So, this morning I was out running. I had 3 Energy in my STEPN application and running for 50 minutes, that rewarded me with 10 GST tokens, worth $50. But, does that mean that I earned a pure profit of $50 running for 15 minutes? Not at all!
In order to earn those tokens, I needed three sneakers, all worth $3600 with today's prices. So, I had to spend $3600 at NFT sneakers in order for this to succeed. But, if we forget about the initial cost, then the only sure expense that I need to remember is the "repairing of shoes" which costed me approximately $10. So, I guess 20% of my income went to repairing the shoes and keeping them working well. And then the remaining $40 can be counted as income. Whether I decide to use them to just take profit (and hopefully reach ROI after 90 days), or if I will use those money to level up my sneakers and maybe do some minting of new sneakers and more... that is something I haven't decided entirely yet.
No matter what, I feel forced to run every single day due to this investment, so it for sure has a positive effect on me already. Whether it will be a success also from a financial perspective remains unknown. But, if the price of GST will keep increasing, just as the price of the GMT token and the sneakers, then it will for sure be a success, considering that I could already sell my sneakers and be in profit (considering that the sneaker price has increased as well since I initially bought them).
What is STEPN all about? How can you use it?
We have just published a guide to STEPN in the IP Address Guide. I really suggest that you check it out, because it will really help you understand what this PoE platform is all about, and how you can get started.
For some reason, they have a quite stupid activation code system... and only a few thousand new users are allowed to the platform every day. As a result, there are thousands of people who want to use STEPN who cannot do so, simply because the number of activation codes are too few. But, maybe this will get better with time?! Who knows?
There you will also find lots of other useful information and answers to frequently asked question.
If you like the sound of this, make sure to check it all out!
Have you tried STEPN? Are you excited? Are you bullish, or do you find it to be stupid? For a long time, I really hated the thought of spending more than $1000 at buying a sneaker, but in the end, I couldn't resist after all. Will I regret? Time will show!
Ive been watching Stepn top out coinmarketcaps daily gains for awhile now. I am wondering if their success is due to the high entry cost? I heard there was a way to rent the shoes as well. Someone should start a project like that here on Hive(looking at @actifit)! Maybe I would be able to afford to play their running games haha
There is no way to rent shoes yet, but it is a function that is supposed to come within shortly. I am not sure whether it is a positive with the high entry cost and also the hard entrance with the activation code, but it can for sure be said that STEPN is currently a giant success!