Sign Up on MEXC
DAILY NEWSLETTER
Your daily dose of Crypto news, Prices & other updates..
STEPN is a Web3 lifestyle application with built-in Game-Fi and Social-Fi elements running on the Solana blockchain.
STEPN is the first move-to-earn (M2E) NFT game, built around most people’s daily activities – involving bodily movement.
It is the first move&earn concept that has effectively been put into action. STEPN finished fourth out of over 500 projects at the Solana Ignition Hackathon 2021.
In the move2earn NFT game, users are equipped with NFTs as sneakers and earn game currency by performing various physical activities like walking, jogging, or running outdoors. This earn game currency can be used in-game or cashed out for profit.
With the help of Game-Fi, STEPN intends to encourage millions toward a healthier lifestyle, mitigate climate change, and tie masses to Web 3.0 while at the same time hinging on its Social-Fi element to create a stable platform promoting user-generated Web 3.0 content.
Since the quantity of tokens is limited, a burn mechanism is needed to help people have a healthy lifestyle. This is another unique feature of STEPN. The burning mechanism is used with the help of several in-app actions to reduce the circulation of the GMT and the GST tokens.
As per the STEPN’s Whitepaper, on 6 July 2022, 50,000,000 SPL-GMT from the Ecosystem fund (Treasury) were burned, and 50,000,000 ERC20-GMT were minted and transferred to FTX to act as the liquidity bridge between SPL/BEP GMT & ERC20-GMT.
STEPN was developed by an Australian fintech firm, Find Satoshi Lab. Jerry Huang and Yawn Rong co-founded the Solana-based STEPN (GMT).
There are two tokens in the STEPN ecosystem – Green Satoshi Token (GST) and Green Metaverse Token (GMT).
To earn money and freely participate in the game, users can access three STEPN gameplay features – the solo, marathon, and background modes. While the participants will need sneakers to start earning, one is not required to have anything to commence jogging or running. New users can get a free trial of the app and its features. The earning meter starts filling up when you run, and you are ready to commit and have some STEPN sneakers.
Once you are ready to commit and have some STEPN sneakers, the earning meter will start filling up as you run.
It must be remembered that to buy STEPN, you will have to check for exchanges that support its GMT token. This is because not all crypto exchanges allow users to buy STEPN yet.
Share on
DAILY NEWSLETTER
Your daily dose of Crypto news, Prices & other updates..
5M+ Monthly Page Views
50k+ Articles
