- In the gaming world, the newly emerged player, StepN, has gained significant popularity and has drawn massive users.
- With the P2E trend of last year, M2E is another trend rewarding users as they carry out physical activities.
- At the time of writing, the StepN (GMT) token is trading at $1.45 and is down by around 0.45% in the last twenty-four hours.
StepN, the move-to-earn app that contributes to enhancing the healthy lifestyle of the folks, has witnessed high popularity within six months of its launch.
Numerous Users Joining StepN Daily
It was unboxed in December last year and has gained a significant number of users in the world of GameFi. StepN co-founder Jerry Huang recently highlighted that currently, there are 2-3 Million active app users.
Although if you look at the overall crypto sphere, it might seem to be a small win compared to other preeminent players in the market. But it is a crucial step for an app that is existing for 5-6 months only.
This move-to-earn app facilitates the users to earn from physical movements using NFT sneakers.
Individuals need to acquire the NFT sneakers to be tokenized in the M2E application. And whenever they initiate any movement like walking, jogging, running, etc., the application would start tracing their movements and then convert them into game tokens. The native token here is GMT.
The several utilities of this native token are that you can instantly pay for virtual assets, a governance token, or staking on the platform. The app’s popularity grew by leaps and bounds, so much that the team had to restrict the daily number of registrations. And as of now, the app witnesses thousands of users coming and joining the app daily.
At the time of writing, the StepN (GMT) token is trading at $1.45 with a market cap of $837,999,319 and is down by around 0.45% in the last twenty-four hours.
This project is actually a fascinating one because this Web3 project allows the users to yield income from physical activities, which is quite restricted due to the modern lifestyle. Hence, keeping them fit as well.
Play-to-Earn (P2E) was already a frenzy last year, and now this Move-to-Earn (M2E) is another concept that is becoming a trend as other projects like Genopets (GENE), and Dotmoovs (MOOV) have launched with a similar concept.
Source: https://www.thecoinrepublic.com/2022/05/25/stepn-gains-extensive-traction-gmt-witnesses-860m-market-cap/