Binance’s latest Launchpad project STEPN, why can it trigger so many discussions?

On March 1, Binance announced the latest launchpad project STEPN, which is a sports GameFi application. Simply put, it brings income while walking and running, which is a bit like Wang Duoyu’s insurance. After the news was announced, many communities were discussing this application. Rhythm BlockBeats wrote this project introduction a few months ago. It should be the most complete STEPN introduction in the Chinese Internet at present. It is sent out again for everyone to better understand this app.

With the popularity of Play to Earn, more and more X to Earn will gradually become a trend, and people’s income in the future will also include what we have done in our lives A series of things, including playing games, studying, exercising, etc., and "Move to Earn" is a brand-new earning model that combines exercising and getting paid. Some users even said that this is really suitable for food delivery practitioners .

Unlike the Play to Earn games we've seen, the Move to Earn project creates a A system that more closely connects the world on the chain with the real world. It is no longer simply a game that puts decentralized finance on the cloak, nor is it to motivate players to earn income and let them tediously click on the mechanism design Almost the same page, but fully mobilized their enthusiasm for sports, providing them with passive income while exercising their bodies.

In addition, game developers have been looking for physical movement (Move) to create interesting gameplay, however, even though these games are fun, the true potential of mobile gaming may still not be fully realized. Perhaps Move to Earn is the best solution to this problem. It combines the earlier Move to Play with the popular Play to Earn. What could be more exciting than earning money while exercising and gaming on your phone or wearable?

What is STEPN?

STEPN is a Move to Earn NFT game on mobile devices. Players need to wear "NFT sneakers" to walk, jog or run outdoors to earn rewards. It combines blockchain games with real-life mobile devices, aiming to push millions of people towards a healthier and low-carbon lifestyle, and bring them into the world of Web 3 and contribute to carbon neutrality. Make a positive contribution.

STEPN was created by the Find Satoshi Lab team, runs on the Solana network, and reconstructs the user body A symbiotic relationship between events and blockchain games. The project uses the player's sports data as a series of gamification inputs, and then converts it into Token and NFT rewards in the game on the chain. In addition, in the GameFi field of Solana "Ignition Hackathon", STEPN won the fourth place.

Meanwhile, STEPN continues to bridge the gap between crypto and non-crypto gamers to accommodate For all players, regardless of their past experience with decentralized applications (Dapps) or crypto games, the gameplay is kept as user-friendly as possible. Therefore, by attracting a large number of non-crypto players, this is also the key to the continued growth of STEPN's future users.

Game NFT Assets: Sneaker, Shoebox and Gems

1) Sneaker and Shoebox

Sneaker "sneakers" and Shoebox "shoebox" are both NFT assets in STEPN. Players can wear Sneaker to walk, jog or run outdoors to earn rewards. Through Shoebox, you can open 4 different types of Sneakers, namely Walker (walker), Jogger (jogger), Runner (runner) and Trainer (trainer). And when players wear different types of sports shoes and exercise at the corresponding optimal pace, they will earn GST Token by consuming energy.

Among them, the initial energy is 2 points, the player starts the game with 2/2 energy, and the upper limit of energy is 20. However, players can increase their energy by getting more sneakers, and how much energy will be increased will depend on the quality of the sneakers.

At the beginning of the project, STEPN officials have distributed 10,000 free tokens to early players through corresponding activities, including NFT assets such as sneakers or shoe boxes. Currently, the official NFT market is not yet open, and new players can purchase and start the game through the Magic Eden NFT market on the Solana chain. As of December 25th, Magic Eden’s data shows that the current floor price of STEPN is 2 SOL, the average price is 5.29 SOL, and the total transaction volume has exceeded 2046 SOL.

