All of us are well aware of the intensity of the move2earn trend. And there is no question that StepN is the most formidable rival in this industry.
Since March, most of us have been using StepN in some capacity. And we did not know about Tracer until a few days ago when we learned about it through their community.
In the course of working on this project, a few aspects stood out to us, and I will discuss those with you in further depth in the following paragraphs.
Tracer is an app that, like many other move2earn applications, rewards its users with tokens when they exercise outside. You may earn $TRC by jogging or walking, and $TRC is the utility token of TRACER. There is a limitless supply of $TRC. In the same way as Step N, you can earn GST even if you have a limitless supply.
The primary distinction is that to begin earning GST with StepN, a pair of NFT shoes must first be purchased. At the time of this writing, the floor price is 68 dollars, equal to 2 sol. While in Tracer, we learned there is a way to generate money to allow us to get NFT shoes without spending any money.
How is that so?
You may enjoy most of the app’s features while using the Free to Play option, which Tracer provides. This has a significant capacity to entice widespread utilization.
Where’s the catch, if there is one? You are required to view advertisements, and your earnings will be significantly lower than those of shoe holders.
There is also a raffle that is periodically organized that is exclusive to non-shoe holders so that non-holders can have the opportunity to engage in a shoe NFT raffle among themselves. The name for this type of game is “T-raffle.”
You need T-tickets to qualify, and the number of tickets you need depends on the run day, your streak, the overall distance you run, whether you are a TRC holder or a NEAR holder, etc. In their whitepaper, all the relevant information is laid forth.
More information for non-shoe holders:
- When did walking or running become a kind of exercise that costs money?
- People do not need to purchase shoe NFTs to take advantage of TRACER.
- Users who do not have shoe NFTs can still use most of the capabilities they offer.
- TRACER was developed so that individuals may enjoy themselves when they are walking or jogging.
- The free-to-play principles of TRACER make it feasible for web3 to have widespread adoption.
- Even if you don’t have a shoe, you can still EARN, but you have to view advertising first.
- Long-term viability for TRACER is achieved by utilizing sustainable web2 business models.
- Watching commercials isn’t simply a waste of time; it significantly contributes to the whole system.
T-Raffle: Regularly held TRACER NFT shoe Raffle
- A shoe NFT raffle among non-holders is open to participation from just those who do not currently own a pair of shoes.
- T-tickets are required for those who want to take part in the sneaker NFT Raffle that is being held.
- T-Raffles are held on a consistent schedule, but the quantity of shoe NFTs awarded at each T-Raffle varies dynamically based on the number of participants who do not possess shoes.
There are several different ways to obtain T-tickets, including the following:
- Run Day Count: Run day count is the number of days in which the runner did not wear NFT shoes and ran for at least five minutes.
- Streak: The number of days in a row a runner has completed a run of 5+ minutes without using NFT shoes.
- Influencer: Number of invitations to the TRACER app received through referrals
- Total Distance Run: The sum of the distance covered while wearing NFT shoes and without them.
- TRC HODLER: The average daily quantity of TRC that a TRC HODLER is carrying without NFT shoes
- NEAR HODLER: The typical amount of NEAR holding performed each day while barefoot or wearing NFTs
- The Watcher: The Keeper of Watches Amount of time spent seeing advertisements as a whole
- Tier Tickets: Users in higher tiers receive a greater or lesser number of tickets each week, depending on their level.
Aside from the fee required to participate in the game, one of the most significant changes in the shoe type is the subject of the first inquiry you are prompted with when you enter the in-app marketplace: which shoes are the best ones to pick from?
StepN has four distinct shoe types, each with a unique speed range. To accumulate the most points possible, you must maintain a speed that corresponds to the type of shoe you are wearing.
They are Walker (1–6km/h), Jogger (4–10km/h), Runner (8–20km/h) and Trainer (1–20km/h).
Choosing the right pair of shoes may be challenging. Because they cannot sustain their pace over the long term, most users eventually wind up switching out their primary shoe.
Tracer, on the other hand, has only one shoe style available, and its speed range is from 1 to 20 kilometers per hour. My impression is that there is only one size available. However, the ideal range for maximum TRC revenue is between 8 and 13 kilometers per hour.
You don’t have to spend excessive time picking out the appropriate shoe, and then, later on, you can find that you need to switch to a different one, as I mentioned previously in the context of StepN.
The reason for this is because Tracer places a high priority on receiving proper medical treatment. “Users continually have to check their screen while jogging, which might be harmful in some instances,” it was said in the whitepaper.
Following that breeding (minting). It can be risky if the project cannot regulate breeding. And that may result in a significant rise in the game’s NFT inflation and a steep decline in the ecology.
StepN is placed in a predicament where there are currently many unused footwear options. And because minting was no longer lucrative, this resulted in a steep drop in the floor price over a very short period. Moreover, this led the price to drop swiftly.
