Make NFTs Great Again, From STEPN to STEPN GO - TOKEN2049 Singapore 2024

hi everybody my name is y and uh raise your hand if you hold nft anybody hold nft yes still have hope for nft no so today's session we're going to talk about how we can make nft great again that's taking our lessons from running steppen to our Caring Game step and go so first question why nft is no longer great why people think it's dead very simple we classified nft into two categories one is to do with productive nft meaning that it produce token the other is more like the pfp nft where it doesn't produce any token the issue with gy nft one Unlimited Supply there's nothing wrong with Unlimited Supply but if if you have limited growth then you will be into trouble you will get into this inflation people talk about Des Barrel you down now we talk about growth the issue with gamey or the whole game industry is is highly fragmented right you talk about RPG games people probably won't play the shooting games although we looking at the whole game industry is big but when you're talking about Pacific um J R it's not so big and even smaller for gamei the third issue with gamei is the white two people were really canot get in because they don't know where to buy the nft they don't know uh how to trade you know or just too Financial for them so that's a trouble now we're going to talk about what happened to the avatars you know people were wearing bardes or penguin last year what's wrong with them the issue is is the limit Supply you have a 3K collection 10K collection but if you want to grow your user base beyond that you cannot you're going to be in it to win it you know you're going to be holding the nft to talk about it that gets these holder into the echo chamber issue right they just talk to each other they cannot expand and also when one NFD become extremely popular you will see hundreds of similar look and that will drive down the brand premium right so if I can pay 10 cent of this boad a look NF why I'm paying 100 thousand for the genuine one right that bring down the Brand Power and also we have seen all these n starting to struggling about how do they keep the story tering going because they don't build the product right the N is the product they don't have the platform you know unless they build a product with a platform there's no way out so now they are stuck in the predicament of uh uh with the founder how keep telling the story it's very difficult so now we know what's wrong with the nft why do we need to make them great again why can we just track the enough into the bin we have two reasons one nft is still the most effective way of unboarding web to people because they are less Financial less intimidating so when people holding nft they don't see oh this is a financial asset right and the longer they holding their nft they also grow sentimental values right so we have people holding their Genesis sneaker for three years because they have been using the same sneaker for three years and when they are buying very expensive in N they likely to talk to their friend so there are certain level of social values in there and the second reason is the nft offer great user experience for all web stre project doesn't matter if you run a game fight right you know we're trying to make product that a game like so having bit of uh gameification have nft have token when you have the nft and token that make you the whole asset recyclable for a reason right so people can level their nft to level their nft they need to take some time you know we we create another um uh mini game so basically people have to spend 60 days to level up their nft so when they level they might not sell the nft and that allow you to have two months of building additional Game feature so that buy your time and when people trading nft you can recycle them back by charging uh royalties and when people are grow attachment to their nft you can get them to spend money to level up to enhance to improve there are so many ways you can get people to spend on nfds while you are building new product feature the second reason is f is a tremendous use of tool for airdrops and doing nft gated event so every year we have a massive airdrop to all the St user based on their user Behavior so how do we how do we determine their user Behavior very easy so have you been running every day you're looking at uh if you have a particular Badge of running uh distance have you been shopping in the marketplace right we have badge for you to shop in the marketplace and then we do air drops to the badge holder so in a way we are encourag people to spend money in the ecosystem by the air drops and then they become a positive reinforcement because when people receive the money they're going to spend them back because they are hoping for the next air drop and also we also do unated offline event you know we do a lot of running event so all in all the noname user uh the noname project can benefit from a little bit of gamification so so that the gamey can benefit with the combination of nft and token now we're going to talk about what we have learned for the past 3 years of running Steen anybody know about Steen raise hand yes wow so you know that this is a move to earn product and people were saying yeah X to earn doesn't work but after 3 years operation we have roughly just below 1 million user impr proov the move to earn model works why because it is close to people's life people work every day and it have a a tremendous uh uh uh Behavior shaping uh effect because when you are working every day it's very hard to not work you know you your body will react negatively if you do not work every day but the move to model worked