2) How to get Sneaker

First of all, the player can click the download button on the STEPN official website on the mobile phone Download the STEPN App; then enter the official Discord community to create an invitation link, invite 3 people to get an invitation code, and then register and log in to the STEPN App. However, if players purchase STEPN’s NFT, they can give feedback to the Discord operation management of the project party, and they will not need an invitation code to directly obtain the registration qualification for the public beta.

After purchasing Sneaker or Shoebox through Magic Eden, export the just-made The wallet used when purchasing NFT. At this time, Sneaker / Shoebox will appear in the Wallet column of the STEPN App. Next, you need to transfer the Sneaker / Shoebox to the Vault via the Transfer button.

If the Transfer is Sneaker, it will Appears directly in the Shoes column.

If the Transfer is Shoebox, it will Appearing in the Others column, the player needs to manually open the shoe box, and a sneaker will be randomly opened.

Next, players can The sneakers have started Move to Earn!

3) Gems

Gems (gems) are also in-game NFT assets that can be used to enhance the attributes of sneakers. At the same time, gems need to be used with corresponding treasure box slots, and high-quality treasure box slots will further enhance the attributes of gems.

Gems are divided into 4 types, each color enhances an attribute of the sneakers, respectively They are blue (enhanced Efficiency), yellow (enhanced Luck), green (enhanced Comfortability) and red (enhanced Resilience). These four enhanced attributes will be introduced one by one below.

At the same time, each sneaker has 4 different treasure chest slots, which are related to gems The different types are color-coded to match, so players can only insert matching gem types into the corresponding slots. In addition, each sneaker will unlock a treasure chest slot when it reaches level 5, 10, 15, and 20 respectively. After the player inserts the gem into the slot, the attribute of the inserted gem will be increased, and then the corresponding attribute of the sneaker will be improved.

10 properties of Sneaker

Looking at the current floor price sneaker Sneaker #3223, a sneaker includes elements such as type, quality, efficiency, luck, comfort, etc. 10 attributes, thus greatly enriching the gameplay of the game.

1) Sneaker Type (sports shoe type)

It is divided into Walker, Jogger, Runner and Trainer (mentioned above, so I won’t go into details here).

2) Sneaker Quality

Each type of sneaker is divided into 5 qualities, namely Common (common, gray), Uncommon (rare, green), Rare (rare, blue), Epic (epic, purple) and Legendary (legendary, orange). In addition, there will be slight differences between sneakers of the same quality, and their quality attributes will be divided into a range.

3) Optimal Speed

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Different types of sports shoes will have an optimal pace for reference.

4) Shoe-Minting Count (number of new shoe castings)

Two sneakers can be cast into one new shoe, but each sneaker can be minted up to 7 times.

5) Efficiency

In single-player mode, the efficiency determines how many additional GST/GMT Tokens the player can get in addition to the basic return of sports shoes. The higher the efficiency, the more GST the player can get after consuming energy each time /GMT;

In marathon mode, efficiency can help players log in faster On the leaderboard, the higher the efficiency, the more sneaker points.

6) Luck (lucky value)

In single-player mode, the lucky value determines the probability of a blind box appearing in the player's treasure chest slot, and the blind box will contain a random number of GST, GMT and Gems (Lv1 – Lv4 only). Additionally, sneaker owners can also earn gems by renting out their sneakers to other players, and luck is a very desirable stat for players who plan to rent most of their sneakers to the marketplace.

7) Comfortability (comfort gain)

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In single player mode, comfort determines how often the player gets short/long term buffs. The short-term gain is an increase in Token income/energy consumption that lasts for 1-5 minutes, and occurs randomly when the player is exercising, while the long-term gain is an increase in Token income/energy consumption that lasts for 24-72 hours. Also, short-term buffs can occur on any sneaker between Lv1 and Lv30 levels, and can be stacked multiple times.

In the marathon mode, only long-term gains can occur, in addition to income increases, it also includes more Cheaper shoe-minting costs, point rewards for marathons, and better sneaker rental opportunities. Additionally, long-term buffs can occur on any sneaker between Lv20 and Lv30 levels, but cannot stack with each other, and new long-term buffs replace the previous ones.

