‘Movetoearn’ Solana app Steph is latest crypto gaming craze
StepN is a mobile game that allows players to walk and run to earn points. Users can also buy virtual items using real money.
That number is nowhere close to 100 million players enjoyed by popular web 2 games, but in the world crypto, it’s a meaningful breakthrough for a 5 month old app. As of May 21st, the market cap of stepn’s native token GMT stands at around $860 million, founded by Huang and his co founder Rong in Adelaide, australia, stepn debuted at a solana hackathon in october, after coming in 4th, its exposure at the eevent helped land its first batch beta users. When it finally launched two months later, word about the app that lets one earn by staying fit was already spreading within the blockchain community. without any splashy ad campaign scores of users signed up, when it officially launched two months ago, words about the app were already spreading within the blockchain comunity. without any splashy ads scores of users signed up
In weeks, StepN grew so fast that the team had to cap the number of new registrations each day. Now, tens of thousand new users join the app every day, according to Huang and Rong. The founders spoke to more than 100 investors and revised their presentation over 40 times before closing $5 million seed round in November.
“The fast-growing app appears self-sustainable for the moment. It’s generated $3-5 million a day in net profits from trading fees, and earns up to $100 million per month. In April, the company picked up another round of funding from Binance.”
Is it a game?
StepN is an online game based on blockchain technology. Players earn points by walking around the city. The more you walk, the more points you get. You can also buy shoes with real money. These shoes are NFTs. They can be sold after use. But the cost is too high for most players.
StepN is a very profitable game. Users can earn money by selling their products or services. The more you sell, the higher your earnings. You can also make money by buying and selling other players’ products.
GameFi is an app that lets you play free online games without having to download anything. You’ll be able to play games like Plants vs. Zombie, Angry Birds, Candy Crush Saga, and many more. However, there are also other types of games available. Some of these include puzzle games, sports games, action games, and even adventure games.
Many new users are blindly chasing triple-A games. But if they were already successful in web 2, why would they be interested in web 3? Some simple looking games aren’t that simple behind the scenes. For example, how we design the economy of our apps.