Stepn just released its reports for its users for the year 2022 and that's why I decided to share my experience. First of all - I need to remind you that this is not a financial advice. In $ amount, I'm probably still in the minus, but I started using this app for 2 main reasons. The main reason I'm a crypto researcher and I wanted to test this app, it's usability, tokenomics, etc. I'm testing as many crypto apps and services. If you, my readers, think it's a good idea to make video review - just let me know. The second reason is that this app really gives me more motivation to walk, and that's good for health. If I don't walk the necessary amount of time - I will loose money. In meaning that I won't earn tokens, even if that's only $1 or less, that's still a good habit to grow - walk more.
So that's the image from my report.
6315 GST is right now (at the moment of writing this post, 17 January 2023) only $116. Now I have 10 pairs of Stepn shoes, the first ones I bought in spring at the price of around $100. So you can see - financially it was not a good idea to use this app). And the last ones, I bought only for $15.
But there were times when GST price was $7.86 (in April 2022), so let's imagine I would have this amount of GST back then - it would be almost $50 000
But I'm not keeping GST, some amount of it I spend for "repairing" of shoes, that's the game tokenomics - you need to repair your shoes from time to time. And then when I have 100-200 GST - I move it to Solana wallet, exchange it to SOL, and then I have some small amount of liquid crypto. And that's good as I can make presents in crypto or spend it to get some new crypto, do some micro-investments, testing, or spending (i.e. like I paid for fuel with crypto)
Now as the shoes are cheap, I got more and now I have 10 pairs (9 pairs give you amount of energy enough for 45 minutes of walking-earning). In the past, I had 3-4 pairs of shoes and I had energy enough to walk for 20 minutes. I decided that 45 minutes of daily walking is optimal for me.
And in Stepn app - I like the design and the game mechanics. You can update, and improve your shoes, sell and buy them on the marketplace, and send them to others as NFT. Yes, each sneakers pair is NFT and that's the really good usage of NFTs - it's understandable for the broad audience.
I don't recommend it as investment, it's hard to predict GST, GMT (another currency of the app), or even Solana price. But if you enjoy running, walking or just testing crypto apps - I'm definitely suggesting to check Stepn.
