Stepn’s ‘Move-to-Earn’ Model Has Crypto Analysts Seeing Value in Long Run

, a"move-to-earn" application on the Solana blockchain that allows users to get cryptocurrency rewards from walking or jogging, is getting traction in digital-asset markets.And Stepn's native token, green metaverse token , is changing hands around $2.20, roughly 17 times where it started trading in March despite having retreated from an all-time high around $9 last month.

Sales volumes for the NFT sneakers have also been growing significantly. According to data from Delphi Digital, sales reached a high of $57 million daily and have dominated most of Solana’s NFT trading volume. Noor bought his first pair of sneakers for 10.8 SOL and said that they are now worth 20 SOL. He thinks Stepn has a bright future because the app is earning money from users in more than just one way – minting shoes, selling shoes and from refilling users' energy.

“The runway for Stepn is much longer than the runway of Axie,” said McEvoy. “This is because the total addressable market of people who would use Stepn is bigger than those who would use Axie.” “In a sense the Stepn developers play the role of a central bank, pulling demand-side levers that either support asset prices or cool them off, much like the Fed,” explains McEvoy. “This makes it difficult to predict how the token will play out.”

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LedesmaLyllah Some inaccuracies in this article. $GMT seems to be confused for $GST at various points. It was $GST which pumped to $9, since it has the core utility in the game right now, whereas $GMT is getting new use cases on a weekly basis. But nice to see StepN in the limelight.

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