STEPN

STEPN (GMT) is a Web 3.0 application based on the Solana blockchain. It combines aspects of Web 3.0 with GameFi to serve a popular new category—Move to Earn. Users can earn tokens by walking, running, or jogging, and spend these points on NFT sneakers. The goal of the application is to revolutionize the Move-to-Earn industry by incentivizing people to become more active and spend less sedentary time.

STEPN (GMT) directly incentivizes users to maintain healthier lifestyles by spending more time walking, jogging, or running. The project reinforces these habits by its straightforward token reward mechanism. After buying NFT sneakers on the application, users can earn Green Satoshi Tokens (GSTs) by staying on their feet. How many GST tokens they earn depends on the sneakers users buy—every pair has a different GST generation rate.

Here are the primary features of the STEPN (GMT) coin:

• The project makes NFTs somewhat accessible for new users by allowing them to collect coins at their own pace and exchange them on the platform for whatever they can afford.
• STEPN (GMT) operates primarily with two types of tokens: GST (Green Satoshi Tokens) and GMT (Green Metaverse Token). GST tokens are unlimited and can be collected whenever users walk, jog, or run.
• GMT, on the other hand, is limited to 6 billion tokens.

STEPN (GMT) was founded in August of 2021 by Yawn Rong, an Australian entrepreneur operating in the blockchain space, along with his neighbor and partner Jerry Huang, a game developer and founder of Falafel Games. Mr. Rong has been credited with the success of Crypto SA, a crypto fund and audit company which he founded. He has also served as an ambassador for Algorand. Under their leadership, the project raised more than $5 million from top venture capitalists like Sequoia Capital and Solana Capital. 

STEPN (GMT) is a Solana-based application. Until recently, STEPN (GMT) was using Orca, Solana’s most widely used decentralized exchange as its platform of preference. Since then, the project has shifted to its decentralized exchange called DOOAR.

STEPN (GMT), like Solana, works on Proof of History, which provides it the required security and immutability to record and maintain Web 3.0 transactions. 

Here are some pros and cons of investing in STEPN (GMT)

Pros of STEPN (GMT)

• All users must buy NFTs to use the platform completely, which means they actively participate in the Web 3.0 community.
• The platform, at its core, promotes healthy lifestyles and fitness—ideas that never go out of style.
• The user interface has been designed to be especially friendly and welcoming, bypassing everything that makes crypto applications seem overwhelming.

Cons of STEPN (GMT)

• An upfront payment is required to buy an NFT, without which users cannot interact with the platform completely.
• Rewards might sometimes take a lot of time to accumulate.
• STEPN (GMT) faces fierce competition from projects like Mehracki, Audius, and Friends with Benefits.

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