—
Over the last few years, there have been several innovations in the blockchain space, with developers finding new ways for investors and enthusiasts to take part. This new report launched by Chiliz News explores STEPN, an exercise platform that can provide motivation to users for making healthy lifestyle choices.
To read the full report on STEPN and crypto exercise platforms, please visit https://chiliznews.com/move-to-earn-crypto-stepn-is-a-nike-or-adidas-deal-ahead-for-the-web3-fitness-trend-nft-sneakers-reward-runners-walkers
The blockchain-backed exercise trend has been growing rapidly since the beginning of 2022, with users finding extra motivation for their routine exercise activities, including walking, jogging, and running outdoors. Chiliz News explores the possibility of a new partnership between major brands Nike or Adidas and the STEPN platform, and what that could mean for participants or investors.
Since launching in December 2021, STEPN gained over 100,000 new users in its first three months. The developers created a platform that has interested users from all walks of life by combining the most popular elements of several crypto innovations with a simple way to collect tokens for additional motivation to get daily exercise.
The platform incorporates Social-Fi, Game-Fi, and NFTs by improving users’ exercise habits using a multi-tiered system. Members who purchase the higher tiers of NFT sneakers are given several advantages with every step they take, and also have the option to rent their sneakers to other users so they can benefit from the improvements.
STEPN uses a dual-token model similar to many P2E games. The governance token, Green Metaverse Token (GMT), has a limited supply that users can generate if they are walking with the higher-level NFT sneakers. The Green Satoshi Token (GST) has an unlimited supply that is easier to generate, with a carefully managed burn mechanism used to control the total amount in circulation.
Users also have the option to upgrade their NFT sneakers by burning some of their GST, which provides them with more in-game advantages, while also limiting the total amount of tokens in circulation. This upgradeable NFT option that helps users to improve their exercise motivation is a large part of what has attracted so many users to the platform.
Recent hints of a potential partnership between STEPN and a major shoe brand have caused the tokens to soar in value, with STEPN sharing artwork that contained the hidden logos of several popular shoe brands.
To read the full report, or to find the latest news on all things cryptocurrency, please visit https://chiliznews.com/move-to-earn-crypto-stepn-is-a-nike-or-adidas-deal-ahead-for-the-web3-fitness-trend-nft-sneakers-reward-runners-walkers
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
Contact Info:
Name: Phil E
Email: Send Email
Organization: Digital Shoutout, LLC
Address: 5570 FM 423 Suite 250-197, Frisco, Texas 75036, United States
Website: https://chiliznews.com
Source: NewsNetwork
Release ID: 89075025
If you detect any issues, problems, or errors in this press release content, kindly contact error@releasecontact.com to notify us. We will respond and rectify the situation in the next 8 hours.
