The Move-to-Earn model has taken the GameFi world by storm, with STEPN leading the charge. Recently, STEPN completed several feature updates and brand collaborations, claiming to have surpassed 300,000 daily active users. However, due to the popularity of this model that combines physical activity with earning, numerous competitors have emerged.
One such competitor is Step App, built on the Avalanche (AVAX) blockchain and based on the Fitness Finance protocol. It also leverages the Move-to-Earn concept, aiming to bridge the gap between NFT gaming and the real world. On the 26th, the project's native token, FITFI, was officially listed on several major exchanges, including OKX, Bybit, and Crypto.com.
According to data from Bybit, FITFI opened at $0.0049 and experienced a powerful rally, reaching a high of approximately $0.362 in the early hours of the morning. This represented an increase of over 70 times its opening price. The price has since retraced slightly and is currently trading around $0.32, with cumulative trading volume exceeding $230 million.
Step App Development Roadmap
Currently, Step App has not released detailed gameplay mechanics. However, based on simulated images on its official website, it is speculated to be similar to STEPN. Users will likely need to purchase sneaker NFTs, and their earned rewards will be calculated based on movement metrics like distance traveled or steps taken.
From the official roadmap, the team completed product specifications, UI, and UX creation in the first quarter of this year. The second quarter is scheduled for the initial NFT release and a beta test version. The NFT marketplace is planned to launch on the mainnet in the third quarter.
The official Twitter account, which has over 97,000 followers, also tweeted yesterday claiming that more than 100,000 users have pre-registered for the app's launch.
Understanding the Move-to-Earn Trend
The Move-to-Earn model represents a significant innovation within the GameFi sector. It incentivizes physical activity by rewarding users with cryptocurrency or tokens for moving. This fusion of health and finance has broad appeal, attracting users interested in both fitness and digital assets. The success of pioneers like STEPN has validated the model and spurred the development of new projects seeking to capture market share.
These applications typically require an initial investment, often in the form of purchasing an NFT asset like virtual sneakers. The quality and type of NFT usually influence the potential earning rate. Users then earn tokens by walking, running, or jogging while the app is active. The sustainability of these models depends on robust tokenomics and continuous user acquisition.
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Another SOL-Based Competitor: Genopets
Beyond Step App, another notable project in the Move-to-Earn space is Genopets, built on the Solana blockchain. While it incorporates the core Move-to-Earn mechanic, Genopets blends in additional gaming elements. These include pet incubation and evolution reminiscent of Tamagotchi and training and battle modes similar to Pokémon.
Genopets secured significant funding last year, completing an $8.3 million seed round. This round was led by Konvoy Ventures and Pantera Capital, with participation from about a dozen other venture capital firms. This substantial investment indicates strong investor belief in the long-term potential of the Move-to-Earn genre and its possible evolution.
Frequently Asked Questions
What is Move-to-Earn?
Move-to-Earn is a play-to-earn subgenre where users earn cryptocurrency rewards for physical activities like walking or running. It typically involves using a mobile app that tracks movement and requires an initial NFT purchase to start earning.
How does Step App work?
While full details are not yet public, Step App is expected to function similarly to other Move-to-Earn apps. Users will likely need to buy NFT sneakers. The app will then track their movement, converting steps or distance into rewards paid in the platform's token, FITFI.
What exchanges is FITFI listed on?
FITFI is listed on several major cryptocurrency exchanges, including OKX, Bybit, and Crypto.com. Always check the official exchange websites for the most current trading pairs and availability.
What is the difference between STEPN and Step App?
Both are Move-to-Earn applications. A key technical difference is their underlying blockchain; STEPN primarily operates on Solana and BNB Chain, while Step App is built on Avalanche. Their in-game economies, NFT designs, and specific reward mechanisms will also differ.
Is Move-to-Earn a good investment?
Investing in any cryptocurrency or NFT-based project carries risk. The value of tokens like FITFI can be highly volatile. It's crucial to conduct thorough research (DYOR), understand the project's tokenomics, and only invest what you can afford to lose.
Do I need an NFT to use Step App?
Based on the standard model and available information, yes, an initial NFT purchase will almost certainly be required to participate in the earning mechanics of Step App. Free-to-use modes might exist but likely won't offer earning potential.