STEPN to hold largest ever meet-up in Japan
Stay up to date with the latest STEPN (GMT) news as it happens
- 21 November 2022: STEPN FIFA World Cup Qatar 2022 ‘sneaker enhancement special’
- 14 November 2022: STEPN remains ‘strong’ despite FTX bankruptcy
- 9 November 2022: STEPN’s MOOAR ‘spearheading’ NFT industry, it tells users
STEPN (GMT) the “move-to-earn” lifestyle app, is to hold a STEPN Japan meet-up towards the end of 2022.
The STEPN Japan meet-up will be its largest ever in the country, and will take place on 4 December. The event will be held over 25 separate venues, and at the time of writing 338 STEPN users are said to be attending.
This will be the last official STEPN event in Japan for 2022.
As of 7:50am on 24 November, STEPN was trading at $0.3929, up by 2.15% compared to the previous day, according to CoinMarketCap.
21 November 2022: STEPN FIFA World Cup Qatar 2022 ‘sneaker enhancement special’
STEPN (GMT) the “move-to-earn” lifestyle app, has launched a project called the “around the world: sneaker enhancement special” to coincide with the FIFA World Cup 2022 in Qatar.
This special is an in-app event “to celebrate with users across the world”.
The FIFA World Cup 2022 is running from 20 November to 18 December, with the STEPN event running from 18 November to 18 December.
To take part in this, users must burn GMT, GST or five low-quality STEPN sneakers to recieve a special enhanced sneaker.
A total prize pool of 100,000 GMT will be made available. Everyone who takes part in the special will be randomly assigned a sneaker with the skin of a country’s flag participating in the world cup.
All holders of sneaker skins of a country that ranks in the top eight in the world cup will receive a portion of the prize pool.
Winners of the world cup will receive 50%, second place 25%, third place 10%, fourth place 5% and fifth to eighth will receive 2.5% each of the prize pool.
As of 8:03am on 21 November, STEPN was trading at $0.3667, down by 11.02% compared to the previous day, according to CoinMarketCap.
14 November 2022: STEPN remains ‘strong’ despite FTX bankruptcy
Find Satoshi Lab, the parent company of STEPN (GMT), has said the company remains “strong” and it is “heads down building”, despite the impact on the market from cryptocurrency derivatives exchange FTX filing for bankruptcy on 11 November.
Additionally, Find Satoshi Lab explained treasury funds for STEPN are “secure” and that it remains “focused on building new products for the ecosystem”.
STEPN added: “Tough times don’t last, tough people do.”
As of 08:22 GMT on 14 November, STEPN was trading at $0.3827, up by 1.12% compared with the previous day, according to CoinMarketCap.
9 November 2022: STEPN’s MOOAR ‘spearheading’ NFT industry, it tells users
In a reaction to reports that STEPN users were worried that MOOAR would take more attention and the “move-to-earn” lifestyle app would be “forsaken”, Find Satoshi Lab attempted to clarify some points.
Find Satoshi Lab said it believed NFTs were “one of the most effective tools for onboarding and educating Web 2.0 users”, which, it said, was part of the reason why it launched MOOAR.
The firm said it also felt that “building an NFT marketplace is necessary to become a super app”.
As of 8:19am BST on 9 November, GMT was trading at $0.47 down by 15.03% compared to the previous day, according to CoinMarketCap.
4 November 2022: Crypto.com app allows withdrawals and deposits of GMT via Solana
The Crypto.com app first listed GMT in September 2022.
At 9:50 GMT on 4 November, GMT was up 2.04% at $0.5204, according to CoinMarketCap.
1 November 2022: STEPN launches NFT marketplace MOOAR
Via Twitter, MOOAR asked: “Let us know what your dream NFT marketplace and launchpad would look like.”
As of 7:48 BST on 1 November, GMT was trading at $0.539, up by 2.59% compared to the previous day, according to CoinMarketCap.
31 October 2022: STEPN unveils pumpkin carving contest
To enter the contest, STEPN users must create a STEPN-themed Halloween pumpkin, share a photo of it via Instagram and use the hashtag STEPN, STEPNHalloween or STEPNPumpkinCarving in their post.
The contest will close on 2 November and the top three winners will receive 300 GMT each.
27 October 2022: STEPN to launch MOOAR, its NFT marketplace
STEPN said MOOAR will provide “additional value and utility for loyal STEPN users and the GMT token”.
It added that during the crypto bear market, “we are heads-down building with the aim of creating more products and utility for our valued community”, and MOOAR was one result of this.
The ethos behind the platform is that “loyal STEPN users receive distinct benefits within the MOOAR NFT platform”.
