STEPN is a Web3 app that merges GameFi and SocialFi to create an engaging experience around the concept of Move-to-Earn. The lifestyle dApp aims to make users fitter by offering crypto rewards for walking, jogging, or running outdoors.
STEPN players must purchase NFT sneakers from the in-game marketplace to start. Based on their activity and the sneaker NFT they use, they can earn incentives for keeping active. The Web 3.0 lifestyle app built on the Solana blockchain encourages people to adopt healthier lifestyles and contributes to tackling climate change through a unique feature for carbon removal credits.
The Green Metaverse Token (GMT) is one of two native tokens of the STEPN game and serves as the dApp’s governance token. GMT must level up in the game and mint new sneaker non-fungible tokens (NFTs). In addition, GMT token holders can also access in-app features, enjoy voting rights, and contribute their thoughts on proposals for upgrading the STEPN ecosystem.
STEPN has set the max supply of the GMT token at six billion. The game will also implement various token-burning mechanisms to bring down the GMT circulating supply, creating deflationary pressure and supporting the GMT price in the market.
The move-2-earn STEPN game came in fourth among the Solana Ignition hackathon winners in the gaming category. The game boasts a lineup of formidable backers, including Sequoia Capital, Folius Ventures, Binance, Solana Capital, DeFi Alliance, and Alameda Research.
