Stepn is a sports application that makes money while moving. Users equipped with NFT sneakers can go to outdoor activities to earn tokens and NFT rewards. Stepn has a built-in wallet, NFT market, exchange and a rental system that allows non encrypted users to use stepn.
Stepn has a dual token system, a game token – Green Satoshi token (GST) and a governance token – Green metaverse token (GMT).
GMT is the native governance token of stepn, with the following use cases:
Governance: mortgage to participate in governance. The longer the lock-in period, the higher the voting right.
Mortgage reward: GMT mortgagors can vote to decide the distribution of mortgage reward.
Accumulation of agreement Revenue: GMT needs to be burned to access in app functions, such as sneaker upgrade and casting of new sneakers.
The current functions of stepn include:
Mobile app: stepn has been launched in IOS app store and Google play store (some countries only).
Sports shoes NFT: each sports shoe has different types, qualities, attributes and gem slots. Users can upgrade and customize Sneakers by burning tokens.
Move and earn: users equipped with sneaker NFT can move outdoors and earn tokens. The application has multi-layer anti cheating mechanism to prevent cheating.
Rental system: users can rent sneakers for free, earn while moving, and then divide the income with the owner of sneakers.
In app NFT Market: users can trade their NFT in the market.
In app exchange function: users can exchange their token income into other forms of cryptocurrency.
In app decentralized Wallet: users can deposit or send cryptocurrency to their wallet to fund their consumer account.
Stepn has raised about $5 million from investors, of which 16.30% of the total supply of GMT tokens is sold at $0.005/gmt.