As of 8:42am BST on 27 October, GMT was trading at $0.5192, up by 4.46% compared to the previous day according to CoinMarketCap.
18 October 2022: STEPN receives nomination from the Crypties Awards
STEPN (GMT), the “move-to-earn” lifestyle app, has received a nomination for the 2022 Game of The Year Award in the Crypties Awards.
These awards will be presented by Decrypt, the cryptocurrency news service, and are described as “the crypto industry’s premier international annual awards initiative honouring excellence in the blockchain ecosystem.”
Altogether the awards have 10 categories. The presentations will be taking place in Miami on 30 November 2022.
14 October 2022: STEPN ‘to lay off more than 100 staff'
The 100 people will consist of contractors and STEPN ambassadors, Wu said. At the same time, he said, development progress has also been delayed.
According to Wu, focus has now been placed on “promoting” STEPN’s parent company, Find Satoshi Lab.
10 October 2022: STEPN users can now donate GMT to charities
Owners of level 30 sneakers can earn GMT and donate it to thousands of charities through The Giving Block.
STEPN, a “move-to-earn” lifestyle app, said that giving to charity is “linked to increase levels of happiness, living longer, lower blood pressure, lower levels of stress and being less likely to experience depression."
22 September 2022: STEPN’s GMT token listed on Crypto.com app
The move means users can buy GMT with USD, GBP, EUR or more than 20 other fiat currencies.
Crypto.com has described STEPN as “the world’s first ‘move-to-earn’ game which rewards players for moving from one place to another by walking or running”.
21 September 2022: STEPN receives Grand Prize at Tokyo Blockchain Game Awards 2022
20 September 2022: STEPN launches Burger Burn challenge
The challenge has an emphasis on the use of stairs in exercising, with STEPN claiming using the stairs burns fat twice as fast as running and three times as fast as walking.
In addition, the app said, using stairs during exercise is “immune to weather situations” as it can be done inside while it is raining outside.
STEPN said: “incorporating stairs into your workout once or twice a week is guaranteed to keep your workouts fresh.”
Stadiums are useful places to train as they provide plenty of steps where you can “run up the seating aisles”, the app said.
Elevated nature trails are another good spot for stairs training, STEPN said, such as “mountainous or hilly regions”.
Even if you do not have immediate access to stadiums or nature trails, then a normal flight of stairs can suffice for “a good workout”.
To participate, STEPN users must post a video on Twitter or Instagram about their BurgerBurn challenge, follow STEPN’s Twitter or Instagram pages and include the hashtags #STEPN, #STEPNEMBER and #STEPNBurgerBurn, and tag STEPN in your post.
In total there are four challenges to participate in, with the top 20 entries in each category to be selected to win 1,000 GMT, the STEPN token. Anyone who wins all four challenges, will share the grand prize of 100,000 GMT.
All entries will be scored by STEPN ambassadors on the quality of the videos, the content and the engagement rate, such as retweets and shares.
14 September 2022: STEPN reveals carbon offsetting strategy
STEPN (GMT), the “move-to-earn” app, has outlined its carbon offsetting strategy and declared: “Beyond the bear market, beyond the state of the economy, the health of our earth remains the defining issue of our time.”
The company described climate change as “one of the biggest challenges facing our society today”.
STEPN said it was founded to encourage people to walk more and improve people’s health, with “our health being inextricably tied to the health of our planet.”
The organisation is working with Nori, its carbon offsetting programme and “weaving environmental stewardship into the DNA of our business”.
It recently launched its 12,000 steps challenge, which aims to avoid creating the 10Ibs of carbon dioxide (C02) in vehicle emissions supposedly emited in travelling a distance by car equivalent to 12,000 steps.
13 September 2022: STEPN merchandise sold at Solana Store in New York
In a tweet, STEPN said people could complete a podium tutorial at the store to receive an activation code and “start moving and earning with STEPN”.
The Solana store was opened in July at The Shops, an upmarket shopping mall at Hudson Yards on the east side of Manhattan. It was set up by Solana Spaces, a San Francisco-based organisation with the aim of opening “a set of retail venues that provide an immersive educational experience for people interested in the Solana blockchain and Web 3.0.”
Solana Foundation, the organisation behind the Solana (SOL) cryptocurrency, “funded and helped incubate” the Solana Spaces NYC store, which sells SOL merchandise such hoodies and tracksuit bottoms, as well as providing information about “DeFi, NFTs, games and a variety of Solana projects to earn immediate rewards”.
12 September 2022: STEPN begins 12,000 steps challenge
STEPN (GMT), the “move-to-earn” app, has started its 12,000 steps challenge, which runs from 9 to 15 September 2022.
