There’s a new move-to-earn cryptocurrency lifestyle app born out of Adelaide that’s taking the crypto world by storm, but if you want to get in on the action you have to be willing to fork out almost $1000.StepN, co-founded by former small business entrepreneur Yawn Rong and Chinese gaming entrepreneur Jerry Huang, enables users to buy digital sneakers and then earn tokens by walking or running.
“We donate a portion of our profits to buy carbon removal credits, and we also get people healthier. We were still in lockdown at the time, and we wanted to get people outdoors and exercising.”The game became so popular so quickly while it was still in beta mode that to moderate the influx of users, the company is now releasing only 2000 access codes each day, via Telegram and Discord.
“Those people are traditionally difficult to target, but with tokenomics, they’re helping us spread the word.A note from Delphi Digital earlier this month stated that the SOL trading volumes from StepN were so high that it had already become the dominant force within the Solana NFT ecosystem, with volumes hitting as high as $US57 million per day. This volume results in revenue for StepN, which charges a 6 per cent fee on every transaction in its app.
While the app has been an instant hit with user's, investors have been sent on a wild ride thanks to the volatility of the price of its tokens.
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