A few years ago, it was hard to imagine that users would be paid real money to pump their health. Stepn is an original project based on the Move2Earn concept (“move to earn money”). The main goal of the startup is to encourage millions of people to monitor their lifestyle.
To become part of the project, you just need to download a special app and buy sneakers (in the form of an NFT coin). The software will autonomously track the user’s speed and distance. For this, an internal digital currency is earned, which can eventually be exchanged or withdrawn in fiat.
What is Stepn (GMT)?
The coin is a native token of the Stepn platform, which is responsible for managing the project. The asset allows you to earn additional profits for your game actions. In addition, it is involved in the minting of new NFT coins.
Cryptocurrency Stepn – a special software, which is based on a chain of blocks of Solana. The developers made it clear that this platform is a Web3 application, which includes elements of GameFi/SocialFi.
The basic idea of earning is simple: the user buys sneakers in the form of NFT and then turns on the training mode. Offline, the software reads data via GPS or accelerometer and calculates a reward for the distance covered.
When choosing a sneaker, there are a few key parameters to consider:
- Efficiency. Affects the amount of reward.
- Luck. Affects the frequency and quality of special bonus chests.
- Durability. Reflects the rate of potential degradation.
History of the Stepn Coin.
The project was born in the summer of 2021, and the developer was Australian specialist Young Rong. He previously founded the startup Crypto SA, and also worked for a long time as an ambassador for Algorand.
The company raised over $5 million in its first round of funding. Many well-known companies – such as Solana Cap, Sequoia Cap, Alameda Research and DeFI Alliance – came forward as investors. As of the end of May, Stepn cryptocurrency is trading at $1.38, ranking 62nd in terms of capitalization.