To participate, STEPN users must post a video on Twitter or Instagram about their 12,000 steps challenge, follow STEPN’s Twitter or Instagram pages and include the hashtags #STEPN, #STEPNEMBER and #STEPN12000, and tag STEPN in your post.
In total there are four challenges to participate in, with the top 20 entries in each category to be selected to win 20,000 GMT, the STEPN token. Anyone who wins all four challenges, will share the grand prize of 100,000 GMT.
All entries will be scored by STEPN ambassadors on the quality of the videos, the content and the engagement rate, like retweets and shares.
The winners will be announced this week (the week starting 12 September).
STEPN said that anyone walking 12,000 steps in a day – close to six miles – can avoid creating nearly 10Ibs of carbon dioxide (C02) in vehicle emissions.
9 September 2022: STEPN featured in video by Russian beatboxing twins
STEPN (GMT), the “move-to-earn” app, has been heavily featured in the latest music video by the Russian beatboxers Mad Twinz, titled STEPN.
Mad Twinz are a pair of Russian brothers beatboxers. The pair wear the STEPN Genesis Sneaker in the music video, which is co-branded with the crypto platform WhaleFin and the Spanish football team Atlético de Madrid.
The Web 3.0, app is encouraging people to be healthier and exercise more which the beatboxing pair also do in their song. The pair refer to STEPN as an “amazing app” in the song.
8 September 2022: STEPN releases guide on physical, mental and social health
The guide starts with a quote from Chuck Pagano, former National Football League (NFL) head coach and player, on health “If you don’t have your health, you don’t have anything.”
STEPN said that during the COVID-19 pandemic “the state of our health surged to the front of the world’s collective consciousness.”
The lifestyle app said that during the lockdowns, numerous countries reported a walking “boom”, especially as gyms were forced to close temporarily.
Although many people are continuing to walk and run, STEPN said that maintaining the habit on your own “can be tough”.
STEPN is urging people to keep up their exercise, because of the “threefold” physical, mental and social health benefits it brings.
The guide says it “should not take a pandemic to keep us moving and active” and that “regular physical activity is essential for our wellbeing” and physical, mental and social health.
5 September 2022: STEPN sets out stall at Electric Zoo music festival in New York
STEPN (GMT), the Web 3.0 lifestyle and fitness app, had a stall at the annual Electric Zoo music festival in New York.
The festival, which ran from 2 to 4 September 2022, represents all genres of electronic music, with artists such as Diplo and DJ Snake performing.
The STEPN stall provided attendees with towels and water bottles. To receive a towel, festival goers had to walk 5,000 steps and if they downloaded the app they would recieve a free water bottle.
2 September 2022: STEPN celebrates its first birthday
STEPN is celebrating its first birthday during September 2022 with a series of challenges offering a 100,000 GMT prize pool.
The challenges – starting today (2 September) – involve posting a photo or video on Twitter or Instagram based on four themes: STEPN before and after, 12,000 steps, burger burn and best running friends.
As part of its Twitter announcement, the move-to-earn lifestyle app said people using the app had collectively run more than 104 billion miles so far since STEPN had launched and burned more than six billion calories, which is equal to 24 billion cheeseburgers.
1 September 2022: STEPN is ‘brilliant idea’ says Time article
TIME is an American news magazine and news website published and based in New York City.
In the article, Stefan Ateljevic, an entrepreneur based in Serbia, tells TIME how he was earning “upwards of $100 (£86) per day” using STEPN.
As well as earning crypto he said he started to enjoy working out. Ateljevic said: “The idea is brilliant because it forces people to get out of the house, à la Pokemon Go. Nothing is better mentally and physically, than to get some proper exercise daily.”
STEPN is a move-to-earn lifestyle app.
22 August 2022: STEPN, Atlético de Madrid and WhaleFin team up for NFTs launch
Atlético de Madrid and WhaleFin will launch a collection of football boots in non-fungible token (NFT) format on the STEPN mobile app.
In July 2022, Atlético de Madrid announced WhaleFin’s logo would go on the front of the main team’s kit after Amber Group became the team’s official global and main partner.
How many NFT football boots are coming?
In total 1,001 Genesis NFTs will be made available, which will be divided into three categories – common, uncommon and rare. The common category will consist of 850 NFTs, uncommon 140 and rare 11.
Everyone who purchases an NFT will be entered into a draw for an exclusive experience that includes a trip and hotel stay, as well as tickets to see a match at the Cívitas Metropolitano, the home stadium of Atlético de Madrid.
From the sale of the NFTs, 10% will go to the Atlético de Madrid Foundation, to help fund international schools. The foundation’s aim is to promote the principles and fundamental values of sport in society and to help improve education, especially among children and adolescents.
