STEPN is a Web3 app that combines GameFi and SocialFi to create an engaging experience centered around the concept of Move-to-Earn. This lifestyle dApp aims to incentivize users to get fit by offering crypto rewards for outdoor activities like walking, jogging, or running.

To start playing STEPN, users must purchase NFT sneakers from the in-game marketplace. Depending on their activity level and the NFT sneakers they use, they can earn incentives for staying active. This Web 3.0 lifestyle app, built on the Solana blockchain, encourages healthier lifestyles and contributes to addressing climate change through a unique carbon removal credits feature.

The Green Metaverse Token (GMT) is one of the two native tokens of the STEPN game and serves as the dApp's governance token. GMT is used to level up in the game and mint new sneaker non-fungible tokens (NFTs). Additionally, GMT token holders have access to in-app features, voting rights, and the ability to contribute to proposals for upgrading the STEPN ecosystem.

STEPN has set the maximum supply of GMT tokens at six billion. The game also implements various token-burning mechanisms to reduce the circulating supply of GMT, creating deflationary pressure and supporting the GMT price in the market.

The move-2-earn STEPN game ranked fourth among the Solana Ignition hackathon winners in the gaming category. The game is backed by notable investors such as Sequoia Capital, Folius Ventures, Binance, Solana Capital, DeFi Alliance, and Alameda Research.

STEPN is available as a mobile app for both iOS and Android devices. Users can register using their email addresses and purchase NFT sneakers using Solana (SOL) tokens from their connected wallets.

The STEPN Sneaker Marketplace offers a wide range of options based on the intended activity - walking, running, or jogging. When selecting a sneaker NFT, users can consider attributes or Gems such as efficiency, luck, comfort, resilience, and rarity.

STEPN players earn rewards in the form of Green Satoshi Tokens (GST), the second game token, based on their activity level and the quality of the chosen NFT sneakers. The higher the intensity and duration of the activity, the greater the rewards.

STEPN offers the following modes:

Solo Mode

In Solo Mode, users earn Green Satoshi Tokens as rewards for physical movement. After reaching Level 30, players can choose to receive rewards in GST or GMT tokens. To maximize earnings, players should stay within the optimal range of their NFT sneakers, as going above or below this range could significantly reduce earning potential.

Marathon Mode

STEPN developers will introduce Marathon Mode, which adds a SocialFi element to the game. This mode includes Weekly Marathons and Monthly Marathons, where users can register and compete with other players for rewards based on their rankings.

Background Mode

In addition to active movement, STEPN also offers Background Mode, which rewards users for up to 3,000 steps per day. However, the earning potential in this mode is lower compared to outdoor activities like walking, jogging, or running.

The open beta version of the STEPN game was launched in December 2021. The developers introduced the in-app NFT marketplace and trade function a month later, allowing players to buy and trade NFT sneakers.

In February 2022, the Gem system, which defines attributes for sneaker NFTs, was implemented. March saw an upgrade to the IEO/IDO wallet, followed by an upgrade to the in-app wallet in April 2022.

In May 2022, multi-chain wallet features were added, and in June, the team released an upgrade to support a multi-chain marketplace for the game. August 2022 marked the release of the NFT marketplace launchpad.

As of August 2022, upcoming features being worked on include an achievement badge system, the launch of Marathon Mode, and a brand expansion for STEPN. The first phase of the game's SocialFi elements is expected to go live in December 2022.

The STEPN GMT token has several uses within and outside the game, including:

Governance Token

GMT holders have the right to vote on proposals that determine the future development of the game.

Earning Rewards

Once you own at least three Energy, you become eligible to start earning GMT tokens while playing STEPN.

Leveling Up in the Game

GMT tokens are burned to upgrade sneaker NFTs and increase earning potential in the game. To upgrade a Gem attribute of a sneaker to certain levels (Level 4 and beyond), GMT must be burned. GMT is also burned for various other upgrades within the game.

Crypto Asset for Trading and HODLing

As a native token of a popular Web 3.0 app, GMT is an attractive crypto asset for investment. It can be bought, sold, or held long-term based on the belief in the game's future potential. Before entering a new trade, you can review the current price of STEPN, GMT's live market cap, current circulating supply, 24-hour trading volume, and the latest crypto news. Additionally, you can perform technical, sentiment, and fundamental analysis on the GMT price chart.

Earn Passive Income

Some platforms allow you to stake GMT and earn APYs by putting your crypto holdings to work. BYDFi offers the opportunity to earn passive income by lending GMT through our Crypto Lending feature. You can lend GMT liquidity to the exchange and earn daily interest over seven, 14, or 28 days.

While it is impossible to accurately predict the price of STEPN (GMT) over any period, the project's fundamentals suggest that it could be a promising cryptocurrency asset to invest in. As one of the most popular Web 3.0 games on the blockchain, STEPN may experience increased adoption by players, which could drive up the GMT price and market capitalization.

As more players join and engage with the game, the GMT token burn rate accelerates, making the token more valuable and potentially increasing the STEPN price and market cap. Additionally, increased activity in the NFT marketplace could contribute to an uptrend in the live price of STEPN.

Given the growing mainstream interest in Web3 applications, GameFi dApps like STEPN could become highly sought-after examples of this trend. The STEPN price could also rise alongside positive market sentiment in the crypto industry, bolstering investor confidence in purchasing digital assets like GMT.

STEPN minted six billion GMT tokens during the Token Generation Event (TGE) on March 9, 2022. Here are multiple ways to earn tokens:

Playing STEPN

You can earn GMT tokens by playing the STEPN game and progressing through the levels. At Level 30, you have the option to swap GMT for USDC.

Governance Participation

STEPN rewards participants in the game's governance by distributing GMT tokens.

Earn GMT via Staking or Lending Liquidity

In addition to earning GMT within the STEPN ecosystem, you can also acquire GMT crypto by purchasing them directly on supported exchanges like BYDFi. You can then utilize your GMT holdings for staking or lending liquidity to grow your portfolio and earn more GMT crypto.

Several activities contribute to the burning of GMT tokens within the STEPN game to reduce its total supply. Let's explore them below:

Increase GST Supply

STEPN burns GMT to permanently increase the daily earning limit on the game's Green Satoshi Token (GST).

Mint NFT Sneakers

GMT is burned during the minting of rare, epic, and legendary sneakers with high value and earning potential for players.

Improve NFT Sneaker Quality

You can burn GMT in STEPN to increase your chances of obtaining higher-quality sneakers when opening a mystery shoebox.

Re-distribute Points

The Green Metaverse Token is burned when redistributing attribute points within the STEPN app.

Upgrade Gems

GMT token burning is required when upgrading Gems on your new sneakers at levels 5, 10, 20, 29, and 30 in the game.

Improve Success Rate of Gem Upgrade

GMT token burning enhances the success rate of Gem upgrades and sneaker upgrades, potentially increasing your earning potential from the NFT sneakers you purchase and use in the game.

Leveling Up

As the game progresses, you must burn GMT to advance through levels 5, 10, 20, 29, and 30.

Better Shoe Minting

Burning GMT can also increase the likelihood of receiving two sneakers when minting NFTs within the STEPN marketplace.