What is STEPN? In-Depth Explanation of the Move to Earn App Mechanism and How to Begin

What Is STEPN?

STEPN is a Move to Earn application where users can earn cryptocurrencies like GST and GMT by purchasing NFT sneakers and exercising in the real world. Since its launch in December 2021, STEPN has become a major focus in the Web3 industry, with over 5.7 million users worldwide.

STEPN isn’t just a fitness app—it’s an ecosystem powered by blockchain technology and NFTs. By turning everyday activities like walking and running into opportunities to earn digital assets, STEPN has the potential to redefine traditional notions of exercise and rewards.

How Move to Earn (M2E) Works

Move to Earn is a new concept that rewards users for physical activity. Unlike traditional Play to Earn games, which are limited to virtual interactions, STEPN converts real-world exercise into cryptocurrency rewards.

When users equip NFT sneakers and walk or run, GPS and motion sensors accurately track their activity. Based on the amount of exercise, users earn GST, combining health benefits with financial incentives.

The Two Cryptocurrencies Used in STEPN (GST & GMT)

STEPN’s ecosystem centers on two cryptocurrencies: GST and GMT.

GST (Green Satoshi Token) is a utility token earned through everyday exercise. GST is used for sneaker repairs, upgrades, and minting new sneakers. It has an unlimited supply and can be continuously earned based on user activity.

GMT (Green Metaverse Token) serves as STEPN’s governance token. With a total supply capped at 6 billion, GMT is used for upgrading high-level sneakers and voting on platform policies, making it a vital currency within the ecosystem.

NFT Sneakers: The Core of Gameplay

In STEPN, NFT sneakers are at the heart of the game. Each sneaker is a unique digital asset recorded on the blockchain.

There are five rarities of NFT sneakers: Common, Uncommon, Rare, Epic, and Legendary. Higher rarity sneakers have better base attributes, allowing users to earn more GST and GMT.

Key Mechanics and Features of STEPN

STEPN combines cutting-edge blockchain technology with mobile features to deliver a precise and fair activity tracking system.

Accurate Activity Tracking via GPS

STEPN leverages GPS (Global Positioning System) for high-precision tracking. Data such as distance, speed, and exercise time are accurately recorded and used to calculate rewards.

The platform also includes an anti-cheat system called SMAC, which analyzes GPS and acceleration data to detect fraudulent activity. By using built-in smartphone sensors, STEPN ensures accurate monitoring of actual physical movement.

Energy System and Reward Calculation

The energy system in STEPN limits how much you can earn each day. The maximum available energy depends on the number and rarity of sneakers you own.

Each unit of energy allows for 6 minutes of exercise, and each sneaker provides 2 energy units. Rewards are calculated as “energy consumed × sneaker efficiency × time coefficient.” Exercising within the optimal speed range yields the highest returns.

The Four Sneaker Types and Their Optimal Speeds

STEPN offers four sneaker types, each designed for different activity styles. Every type has an optimal speed range—exercising within that range maximizes GST earnings.

• Walker: 1–6 km/h, earns 4 GST per energy
• Jogger: 4–10 km/h, earns 5 GST per energy
• Runner: 8–20 km/h, earns 6 GST per energy
• Trainer: 1–20 km/h, earns 4–6 GST per energy

Choose the sneaker type that fits your exercise habits to maximize GST earnings.

Sneaker Attributes

Each NFT sneaker has four core attributes affecting gameplay. When leveling up sneakers, you can allocate points to enhance these attributes as you see fit.

• Efficiency: The key attribute that determines GST earnings per unit of energy
• Luck: Influences the frequency and quality of mystery boxes
• Comfort: Impacts GMT earning and the rate at which HP decreases
• Resilience: Reduces sneaker durability loss

How to Get Started with STEPN

To begin with STEPN, you’ll need to go through several steps, from downloading the app to buying NFT sneakers.

Step 1: Download and Register on the STEPN App

Download the STEPN app for free from the App Store (iOS) or Google Play (Android).

