Thread by @cryptobibi__

Honest opinion on @Stepnofficial, 3month user experience, #bearmarket & future strategy. (thread)

I made my first investment into Stepn around 3 months ago when #sol was still around $100. #GST being $3-$9 made it possible to make an solid strategy & estimate on time for ROI.

Depending on how much you would have invested into #Stepn & what the strategy was: for most people it would have taken somewhere between 18 - 53 days to get their ROI back. From there on you would be running on house $. That sounds appealing to any investor.

Then came the #bearmarket. In short: #GST, $GMT, $SOL & #BNB all went down & so did the floor prices of Sneakers & Gems. As an example: a "Common Trainer 21SOL = $2100" is now priced at 9SOL = $315. For those who been here long enough UC's, Rare & Epics seen some sickening drops.

As investors how should we respond to this? Yes, markets move in cycles and this bear market will pass, good projects will survive and weak hands get shaken out. However there are more factors in play that I think should be considered with #Hodling your #NFTs in #STEPN.

We now know that if you started #Stepn 2-4 weeks ago or before that time, it will take a long time to get ROI in as if you "hodl" and keep running everyday. If you would start today you have the opportunity to buy in at a lower price - but unless #gmt gets unlocked, same outcome.

As for holding onto #NFTs. If you have leveled up your sneaker to Level 30, have zero mints you would expect to sell it for a higher price. My personal experience has shown me that buyers don't care about this. The lowest floor price sells. $gst makes it cheap to level up.

Also there is a big difference in selling high level sneakers compared to CO's & UC's. R & E sneakers have less buyers, expensive for majority of the market and cheaper to get through minting or enhancement. Further, buying them and getting ROI through GST will take a long time.

So what happens if your portfolio consists of high level sneakers, floor prices keep dropping and there are no buyers at all? This fear kicked in today. I have had Rare sneakers on the market for days at low prices and they are still there + prices keep dropping.

As an investor the last 4 weeks have felt like an sinking ship. It's great that #Stepn rolls out updates, introduces a new realm but we've seen how #BNB affected #GST price & #Sol realm. What would be different now? Also increase in active users, why then are users not spending?

Although I believe #stepn is a great project and the team is doing best they can in this market I do think the project started of with floor prices being too high, negative correlation with realms #gmt & #gst and unlucky timing with the market.

In the past 3 months I've reinvested all my earnings but concluded that I just keep walking backwards -$. I decided to keep a small portion of the portfolio because I like playing the game but will continue to invest once there are positive signals. Stay Safe peepz - BiBi

@Barndog_Solana @Krit_STEPN @ktrainUSA_STEPN @JasonYanowitz @yawn_rong @StepnGodKing @STEPNHAWAII @EMoneyMoves @StepnVegas @bnBeth_solvax