Take for example, Emily, hawking colorful cloth in Accra’s crowded Makola Market. She dreams of a life beyond the grind, a life where her art makes her rich in every sense of the word. Then she starts to hear about this new stuff called digital gold – NFTs – and how she can achieve financial independence. That’s when she hears about Karate Combat’s NFT raffle with StepN Go. Could this be her chance?

The partnership between StepN Go, the move-to-earn app rewarding activity with crypto, and Karate Combat, the visceral striking league, sounds intriguing. To promote the new sneaker brand, they’re dropping a new NFT sneaker collection on the Solana blockchain. This groundbreaking digital asset will be released via a Raffle mint on MOOAR, members-only NFT marketplace.

The allure is undeniable. Access to a global market, the potential for passive income, and the feeling of owning a piece of something – these are powerful motivators. Transforming digital kicks into IRL dough enchants young and old alike. This is increasingly important for people in rapidly developing economies like China and India who are seeking opportunities to lift themselves out of poverty. It’s a real David versus Goliath story, in which regular people can really learn how to use technology to upend very established and entrenched financial systems.

Of course, the crypto world is a fickle mistress. What if the NFT market crashes? What if the value of these digital sneakers crashes harder than one of those Karate Combat fighters after a liver shot. People like Emily and millions of others could stand to lose their hard-earned savings in an instant.

Then there's the scam factor. The NFT space is flooded with rug pulls and scams. How can Emily, or anyone unfamiliar with the intricacies of blockchain technology, discern a legitimate opportunity from a cleverly disguised trap? Are we just putting vulnerable populations in the hands of exploiters, capitalizing on their aspirations towards economic opportunity?

Let's be brutally honest: the vast majority of people who participate in these things won't get rich. The odds are stacked against them. The house always wins, right? Is this just another example of digital colonialism? So, while developing countries pay the price for the negative impacts, recognized brands enjoy the benefits and reap dollars off these developing countries’ hopes and dreams with little accountability.

StepN was launched in December 2021 with the concept of incentivizing users to be healthier, by rewarding them with crypto tokens. Karate Combat is an innovative, full-contact league featuring some of the world’s best strikers competing in a spectacular “Pit” format. You put them all together, and then what do you get. Very innovative and fascinating business model, but is it right?

The power dynamic is crucial. StepN GO and Karate Combat both have affiliation backed by well-resourced companies and organizations. Emily, and millions like her, are the real people just trying to make their way through this confusing and frustrating gauntlet. Are their interests truly aligned?

The second elephant in the room. Furthermore, Solana is significantly more energy-efficient than most other blockchains. That said, we can’t ignore the environmental impact of minting and trading NFTs. Is it right to be advocating a technology that is bad for the climate? This is particularly alarming when its benefits are reaped almost exclusively by a privileged elite.

We need to be deeply suspicious of the perception that NFTs are a magic door to new riches. This is especially true in developing economies. It makes for good common sense to promote financial literacy. We need to start by informing the public about the risks and supporting regulatory structures that ensure the NFT market protects its participants.

We must come to realize that financial literacy is a necessity, not a luxury. As a nation, we need to do better to close the digital divide. They shouldn’t and everyone deserves access to the technology and resources necessary for robust participation.

Karate Combat, StepN Go — indeed any company creating Web 3.0 technologies — needs to be transparent and accountable. Continue to invest in educational efforts and encourage innovation that is responsible and equitable. So make sure that your experiments help the neediest first and most, not just the most privileged.

The NFT raffle mint is open from June 25th 2025 to June 29th 2025. This event has not only been a major business opportunity, it is a super cool social experiment. We need to ask ourselves: are we creating pathways to empowerment, or paving the road to exploitation?

Do We Need Responsible Innovation?

We need to be very cautious about presenting NFTs as a quick ticket to financial freedom, especially in developing economies. It's crucial to promote financial literacy, educate people about the risks involved, and advocate for regulatory frameworks that protect participants in the NFT space.

Financial literacy is not a luxury; it is a necessity. The digital divide must be bridged, ensuring that everyone has access to the technology and resources needed to participate effectively.

Companies like Karate Combat and StepN Go have a responsibility to be transparent and accountable. They should invest in educational initiatives, promote responsible innovation, and ensure that their ventures are benefiting all participants, not just a select few.

The NFT raffle mint running from June 25, 2025, to June 29, 2025, is more than just a business opportunity; it's a social experiment. We need to ask ourselves: are we creating pathways to empowerment, or paving the road to exploitation?

The answer, ultimately, depends on us.