‘Unprecedented deal with STPEN’
Mable Jiang, chief revenue officer (CRO) of STEPN, said: “This partnership with WhaleFin and Atlético de Madrid will offer a unique experience to fans around the world. It is an unprecedented agreement for STEPN.
“Through this collaboration, we aim to connect the world of physical activity with the Web 3.0 space by providing tangible rewards in the real world.
“The launch of this collection is a key step in our journey to show the value of collecting and the usefulness of NFTs and we see great potential in helping partners connect with their communities through our products. We are happy to work with such a renowned organisation in promoting a healthy lifestyle and promoting interaction with its fans.”
2 August 2022: STEPN utilises Donald Trump slogan
STEPN has channelled its inner Donald Trump and retweeted an image of a red baseball cap with the slogan ‘Make STEPN Great Again’ printed on the front of it.
The phrase ‘Make America Great Again’ was used by Trump during his successful 2016 presidential campaign.
Despite the rhetoric, as of 2 August STEPN’s governance token, GMT, was down 5.7% on the previous 24 hours and trading at $0.9162, according to CoinMarketCap.
Both Ronald Reagan and Bill Clinton, two former US presidents used the slogan, however, Reagan’s version read: “Let’s Make America Great Again”.
29 July 2022: STEPN calls on users to ‘conserve nature’
STEPN has announced it wants to “conserve nature” and encouraged its users to do the same as a way of celebrating World Conservation Day 2022.
The Web 3.0, move-to-earn lifestyle app shared the observation with its Twitter followers to mark the day, which falls on 28 July every year.
Many of its users, added STEPN, would “echo” the idea that “when I’m stuck on a question, I spend some time in nature and always find my answer.”
26 July 2022: STEPN unveils first Twitter and Instagram video competition
STEPN has unveiled its first Twitter and Instagram competition with the aim of spreading awareness about itself as a Web 3.0, move-to-earn lifestyle app.
To take part, users must post a 10 to 30-second-long video on Twitter or Instagram about the theme of local scenery, for example, nature. Competitors must follow STEPN’s Twitter or Instagram pages and make sure to include the hashtags #STEPNrun and #STEPN in their posts.
For those deemed to be in first to third place, there is a prize of APE Realm OG Shoebox. For those in fourth and fifth place, the prize is 50 GMT, STEPN’s governance token, and 20 GMT will be awarded to those who come sixth to tenth.
STEPN supporters have until 8 August to submit their entries while the winning entries will be selected between 9 and 22 August.
15 July 2022: More than 300,000 wallets interact with STEPN’s DEX in a month
More than 300,000 unique wallets have interacted with DOOAR, the decentralised exchange (DEX) launched by STEPN last month, the organisation has revealed.
STEPN said the number represents about 30% of total daily Solana (SOL) users.
The exchange is meant to allow multi-chain swaps while providing interest-like rewards to liquidity providers, and reduce the selling pressure on GST, the utility token of the Web 3.0 lifestyle app, and GMT, its governance token, by “incentivising users to lock in their tokens”.
7 July 2022: FTX supports ERC-20 GMT
FTX, the cryptocurrency derivatives exchange, is now supporting the ERC-20 GMT token.
ERC-20 tokens are tokens designed and used solely on the Ethereum (ETH) platform.
Fabin Vogelstellar, a crypto developer, proposed ERC-20 in 2015 as a way to standardise the tokens within smart contracts on the Ethereum blockchain.
5 July 2022: Bybit offers GMT traders chance to win slice of $8m prize pool
The World Series of Trading (WSOT) competition, which is powered by the crypto exchange Bybit, is offering people the chance to win a share of a prize pool worth $8m (£6.5m) in Tether (USDT) by trading GMT.
People can either be part of a team or lead one “to trading victory” during the competition. Teams can include 200 or more traders from around the globe and the team with the highest trading volume wins.
Bybit describes WSOT as its “biggest and most exciting trading competition”. The prize pool was originally $6m in USDT (£4.9m). Those who wish to take part still have until the 7 July to register.
30 June 2022: STEPN to host meet up in Oregon in July
STEPN will be hosting a meet up in Portland, Oregon, on 23 July.
People will be given the chance to meet other STEPN users and STEPN ambassadors.
The event will also feature a 5k run with prizes and giveaways.
STEPN stated: “All STEPN users, family, friends or curious others are welcome to participate.”
27 June 2022: 2,000 APE Sneaker NFTs to be won in STEPN competition
STEPN, the Web 3.0 lifestyle app,has launched a competition to win one of 2,000 APE Sneaker NFTs (non-fungible tokens).
In order to be eligible to win you must have performed the Sneaker Enhancement, where players burn five pairs of sneakers of lower quality to get better sneakers of a higher quality.
