STEPN
GMT
STEPN is a Web 3 lifestyle app with social-fi and game-fi elements. Players can earn money by walking, jogging, or running outdoors. With Game-Fi, STEPN aims to encourage millions to lead a healthier lifestyle, combat climate change, and connect the public to Web 3.0. It also relies on its Social-Fi aspect to create a long-lasting platform that promotes user-generated Web 3.0 content.
| Round | Amount | Valuation | Date | Investors |
|---|---|---|---|---|
| Strategic | -- | -- | Apr 06, 2022 | |
| Public Sale | $5M | -- | Mar 09, 2022 | |
| Seed | $5M | $30M | Jan 20, 2022 |
STEPN (GMT) is a Web3 lifestyle app that integrates social-fi and game-fi elements to promote healthy living by rewarding physical movement. Launched in 2021 by Find Satoshi Lab, STEPN quickly gained popularity for its "move-to-earn" model, which allows users to earn cryptocurrency by walking, jogging, or running. The app tracks users' movement via GPS and rewards them with two main tokens: Green Metaverse Token (GMT) and Green Satoshi Token (GST).
GMT serves as the governance token for STEPN, allowing holders to participate in platform governance and decision-making. Within the app, GMT can be used for advanced rewards, such as leveling up and enhancing sneakers. GST, the utility token, is earned through daily movement and is primarily used for in-app purchases, like sneaker maintenance and upgrades.
To start earning with STEPN, users must own an NFT sneaker, with each sneaker possessing unique attributes like rarity, speed, durability, and efficiency, which impact its earning potential. Users can upgrade and maintain their sneakers through game-fi features, including leveling up and receiving mystery boxes, and can trade their sneakers on secondary NFT marketplaces. STEPN’s social-fi elements, designed to build a community centered around health and interaction, further enhance user engagement.