Comfort is an attribute that strategically enhances gameplay, and used well it can help players progress faster than others.

8) Resilience

In solo mode, the recovery of sneakers determines its durability, higher recovery means better durability, thus Reduced repairs, players will pay less for repairs even if they end up repairing their sneakers.

In marathon mode, high recovery sneakers allow players to run faster and farther without worrying about the durability of the sneakers being below 50% There is a "wear and tear" penalty. Therefore, for players participating in marathons, the recovery of sneakers is a desirable attribute of player maintenance costs.

9) Durability

The durability of sports shoes determines the speed of its own wear and tear. When the durability is lower than 50% and 20% respectively, the sports shoes will suffer "Wear" penalty, which will reduce the Efficiency of the sneakers to 90% and 10% of their full value respectively.

10) Badge

Sports shoes with or without badges will provide them with additional attributes, such as in single player mode, players can get extra energy; in marathon mode, increase leaderboard point rewards; and lower costs when minting new shoes, etc.

In addition, the sneakers need to be upgraded, the highest level is Lv30. Through continuous upgrading, players can unlock corresponding functions.

Players can upgrade their sneakers from Lv1 to Lv 28 by burning GST Token in the game, but the number of Tokens required for the upgrade Will increase exponentially with the increase in the level of sneakers. And each upgrade takes a certain amount of time to complete, but players can also skip the upgrade time by burning more GST.

If the player wants to upgrade the sneakers from Lv28 to Lv30, in addition to burning GST, It is also necessary to burn the Governance Token GMT of the game.

On the other hand, after the sneakers are upgraded, players will get 4 attribute points and can It is up to you to choose which attributes of the sneakers below to add them to respectively, and the player will get additional rewards for this.

What are the ways to play?

1) Single player mode

In single player mode, players can earn GST by moving, just press the START button and start moving. A player's income is determined by two criteria: their athletic stats and the attributes of the sneakers they own.

However, the player's daily energy is limited, once exhausted, the single player mode will stop earning GST. At this point, the player can choose to continue the campaign without earning any more, or manually stop the single player mode.

2) Marathon mode

In marathon mode, players need to register for the online marathon under the marathon tab. There are weekly and monthly races in the marathon. Participants need to register separately 24 hours before the start of the online marathon.

For the weekly race, players can choose to participate in the 2km, 5km or 10km marathon; for the monthly race, players can choose to participate in the 21km or 42km marathon. Currently, the marathon mode is not officially launched, but players can only participate in one marathon at a time.

3) Background Mode

Even if the player only owns one sneaker, he can earn GST without opening the STEPN App. The background of the App will directly collect the health data of the player’s mobile device to get the number of steps. At the same time, the number of steps gained during background mode will not reduce the durability of the sneakers.

Furthermore, there is a cap of 3000 steps for earning in background mode, which is fixed and does not affect sneaker quality or NFT badges.

4) Casting new shoes

Casting new shoes requires two sneakers of at least L5 level, neither of which has been rented and has 100% full durability, but each sneaker Can only be cast 7 times. What is cast is first a shoe box, and then new sneakers are produced, and the quality of the new shoes is determined by the quality of the shoe box.

In addition, casting normal and rare quality sneakers only needs to consume GST, while casting epic and legendary quality sneakers needs to consume both GST and GMT. During this process, STEPN will collect a 6% tax rate and flow into the game's treasury, and GMT holders will be able to vote on its distribution.

Therefore, players can also forge new sports shoes by upgrading their sneakers Shoes, and then put them on the NFT market for trading profits (the transaction tax rate is 4%), and this will also be more suitable for some game strategies of the Goldsmithing Guild.