21 June 2022: GMT price up 15% as STEPN completes network update
GMT, the governance token of the Web 3.0 lifestyle app STEPN, is trading up by 15% over the past 24 hours after developers updated the app and fixed some bugs.
In addition, STEPN hinted in its announcement on Twitter that a new realm may be coming, which effectively means the adoption of its utility token GST by another blockchain.
“We’re pleased to inform our users that in the latest version of the app, we have added the Sneaker Enhancement (burn five lower quality Sneakers to get one better quality Sneaker) and have adjusted the energy sharing rules,” said STEPN.
“We also updated the energy sharing across realms. Starting from this update, energy will NOT be shared across the realms. The energy sharing rules proposed in the Action Plan will be fully implemented at the launch of the next Realm.
“In addition to the above, we improved the feedback function, added [a] help centre and fixed known bugs.”
According to CoinMarketCap, STEPN (GMT) was changing hands at $0.8281, up by 26% over the past seven days, but it was down by 39% over the last 30 days.
All values are correct as of 08:45 BST (UTC +1).
16 June 2022: GMT rebounds as STEPN launches its decentralised exchange
GMT, STEPN governance token, rebounded as the network announced the launch of DOOAR, a new multi-chain decentralised exchange (DEX), while also cracking down on cheating.
According to developers, the exchange would allow multi-chain swaps while providing interest-like rewards to liquidity providers, also reducing the selling pressure of GST and GMT by “incentivising users to lock in their tokens”.
The network, which said it will charge a transaction fee of 1% to fund the game economy like burning GMT and NFT sneakers, also implemented an anti-cheating mechanism called SMAC, consisting of a machine learning system.
“We’ve fought off DDOS attacks, cracked down on cheating, and worked hard to combat volatility in our new BSC realm,” said STEPN developers.
“Stopping cheating is a top priority for us. Our team of developers has worked for over three months to build our new anti-cheating mechanism, STEPN’s Model for Anti-Cheating (SMAC), which went live in the latest update,” they addded.
According to CoinMarketCap, GMT is trading up by 8.1% at $0.6454. GMT market cap was $387.2m, while trading volume was $534.1m, up by 12.8% over the past 24 hours.
All values are correct as of 8:45 BST (UTC+1).
9 June 2022: GMT bounces as STEPN announces major changes
GMT broke the $1 resistance again as STEPN developers announced significant implementations of the Web 3.0 lifestyle app, after a community members’ call, with more than 1,500 responses submitted.
The accomplishments mainly focus on dynamic minting costs, through introducing a new minting formula, capping the supply of the Green Satoshi Token (GST), STEPN utility token, to “ensure sustainability” to the system.
The move came after several analysts pointed out that the STEPN model would have been unsustainable in the long term, as its GST token supply was not capped.
Other improvements covered sneaker NFTs recycling issues, with the network introducing a new burning mechanism, by allowing the possibility of synthesising five same-quality sneakers into a sneaker of the next higher quality.
Developers also dealt with cross-realm energy bridge issues as the network, running on the Solana blockchain, expanded on the Binance smart chain.
According to CoinMarketCap, GMT, STEPN governance token, was trading at $1.02 on the morning of 9 June, up by 1.5% over the previous 24 hours. GMT market cap was $608.8m while trading volume was at $607m, higher by 24% over the previous 24 hours.
Values correct as of 09:15 BST (UTC+1).
6 June 2022: GMT rebounds after STEPN DDoS attack during the weekend
GMT rebounded after a troubled weekend for the STEPN app as it was affected by multiple distributed denial of servce (DDoS) attacks.
The Web 3.0 lifestyle app governance token was trading earlier today at around $1.05 after a low of $0.93 was witnessed on Sunday.
“We were experiencing network issues due to a 25 million DDoS attack sent to the server within a short period of time,” reported STEPN on Twitter. STEPN went on to say that due to this network congestion, its artificial intelligence software did not receive user information and identified users as bots.
“We apologise for the inconvenience; as a result, we have launched a double energy event. All players can double energy during the event (not to exceed the upper limit of 20 energy),” STPEN added.
According to CoinMarketCap, GMT is changing hands at $1.05 up by 10.4% over the past 24 hours. The market cap of GMT was $631.1m while its trading volume was $600m, a 64% rise over the last 24 hours.
Values are correct as of 09:30 BST (UTC +1).
1 June 2022: STEPN tokens crash as Sneakers NFTs floor price plummets
The STEPN utility token, Green Satoshi Token (GST), has crashed on the crypto market over the past 30 days reporting one of the heaviest drops after the crypto turmoil triggered by the UST de-pegging.
