The move-to-earn has been the trend in the blockchain space lately, since the success of the StepN project – in which the native token (GMT) has gained a lot of traction. Many people have been interested in the move2earn project.
A similar project has surfaced which is StepApp, and many crypto enthusiasts are interested in the project and its token – Fitfi crypto.
The Fitfi Crypto token has increased exponentially by over 100% since its launch in the market, while the crypto market is declining. Hence, the search queries about the FitFi crypto are at their peak and many people are eager to know if it’s a good investment or not.
In this article, I will give you insight into detail about StepApp and also let you know if the Fitfi Crypto Token is a good investment or not.
What Is StepApp?
The NFT economy has ushered a variety of altcoin sector bull runs. The most prominent of these has been the dominance of GameFi and metaverse products for much of 2021. The greatest performing assets of last year fit into these sectors.
FitFi is at the cross-section of making the physical and the digital; it’s a culmination of a very physical experience (fitness) within the metaverse, through the use of NFTs and geo-location technology. Augmented reality for better immersion is an added feature of Step’s FitFi metaverse.
Fitness Finance is a market economy in which participants earn from the value generated by the $100B fitness industry. It’s the web3 version of digital fitness experiences and apps.
Web2 allowed users to consume fitness content; to create fitness content. It pushed the value generated from their fitness content to the owners of those platforms.
GameFi is a similar culmination. Gaming is a $200B market where people consume and create for the benefit of a few. Web3 enabled everyone to earn a piece of that market they take part in. This became a reality with the surge of GameFi and play2earn.
FitFi and move2earn are defining points in bringing the massive fitness market to the people in a frame where they earn from it.
StepApp is an innovative blockchain project that allows users to earn when they are doing fitness activities tagged as “move-to-earn”.
Users are equipped with sneakers In the form of NFT to activate earnings for their fitness activities.
It’s a blockchain project that’s replicating the model of StepN but with improved features.
What Is FitFi Crypto?
FitFi token is the governance token of the Step App ecosystem.
FITFI is also a utility token in StepApp, it benefits from ecosystem fees. Users can stake FITFI tokens to earn rewards of up to 50% of the market-bought tokens.
Is FitFi A Good Investment?
Yes, FitFi is a good investment considering some fundamental factors.
What are the fundamental factors that make the FitFi crypto token a good investment?
According to the whitepaper, below are the metrics.
- Buy-backs: 50% of play income is used to buy FitFi tokens on the market.
- Burns: governance can vote to burn up to 50% of bought-back FitFi tokens.
- Staking Rewards: up to 50% of market-bought tokens are distributed to FitFi stakers.
- Locks: Staked FitFi tokens require a 10-day cooldown for exiting, and bypassing this cooldown carries a 12% fee on the principal stake.
- Liquidity Incentives: LP tokens get a 50% higher weight in staking rewards.
Additionally, the StepApp project followed the purpose of the DAO (decentralized autonomous organization) protocol to keep the project as open-source as possible as they don’t accept any venture capital investments.
Currently, FitFi token is trading on different cryptocurrency exchanges including Bybit, OKX, Bitget, etc.
Conclusion
The move-to-earn concept is relatively new in the blockchain space and it’s a very intriguing idea.
Alongside the move-to-earn project that will become the top project, FitFi might be among.
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