Once installed, create an account using your email address. Enter the 6-digit verification code sent to your email to complete registration.

Step 2: Obtain an Activation Code

An activation code is required to start using STEPN. Get one from an existing user or for free from the official Discord community.

The “Get your activation code” channel on the official Discord regularly generates new codes. Codes may also be distributed on Twitter and other social media, but selling codes is strictly prohibited—always acquire your code for free.

Step 3: Create a Wallet and Set Up Security

After entering your activation code, create a wallet within the app. This digital wallet stores your NFT sneakers and earned cryptocurrencies.

Set a 6-digit passcode, and write down the 12-word seed phrase displayed—store it in a secure location. You’ll need this seed phrase to recover your wallet if you change devices.

Step 4: Buying NFT Sneakers

To play STEPN, purchase NFT sneakers from the in-app marketplace. This requires GMT (Green Metaverse Token).

First, obtain GMT from a cryptocurrency exchange and transfer it to your STEPN wallet. Then, select and buy sneakers from the app’s marketplace.

Step 5: Start Exercising and Earning Rewards

After purchasing NFT sneakers, you can start exercising with STEPN. Open the app, select your sneakers, and tap “START.”

Exercise outdoors in an area with a strong GPS signal, maintaining the optimal speed range for your sneaker type. After your workout, check that your earned GST is reflected in your wallet and continue exercising to earn more rewards.

Risks and Cautions When Using STEPN

While STEPN is an appealing app, you should understand the associated risks before using it.

Initial Investment Required

You’ll need to make an initial investment to buy NFT sneakers to start STEPN. Sneaker prices range from a few thousand to several hundred thousand yen, fluctuating based on market supply and demand.

The primary risk is that you may not recoup your investment. If sneaker values or GST/GMT prices fall, expected earnings may not be realized. It’s best to start with a low-cost Common sneaker to understand the system before investing more.

Cryptocurrency Price Fluctuations

GST and GMT are cryptocurrencies whose prices can be highly volatile. GST has seen both high peaks and sharp declines in the past.

Price swings directly impact the real-world value of your GST earnings. To manage this risk, consider regularly converting some tokens to more stable crypto assets.

Buying or Selling Activation Codes Is Prohibited

STEPN strictly prohibits the sale or purchase of activation codes. Paying for a code violates the terms of service and can lead to account suspension or deletion.

GPS Signal and Exercise Speed

STEPN depends on GPS reception, which can significantly affect your rewards. Signals may be unstable in areas like city centers, underground, or indoors, potentially leading to inaccurate tracking.

Each sneaker type also has an optimal speed range—if you exercise outside this range, your rewards decrease sharply. For best results, exercise in open areas like parks or riversides.

STEPN’s Future and Latest Developments

STEPN continues to innovate as a leader in the Move to Earn space.

Backed by Leading Venture Capital

STEPN is funded by top global venture capitalists, including Sequoia Capital, Folius Ventures, and other major funds experienced in crypto investments.

Collaborations with Major Brands

STEPN has partnered with world-famous brands. The collaboration with Adidas, for example, created new value by merging NFT sneakers with a real-world sports brand.

Other partnerships, such as with Snoop Dogg and Casio’s G-SHOCK, have attracted attention. Recently, STEPN also partnered with the Argentine Football Association (AFA), offering the AFA-authorized Genesis Sneaker Collection, exclusive NFTs for soccer fans, and real-world rewards like match tickets.

The Launch of STEPN GO and New Features

In May 2024, STEPN GO launched, transforming the original STEPN into a social lifestyle platform. The most notable addition is the NFT sneaker rental feature.

This rental option allows newcomers who can’t afford the upfront investment to try STEPN. New features like friends, real-time chat, and the “Haus System” community hub further encourage user engagement.

STEPN GO is also introducing the GGT (Go Gaming Token) for activity rewards and will add a PvP mode where players can earn GMT by competing.

GMT Pay and Enhanced Practicality

Recently, STEPN’s operator partnered with Mastercard to launch “GMT Pay,” enabling users to spend GMT and GGT directly at Mastercard merchants worldwide.

