STEPN Unveils its NFT Utility Upgrade Plans

STEPN recently released its long-term plan for NFTs. The company is gearing up with its current strategy to introduce the concept of non-fungible tokens (NFTs) to the mainstream audience.

Sep 19, 2022
by Anvi Saini
STEPN Unveils its NFT Utility Upgrade Plans
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The team wrote a thorough blog on Medium outlining its current NFT utility implementation and future ambitions. Topics covered were scarcity, ownership, ownership transparency, collectibles, and PFPs. The blog links were shared on its Twitter account, where it received mixed reviews from users.

 

How does the NFT utility assist STEPN users?

The NFT utility benefits STEPN users in a variety of ways. These are some examples:

  • Structures of incentivized rewards in which NFTs are employed as a digital representation of the user's real-world dedication to their health. This is done through the use of physical health rewards and tokens.
  • Earning GST is only possible via NFT ownership, which comes with milestones such as minting new NFTs, levelling up your sneaker, and unlocking mystery boxes to give in-app advancement that reflects the player's real-life development.
  • Other benefits are available as part of the STEPN NFT experience. These include, for example, air-drops of OG shoes at specific releases.

STEPN's NFTs are more than just a pretty image of a shoe. Instead, they want to demonstrate how NFTs may have real-world usefulness. In this scenario, NFTs allow for the stimulation of health and fitness.

About STEPN

STEPN is a Web3 lifestyle application that includes Social-Fi and Game-Fi features. The move-to-earn app is based on an everyday activity for people to move around. Users are outfitted with Non Fungible Tokens in the form of Sneakers. Users earn game money by jogging, running, or walking outside, which may be utilized in-game or paid out for profit. 

 The in-app Marketplace allows players to sell or lease their NFT Sneakers. Users' can save GST revenues within the in-app wallet, which includes a built-in Swap option.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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