Step App is the leading move-to-earn (M2E) application that blends fitness with gaming in a rewarding way. It is also the world’s first community-owned project, renowned for raising $2.75 million through the largest IDO on DAO Maker. Step App’s focus on continuous innovation recently propelled its governance token, FITFI, to the top-three M2E cryptocurrencies by market capitalization, taking over another popular app, Genopets.
In December 2023, the global M2E sector finally entered bullish territory. Its total capitalization recently surpassed $640 million dollars – a nearly 83% increase from $350 million recorded in May. Step App emerged as a standout contributor to this uptrend as its own market cap also doubled, rising from $8 million to nearly $17 million within the same period. As a result, it became the third-largest M2E project, outdoing its well-known rival, Genopets.
Top-5 M2E projects by market capitalization. Source: CoinMarketCap
As of February 2024, FITFI is trading at around $0.0067. The token saw a 4% surge over the past three months, with a 6% weekly increase supporting the ongoing bullish sentiment.
In his latest interview for Crypto Daily, Step App CEO Kirill Volgin discussed the project’s journey from its global launch in Japan, endorsed by sports legends like Usain Bolt, to the recent milestone in FITFI’s market performance. According to Volgin, Step App managed to grow “beyond just move-to-earn” due to enduring innovation, particularly the AI Workout feature and gaming functionality.
“So, Step App is basically a train-and-earn app that makes working out a whole lot more fun,” he concluded.
Diving deeper into the Step App ecosystem, Kirill emphasized that while Step App was the main product, their scope of unique offerings was constantly expanding:
“We have a wide range of products and projects such as Bridge, Launchpad, along with StepEX, our decentralized exchange; and the ecosystem is only going to grow.”
He further added:
“We’ve recently launched Step Wallet designed to make it easy and safe for Step App users to conduct transactions, such as topping up their accounts directly from their bank cards. Looking ahead, we aim to introduce trading capabilities, enabling users to exchange coins from any network into FITFI or KCAL.”
KCAL is Step App’s utility token earned from physical activity. Users can further spend it on purchasing in-game items like workout gear. On the heels of FITFI’s success, the team behind Step App is currently working on enhancing the utility of KCAL. As per Volgin, cryptocurrencies are not “just for the virtual world” – they are thriving once they provide people with real-world value.
“[Crypto] is making a real splash by letting you get things like Nike discounts with your gaming gains,” he explained.
In this context, Nike’s exclusive offers are not a conditional example. They are actually presented in Step App’s so-called Partners Marketplace, alongside diverse perks from other global sports and tech giants. The marketplace even features a travel category, joining forces with Tiqets, Booking.com, Trip.com, Hotel NYX Cancun, and Qatar.
The utility-focused strategy for KCAL has a positive impact on the token’s market dynamics. Over the past week, it has grown by more than 12% and is currently trading at around $0.16 apiece.
KCAL’s weekly performance. Source: CoinGecko
Moving on to the plans for 2024, Kirill stressed that this was going to be a big year for Step App:
“We’re not just thinking 10X; we’re aiming for 100X. And it’s not just about big dreams; there’s a goal and a plan, and that’s Step App’s ambition.”
He also spoke about introducing a range of Step-themed merchandise, including sneakers, tripods, and raincoats, as well as about crafting even more engaging gaming mechanics:
“We’re polishing our AI coach and rolling out an array of fresh workouts, from yoga to push-up face-offs—keeping your fitness game on point and engaging. Wellness isn’t taking a backseat in our plans too; we’re mixing it up with features for tracking habits, tallying your water intake and calories, plus tailoring goals just for you. You can bet we’ve got some killer upgrades in the pipeline that’ll seriously ramp up both the fun and value for the Step App community.”
Step App’s ambitious roadmap resonates with the overall market optimism regarding the future of the M2E sector. Based on expert predictions, it is well-positioned to hit $1.2 billion by 2028, with an annual growth rate of 18.2%. Some even speculate a spike to $2.47 billion by 2032 amidst the ongoing frenzy for high-tech wearables. Positioned at the intersection of the $1.5 trillion wellness market and the multi-billion gaming industry, M2E applications are at the core of a potentially highly profitable convergence.
