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Cryptocurrency STEPN Offers Compensation To Users In Exchange For Physical Fitness
A new crypto pays users to get in shape
Utility is the lifeblood of cryptocurrencies. The ability of a crypto to provide tangible solutions or rewards can go a long way towards helping determine if they will attract users and investors, and thus have a future in a volatile asset class market. One of the most recent with a unique spin is STEPN (GMT), which offers users of its app financial incentives for increased physical activity.
Forbes’ David Prosser recently reported on STEPN and the niche it has been carving out for itself in the crypto world. Yawn Rong, it’s co-founder, likes to simply explain the concept behind their innovation, which was just released earlier in 2022:
“We wanted to incentivize people to change their behavior and do more exercise. It’s a way to share the benefits of Web3 technologies with a new and diverse pool of fitness enthusiasts.”
In order to use STEPN, one first downloads their app and purchases a pair of virtual sneakers that are actually an NFT (non-fungible token) in order to become eligible for future compensation. These sneakers are bought with Solana (SOL) and run a pretty penny, with prices fluctuating to over $1,000 per pair. The app then uses GPS and motion…
