Unless you have lived on another planet in the past few weeks, you have all heard about move-to-earn (m2e) apps, and particularly about Stepn. If you have already tried it, you know that buying a pair of sneakers is quite expensive, and you are wondering if it is worth it. Let's compare Stepn with others.
First app: Stepn
- Stepn launched 2 tokens - on Solana - GMT and GST. You do not need GMT to use it. GMT is the governance token, it allows to vote for changing the rules. Therefore, it makes sense to buy it if you have enough cash to change the rules, or if you bet on the fact that new investors will buy it to change the rules, which could pump the price further. That's a risky bet.
- GST is the token you earn by running or walking. But to earn it, you need to buy sneakers. At which price, that's the question: as of now, the minimum price for a runner or walker is 13.2 SOL, and it is 16.5 SOL for a trainer. Wait a minute... Does it mean you send them like 13+ SOL ($700+) just to have the right to earn GST by running? How many GST can you earn at the beginning? The answer is 10 (2 energy per day x 5 GST per energy), which is worth $30. So, basically, it means you spend $700+ to earn $30 per day... In theory it would pay back after 24 days, which would really be cool, but in reality you need to spend a significant portion of your GST to restore your shoes which are getting used. Furthermore, the GST price might decrease with the time since there is no max supply, and hence your rewards will decrease too. Last but not least, you probably think that when you want to stop you can just sell your sneakers. That's right, but you do not know what the price of your sneakers will be in one or two months, once the hype has passed, especially with all the competitors of Stepn turning around. Let's have a look at these competitors.
Second app: Step App
- Step App launched 2 tokens - on Avalanche - FITFI and KCAL. To keep it simple, FITFI is similar to Stepn's GMT, and KCAL to the GST.
- KCAL allows to buy some sneaks (instead of sneakers). It is one of the differences with Stepn. We can expect the Step App's sneaks will be cheaper than Stepn's sneakers, at least at the beginning. Furthermore, as an early adopter, you can earn FAT points which can be converted to KCAL by burning FITFI. Please click on this link to earn FAT points.
Third app: Step
- Step launched launched 1 token - on Binance Chain - STEP. There are no sneakers, but you need to buy a minimum amount of STEP to earn BNB by running or walking.
- You need to buy at least 18000 STEP (~$180) to start earning up to 0.1 BNB per day, i.e., around $30 per day. Therefore, the pay back would be similar to Stepn. However, it would be worth checking how the rewards are calculated, how it is going to evolve and what the risks are.
Although all these m2e apps look attractive today, it might evolve with the time. Therefore, only the most successul ones will survive. Stepn has the first mover advantage, but Step App seems to be a credible competitor. If you want to take some risks, buying sneakers on Stepn will make sense, provided that you have a real strategy. If you want to take less risks but still wish to participate in this m2e hype, then you can sign up on Step App to earn FAT.
Below a few referral links to earn free coins:
