uncertainty and risk involved with gambling on the unknown sneaker make the ‘mystery box’ so popular on the platform. They could open the mystery box to find a rare collectible sneaker or a standard one.

Finding and purchasing StepN NFT sneakers

However, bear in mind that only those who get their NFTs to level 30 may swap GMT with USDC. At present time, STEPN is in its public beta phase and requires an activation code to get started. If wishing to get beyond account registration, users will need to get an activation code from a friend or current user. If you are struggling to find an activation code, be sure to check the STEPN Discord, as they frequently give away additional codes for use. Users with at least one pair of sneakers to spare in their inventory could earn GST token rewards offline. In the background mode, the app would collect step counts from the health data of your mobile device.

While you need what is bitcoin rhodium to start earning, you don’t need to buy anything to start running. STEPN is a GPS-based game where the app tracks your movements and steps, similar to what your Fitbit does. This game requires you to literally move from place to place for any progression. The more you move, the more tokens you earn, and the more tokens you have, the higher chance you’d win valuable items. If you’re building a StepN NFT Sneaker collection, tracking your holdings is as important as planning your purchase. Once you’ve bought them, ensure they’re organized for easy reference.

Building a StepN NFT sneaker collection

Founded in 2014,Liquidis one of the world’s largest cryptocurrency-fiat exchange platforms serving millions of customers worldwide. We’re not, however, the biggest fan of the time gating mechanics. If you want to keep players interested, you need to allow them to play more.

You will need to enter the verification code sent to your email to get verified and start trading. Background mode allows you even to earn GST while the STEPN app is turned off. All you need is one pair of Sneakers in your wallet to be eligible for this feature. The app will then pull your step count directly from your device’s Health Data. The project is the first sports app built on Solana, a Proof-of-Stake blockchain that processes over 700,000 transactions per second in an energy-efficient manner. How to buy STEPN might be at the top of your priorities given the buzz around the asset in recent days.

Connect your digital wallet that supports Ethereum-based tokens, such as MetaMask or MyEtherWallet, to your CoinStats account. If you think you can easily earn using STEPN and cash out, you are in for disappointment. Apart from its intricate move-to-earn mechanics, STEPN has several anti-cheating systems in place.

If you want to earn from the STEPN move-to-earn app, then you would need sneakers. However, you can start running or jogging without any investments, as you can go for a free trial and test the features of the game. You can find a distinct meter to monitor the growth in earnings, and it would fill up as you run with STEPN footwear. Here is a description of the individual modes supported on the STEPN move-to-earn NFT sneakers game. In addition, the marketplace also features a simple filter and sort tool, which ensures flexible and faster navigation. Once you have the NFT sneaker ready, you can earn GST utility token rewards by running or walking outside.

You can also buy them on Binance — in fact, in 2022, ASICS paired with StepN to produce a limited edition NFT sneaker set for sale on the platform. Before you start moving, you’ll have to choose a digital sneaker that matches your planned activity level. If your speed exceeds or falls below the activity range of your selected sneaker, you’ll stop earning tokens, so choose your shoes carefully. Much like the regular fitness apps in the market, STEPN tracks your daily activity, be it running, jogging, or walking.

New users of the STEPN app can earn GST as rewards for exercising, provided they have the ‘ENERGY’ to do so, provided by their sneaker NFT. The app encourages the user to move within the range stipulated for your sneaker. For instance, in the runner mode, you’ll need to travel within 8 to 20km/h to earn GST tokens.

Once you have a STEPN activation code you can move to the next step. The firststep in your STEPN journey is downloading the app on your mobile device. The application is currently available for both iOS and Android devices via the Apple App and Google Play Stores, respectively.

• The STEPN app is a step counter with interesting added features for an enhanced user experience.
• StepN utilizes a two-token model like Axie Infinity, Crypto Raiders, and other play-to-earn games.
• With integrated payment solutions, Uphold paves the way for universal access to financial services.
• It is recommended best practice that users generating this 12-word secret recovery phrase write it down offline, and store it in a secure location.
• According to StepN’s whitepaper, this also offers the non-Web3-initiated an easy path to the complex and messy world of crypto and NFTs.

With integrated payment https://cryptolisting.org/utions, Uphold paves the way for universal access to financial services. This is the game’s way of breeding and can only be done with more developed sneakers . If you have higher Energy and a higher Luck score on your sneaker, you have a higher chance of getting something called a Mystery Box at the end of a run. These boxes contain gems that add features to your sneakers, like increased Efficiency.

To earn GMT, users must own sneaker NFTs that are at level 30. For every minute of movement detected, STEPN will pay out in-game tokens. To do so, at the home screen of the STEPN application, choose the sneaker NFT you’d like to utilize for your movement. If you have previously created a Phantom Wallet, the most popular Solana-compatible web3 wallet, you can choose to import your existing wallet within the STEPN application.

One GST is worth just over $2.50 and one SOL hovers around the $90 mark. There’s also a governance token, GMT, which is worth more than GST and used in endgame content. Depending on the type of sneakers you use, you have the option of earning GST or GMT. In this case, the game went live on the Solana blockchain, an increasingly competitive cryptocurrency. You can use SOL to purchase any STEPN products on its marketplace, but the game itself uses Green Satoshi Tokens and this is what you’ll be earning.

To get started, all you have to do is purchase an NFT sneaker from its marketplace and switch your GPS on, so the dapp can track the distance you have covered. Step-by-step guide on how to buy STEPN sneakers – Step 5Now that you’ve learned how to buy STEPN sneakers and actually acquire your first shoe, it’s time to get moving. Because STEPN is an application built on the Solana blockchain, it requires a web3 wallet that is compatible with Solana. Fortunately, there are multiple options for those who have experience with cryptocurrencies and those without.