The utility token, which can be used to level up and mint, sell and rent Sneakers NFTs, which are utilised to access the Web 3.0 move-to-earn app, witnessed an 80% fall on Solana to $1.16 over the past 30 days, while over the same period, on Binance, the same token fell by more than 90%, to $2.36.
The sell-off wave also hit the STEPN governance token, GMT, which plummeted to $1.14, a drop of more than two thirds over the past 30 days.
On the NFT market, STEPN Sneakers NFTs floor price plummeted to around $6.7 over the past seven days, almost halving from its $13.58 value witnessed on 26 May, according to Moonly data.
Sales volumes were also witnessing a general downtrend, with interest in NFT sneakers that seems to gradually diminish.
According to CoinMarketCap, GMT is trading down by 6.1% over the past 24 hours. GMT market cap was $680.8m, while trading volume was at $830.3m down 25% over the past 24 hours.
All values are correct as of 09:00 BST (UTC+1).
30 May 2022: GMT back on track with high STEPN volumes as cryptos rebound
The STEPN governance token, GMT, is gaining momentum in the crypto market after the sell-off mood witnessed at the weekend as the web 3.0 lifestyle app announced it would cease its services in mainland China.
On Friday 27 May, STEPN developers announced they would stop providing GPS and IP location services to Chinese users to comply with local regulations. The token swiftly dropped from $1.24 to $0.85
Since then, helped by a general uptrend in the crypto market, the token has climbed back and was changing hands at $1.22 up by 28% over the past 24 hours, according to CoinMarketCap.
The token also witnessed high trading volumes over the past 24 hours. At the time of writing, GMT trading volume was at $1.5bn up by 95% in the last 24 hours, while GMT market cap was $723.7m.
Values are correct as of 9:00 BST (UTC+1).
27 May 2022: GMT falls below $1 as STEPN stops services in China
GMT, the governance token for the Web 3.0 lifestyle app STEPN, dropped 25% to $0.93 as STEPN’s developers announced they would stop providing GPS and IP location services to Chinese users from June 2022 to comply with local regulations.
Apologising for the “inconvenience”, the STEPN team continued: “If you expect to log in and use your account from a GPS or IP location in the region for a long period of time, we encourage you to make your own decisions about the handling of in-app assets.
“STEPN has not engaged in any business in mainland China since its establishment and has not provided download channels.”
According to CoinMarketCap, GMT is trading down by 25% at $0.9321 over the past 24 hours. GMT market cap was $560.6m while trading volume was at $2.4bn, reporting an around four-fold (325%) increase over the last 24 hours.
Values are correct as of 09:15 BST (UTC+1).
26 May 2022: GMT down 10% as STEPN unveils plans to develop new games
“We will continue to strive through our initiative Realms to broad base the ecosystem to as many users as possible via the introduction of new games into the STEPN verse,” said developers of the Web 3.0 lifestyle app.
As the network outlined in a series of tweets, Realms allow users to share revenues. “A realm is a server that hosts a fork of the game – different users play the same game in different realms,” added STEPN.
The tweets revealed that the app has reached three million monthly active users (MAU) with 800,000 daily active users (DAU).
The network also reported a $100m monthly revenue and daily net profit in of between $3m-$5m. However, a report by Crypto Briefing has suggested STEPN’s current economic model may be unsustainable.
According to CoinMarketCap, STEPN’s governance token GMT was changing hands at $1.24, down 10% over the past 24 hours. GMT’s trading volume was at $580m, higher by 1% in the last 24 hours, while GMT’s market cap was $742m.
Values are correct as of 09:10 BST (UTC +1).
19 May 2022: GMT drops as popular trader cast doubts on the STEPN project
STEPN (GMT) was trading down 16% on Thursday 19 May after the popular trader Algod, who predicted the UST crash, said GMT could be the next troubled coin in the crypto market. The GMT price started rebounding after STEPN published its latest post.
The renowned trader in the Web 3.0 space recently said that they would not invest in GMT in the long term. According to Coingape, critics have underlined that STEPN cannot indefinitely keep rewarding users with tokens unless it sees a steady influx of buyers.
However, STEPN observed in its latest post on Medium: “As Jeffrey Bussgang and Jono Bacon wrote for Harvard Business Review, businesses that focus on building community unlock extraordinary competitive advantages and both create and support a superior business model.”
STEPN said it is planning to implement a rental system, where users can rent non-fungible token sneakers to other users while building what it called a “digital campfire” for Web 3.0 exercisers. Developers at STEPN have also built bots to remove unnecessary spammers and scammers from the STEPN Discord channel.
