Will STEPN Bring Crypto to the Masses?

The only way everyone keeps making money is if other people keep putting more money into the system, which either requires more people or deeper pockets from existing people.This is the metagame of STEPN: how long can you milk the magic money machine before it all comes crashing down? And can they fix their doom loop before it gets triggered?

STEPN allows you to earn crypto from walking, jogging, and running. They’ve gamified fitness with a “Move to Earn” model (Play to Earn with extra steps) where the app is able to track your exercise similar to Strava or Map My Run, then reward you with crypto for completing activities.

If all the uses of GST help you earn more GST, they’re headed for disaster. But once you can spend GST to enhance your status in ways that don’t allow you to earn more, they might just make it. 

You can’t let players mint new NFTs forever and expect them to hold their value. There has to be some sort of burn mechanism in place for all the excess sneakers, or else they’ll become worthless eventually.

By building out their social elements (which are coming after the game is more fleshed out), STEPN has the opportunity to build the first fitness app for non-athletes. It feels meaningful that they went with the name “STEPN” instead of “RUN’N.” It’s for casual use, not necessarily for athletes. 

This is the first time my wife has been interested in crypto. It’s the first time my non-crypto friends have been interested in crypto. It’s the first time my crypto guy friends’ partners have been interested in crypto. ...  I have never seen a crypto application generate this much outside interest.