Thread by @Mike_Maddocks

1/ "Are you the same guy who sold all his assets and then came back within few weeks again?"

I've had this question multiple times on Discord now -

...it might be time to tell the full story👇🏻

A long #STEPN thread, but a good read - I promise 😆
And some bonus tips at the end

2/ I started StepN back in May 2022. Like many of us, I found out through a Youtuber, and quickly loaded my bags (well... I bought one shoe on BSC valued at $3000 USD) in the hopes of returning MAD RETURNS. Ha!

3/ About 2 weeks later, the unthinkable happened:

I won a contest draw for a BSC Genesis sneaker. These things were barely released yet and the value: $30,000 USD at the time. No doubt, I was completely hooked.

https://twitter.com/Stepnofficial/status/1528767579560374273?s=20

4/ I bought another sneaker so that when it arrived I'd have 3 and expand my energy to 20 minutes. I was into the game for USD $6000 now.

It took 2.5 weeks for the Genesis to arrive. In that time the freefall had already started. What was worth $30k was now worth $10k.

4/ $6000 on NFT shoes? What a stupid hobby.

I wanted to get my girlfriend involved, so I went for my first mint, and it was a doozy: A double mint.

Well that was basically an extra $3000 - right?

5/ Now that I finally understood the game, the sockets, and the stats, I upgraded my main shoe to an EEEL Trainer. What a beauty

6/ But prices kept dropping, 15-30% every. single. day.
What started out as a 30-day ROI became this never-ending chase.

"But hey, a 365 day ROI is still a pretty darn good investment, isn't it?"

7/ So i decided to forget about it the prices, and just keep playing the game for the health benefits. I essentially counted the money as good as gone. And that helped me move forward.

But the strategy side of the game never stopped.

And then came enhancements...

8/ I was travelling in Las Vegas when they first published the update. You no longer need to mint an Uncommon at 3% chance, you could guarantee one through enhancement and maybe even a double enhancement.

You know I was going to try this.

9/ From a marketing standpoint, it would make sense to increase the rates of double enhancement at the beginning, so people share and post, create a frenzy, and it becomes popular.

I tested this theory and enhanced within seconds of the new release...

10/ My first Rare. Wow. Sockets not great... GMT mining was only an afterthought at this point.

I learned about shoe crafting with sockets and over the next few months I started to create monsters.

11/ Always trying to be one step ahead in the game, I started buying up all the CCCC shoes I could find - particularly CCCX trainers. GMT hadn't yet been released, and these would soon be a hot commodity.

I flipped these assets, and finally built my dream sneaker:

12/ GMT earning became my focus. Crafting shoes became my specialty.

A few months later I saw the next opportunity. Genesis shoes had fallen to <$1000 each.

I loved the game of StepN and expected to play it for a long time, so I bought two, and I enhanced them into my mains.

13/ I had two badass Genesis, one Epic and one Rare.

But something felt off with the StepN team. All energy shifted to MOOAR, ambassadors went quiet. GMT unlocks started and prices started dropping.

I was going on vacation for 3 weeks. So I decided it was time to sell.

14/ Everything was sold within a week... except my high value shoes. 2 on my account and 2 on my girlfriends account. Both the rare and epic genesis couldn't sell.

After a week on the market, I took them down.
The timing couldn't have been better.

15/ A mere DAYS after I took them off the market for a quick walk, a snapshot was taken and a genesis airdrop was underway.

Bang ‼️ We were back! A chance to start fresh. Nearly back to square one with the initial output.

16/ But how to proceed from here? Well, in poker we have a term called 'Freerolling'. When you have something to gain but nothing to lose anymore. That's where we were at. So.. we went back to GMT earning

But.. as Rainbow+ got closer + closer, it was time to change strategy. 🌈

17/ Again, I had another 2 week holiday planned where I wouldn't be able to walk. It was early May and this was a good time to sell GMT earners still.

We sold everything (including the Genesis) and held it in FIAT...ready to re enter when the time was right. ⏰

18/ And that brings me to two weeks ago - when I noticed the #ETH realm trend kept picking up. We jumped in with both feet and we're currently riding the wave upwards. Will it hold? who knows. But #STEPN is fun again. It feels like the days of old.

19/ More importantly, the team is investing time and resources back into #StepN again. Rainbow+ release will complete the macro stability in it's entirety.

UC shoes will no longer be in oversupply.
The introduction of Legendary will immediately reduce Rare and Epic supplies

20/ If you've been considering getting yourself that pretty Rare or Epic, now would be the time to do so.

If they release R+ only, Rares will be good value.
If they release R+ and Legendary at the same time... all good shoes will see a reduction in supply. Act quickly.

21/ If you enjoyed this, consider a Follow - I'm always posting FREE StepN strategy content to keep you ahead of the curve.

https://twitter.com/Mike_Maddocks/status/1665687039466000391?s=20