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How can STEPN take advantage of the new billion dollar Web3 opportunity?

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STEPN, which offers a "earn while you move" mode and a Web 3 fitness experience, helps everyone become a "better version" of themselves through motivation.

原文标题：《 STEPN brings Web3 revolution to fitness 》

STEPN Official

Moni, Odaily

Whether you admit it or not, blockchain technology has gone mainstream, and Web 3 is revolutionizing the Internet and changing the "rules of the game" in gaming, finance, art, and more. In the field of fitness, STEPN's sudden birth injected more innovation into the industry.

The rise of "earn while you play" P2E

For "earn while you play". 2021 is definitely the most important year for the gaming market.

Such as & have spent Axie Infinity "Earn while you play" projects like Thetan Arena have attracted millions of players and are turning the traditional gaming world upside down. With the rise of the groundbreaking "earn while you play" model, the entire NFT game market has been driven to $2.3 billion.

The reason for the explosion of "earn while you play" games is simple. In the past, players would spend hours a day playing games like Fortnite, but their in-game achievements were hard to translate into real-world "value points", and there was no bridge between the virtual world and the real world. Now, thanks to blockchain interoperability and the emergence of nFT-based play and earn games, players can translate in-game achievements into "real value" that can be seen in the real world.

In Southeast Asia, in particular, earning money while playing has begun to change the lives of locals. More and more people are making a living playing games like Axie Infinity in virtual worlds and even using their game rewards to buy a new house.

Fitness, a billion dollar new Web3 opportunity

What's the next industry that could be disrupted by Web 3? The $4.7 trillion "fitness" industry is the most likely. Web3 has only touched the tip of the iceberg in one of the fastest growing industries in the world, with the fitness market growing at an astonishing double-digit rate every year.

Admittedly, the outbreak of COVID-19 has accelerated the development of the fitness industry, as people begin to pay more attention to their own health and maintenance.

It is well known that regular walking and jogging are very good for human health. Runners who exercised increased their serotonin levels and improved cognitive function, as well as reduced stress and improved heart health. Researchers at Harvard University found that walking 21 minutes a day can reduce the risk of heart disease by 30 percent.

But why doesn't everyone stick to jogging or walking? While people know the benefits of regular exercise, they just can't stick to it, and many can't overcome boredom when, in the age of the Internet, it's so much easier to sit indoors and play with your phone.

There are serious health problems all over the world due to people's lack of exercise. Research has shown that physical activity was declining globally before the COVID-19 outbreak, and the spread of the pandemic has exacerbated the problems. Obesity rates among children and adults are at an all-time high; At the same time, mental health problems are also on the rise, with rates of anxiety and depression soaring to unprecedented levels.

When the "earn while moving" model is injected into the fitness industry

Following the pioneering success of games with the concept of "earn while you play", apps like STEPN are increasingly gamifying fitness, hoping to inspire millions of people to get moving and improve their health.

The "make money while you move" sector is making a huge impact thanks to the fitness and crypto industries -- and the forces behind these trends can be summed up in four types of feedback loops. Well, let's take a look. STEPN how to use these four moves to achieve success.

1. Motivate users

To better motivate users to exercise more, STEPN promises to reward them with encrypted tokens. While we all know that going out for a walk or a jog is good for our health, our inner inertia is hard to overcome. But with the extra push to earn tokens, it seems to be getting out the door a lot easier.

2. Gamify fitness

STEPN gradually gamifies fitness through in-game rewards, upgrades, customized sneakers, and daily energy subsidies. Gamified fitness is a great idea, and it's proven to make exercise addictive and motivate people to keep exercising.

Many experts believe gamified fitness actually represents the future of the fitness industry, if designed well. In fact, Internet fitness is already moving in that direction, with several fitness startups -- Ergatta, Aviron, Zwift, and Playpulse -- attracting vc attention and raising millions of dollars. In addition, the researchers have demonstrated that gamified physical activity can lead to positive changes for users and improve their health in the long term.

3, "signal as a service" in the form of exercise certification in the field of fitness

The term "signal-as-a-service" was coined by Linear Julian Lehr, an executive at The firm, argues that companies in the signal-as-a-service space use a kind of "social capital" and "influence" to influence consumers, a phenomenon that has been powerfully demonstrated in the recent NFT boom. For example, users who buy a popular NFT do so either to show others that they can afford it, or to show that they can use their connections to help them learn about the project and invest in it.

Now, this phenomenon is taking the form of proof-of-workout workouts, too, with Strava being the most famous example. Strava allows runners and bike exercisers to post photos of their workouts on the platform, interact with other users and encourage more people to participate in the sport than simply provide analysis of exercise data.

It's worth noting that blockchain-based "earn as you go" gaming models combine the power of these two budding trends. By providing NFT and ensuring that Token economics is designed in a way that enhances long-term value, STEPN sneakers are themselves becoming status signals that attest to your workout status. It is this model that has propelled the value of STEPN's virtual sneakers, some of which now cost thousands of dollars in the in-app market.

4. Store your "financial results"

There's also an emotional element behind STEPN sneakers, and while repairing and upgrading a STEPN sneaker is relatively simple, it's certainly not a simple or quick process, and it can take weeks, if not months, for users to reach a specific level.

So if a user gets a pair of fancy sneakers, it means not only that the user has a good payoff, but that they've put in the hard work, the exercise, and the weeks or months it took to earn the payoff. Although just a snapshot, it speaks volumes about the dedication and sweat the owner has to rely on to get his sneakers to that level. More importantly, for fitness enthusiasts, their achievements will now be permanently stored on the blockchain and untampered with.

STEPN's impact on the real world

One of the main reasons STEPN works so well in Web 3 is its impact on the real world, helping people "get out" of Web 3 and into the real world while using It.

Frankly, there are some voices in the market today criticizing Web 3 projects, claiming that they don't offer real-world utility. There is some truth to this, of course, as some NFT projects, for example, do not seem to provide much "immediate value" to people.

Unlike other NFT projects, STEPN's value proposition is not limited to the Web3 world. In addition to offering play while you earn and a Web 3 experience, they can help everyone become a "better version of themselves" : feel better, look better, and adopt healthier lifestyle habits. The STEPN Discord community has seen hundreds of success stories and fitness transitions. Some users say they haven't been physically active in more than a decade, but STEPN has helped them get into the habit of exercising outdoors every day.

Not only such, STEPN does not have any input in marketing aspect almost, however by virtue of powerful network effect harvest user favor, its influence is also climbing ceaselessly. In December 2021, STEPN launched a public beta, and within six months of its launch, the app has seen exponential growth in users.

So, what will happen to STEPN in the future? To paraphrase a basketball adage: maybe the sky is the limit. Some have speculated that the Web 3 app could be the next Axie Infinity, or even surpass it, based on its current growth trend, as it appeals to an audience beyond Web 3 and combines the power of fitness and encryption. Now, the STEPN team is ready to scale up and innovate quickly, while thinking strategically ahead in game design and community management, laying a solid foundation to support long-term and sustainable growth.

STEPN, the future can be expected!