In recent weeks, it’s hard to miss the StepN phenomenon! This game in the form of a move to earn, hosted on the Solana blockchain, allows you to earn money by walking or running. New announcement that risks panicking the community: the two tokens of the project land on Coinbase!
StepN: generate money by moving
StepN is a simple concept. You buy an NFT of shoes on the application and thanks to your movements, walking or running, you earn tokens and therefore money. The application follows your movements thanks to the GPS of your smartphone and thus counts your steps or races.
Two tokens are available in the application. GSTs, which are utility tokens that you collect by running or walking. The GMTs which are the application’s governance tokens.
GST tokens also allow you to generate new shoes, to repair them as they wear out over time. Since it is NFT, you have the option to buy or resell different sneakers on the StepN Marketplace.
The GMT governance token offers him a right to vote on the development of the application but also the possibility of staking to obtain additional rewards.
Different types of NFT and so shoes are available, runner, walker or jogger, with various characteristics influencing their performance. In view of its success, the price of NFTs has soared with a floor price today exceeding 14 SOL or more than $1,400.
Aware of this significant entry cost, StepN seems to be thinking about the possibility of renting the shoes in the future and announces this possibility for the third quarter of 2022 in its roadmap.
GMT and GST are coming to Coinbase
Faced with the enormous success of the project and the surge of its two tokens, Coinbase decided to add them to its platform on April 28. This announcement of the listing by one of the largest exchanges in the world, oriented towards the general public, pushed the price of GMT upwards with more than 21% increase over the last 24 hours. It is now trading around $4 and the buying pressure could continue over the next few hours or days.
Coinbase adds these two tokens with the label “experimental asset.” It is a label that allows users to become aware of the new nature of the assets or with a lower volume of exchanges than the other assets of the platform. However, no trading limits or restrictions apply to these assets.
The arrival of the two tokens on the exchange giant Coinbase marks another step in the growth of StepN. After the partnership with Asics, the rumors concerning new partnerships (Nike or Adidas in mind), nothing seems to stop the development of the move to earn phenomenon.
Given this success, new similar projects should arrive in the coming months. Moreover, one of the blockchains competing with Solana, Near recently entered into a partnership with Sweatcoin for the launch of a token this summer.
In the meantime, note that the GMT token is already available on Binance. For our part, we will carefully follow the news of this sector which fascinates the crypto ecosystem a little more every day!