cryptocurrency

MyTopSportsbooks journalist investigates profitability of sneakers being turned into profit

A journalist spent a month tracking his movements via a popular “Movement to Earn” app to answer the question “Can you make money using NFTs?”. Ashton Miller, journalist with MyTopSportsbooks, A website that offers reviews of the best sports betting sites on the web, spent A month of walking in non-replaceable sneakers. The virtual shoes, represented by the Move-to-Ear (M2E) (M2E) app, give the wearer a cryptocurrency for every step they take.

Miller’s investigative journalism involved using the STEPN app every day for a month and recording his progress and profitability. Along the way, discover M2E app mechanics and tricks to keep players addicted.

In order to start earning cryptocurrency with STEPN, users must make an initial investment which then aims to redeem it by walking or running. The STEPN app enables users to earn their original, GST and GMT tokens by playing sports after purchasing a digital NFT sneaker. Recovering this investment is difficult due to the mechanics of the game, which includes fluctuations in the price of the token used to purchase the sneaker.

Miller discovered that another mechanism that can make it difficult to achieve a return on investment is the way the game encourages players to spend the cryptocurrencies they earn. Users must repair their sneakers every time they “wear” them. They can also upgrade their sneakers in hopes of earning more cryptocurrency in the future.

One major finding from a MyTopSportsbooks journalistic investigation is that STEPN is making and modifying the rules seemingly on a whim, with no accountability. Application updates are frequent and often make recovering the initial investment more difficult. Miller found that errors often cost users encryption, with no way to hold STEPN responsible.

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