Burning shoes and minting scrolls are both practices that have been employed as part of the initiative to maintain control over the availability of shoes. However, it is possible that its too late because even after all of those features, even though hundreds of thousands of shoes have been burned (according to their community manager), and scroll is now an additional requirement to mint, floor price still fall, many excess shoes are still in circulation.
To go further, the process of minting cryptocurrency is now unprofitable. And that is one of the reasons why there are not too many individuals participating. This leads to an essentially non-existent level of GST burning, ultimately resulting in the famed “death spiral.”
Tracer, a later project to arrive on the move2earn scene, has taken note of this error and chosen against implementing the breeding system as a result of what it has learned.
According to what is said in their whitepaper, the quantity will be severely limited if they do it in the future. In our view, this is an exceptionally clever course of action. Which begs the question: how do they manufacture the supply for their shoes?
Good question. According to the whitepaper, they said that “After the minting of genesis NFT shoe components, breeding is now inaccessible in TRACER.”
Participating in the T-Raffle, a regularly scheduled TRACER shoe component NFT raffle is the only way to acquire additional shoe parts for your TRACER shoe collection.
At every raffle event, the quantity that is delivered is dynamically decided by several elements. One of which is the number of people who do not have shoes.
Regarding this raffle portion, we have already explained how you may earn without purchasing anything. If you are unsure about anything, please scroll back up and read it again.
To continue with the comparison, let’s look at the shoes’ visual.
In StepN, the artists create the shoes in a 2D form. However, in Tracer, you can see that the shoes are in a form that is 3D composable.
According to the whitepaper, they asserted that “TRACER’s 3D NFT shoe is a composable NFT.” This implies that you have the opportunity to express who you are as an individual.
One shoe NFT comprises four separate shoe component NFTs and several other attachments! We think that for NFTs in M2E to have any chance of being sustainable; they need to have both practical and artistic value.
In the interest of full disclosure, neither one of us here at Tracer has yet had the opportunity to test out the app. However, we would much appreciate it if they allowed us to test their app so that we could view further in-app features and provide you with additional comparisons on the way the game is played.
StepN is a mobile application developed by FindSatoshi Lab and based on the Ethereum rival known as Solana. StepN is a smartphone software that allows users to earn money by walking, jogging, or running for a predetermined amount of time that resets once every twenty-four hours.
The prizes are awarded in StepN’s native cryptocurrency, the Green Satoshi Token (GST). They may be credited to a wallet generated within the game or imported from outside the game.
To participate in the game, players must first purchase NFT footwear. If they then upgrade their shoes, they can increase the amount of GST they make every session.
The shoes, which are transferable on secondary marketplaces despite being non-fungible tokens (NFTs), already attract exorbitant values that range from $400 to $100,000.
How does StepN work?
Two aspects are essential to comprehending how StepN operates. The first is the shoe, which significantly impacts the amount of money a player may make and helps explain why some of these NFTs are sold for such exorbitant sums of money.
Similar to how, in a regular roleplaying game, you can level up your armor so that it may better withstand various types of attacks. Throughout StepN, you will be able to upgrade your shoe to improve any one of its five different features.
1. Resilience, which reduces the rate at which wear and tear occurs (and diminishing returns)
2. The element of luck, which raises the odds of winning a reward at random throughout a session
3. Comfort, which encourages the consumption of another type of token known as GMT and has to do with governance
4. Efficiency raises the total amount of GST earned relative to the total amount spent on “energy.”
This takes us to the second essential component, which is Energy.
On StepN, the unit of time allotted to a player for a move-to-earn session is called Energy, and one unit is equal to five minutes of playtime. Every participant begins the game with only two energy units, replenishing once every twenty-four hours.
This indicates that novices are only given 10 minutes each day during which they have the opportunity to earn GST. Additionally, the app will check if you are traveling at the proper speed about the type of footwear you are wearing.
In conclusion, StepN and Tracer have significant potential to become the top lead move2earn project. Right now, StepN is unquestionably operating in its most precarious stage. And the slightest misstep on the part of the developers may be enough to kill it off.
The StepN group has reached a critical juncture, with many unfulfilled promises and lost confidence. The impending release of 3rd Realm by StepN is a potential last-ditch effort to reverse the current trajectory of events.
However, it will be a very difficult uphill struggle for the squad as a whole as well as for the individuals individually. Tracer, on the other hand, is not even close to being finished at this point. However, it has the benefit of learning from both the successful and unsuccessful aspects of previous M2E systems already in existence.
It has the potential to become the next big thing in the M2E scene if it is supported by a community and a team who are both excited about the project.
A project with as much potential as Tracer is one that I wouldn’t want to pass up on participating in. However, as with anything about crypto, you are responsible for conducting your study and coming to your conclusion.
Disclaimer: All info above is based on Tracer’s whitepaper (found at: https://whitepaper.tracerofficial.com/) which is all subjected to change in the future.