Author: Buzurin Daniel
As blockchain tech enters the mainstream, the web3 movement is already starting to revolutionize the internet, rewriting the rules in industries from gaming to finance to art. Now, STEPN is on a mission to disrupt the fitness industry.
Fitness, a billion-dollar opportunity for web3
What’s the next big industry to be disrupted? web3 has only scratched the surface of fitness, which is one of the fastest-growing markets in the world, valued at over $4.7 trillion and expanding at a double-digit pace every year.
The COVID-19 pandemic only catalyzed the growth of this industry, bringing health and wellness to the forefront of our collective consciousness.
The current state: Walking, jogging, or running regularly is a huge boost to your health. Those who run enjoy boosted serotonin levels, improved cognitive function, reduced stress, and improved heart health. Researchers at Harvard have found that 21 minutes of walking a day can cut your risk of heart disease by a whopping 30%.
The StepN team is looking to take advantage of fitness and the incredible social atmosphere behind the phenomena. There are millions of fitness freaks in the world who work with countless apps and programs. What StepN is building will tap into the social and community elements to revolutionize how blockchain technology is used for earning.
“When we were deciding to do a product, we thought that running and walking is basically something that almost anyone can do. If we can convert this to a move-to-earn or rent-to-earn, then we could effectively reach everyone,” explained Kwong.
The unique Move-to-Earn concept is something Kwong and his team believe can help onboard myriad new users to crypto. Kwong acknowledges the difficulties of initial entry but believes that users will flock to his app once these barriers are assuaged. But the Move-to-Earn will not be the only concept that brings users to the app — in fact, Kwong thinks it will be secondary.
Real-world impact This is where STEPN really shines in the web3 space — using web3 to get people out of web3 and into the real world. A common notice of web3 systems is that numerous don’t deliver real-world mileage. Suppose, for illustration, PFP NFT systems that are nothing further than a status signal.
But what’s setting STEPN piecemeal is that its value proposition isn’t constrained to the web3 world. On top of earning commemoratives and learning about web3, druggies are saying that they feel more and look better, all while developing healthy long-term habits of moving outdoors. Formerly, the STEPN Discord is seeing hundreds of success stories and fitness metamorphoses. Some druggies are saying that they haven’t worked out in over a decade, and are now moving outdoors 7 days a week. With important network goods — and especially, zero marketing spend — STEPN’s circle of influence is going parabolic. The app has been on the request for lower than half a time, launching in public beta in December 2021. Also, the app has been growing exponentially.
What’s coming for STEPN in the road ahead? The sky’s the limit. Some presume that the app, growing at its current pace, could come to the coming Axie Perpetuity — or indeed bigger. Its product prayers to followership that go further just web3 and combines the power of both fitness and crypto. The platoon is ready to gauge and quick to introduce, allowing five-way ahead across game design and community operation, erecting a strong foundation to support long-term and sustainable growth.
STEPN is a Web3 lifestyle app with Social-Fi and Game-Fi elements. Users equipped with NFT Sneakers — walk, jog or run outdoors to earn GST, which can be used to level up and mint new Sneakers, Players can choose to lease or sell their NFT Sneakers on the in-app Marketplace; users’ GST earnings are stored in the in-app Wallet, which has a built-in Swap function.