• TipTop is a new Web3 app that challenges the market leaders Sweatcoin and STEPN, which hold 77% of the Move-to-Earn market.
• With health and wellbeing apps being the latest trend in Web3, TipTop aims to build a self-sustaining ecosystem by enabling users to mint cryptocurrency by walking.
• TipTop features innovative features promoting an active lifestyle with a healthy dose of gamification and sustainable user value, as well as its own NFT sneaker collection that allows users to mint $TIP tokens.
Introduction
Move-to-Earn crypto tokens have quickly risen to prominence to attain a $350M market capitalization. TipTop looks to challenge market leaders Sweatcoin and STEPN, which hold 77% of the Move-to-Earn market. Walk-for-crypto Web3 apps have united around 135 million users worldwide.
About TipTop
TipTop is a new entry into the Web3 world with an app for both Android and iOS. With health and wellbeing apps being the latest trend in Web3, TipTop aims to build a self-sustaining ecosystem by enabling users to mint cryptocurrency by walking. It features innovative features promoting an active lifestyle with a healthy dose of gamification and sustainable user value, as well as its own NFT sneaker collection that allows users to mint $TIP tokens.
Competition
Despite leading the sphere, STEPN still serves relatively cheap NFT sneakers on Solana (SOL). For instance, the average price of a STEPN NFT sneaker on Magic Eden is 1.99 SOL, which converts to just under $50 at the time of writing. This has given newcomers such as TipTop an opportunity capitalize on this turbulent period in order to gain more traction within their respective markets .
How Does it Work?
TipTop’s customized sneaker NFTs allow users to mint $TIP tokens based on three characteristics ascribed for each pair: Performance –the rate at which the $TIP token is minted during activity; Rarity – how many pairs are available;and Style – appearance of sneakers (e.g., colorway). The higher these scores are per pair, the rarer they become– thus increasing their value over time when they are sold or traded among other users within the platform’s marketplace .
Conclusion
TipTop has entered into an already competitive space but stands out from its competitors due its ability for users not only mine coins but also trade or sell their exclusive sneakers purchased through using its native utility token -$TIP-. The project looks promising so far but will need further development before it can be seen whether it can truly challenge Sweatcoin or STEPN for domination in this sector.