STEPN is a move-to-earn web3 game that lets users earn rewards and NTFs by moving outdoors. Even though the concept is more about marketing, the game is still pretty groundbreaking.
It is built on Solana, a blockchain that supports smart contracts for building decentralized applications. So the project combines blockchains, NFTs, geo-tracking, lifestyle, and gamified investing
The first thing to know is that in order to play the game, you have to invest in STEPN sneakers. New sneakers may cost around 12-13 SOL in the app, so they will set you back over 400 bucks, but you can get used ones on eBay. OK not really. But sometimes you can buy STEPN sneakers for much less, so do your research.
The most interesting thing about STEPN is the technology it uses. Even though the creators of the project did it more for entertainment rather than really improving the world — and to make a few Solanas in the process. But the kind of technology that one day could be used for some kind of communist food-delivery / Uber / AirBnb project. Who knows.
Even though perhaps now is not the best time to invest in STEPN, if you were considering buying Solana on the dip, this may be a good time.
In hindsight, the best time for a STEPN investment, and for that matter, to play the game was from March to April. The game launched in March and the GMT price went up from $0.10 to $3.
One reason to invest in STEPN now is exactly because the price is down, so the earnings you make from the app can potentially go up in price and bring you more during the next bull run. But this is not investment advice.
Perhaps the best way to invest in STEPN is to invest as little of your money as you can and by mining the rest with your legs. If you’re asking, “where can I invest in STEPN?” you can buy GMT tokens on Binance and other major exchanges, but you can also use Solana in the app, so it’s actually not hard to get. The in-app wallet lets you convert between SOL, GMT, and GST.
The only thing is you need an invite from someone who uses the app.
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Should you invest in STEPN today? Is it a good idea to think about crypto now? Have you already built a balanced portfolio with stocks, ETFs, and TTFs? But if walking more sounds like your personal goal, why not try it? Just try to buy sneakers for less. And if STEPN does recover it may as well be a good time to invest in GMT if it does grow back.
Explore the other sections of our website to discover smarter ideas than investing in STEPN. Find out how to buy stocks and other assets, where to buy, how much to invest, and much more. If you’re asking yourself should I invest in stocks, crypto or something else, to check an asset’s price today or when is the time to buy or sell, install Gainy to get personalized investment recommendations.