Chris Gatbonton Profile picture
Jun 23 β€’ 13 tweets β€’ 4 min read
1/ I know what @Stepnofficial's 3rd realm is πŸ‘€

Well...I have a theory.

Take a look at this picture.

#STEPN #MoveToEarn
2/ It was published by @Stepnofficial at the end of their Medium blog: Part 3: NFTs β€” A Non-Fungible Renaissance.

It doesn't look at all relevant to the article, which makes it seem like a hint.

But what does it mean...
3/ Let's start with the Ethereum logo.

There's a lot of debate right now over whether the 3rd realm is going to be built on Ethereum or not.

In the last Townhall, Yawn said that the 3rd realm would be 'more expensive'.

Only BTC, ETH, and MKR are more expensive than BNB.
4/ Since the logo in the image is Ethereum, it's the only one that makes sense.

And if that's not enough evidence, Jerry said this on March 7:
5/ Ok, so the 3rd realm is Ethereum. What about the logo to the right?

That's Chainlink.

In November of 2020, Axie Infinity integrated with Chainlink Oracles to show their NFT prices in both ETH and USD.

Why is that important?
6/ Well, lately the StepN team has been saying that their primary goal right now is to onboard Web 2 users.

Web 2 users are people like everyone in my family and 80% of my friends. They don't know anything about crypto.
7/ Being able to show prices in USD instead of just BNB and ETH is going to make the game a lot more approachable to your average person.

They'll see it as 'real' money.
8/ Another thing Chainlink has is their Cross-Chain Interoperability Protocol (CCIP) and Programmable Token Bridge.

I'm not technical, but it sounds like this would enable token transfers between chains.
9/ If, for example, they were going to implement a feature where you could burn 2 shoes on one realm to mint a shoe on another realm, this is probably what they would need to enable that.

Here's a description from their website:
10/ In the last Townhall, Yawn said that GST was going to be much more stable in the 3rd realm.

He also said that it would affect the price of GST in the other realms as well.

So it π‘ π‘œπ‘’π‘›π‘‘π‘  like there will be cross-realm functionality.
11/ And if that's true, the Chainlink integration is going to launch with the 3rd realm.

And if THAT's true, that means this entire image represents the launch of the 3rd realm.

Which leaves us with one more logo...
12/ Axie Infinity is going to be the partner for the 3rd realm.

If you've been listening to the AMAs over the past couple months, you'll have noticed that Yawn references Axie Infinity A LOT.

He talks about the mistakes they made and how StepN has learned from them.
13/ At first, I figured wow, they really did their research on Axie.

But what makes more sense is that the Axie team has been in the room the whole time as a realm partner!

So that's my theory. What do you think?

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More from @m2e_chris

Jun 11
1/ GST is falling off a cliff. Shoe floor prices are tanking. #STEPN is going to zero.

At least that's the sentiment right now.

Here's why I still believe in @Stepnofficial...
2/ It's true, prices are 1/5 or even 1/10 what they were a couple weeks ago.

The value of my StepN portfolio has tanked and it's a lot of money for me. I'm no exception. I'm feeling the pain as much as anyone else.

But I'm also more optimistic than most.
3/ I think I need to preface this with the fact that I'm a founder. Founders are eternal optimists and I don't expect the average person to be that way.

But the optimism is always backed by logic. I'm not optimistic without reason.

So here are the reasons I'm still a fan...
Read 18 tweets
May 29
1/ Impromptu #STEPN AMA on May 29, 2022 by @CM_Gilgamesh

I didn't catch the whole thing, but @yawn_rong jumped in at the end and answered some good questions.

Here's what I was able to write down in my own interpretation, it's not word-for-word.
2/ Is StepN in a death spiral?

Gilgamesh: I've been involved in several projects before that had a death spiral, Axie Infinity being one of them. StepN is definitely NOT in a death spiral, and that will continue as long as the community has faith in the project.
3/ What is causing all of the prices to drop?

Yawn: Mint farms have been dumping on the market and timing them to create FUD. Mint farms are a market condition. When you create opportunity for profit, people will exploit it. It's not what we want.
Read 9 tweets
May 28
1/ #STEPN AMA summary May 28, 2022

1. Yawn apologizes for overreacting to the community FUD.

2. Lots of developments in the background to create a leading Web 3 app. ie. 3rd realm launching in Phase V, Q3-Q4. Possibly more than 1 realm being rolled out by end of year.
2/ 3. 3rd Realm will be on a new blockchain.

4. New realms will keep being launched to give players options for different levels of earnings/investment. This will create sustainability until GMT earning is released, which will create a robust economy.
3/ 5. Mainland China users being removed from StepN on July 15 to comply with regulatory policies. Accounts will not be banned, they just need to be in a location where StepN is allowed.

If Mainland China opens up regulations in the future, StepN can remove this restriction.
Read 9 tweets
May 26
Today was wild day in StepN land.

Prices have been tanking on both chains and people are freaking out.

I have a theory. It’s pure speculation so don’t hold me to it.

Here’s what *might* be happening. What do you think?

#STEPN #MoveToEarn
Today, the team announced that they would be removing GPS access to all players in Mainland China.

They we’re never allowed in the first place but they used VPNs and made up 5% of the user base.
I think it’s likely that many mint farms came from this group.

The news today may have spooked them into dumping all of their assets in case they lose access to the app.
Read 6 tweets
May 15
1/ I bought a StepN shoe on BSC 2 days ago for 17 BNB (~$5100 USD).

Here's the story.

#STEPN #MoveToEarn #NFTgaming
2/ As you probably know, the markets have been falling off a cliff, and that includes crypto.

I went from earning $1000 a day to 'only' $500-$600 a day.

Fortunately, that opened up a new opportunity.
3/ About a month ago, StepN launched on a 2nd blockchain - BSC.

For a couple weeks, nothing really happened. Most of the genesis shoes were bought up by bots.

So on May 3, 2022, StepN decided to airdrop 10,000 BSC genesis shoes to the holders of the first 10,000 SOL shoes.
Read 9 tweets

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