Will STEPN Bring Crypto to the Masses?

If you aren’t comfortable with the prospect of waking up tomorrow and seeing your imaginary sneakers are suddenly worthless, you shouldn’t play.

So how does this collapse? Well as more people enter the game, the demand for sneakers will continue to grow. That growth can sustain the current prices for a while, they’ve actually trended upwards since I started playing. But they can’t go on forever since there’s almost nothing in the game that’s ROI negative.

If people are spending billions of dollars per year to look different in a game where you mostly shoot each other, how much will they spend to look different in a game where you also get to show off how healthy of a person you’re being?

A crypto game has to be a game first. If it’s not something fun to play on its own, without high earning potential, it’s not gonna make it. STEPN is fun. Leveling up your sneakers is fun. Mystery boxes are fun. Optimizing your energy is fun. Minting is fun. It’s addicting, and not just because there’s money attached. It might be the first fun retai... See more

It’s not quite a pyramid scheme or ponzi, but it’s darn close. 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.

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.