According to CoinMarketCap, GMT, the lifestyle Web 3.0 app’s governance token, is trading at $1.37 down 8.2% over the past 24 hours. GMT trading volume was $1.1bn, 12% lower over the last 24 hours, while GMT’s market cap was at $825m.
Prices are correct as of 14:30 BST (UTC +1).
17 May 2022: GMT rebounds as STEPN daily users increase
GMT, the governance token of the Web 3.0 lifestyle app STEPN, is rebounding on the crypto market, as the network revealed its number of daily users had increased to 700,000.
According to the latest STEPN report, released on Tuesday 17 May 2022, daily users rose by 200,000 from the 500,000 figure witnessed at the beginning of May. STEPN developers also said they had “released the new version of the app with 2FA (two-factor authentication), optimised profile settings and more upgrades”.
GMT was changing hands today at $1.56, up by 8.4% over the past 24 hours but around 18.7% lower over the past seven days, according to CoinMarketCap data.
GMT’s market cap was $936.2m, while trading volume was at $916m, higher by 4.1% over the past 24 hours.
Prices correct as of 16:30 BST (UTC+1).
10 May 2022: STEPN burns 68 million coins as GMT drops 40% in 7 days
The STEPN network burned over 68 million GMT or around 10% of the circulating supply as the Web 3.0 lifestyle app governance token has dropped 43% over the last seven days.
Developers had also introduced GMT payments to mint sneakers NFTs, which allow users access to the app, in an attempt to stop GMT from bleeding by leveraging on STEPN’s utility token – the Green Satoshi Token (GST).
“Prior to this, minting sneakers only cost GST. They switched up the minting costs to include GMT tokens as well while reducing the amount of GST required,” explained STEPN in a post on Medium.com.
The network said it is meanwhile working on cooling down and stabilising the price of GST to maintain a low entry point to new subscribers. It is doing this by using a dynamic minting process for sneakers NFTs taking into account the USD value of GST and adjusting the GST needed to mint a shoe.
At the time of writing, GMT was changing hands at $1.95 down by 16% over the past 24% hours as a sell-off mood is hitting the crypto market. The GMT market cap was $1.1bn while trading volume was at $2.7bn, up by 90% over the last 24 hours, according to CoinMarketCap.
GST was instead trading at $3.87 down by 1.4% in the last 24% hours and lower by 40% over the past seven days.
5 May 2022: STEPN hits 2.3m monthly users as GMT loses 28% in 7 days
GMT, the governance token of Web 3.0 lifestyle app STEPN, remains one of the trendiest coins on the market despite a week of losses as the network said it reached over 2.3 million monthly active users.
“STEPN has blossomed into a vibrant community of over 2.3 mn monthly active users and attracted over half a million daily active users,” said STEPN developers.
According to STEPN developers, a few hours before the STEPN NFT airdrop to inaugurate the launch of STEPN Public Beta Phase IV on 01 May 2022, GMT exceeded trading volumes of lead cryptos like bitcoin (BTC) and ethereum (ETH), as traders were accumulating GMTs in the light of the airdrop.
However, subsequent sales, alongside the current sale pressure on the crypto market, brought GMT price to fall from the $4 level to around a $2.9 resistance, with a 28% loss over the last seven days, according to CoinMarketCap.
GMT was changing hands at $2.88, down by 10.8% and with a trading volume of $1.3bn lower by 11.5% in the last 24 hours at the time of writing. GMT market cap was at $1.7bn.
28 April 2022 GMT jumps up 20% as OpenSea welcomes STEPN sneakers NFTs
Green Metaverse Token (GMT), the governance token of the Web 3.0 lifestyle app STEPN, has witnessed more than a 20% increase over the last 24 hours after the largest NFT platform OpenSea said it would power STEPN sneakers NFTs.
The sneakers NFTs, minted on the Solana blockchain, allow users access to the fitness move-to-earn app, which is aimed at earning in-game currency while walking, running or jogging.
“Welcome to the Stepnofficial community, another Solana project now available on OpenSea,” tweeted the NFT platform.
At the time of writing, GMT has been changing hands at $3.98 up by 20.55% in the last 24 hours, according to CoinMarketCap.
Moreover, the STEPN governance token witnessed a whopping 210% increase in its trading volume over the last 24 hours to $4.2bn. GMT currently has a market capitalisation of $2.3bn.
22 April 2022: GMT price ‘may reach AXS levels’, but experts dampen hopes
After a 44% price increase in the last seven days, the Green Metaverse Token (GMT), the governance token of the Web 3.0 lifestyle app STEPN, is dividing analysts.
The GMT coin, which is just starting out in the crypto market, has been compared to the AXS token from the non-fungible token (NFT) games platform Axie Infinity, which reached a $46 price level in a few months, after having hit a $165.37 all-time high on 6 November 2021, according to CoinMarketCap data.
