I Make Over $3,000 a Month Running with This NFT
My Monthly Runs from Strava
So, what’s the catch? There’s a steep cost to get started. To earn crypto in STEPN, you must first purchase an NFT. (Non-Fungible Token) That means I spent about 12 Solana, or $1,200 for a jpeg of a shoe.
Most people scoff at me when I try to explain it. “Is it comfy? How fast does it make you? Why would you pay that much?” Most people don’t understand the concept of an NFT. You’re not ‘buying a jpeg.’ You’re buying access to an app that pays you to run.
Is it worth it? Well, if you had the ability to make $100 a day off any other asset, what would that be worth to you? Many will say a business is worth 2.5-3x yearly profits. At $100 per day, that comes out to $36,500 a year. Realistically you’re looking at closer to $30,000 a year because you won’t run every day.
Now, I have to clarify, I have spent some time and GST upgrading my sneaker. At the beginning I was making less GST per run, but you can level up fast in STEPN. And if you’re goal is to get your money back as soon as possible, upgrade to level 9 and begin collecting GST until you’ve made your initial investment back.
Buying an NFT sneaker for $1,200 that earns a $30,000 a year is a steal! I wouldn’t be surprised to see these NFT sneakers go for over $10,000 by the end of the year. Why are they ‘cheap?’ This game is still so early. The fact that you’re hearing about it now makes you so far ahead of the masses.
How early are you? Check out the STEPN road map here and you will see that the game is less than a year old but growing fast. At launch in December 2021, STEPN had 1,500 daily users. The next month, over 100,000. Now STEPN is over 400,000 daily users.
Tracking your walking and running activities is something people have been doing for free. Strava reported that walkers logged over 668 million miles in 2021. Fitness trackers like the Garmin Instinct are a huge hit! Getting paid to walk or run is obviously going to be a massive hit in the running and walking community.
How Does the Game Work?
Once your account is set up, you need to find a sneaker from the in-app marketplace. Now you need to pick the sneaker that fits your lifestyle. Each sneaker will pay you based on how fast you are moving. If you buy a ‘walker sneaker’ you need to walk 1-6 km/hr. If you get a ‘jogger sneaker’ you need to move at 4-10 km/hr. A ‘runner sneaker’ is 8-20 km/hr. And finally, there are ‘trainer sneakers’ which pay at 1-20 km/hr. So, you can walk, jog or run in these, which makes them the most useful and expensive type of sneakers.
You want to find a sneaker that has high efficiency ratings and resilience. Efficiency determines how many tokens you earn per run. And resilience determines how many tokens it costs to ‘repair’ your sneaker after a run. Luck and Comfort are not very important at this stage in the game but that will change with time. And you can upgrade these stats if you level up your sneaker, which costs GST to do. And yes, it’s worth it.
Once your sneaker is set up, you simply need to go outside and open the app. Click ‘Start’ and get moving! You must be outside; treadmills do not work. You must have decent internet connections so your GPS can track your movement. And you must have enough ‘energy’ to earn GST. This refills every 6 hours by 25%, so a full refill every 24 hours. This caps your daily earning potential, but do you really want to run multiple times a day?
How Do You Get Paid Exactly?
STEPN pays you in their utility token, GST, or Green Satoshi Token. Now, you can immediately trade this into Solana or USDC. Both of which can be turned into US Dollars or your own native currency, if you’re not on board the crypto train. And yes, I have taken money out of this app and moved it into my Coinbase wallet.
But you might want to second guess trading into US Dollars. The GST token has tripled in price over the last 3 months. And this is during a rather soft crypto market. Personally, I plan to move some of my GST into dollars to repay my initial investment and I also will move some to Solana or Bitcoin. This way I can offset my risk by diversifying.
You can expect to earn even more money if some things happen. If the price of GST continues to rise, you can earn more. If you upgrade your sneaker, you can make more money. If you get 3 sneakers, you can double your energy. This doubles your daily income potential.
So How Risky is This?
Like anything crypto and NFT, this is a volatile market. Move to Earn is very popular right now, but so many projects end up failing. Do not put money into this unless you can afford to lose it. I believe in this project, but it’s far from a sure thing.
If you buy a sneaker, you’re looking at spending around $1,200 or so. The price of these sneakers have slowly been rising but that can always change. The same goes for the GST Token that STEPN pays you for your runs or walks. This is a very volatile token but has been trending higher since it’s creation. GST also got listed on Coinbase very recently which is one of the most popular crypto exchanges.
Ultimately, I’d say that the risk is minimal as you can see such a quick turn around time on your investment. Will this app be around in a year? Who cares? If it lasts for 2 months, you can double your money. And it’s a great excuse to start a healthy habit right before summer.
If you’ve been reading my content, you know that I’m a huge proponent of running and staying active in general. This is a project that has my full support. I love that it is encouraging people to get active in a fun way. The gamification of this app is addicting and rewarding. Let me know in the comments below if you are getting involved in the STEPN community.
Crypto Risk Disclosure: BY TRADING CRYPTO CURRENCIES, YOU CAN LOSE UP TO YOUR ENTIRE DEPOSIT. You should not deposit money that you cannot afford to lose. You should seek advice from an independent and suitably licensed financial advisor and ensure that you have the risk appetite, relevant experience and knowledge before you decide to trade.
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