STEPN: Creating a Greener Web3

The other side of NFTs

Over the past year or so, NFTs have gone mainstream, dubbed by some as part of the Web3 movement. While enthusiasts are very optimistic that Web3 will change the Internet, some people with insight into the downside are warning about it.

The most serious of these are sustainability issues, with higher temperatures, more severe storms and more severe droughts, and climate change has already changed irreversibly. Just this year, the IPCC 2022 report assessed the need for urgent action to mitigate extreme weather conditions that are already wreaking havoc on Earth’s ecosystems. And the energy consumed by crypto mining is much talked about.

What can startups do? The NFT market has gained tremendous momentum over the past few months, and projects can do their part to mitigate impacts, reduce energy usage, and encourage users to be aware of the climate impact of their actions.

Greener Web3

STEPN is trying to be a part of it and wants to do more. Earth Hour provides us with an excellent opportunity to highlight our efforts to achieve carbon neutrality.

STEPN is a Move to Earn app that rewards users for moving outdoors. To earn tokens, users buy digital sneakers from its NFT marketplace and walk, run, or jog outdoors. By combining real-world activities with digital games and achievements, STEPN has designed a powerful app that motivates daily use and encourages healthy habits.

STEPN: Creating a Greener Web3

Beyond fitness, STEPN also works to offset its impact on the environment. Let’s see how STEPN works:

STEPN is built on the Solana blockchain

We all know that Bitcoin and Ethereum require huge computing power and energy consumption systems because their consensus mechanism is Proof of Work (POW) – in other words, using computers to solve complex mathematical problems. This requires a large number of servers all over the world, consuming a lot of power.

Solana, who built STEPN, uses POS—a newer, much lower-energy system that revolutionizes POW systems. For example, Ethereum is said to switch from POW to POS sometime next year, which some believe will reduce Ethereum’s energy consumption by as much as 99%.

What’s more, overall, the Solana Foundation has devoted significant resources to reducing its impact on the environment. Last year, Solana announced it was carbon neutral. And with plans to remain carbon neutral through 2022, its website pledges to work on “monitoring and minimizing Solana’s energy impact—and ensuring the Solana ecosystem remains efficient.” They even hired energy and climate consultant Robert Robert Murphy provides consulting and expertise in its efforts to go green.

carbon offset

STEPN plans to donate a portion of its Treasury profits to buy carbon offset credits on the blockchain. In the spirit of empowering users, GMT holders will be able to vote on how much money will be donated to offset carbon emissions. Others who want to donate more can also donate their GST income to the purchase or burning of carbon credits, which is entirely voluntary.

In the future, STEPN will also partner with climate innovators in Web3, such as Nori, a carbon offset marketplace that helps brands offset their environmental impact. In short, the marketplace allows anyone to calculate their carbon footprint, buy carbon offsets directly from farmers, and then compensate third-party validators who review the offsets.

healthy people, healthy planet

Lastly, STEPN has also made a huge impact on the health and fitness of its users – more than 200,000 users today. By combining the power of Move to Earn, gamified fitness, and Web3, STEPN has the potential to drive large numbers of people into the healthy habit of running and walking every day.

Why is this important? Well, planetary health and human health are inextricably linked systems—an improvement in one system will necessarily correlate with, and have an impact on, an improvement in the other.

It is clear that adverse climate impacts can negatively impact our health. For example, air pollution kills millions of people every year, and healthier people lead to a healthier planet. Research shows that a greater focus on personal health can have a knock-on effect when it comes to focusing on environmental sustainability. The actions of the two often go hand in hand. For example, the younger generation expresses more desire for healthy, sustainable living than any other generation.

STEPN: Creating a Greener Web3

What’s next?

Climate change is one of the most pressing issues of our time. Sometimes Web3’s behavior can backfire, but not always.

Everyone can make a difference, and it usually starts with smaller steps, whether it’s raising awareness or making greener choices. While its primary mission is to improve the health of millions of people around the world, STEPN is also committed to making green choices and conducting proper due diligence to ensure we care for the planet. 

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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