GMT Pay offers virtual cards from $50 to $300 and supports Apple Pay and Google Pay integration. This innovative service lets users spend earned crypto directly at merchants like Amazon, Spotify, and local cafes.

Supported countries are expanding, so always check the latest information on supported regions and terms before using the service via the official site or app.

Frequently Asked Questions

How Much Does It Cost to Get Started?

The initial cost for STEPN depends on the sneakers you choose. Basic Common sneakers start at around 5,000 to 15,000 yen.

Higher rarity sneakers cost more: Uncommon typically runs 20,000–50,000 yen, and Rare sneakers are priced between 100,000 and 300,000 yen.

Can You Really Earn Money?

You can earn with STEPN, but earnings vary by several factors. Currently, using one Common sneaker yields an average of 4–8 GST per day.

It’s crucial to understand the balance between GST value and your operating costs. Also factor in repair costs, leveling costs, and the time needed to recover your initial investment.

Are There Security Risks or Scams?

The STEPN app is safely distributed through the App Store and Google Play, and is a legitimate application. Its developer, Find Satoshi Lab, is backed by major venture capital, ensuring corporate reliability.

Still, beware of scams outside the app, including unauthorized activation code sales and counterfeit sneakers.

Does Cycling or Train Travel Count?

STEPN is designed for walking and running only; cycling or riding a train is generally not counted. Each sneaker type has a specific speed range, and movement well beyond that range isn’t recognized as exercise.

STEPN’s SMAC anti-cheat system analyzes GPS and acceleration data to distinguish between walking/running and vehicle-based movement.

Summary: STEPN Delivers Both Health and Earnings with Move to Earn

STEPN combines physical activity and crypto rewards through an innovative Move to Earn model, allowing users to improve their health while earning assets.

Key STEPN Takeaways:

• Earn GST and GMT crypto by exercising with NFT sneakers in a Move to Earn system
• Requires an initial NFT sneaker investment of 5,000 yen up to several hundred thousand yen
• Supports multiple exercise styles with four sneaker types
• Accurate GPS activity tracking and fairness enforced by the SMAC anti-cheat system
• Strong reliability through investment from leading venture capital

STEPN offers a platform for building healthy habits and entering the digital economy. With the right knowledge and risk management, users can establish exercise routines and potentially gain financial benefits.

FAQ

What Is STEPN and How Do You Earn by Walking?

STEPN is a Move to Earn app that lets users earn crypto rewards simply by walking. Purchase NFT sneakers and walk in real life—the app records your steps, and you receive GST and GMT rewards. Developed by Find Satoshi Lab in Australia.

What Do I Need to Start STEPN? How Much Is the Initial Cost?

You must purchase NFT sneakers to get started. The minimum initial investment is about 30,000 yen. You’ll also need a smartphone and an NFT wallet.

How Do I Choose NFT Sneakers in STEPN and Earn Efficiently?

Focus on rarity and stats when selecting sneakers. To earn efficiently, buy the right sneaker type and exercise consistently. Models with high Comfort and Resilience are recommended.

How Can I Cash Out GST or GMT Earned in STEPN?

You can exchange GST or GMT for stablecoins or fiat currency via a crypto exchange. Sell tokens on an exchange to receive fiat money.

What Are the Main Risks and Cautions with STEPN? Are There Scam or Loss Risks?

Major risks include crypto price volatility, NFT sneaker price drops, and rising repair costs. While scam risk is low, investment risk is high—participate with funds you can afford to lose.

How Is STEPN Different from Other Move to Earn Apps (Sweatcoin, Fitfi, etc.)?

STEPN is unique in requiring an initial NFT sneaker investment and is based on the Ethereum blockchain. Sweatcoin can be started for free with no upfront cost. Each app differs in blockchain foundation, reward system, and user experience.

Can You Use STEPN in Japan? What About Legal and Tax Issues?

STEPN is available in Japan. However, gains from crypto asset sales are taxed as miscellaneous income. You must comply with local financial regulations—consult a tax professional for details.