Move to Earn: BILLION dollar potential in 2022? Predictions and Analysis (StepN $GMT)

This month is special because there was an insane amount of interest in the move to earn space. This is largely led by Stepin. So if you look at Stepin chart, the GMT coin, it shot up from around 70 cents all the way to $2.60 at this current point. It's been a ridiculous ride for the entire ecosystem too because other coins that are in the move to earn space just like massively shut up. It doesn't take a genius to figure this out. Look at this. Those on March the 30th, it shot up from around 8 cents all the way up to 20. And then this is kind of echoed in a lot of other coins like Genopets here. You can see the same trend happening right around kind of the end of March and same goes with move. So all of these coins are move to earn. They all involve some form of moving around. So just like either running or hit or kind of working out with an influence or some sort of fitness application and then earning a coin with it. Now, you might say this is one week old news, right? Why bother talking about it? Michael, why don't you just tell me about this a little bit earlier so I can get in the wave and then just cash out, right? That's probably the best strategy for something like this. However, I think it's very important to talk about the trend overall because move to earn is something of a rather, I would say, even over tried phenomenon. People tried giving out coins for fitness, but it didn't really work before. Why is it working now? So in this video, we're going to take a deep dive into both Stepin and the move to earn craze. We're going to talk a little bit about what Silicon Valley investors are doing right now. And of course, we're going to talk about, you know, what I think of Stepin and this whole move to earn genre. Is it going to be an entire ecosystem or is it just a passing fad? And I will try to attempt to answer everything in this video. So make sure you stick till the end to get a very balanced opinion about this whole topic overall and how you can benefit from it. And of course, if you like this video, make sure you click the thumbs up button down below and the subscribe to this channel. We produce content like this on a weekly basis and it'll keep you up to date on all the trends that's happening in crypto. I'll just disclose fully. I did not invest in Stepin, but I did invest in Genopets and other move to earn projects. Now, let's start off with just looking at the juggernaut. First of all, that is Stepin. So Stepin is a move to earn app. It's basically running. Once you run, you start earning different cryptocurrencies. Right now, it's sitting at a walloping $1.4 billion market cap. I think this is such a mind-blowing figure for something that is so new and it's just kind of growing. So it's getting a ridiculous revaluation for its currency already. Now, if you just take a look at the app, I actually have the app downloaded. I would also like to thank Leslie at GBV for providing me with an invite code to get into this app because right now you actually have to fight for one of these codes. So the app itself is quite simple. So this is the just login interface. It's the first page. And you have to equip a sneaker in order to run and earn. So let's just take a look. I don't really have a sneaker at this current point. You actually have to buy one. If you don't have one, you have to buy one on the open market. And the cheapest one here is 9.25 Solana. So that's actually quite expensive. That's over $1,000 USD for a simple digital shoe. So I find this, yes, again, right now it's quite exclusive. It's for the whales right now. It's not targeting the average user. But they will have a rent feature coming up soon for them. So the idea here is to buy a shoe that suits you. So every shoe has some key statistics. Like, say, for example, the first shoe up here is a runner shoe. It's got three foots on there. It's for running. And they actually define running within a certain speed range. So you can't really, you know, kind of fake that. So this is really dedicated for running. There's also joggers for less speedy people and walkers. So any tour private movement is captured there. And they've also gamified it there. So they kind of promote. So buying a certain shoe promotes a certain type of activity. And of course, if you do both activities or all three activities, if you run, walk, and jog, well, maybe you should buy three shoes. And that would net you. Well, that would make you spend around $3,000, which is kind of ridiculous. Now, in terms of the gems as well, they also have a gem system to also further gamify everything where you can equip gems to kind of improve your shoe as well. So you get more rewards. Now, how this works is once you equip the shoe, okay, how to play, is that you can start running and earning the coin GST. So the initial currency GST is for just for leveling up. It's not really the tradable one. And the final one, GMT, this is when you finally reach level 30, your max level, you can start trading that for USD. So you can start actually earning by running. So now let's move to the interesting stuff, which is why is this getting so much attention? Why is this starting this whole move to earn trend or revolution, as you call it? Now, the biggest reason is pretty simple. It's because Silicon Valley is jumping headfirst into crypto. Stepin is backed by Sequoia Capital, the biggest VC fund. Well, the biggest name is Silicon Valley right now. It's one of the leaders in the space. And Sequoia recently established a $5 million fund just for cryptocurrency projects. So we also see Bain Capital very quickly after Sequoia launched this crypto fund. Bain Capital also launches a $560 million one just to top Sequoia up a little bit. You know, we're $60 million more. And that's Bain for you. And you can see that with the other funds as well in Silicon Valley. Now, obviously, these funds, they own a lot of money. So like, you know, Bain is $155 billion investment fund. So it's a situation where finally we're seeing large institutional capital moving into cryptocurrency space. Now, Stepin is perfectly