Jerry Huang, co-founder of the popular move-to-earn platform STEPN, explains how the project started, what makes it different from the competition, and where it’s heading in the future, in this new report from Chiliz News.
Move-to-earn platforms are a new form of GameFi that encourages players to stay active by rewarding them with crypto for every step they take.
Is it sustainable though?
How do these platforms compare to other Web 3 applications, and just how popular are they?
Find out from the co-founder of STEPN himself, in this new report from Chiliz News.
Since the dawn of video games, there have been concerns about the lack of exercise involved in playing, which may be resolved by the launch of new physical fitness-based blockchain gaming platforms, like STEPN, as Chiliz News explains in their new report.
Visit https://chiliznews.com/stepn-co-founder-jerry-huang-discusses-gamefi-new-user-numbers-app-demographics-sustainability to read the full report on STEPN, and everything Jerry Huang has to say on the topic.
While it was commonly believed that physical fitness and video games were entirely separate, the founders of STEPN plan to change that with their new GameFi platform. In the new report, Jerry Huang, the co-founder, explains that while people will start to exercise for the games, he hopes they will become accustomed to it over time, and begin to exercise on their own.
STEPN was originally introduced in October 2021, where it placed fourth in a competition and earned its first round of beta testers. The report explains that within the first few months, the application had become so popular that the company was forced to put limits on the number of new registrations allowed per day.
Jerry Huang explained in the report that while the project was initially self-funded, the team decided to seek outside investment later that year, raising $5 million from Sequoia Capital, and meeting with over 100 other potential investors.
While the new platform does not have triple-A graphics as you would see in many new games, Huang explained that high-end graphics are not necessary to craft a compelling game. The report details how the platform, like many popular Web 2 applications, uses simple graphics combined with complex gameplay and economics to draw in users.
According to Huang, tens of thousands of new users are joining the STEPN platform every day and generating Green Satoshi Tokens (GST) or Green Metaverse Tokens (GMT) for every step they take. The report goes in-depth to explain how you can use NFT sneakers to upgrade your in-game abilities and points, and how your NFT sneakers can be upgraded, traded, rented, or sold.
Speaking about the search for investors, Huang said, “We didn’t have a product at the time, and many investors couldn’t understand what we were doing. Sequoia did. The process of addressing investor questions also helped us refine the product to where it was later.”
While traditional games may have offered hours of entertainment in exchange for your hard-earned dollars, the new wave of move-to-earn platforms promise to pay you in valuable crypto, while helping you get exercise and make healthy lifestyle choices.
Visit https://chiliznews.com to learn more about move-to-earn platforms, and their long-term sustainability.
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