This transcript was generated from the episode audio and may contain minor errors.
[Music]
A couple of months ago, I wrote on my blog about my experience with the Web3 app known as Step-in, which pioneered the move to earn concept. Now this is a concept where you could acquire these virtual sneakers, go out and run or walk, and you get paid for it, which of course I thought was pretty amazing because I run every day. And most of the time I don't get paid for it. I just do it for my health, I guess, or I don't know, because I'm compulsive. So the idea that I could actually go and do my daily run and earn real money, or at least earn a token, which I could convert to real money, was pretty appealing, right?
They weren't a sponsor or anything. I just jumped in, I invested myself. So of course nothing is truly free because as I said, that investment word, to earn money in the form of tokens, you first have to invest in several pairs of those virtual sneakers. So I wrote about this in my blog, detailed review there. And a listener is wondering what the latest news is with Steppen, like how's that working out, as well as move to earn in general, because there are several other apps and platforms that have launched in this space or are launching soon.
So it's time for an update. How does move to earn work? Is this really real? Is this real? Is it really real?
Detailed answer is coming right up. [Music]
Hey Chris, this is Bradley and I've been following your projects for a while. I read your blog post about Steppen and how you were earning $200 a day from running. Is that still happening? I don't run, but I could walk a lot if someone paid me $200 a day for it.
What is this move to earn concept all about and can it still be sustainable for people entering now? Looking forward to what you have to say about this. [Music]
All right, let's talk about Steppen. Like I said at the top, this might sound like an ad, but it's really not. I have no affiliation other than wanting to jump into this myself.
I do some side hustles of my own. It has been in fact an interesting journey. At the height of the Steppen craze, I was earning more than $500 a day from it. That's after making an investment. I think it was about $12,000 in these virtual sneakers that I bought.
I wrote a whole blog post about this. So go to chrisguillebeau.com if you want to read the history. But unfortunately that peak was kind of short-lived. It was in fact the peak. The price of both Steppen tokens, GST and GMT, they both crashed more than 90% since then along with so much of crypto, of course.
So the good news is like, well, I am still earning some money from it. I think it's like $30 a day. So that's better than $0 a day. Got to pay off that investment though, of course. And the good news is that there are other apps and platforms entering the market.
And I do think more broadly speaking, move to earn, which is kind of like play to earn, like playing games, but earning money from it. Talked about that a bit here. Move to earn is going for a walk or a run or eventually some other kinds of exercise. I do think it'll be even more of a thing in the future for sure. Sometimes the first iteration of something isn't the best one.
So yeah, I'm still earning, but probably not retirement money, at least for me. Maybe one good thing is, once there's a big crash of something, then it creates a lower entry price. So you can try it for yourself without investing more than $10,000. Just, you know, the disclaimer, never spend money on something like this that you can't afford to lose, right? Very important, just keep it in mind.
And listeners, if you've got a question, sidehustleschool.com/questions, let me know what you're working on, what you're curious about, maybe what you've learned as well. I love to just share experiences with our global community, all kinds of awesome people out there around the world trying to make extra money without quitting their job. And by using the skills they already have, and maybe through something wild and crazy, like earning $200 a day or $500 a day or $30 a day, by running. All right, that's it for today, but I got a new episode coming out tomorrow. My name's Chris Guillebeau.
This is "Side Hustle School." [Music]
- From the Onward Project.