only because we have to build a anti-cheating mechanism we have seen many many many many many times the X to earn right the the tong mini games how many of them are bought we cannot tell if you looking at all the X to earn uh product out there there's no effective way to tell which one is about which is not but with moving we can with uh the motion sensor with the GPS so we have to have a a way to do the anti- cheating and second reason is we have used activation Code system so for any crypto project when they start the community is small the lft is limited in Supply if you have a lot of people coming in it will drive out the price but because the gamey world the whole crypto industry is limited by its participant so you can very quickly run all of the potential customer and then you'll be in trouble so using an activation code to slow down the on board is tremendously important in our case and third learning is we have spent half a million dollars in 2022 working with sta trying to unboard we to running people we unboard zero and we thought we're going to at least unboarding some but the learning we took from that is the WIP two people you have to spoon feed them the web stre product they hate learning they hate to uh P purchase an nft they don't understand what it don't understand gas so we have to build the totally web2 friendly unboarding mechanism in our next product which is step and go and also the first thing we learn is the web stre social is real and very important so this is our this year's uh user event so we still you know we have a a thousand sorry 100 200 people show up for every event we running the community bounding is tremendous and people like to uh run together you know share their lives and this we see is where the wi stre social supposed to be less Financial but more uh making friends so now we get to the topic how can we make anft great again so build a new product one we need to get people attention anybody pay attention yes very good very good attention is the key attention is the precious commodity how can we get people attention decide how they will un boarding your product so we're using three mechanisms one we need to get somebody they know to promotee the product we have build this system where people can run sneakers to their friend and family so close friendship and family members increase the credibility and second we have to spoon feed the web to user we canot get them to purchase nft so that we get them to rent nft zero risk investment and third thing we thought we build Sten simply but it wasn't you know people need to level up people need to repair we remove all the necessary steps people literally just need to go out and press go that's all they need to do so Simplicity is necessary for web to un boarding so what we build differently this year is we we have built a house system so it is a sneaker rental system the wife three people can purchase sneaker and then they can do the profit speed you can see the profit share with the we to family members and then run them for two weeks 3 weeks four weeks get them into running get them into Habit in this way once the web two people save enough money they can buy their own sneakers in this way they don't need to worry about where to buy the sneakers and to even make them on boarding easier we have to build FSL ID system so it is a construction wallet we buil people can login and register a web wallet without write down the CES we back it up in their Cloud so only in this way we can make sure that they can use the product to make sure that we can on board wi two people we need to have a sustainable growth and also when web to people on boarding simly we also will use different mechanisms to make sure that we can stretch the growth as long as possible so we have build different mechanism here as well we have the finish level system in the Middle where people will have reduced earning in the first two weeks and we have built the Activation Code system this time it's bit different the code will come with a sneaker so when you are sharing a code to your uh uh family member your friend you make sure that they can actually use it and also we have built the mechanism to improve the uh lifespan of the product by removing the biggest inflation Factor so when we building Webster product sometimes we still have our web to head on when we building a seon we automatically assume the energy should be uh renewed every 24 hours but when nft does not die the energy renew 24 hours you literally have a Perpetual money machine believe or not you know I'm not supposed to talk about financial but you know the the the return on investment for steppen still 80% a year so we need to because everything in web 3 come with a price why energy can replenish every 24 hours so this time we allow people to burn their sneaker to get energy in this way the nft get recycled and the Flor price is guaranteed so in the end when we can ensure sustainable growth everything stabilized with unboarding web to people un boarding is paved with all the hurdle being removed we then can convince them to the ultimate goal how can we turn the productive nft into the nonproductive M that's the ultimate goal where you are talking about building an ecosystem of removing inflations because inflation will like inflation like entropies right it always increase we need to find different mechanism to reduce that so one way is we can get people to turn their sneaker into wearables you know not produce any token and that's the our ultimate solution of sustainable growth so if you want to download we have step and go step and there check it out if you want a code come to me I'll give you a code thank you very much