The Benefits of Staking in The Metaverse
by StepApp

Staking is a huge business in crypto. It is one of the popular ways to earn income in the crypto space. Likened to how a bank works where users deposit their money or asset at a bank and get paid on it periodically until maturity, staking operates with the same model but this time with cryptocurrency and some changes. In PoS staking, users delegate a specific coin to a validator who ensures transactions are processed on a particular network, and then they get rewarded back with the network tokens for doing that. Other modules of staking exist in the space and investors are exploring all these to maximize their income stream in the crypto ecosystem.
The benefits of staking are so many. It starts with getting rewarded for putting up your coins to support your network of choice. Stakers at most times have to endure long periods of lock-ups where they do not get access to their funds until the staking contract expires. Sometimes, unstaking does come with incurring extra costs that may not be conducive for investors. In addition to getting rewards and yields, it serves as a means of throwing support to a blockchain, perpetuating decentralization and boosting crypto adoption.
The versatility of blockchain has enabled the integration of its products into other conglomerates of products. This refers to a synergy between staking and the metaverse. The metaverse is one of the latest evolutions of the blockchain space and several metaverse projects have now integrated staking into the metaverse to enhance adoption and give users more income streams. Different metaverses have different staking modules. The metaverse compounds augmented reality and virtual reality to produce a digitally mimicked world. However, there is more to it than just playing games or creating avatars and building lands. Staking is one of its core features

Several metaverse projects have diverse staking products with some having none at all and relying on other DeFi platforms. For instance, MANA from Decentraland can be staked on some lending platforms such as Binance, Gemini and others to accumulate rewards and earn decent APY. SAND from the Sandbox can also be staked on LAND to earn rewards into a staking pool for rewards as well.

Step app, a fitness focused project that rewards users for staying active, has introduced a superb staking module that is not done by any other project. The first of its kind perpetual staking is a great addition to the step metaverse. Taking advantage of staking function of app
comes along with several benefits. Users get to participate in NFT drops and earn tickets that can be used to join NFT drop events which may lead to winning a Lootbox. Lootboxes may contain SNEAKs, skins, and Avatar badges or tags. There is also zero-inflation yields, and validator rewards. Users can stake FITFI to get early-stage access to projects and their public rounds. It is easily done and requires no technical knowhow. All an individual has to do is connect their wallet to the staking dashboard to start reaping the benefits.
Staking is a good way to accumulate rewards in crypto and the advent of the metaverse has given the crypto staking economy more room to develop. Several metaverse projects have their different staking modules which are all geared towards maximizing rewards in the space.

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