5) Rental sneakers

STEPN has made an automatic matching system, encrypted players with multiple sneakers can immediately rent sneakers to non-encrypted runners through the one-click rental button enthusiasts to earn income. During the rental process, STEPN will charge a tax rate of 8%, while the income distribution between the lessee and the lessor is fixed at 3/7.

Additionally, every player has a default 2-star credit rating when they join the game. If the lessee fails to fulfill the lease agreement, the system will deduct 1 star from its credit rating; if the agreement is successfully fulfilled, the system will reward the lessee with 0.1 star; the lessee's credit rating is capped at 5 stars.

Economic mechanism

STEPN has dual Token, Game Token (GST) and Governance Token (GMT). GST is used for various in-game activities, such as minting new sneakers, upgrading sneakers, upgrading gems, etc.; GMT is used for profit distribution of the game and high-end in-game activities, such as rebranding sneakers and advanced upgrades.

The supply of GST is unlimited and the player will Generated; GMT is limited, after the sneakers reach the highest level, players will be able to get them, and the total amount of GMT is 6 billion. However, the daily GST and GMT that players can earn are limited. Initially, they can only earn a maximum of 5 GST per day to start the game. After upgrading their sneakers, the daily GST maximum can be increased Increase to 150; and GMT daily earning limit is 5.

Currently, GST can be traded on Raydium, and 1 GST can be exchanged for about 1.63 US dollars, while GMT is temporarily unavailable for trading.

In addition, the profits in the game are voted in the form of DAO, and GMT holders will decide how much of the game profits will be used for carbon neutralization and pay them as rewards. At the same time, by locking GMT in the profit pool, players will also get higher voting rights.

Project Progress

Since its establishment in September this year, within 4 months, STEPN has achieved rapid growth. According to the official website data, the mileage on its mobile devices has totaled more than 73k kilometers, reducing 19.86 tons of carbon emissions. On social media, STEPN has also aroused enough heat. Its Discord has nearly 30k members and Twitter has more than 14.5k followers.

From the perspective of current user distribution, STEPN is advancing to the world, and users in India and Southeast Asia are mostly for the time being.

Next, STEPN will continue to cooperate with some sports brands and wearable technology companies.

Summary

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In 2015, 15% of the U.S. population used an app to track their fitness activity, according to PLOS ONE (a public library of science journal) . Today, there are more than 400 million exercise enthusiasts running apps worldwide, and more than a billion people who use walking, jogging or running as a form of exercise.

At the same time, due to the impact of the new crown epidemic, people's awareness of personal health has been enhanced, In 2021, the online fitness industry will reach an annual growth rate of 33%. Therefore, combining sports with the popular Play to Earn Move to Earn undoubtedly has huge market potential.

In addition, STEPN has adopted the novel Move to Earn concept and its cool NFT assets, it will be easier to attract players in the encryption circle. For users in the non-encrypted market, especially those who have used applications to record their activities, they will not feel too unfamiliar after being exposed to the STEPN App, and are willing to try early adopters and enter the world of Web 3. Some community users even said that it seems that in the future, whether it is a takeaway boy or a practitioner in the encryption circle who goes bankrupt and re-employes, they can use this app to earn an extra income.

More importantly, STEPN designed its NFT assets Multiple attributes have been added, which greatly enriches the gameplay and fun of the game. In addition, by weighing the money-making effects of different gameplays in the game, players can explore their own game strategies by themselves, and these will also enhance STEPN players. retention rate.

In terms of technology, STEPN also has certain advantages, such as how its mobile devices prove that players start Moved, how far? How to store the generated game assets and prevent hacking attacks, etc. Moreover, STEPN has also designed an anti-cheating system that uses GPS tracking, motion sensors and machine learning for data simulation to stop players from cheating.

However, Move to Earn The concept is still too new and has yet to be verified by the market, and there are certain thresholds for players to understand STEPN and game operations, especially in the context of the current GameFi project track gradually cooling down, players still need to pay attention to risks and participate cautiously.

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