What’s Step App? Transfer-to-earn tech builds web3 pleasure forward of Tokyo launch

Step App, the cryptocurrency protocol rewarding customers for exercising, is launching its self-titled software on 1 December throughout an occasion in Tokyo.

Its convention is claimed to embody “Step’s aim to construct a bridge between Internet 3.0/metaverse and ‘the actual world’ through the use of health and well being because the frequent denominator”.

The Jamaican sprinter Usain Bolt might be each a key speaker and DJ on the occasion, which is sponsored by the Bybit cryptocurrency change,

Its web site implied that is the primary of many occasions. The location says: “This yr’s version of the Step App convention evolves across the launch of our fundamental app and is a kickstarter to a more healthy, wealthier international group. This occasion is a celebration with and for our whole step group.”

What’s Step App? 

Step App is one other cryptocurrency platform that’s gamifying the health {industry}. Described as health finance (FitFi), it’s rewarding customers with its native tokens for strolling, jogging and working.

The platform has giant ambitions for its fundamental app, which is launching later this week. Step App is trying to grow to be the “dominant FitFi app from the get-go”.

To realize this aim, it’s trying to onboard a considerable amount of retail prospects and “construct a large community for health influencers”.

STEPN’s success

Stepp App has its work reduce out in terms of competitors. The move-to-earn platform STEPN paved the way in which for the {industry} earlier this yr and has already seen preliminary success.

STEPN (GMT) has welcomed greater than 4.72 million worldwide customers and raised $5m from buyers. The Internet 3.0 app has additionally collaborated with many high-profile companions, together with the sportswear model Asics.

Step App’s system follows the same consumer course of as STEPN, the place buyers buy upgradable NFT (non-fungible token) sneakers and earn cryptocurrencies in-app.

GMT to USD

Bearish motion tokens

One other similarity linking the 2 move-to-earn platforms are their bearish native tokens with each seeing vital losses all through this yr.

On the time of writing, STEPN was down 90% from its all-time excessive of $4.11 on 28 April.

It was the same story for Step App, who misplaced 94% since its all-time excessive of $0.73 on 6 Could 2022. It additionally not too long ago stooped to its all-time low of $0.02 on 21 November.

Nonetheless, the cryptocurrency has been rallying this week on the lead as much as its Tokyo occasion. As of 30 November, Step App was buying and selling at $0.04 and up 30% up to now seven days.

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