Earning passively was a huge narrative in 2021; trying to work out how to generate yield in the crypto environment was all the rage, and DeFi ended up being at the forefront of this trend.
A lesser-known sleeping giant also existed in the move-to-earn format, essentially gamified exercise. STEPN led the race in this sector.
What is STEPN?
STEPN is an app that is connected to the blockchain. It allows you to earn on your movement, be it walking, jogging, or running.
The core concept is that the longer you run and the further you run, the more GST (the STEPN earning token) you will receive. GST is an infinite mint token and is used for many upgrading options in-game, such as leveling up and repairing your sneakers.
Sneakers are NFTs that allow you to take part in the STEPN world. These NFTs can be bought on the in-app marketplace, and you must ‘equip’ these sneakers in order to earn GST. The more sneakers you own, the more GST you are able to earn in a single session.
Without moving too much more into the STEPN system, many people have managed to make a passive income from their daily running, with those who are fully engaged with the system making up to $100 a day. GMT is the other token from the STEPN ecosystem. This is used as governance and to purchase the sneaker NFTs, with future use cases yet to expand.
GMT Price Prediction
GMT has a fixed total supply. This means, unlike GST, which is infinitely mintable, the outlook for GMT price is fairly positive. The requirement to purchase GMT to gain access to the system, in addition to purchasing additional sneaker NFTs, has added steady buying pressure. After the initial hype that sent GMT above $6.00, the coin has suffered through the bear market of 2022. Recently it has gained a strong footing at over $0.35, which seems to be a zone of significant interest.
With the demand set to spike again when economic conditions soften and people again look to earn passively from their daily activities, GMT will likely return to an all-time high in a much more organic fashion. Analysts put a $6.00 price target on GMT.
Avorak AI
One of the downsides of STEPN is that the project still falls into the category of minting new tokens to provide yield. This has, in most circumstances, resulted in disastrous price action. At least in STEPN’s case, the minting is from GST and not GMT.
A project avoiding this issue altogether is Avorak AI.
This new crypto ICO is bringing a set of machine-learning tools that allow users to access a wide array of services, from image generation, AI writing, trading, and even eventually, automated architectural plan drafting. This will allow for a wide range of customers, both retail and enterprise.
The key point to this project is that they will also be providing passive income for AVRK holders. The key difference with the Avorak system is that this passive income comes from the fees paid to use the Avorak products. This is groundbreaking, as it means that it is one of the first cryptos to have a genuine product revenue stream that then routes some of that back to holders, in addition to having a deflationary token model by using a small percentage of the revenue to burn AVRK.
Analysts are incredibly bullish on this project, expecting buying pressure from both those wanting to earn passive income and also from individuals buying to use the Avorak products, a double whammy.
The launch price is $0.27, and 4 of 5 analysts have given a price prediction of over $2.90 by the end of 2023.
The current ICO price is at $0.06, but this will only last until the end of phase 1, at which point the price will increase, so those looking to invest would be better suited to invest sooner rather than later.
Want to learn more about Avorak AI?
Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/
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