positioned for that because it really targets some of the major keywords in here. Sure, it's crypto. Sure, it's Solana. But more importantly, it's selling to Bain messages. One is that it's doing better for the world. It's running. So no, it's not like it's going to burn electricity or something and make the world a worse place. It's targeting and trying to make the world a better place by making people greener and running and walking. The second thing about why kind of Stepin is really attracting their money is because of Web3. So Web3 has really become this kind of big keyword that everyone's like loving right now. Oh my God, Web3, right? It's exciting. It's hot. And if you look at all the press releases and where they want to go with Stepin is that they want to target Web3 in a very hard way. Pretty much every single article I read about them covers Web3 and how they're going to revolutionize Web3. So now other factors also include the cryptocurrency market. We kind of see that in this current phase in crypto, there's an exhaustion on NFTs. There's an exhaustion on just normal games. People are looking for something new. People are looking for something that's wildly different, something that people can bring mass audiences into the space. And the whole crypto community just wants something different. That being said, this is also a warning as well, because the downside of having so much attention is, of course, hype and maybe somewhat irrational hype on this. So if you just look at the price, it started off launching at 10 cents with going all the way up to $2. That's already a 21x return. That's kind of insane already. But more importantly, if you actually look at the raise of Stepin, you can actually see some more insanity. So yeah, the public sale on Binance was at one cent. Okay, so it's already 200x from there. And then what's even crazier is that the private sale done a little bit earlier. This is the one that sold to all the funds like Sequoia, etc. on there. That's done at half a cent. So it's like 465x. It's utterly insane. These numbers are crazy from this point. So this is going to show... This really blows my mind at how fast this space can move and how much hype there is already on this market. And I do want to put a warning out here. Right now, the current circulating supply is around 10%. So there's another 90% of tokens to be distributed in the future time. So this is where things do get a little bit scary. And this hype, I feel like the hype train should be a little bit careful of this. Because right now, at 465x, investors can cash out and make a very huge killing on their initial investment. So yeah, that could come a little bit later. So you can kind of see this, a drops tab. You can see that around 2023, so in one year's time, those coins could release. And slowly, as these coins release, it could cause investors to exit their investment. Now, lastly, of course, we want to talk about Move to Earn in general. So we saw the excitement. We see what's happening. We see the funds coming in. Now, Move to Earn, is it special? Is it interesting? Does it have something backing it? Is it going to sustain these billion-dollar valuations? Honestly, I actually think yes. All right. Why this is interesting, I think, is because Move to Earn can bring a huge number of people in. I think this is quite obvious from Axie Infinity, where Play to Earn brought a huge new population of people, both into cryptocurrencies and, of course, into this whole gaming GameFi ecosystem. I actually see Move to Earn to becoming something similar to that. I see that movement is universal. Everyone can move. Now, movement by itself doesn't get rewards, right? The reward is personal, right? If I run, fine, I lose some weight, but I'm not going to change the world in any way. However, I do see what can drive Move to Earn and what can make this work is the advertising potential of Move to Earn. Because if you look at what Pokemon Go was doing, that's kind of the AR experience, the game that allows people to move, it allowed advertisers to kind of put gyms up that are like a Starbucks gym and people go to Starbucks. It influences their behavior. Now, when you're moving and when you're training, you're very vulnerable to advertising. And I can say this from experience. I recently tried to start losing some weight and I went on keto. I started working out a little bit more so long as I can go out. Well, at these points of times, I'm starting to spend a lot more just both time and also money on either keto foods or fitness foods or health foods, supplements. And that's a big market to capture. And I think this is where Move to Earn can come in. So Pokemon really started tapping into that now, you know, making people walk to Starbucks. But maybe Stepin can advertise and just make me walk to the next keto shop to buy keto foods. You never know, right? So I see this as a huge marketing potential. Everyone wants to get healthier. There's a lot more money going into this. And I feel like this is kind of the fuel to funnel or to fund all the Move to Earn stuff. Because it could be super localized. It could be super powerful. Well, I feel like this is kind of the long-term kind of space for that. So even though right now, yeah, Stepin is very focused on the shoes and the NFT space, I feel like that's kind of where the long-term vision is to go. Where you can influence behavior, you can influence the spending habits. And of course, you can attract advertising dollars to it. So I definitely see Move to Earn to becoming something new. I want to explore it more on this channel. And I want to hear what you guys think as well. Do you think, have you ever tried Stepin? Have you ever got into this Move to Earn? Do you still think it's a little bit niche? Or are you diving right into it? I'd love to hear your comments in the comment section down below. I hope you guys all enjoyed this video as well. If you guys enjoyed this video, make sure you click the like button down below. And of course, click the subscribe button to this channel so we can see more content like this in the future. Thank you so much for watching. See you next time.