What is STEPN (GMT)?
STEPN is one of the latest entrants in the buzzing Web 3.0 space, namely in the lifestyle category. It merges the power of social media with play-to-earn and motivates people to move around more. The app takes inspiration from the success of Axie Infinity to offer a new SocialFi and GameFi experience to its users.
More About the STEPN App
Developed on the high-speed Solana blockchain, STEPN’s claim to fame lies in its ranking fourth out of more than 500 projects that participated in the Solana Ignition Hackathon in 2021. The GameFi dApp offers sneakers as NFTs to users, rewarding them to walk, jog and run outdoors.
The Web 3.0 lifestyle app STEPN was devised as a social, GameFi experience to motivate users towards adopting a healthier lifestyle and to get moving via NFT sneakers. The app also strives to tackle climate change with fun social elements which can keep users engaged with the purpose of becoming more active.
In January 2022, the startup had raised $5 million in seed funding. Investors who participated in this round included Sequoia Capital India, Folius Ventures, Solana Ventures, Alameda Research, 6th Man Ventures, and Sfermion. The app also received funding from some prominent angel investors during this round.
STEPN’s Green Metaverse Token (GMT): Explained
GMT is the governance token of the STEPN ecosystem while the users earn the game token GST as rewards for their activities. The GMT token was recently listed on the KuCoin exchange and has become one of the top-performing crypto gems on the platform.
The GMT coin has a circulating supply of 600 million as of April 2021. The total limited supply of STEPN’s governance token is fixed at 6 billion.
The game lets players buy GMTs and perform activities to earn GST tokens. These tokens can be used to make in-app purchases, move to higher levels, mint new NFT sneakers, or exchange for cash.
STEPN’s in-app marketplace lets users lease or sell their NFT sneakers in exchange for more GST tokens. These tokens are stored in the app’s very own wallet.
A Look at GMT’s Recent Performance
At the time of writing, STEPN (GMT) ranks 69 in terms of market cap in the crypto market on Coinmarketcap. This is a remarkable feat considering STEPN’s public beta launch happened just over a quarter ago, in December. This was followed by a private token sale in January when the developers sold 16% of GMT total supply to raise $5 million from prominent venture capital firms.
Should You Buy GMT?
STEPN is an exciting dApp that has captured the attention of several users and investors. Going forward, its partnerships will be key to the growth of its adoption and of GMT’s value as well. However, keep in mind that cryptocurrencies are extremely volatile in nature and it is impossible to perform accurate STEPN price prediction on which way the market could go in the future.
KuCoin IGO Global Premiere! Pikaster Is Now Available on KuCoin, Limited Sale of 18,000 Genesis NFTs
Welcome to the 1st KuCoin IGO – Pikaster Genesis Mystery Egg! web-access preferred
Users will be able to directly purchase their favorite Pikaster NFT (Egg) on KuCoin with just one click. Each Pikaster-themed Original Egg contains a random Pikaster NFT. Players with 1 Pikaster NFT will get access to the Closed BETA Test. With 3 Pikasters, players can enter the battlefield and earn more rewards by playing games (PVP, PVE, and more).
Pikaster Genesis Mystery Eggs Terms:
- Total Pikaster NFTs: 18,000 Eggs (first come, first served) + 10 Evolved Eggs
- IGO Period: 2022/04/11 12:00:00 – 2022/04/17 12:00:00 (UTC)
- NFT Sale Format: Whitelisting
|Price||Items Available||Purchase Limit|
|Pikaster Original Eggs Pre-Sale Round 1 (sold out)||30 USDT||3,000||2 Eggs for each account|
|Pikaster Original Eggs Round 2 (whitelisted required)||60 USDT||15,000||5 Eggs for each account|
|Evolved Pikaster Eggs Auction (Round 3)||Highest price will be determined by bidders||10||None|
We recommend that you invest in GMT only after performing a comprehensive assessment of the GMT to USD price action and the level of risk you are willing to take. In addition, ensure that you perform your own research and analysis of fundamental, technical, and sentiment factors before entering new trades to mitigate the risk.
It helps to follow all the latest developments surrounding STEPN and the utility of GMT before making your investment decisions.