Stepn, a Web3 lifestyle app with social & game elements is telling its success story. This release is a show of excitement and appreciation for all the support and engagement it received from its community members. Seeing its project in the beta phase is indeed a dream come through.
— STEPN | Public Beta Phase IV (@Stepnofficial) May 3, 2022
The past couple of months has been anything but easy for Stepn. As such, it is not surprising that it is sharing the story of success. Its growth has been quite astronomical. Recently, it was invited to CryptoBahamas, a top industry event featuring thought leaders like Sam Bankman Fried, Bill Clinton, Tony Blair, etc. This was where it shared the story, emphasizing the love the project gets from its community members.
Details of the Stepn Success Story
After launching its public beta six months ago, it has developed significantly. It has a community of no less than 2.3 million users, with over 500 thousand active users. On the 30th of March 2022, the trading volume of GMT exceeded those of Bitcoin and Ethereum.
Factors Driving the Project
Unlike other blockchain-backed projects, Stepn is not a product of luck. There is a very strong foundation that is driving its growth. Below are some of the factors which are very core:
- A Crypto App with diverse and mass appeal: Quoting the words of Nat Eliason, an online writer and web3 consultant “I have never seen a crypto application generate this much outside interest”. It is offering so much, yet in very simple forms. As a result, even those with no crypto experience are giving it a try. The fact that users do not need to understand any complexities is driving adoption across a wide range of people. More so, they are dabbing into this app in huge numbers.
- Changing Health and Fitness for the Better: there is no doubt as to how important health is to us all. More so, the challenges of staying healthy are equally numerous. There have been many propositions in the past to solve this problem. However, they have been largely ineffective and/or expensive. To curb this problem, Stepn is incentivizing exercise by pioneering a “move-to-earn”. By doing so, they are encouraging people to take their health more seriously.
- Learning from past lessons: despite its supernatural growth, this project is not getting carried away. It understands that anything is possible. As such, it is learning from examples like the 1997 Asian financial crisis. It is also learning from Axie Infinity, where SLP dropped in prize despite the game growing significantly. As such, Stepn is focusing on providing a fun and addicting experience. Instead of an opportunity to win tokens and other NFT rewards