“Tell me how $APE + $GMT ripping in a sideways market doesn’t look similar to $AXS back in May 2021,” tweeted Wangarian, a popular independent analyst in the space.
However, other experts have pointed to GMT’s value, currently at $1.9bn with a fully diluted market cap at around $19bn, as a joke, or in other words too high for such a coin.
“Honestly, the fact that $GMT is valued at $1.9bn (FDV $18bn) is an absolute joke but tells a lot: The potential of the markets is insane and we're still early. Marketing is doing its thing in #crypto all over again. Valuations can still become ridiculous,” tweeted Michaël van de Poppe, CEO at consultancy and educational platform, Eight.
On Friday 22 April 2022, GMT is changing hands at $3.17, down by 1.4%, with a 28% lower trading volume of $2.2bn in the last 24 hours, according to CoinMarketCap data.
19 April 2022: STEPN coin GMT up by 45% after partnership with Asics
GMT, the STEPN governance token, skyrocketed by 45% after the Web 3.0 app for runners announced a partnership with sports equipment manufacturer ASICS to drop mystery boxes of NFT Sneakers on the Binance NFT Marketplace.
The 45% increase in GMT’s price followed a jump from the $2.25 level to the current $3.29 resistance. The token also witnessed a 195% increase in its trading volume in the last 24 hours, around $5bn at the time of writing on 19 April 2022, with the GMT market cap reaching $1.9bn, according to CoinMarketCap data.
The NFT Sneakers come in four different designs – Walker, Jogger, Runner and Trainer – with each design having two rarity levels: Uncommon and Common, which are still available on the market according to a post by STEPN on Twitter yesterday. Each mystery box contains one unique NFT sneaker and is priced at BNB0.5 – equivalent to around $210 at the current rate.
As ASICS and STEPN explained in their announcement, with each NFT sneaker collected, NFT holders can participate in STEPN’s move-to-earn game by walking, jogging, or running outdoors to earn in-game tokens. The tokens can be used in the game to level up their NFT sneakers or be cashed out for profit.
The top 30 users ranked by their NFT transaction volume on the STEPN x ASICS NFT Sneakers Mystery Box collection will share a prize pool of GMT3,000 token vouchers.
DDOS attack on STEPN
However, in the past 24 hours, the network said it was targeted by distributed denial-of-service (DDoS) attacks – malicious attempts to disrupt the normal traffic flow to a computer server.
“Shortly after the last update, our server has endured several DDOS attacks. The attacks have caused some network congestions, our dev team has fixed most of the issue and the server has resumed its normal function,” explained the STEPN network in a tweet.
The network said it is currently investigating and tackling the issue, and added: “[The] DDoS attack peaked at 12.39 million requests in a short duration in an attempt to cripple our server. After we put a stop to it, [the] following attacks are done in a long tail format aiming to jeopardise user experience, totalling at 71.28 million requests.
“We are now processing a total number of 19,877 missing GST [the network’s game token] transactions from yesterday. People affected by this issue should expect to receive their token in the next couple of hours.”
4 April 2022: STEPN NFTs generated a profit of over $26.8m in Q1 2022
STEPN has announced it earned a profit of SOL198,635 – equivalent to just more than $26.8m – in the first quarter of 2022 from its non-fungible token marketplace through trading and royalty fees.
The move prompted some sales of the STEPN governance token, GMT, after the network announced the result – and the next step in its long-term strategy.
The Web 3.0 lifestyle app, which debuted in December 2021, is a move-to-earn NFT project that pays users in crypto to run or move outside.
“In order to create more value for the STEPN ecosystem, we will be using this profit to buy back and burn GMT on-chain from secondary market,” said STEPN in the statement issued on its Medium.com account.
GMT was trading down by 4% at $2.35 with a trading volume of around $1.5bn, which was down by 34% over the past 24 hours. The market cap was at $1.4bn at around 15:30 BST (UTC +1), according to CoinMarketCap.
23 March 2022: Web 3.0 now gamifying fitness industry with ‘move-to-earn’ tech
Billion-dollar opportunities could await in the metaverse as fitness and so-called move-to-earn technology comes under the spotlight. Among the active companies in this Web 3.0 space is lifestyle app STEPN, which is seeing an upward trajectory in its latest figures.
“Over the past month, STEPN has been gaining traction as more users join the ‘move-to-earn’ economy,” said analysts at Delphi Digital analysts. Indeed, the Web 3.0 start-up reported daily user numbers have soared since the new year from 1,500 to 100,000 on 23 March 2022.
For more about this, read the full report at Currency.com.
With additional reporting by Raffaele Redi.