Helium has revenues of $6.5k/month after $365M investment from A16Z

Re:Helium has revenues of $6.5k/month after $365M investment... by stiltzkin on Tuesday July 26, 2022 @10:58AM (#32239246)

I do use StepN and should be noted that the $120 million was from the first quarter and the project has less than a year online. But that quarter GST and the sneakers were at ATH before the crash and people "invested" more than $1K for a pair of sneakers, earning were $30 dollars a day with a single common shoe and you could reach your ROI in 30 days. The numbers are different now as GST has crashed 98% and people who invested a lot in the first quarter have their ROI in years.

The FitnessFi space has so much potential but StepN has new competition in the space which they are already starting with better ponzinomics and in web3 projects are community driven and StepN community will ape to the next one.

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Re:Helium has revenues of $6.5k/month after $365M investment... by spaceman_2020 on Tuesday July 26, 2022 @11:26AM (#32239648)

The problem with any -Fi project (GameFi, FitFi, etc.) is always that the tokeonomics get derailed by speculators. In-game economics become unsustainable when outside investors who have no real interest in the game itself start pouring in money. Suddenly prices that might have made for a sustainable year long run become too expensive, pricing out real users.

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Re:Helium has revenues of $6.5k/month after $365M investment... by stiltzkin on Tuesday July 26, 2022 @12:35PM (#32240538)

The way I see it "Move To Earn" is a new web3 business model StepN gets the credit. It is an Australian star-up who has earn $120 million in the first quarter and pivoted their tokenomics each month. The shoes of StepN as company have not been easy to fill in by the team.

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Re:Helium has revenues of $6.5k/month after $365M investment... by nradov on Tuesday July 26, 2022 @12:40PM (#32240612)

This is bullshit. There is no sustainable revenue model for "move to earn". Ultimately who would pay for it when the investment capital runs out?

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Re:Helium has revenues of $6.5k/month after $365M investment... by stiltzkin on Tuesday July 26, 2022 @12:46PM (#32240691)

Who are we to say there is nor sustainable way?, but in the case of StepN they have been using a ponzinomic way to run it.

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