GMT GMT Price

Stepn History

• Stepn was launched in August 2021 by Find Satoshi Lab, an Australian studio founded by Jerry Huang and Ian Ron, who already had experience in the cryptoindustry. In October of the same year, the game finished its first tests and won the hackathon by Solana Cryptocurrency.
• In December 2021, Stepn was officially launched.
• In January 2022, the team was able to attract the first major investments of $5 million from 15 venture funds, including Sequoia Capital, Folius Ventures, and Solana Capital. In early April, Binance Lab announced its investment in Stepn, without naming the exact amount invested.
• On August 20, 2022 StepN announced an agreement with Asics , a Japanese sportswear company. After that, Asics released a limited edition collection of NFT sneakers on the Binance NFT Marketplace, which participates in the initiative as a partner.

How STEPN Works

The STEPN cryptogame is based on the following scheme:

1. You are rewarded for physical activity such as running or walking. These activities are controlled through a smartphone application of the game (it is available on iOS and Android) using GPS;
2. To start receiving rewards, first you need to buy a special NFT in the form of sneakers.

There are different sneakers for each speed. After you buy sneakers, they drop into your inventory in the app and you can choose them for your run. In total, there are four of these sneaker types:

• Walker for walking at 1 to 6 km/h;
• Jogger for a speed of 4 to 10 km/h;
• Runner for a speed of 8-20 km/h;
• Trainer for speed of 1-20 km/h (you can choose your own pace).

Types of sneakers

The number of coins you earn depends on the type of sneaker and how much it is upgraded. Users can repair their NFT-shoes and improve them using GST. Moreover, the in-game money can be exchanged on the cryptocurrency exchange. It is possible to sell your NFT-sneakers on the official Marketplace site.

Over time you will be able to increase your level, and consequently the number of GST you get. But here is another nuance: first, sneakers can wear out, which means you will need to buy new NFTs, and second, there is a recovery time for sneakers (as a rule, not more than 24 hours).

By clicking on your sneakers, you can see details about them:

• Efficiency. It directly affects the amount of earnings of GST tokens.
• Luck. Improves the chance of dropping Mystery Box bonuses.
• Comfort. Affects the amount of GMT control tokens you get. Initially this stat is blocked, but opens when NFT reaches level 30.
• Elasticity (Elasticity). The higher the score, the less GST will be required to repair the wear and tear of the sneaker.

Meanwhile, the game has a good balance:.

• An initially limited supply of GMT tokens: there will be no more than six billion of them, and this token will be burned when new "sneakers" are created.
• Sneakers have different characteristics. For example, there is a class (the preferred type of physical activity depends on it), there is rarity (the rarer it is, the more "coins" it gives), and level (the more GST to invest, the higher it is). In other words, by buying more expensive sneakers, you can earn more with them. And if you invest the earned money in upgrading, the rate of earning will grow even more.
• You can't earn endless money by making your phone simulate running all day long because the application has serious limitations on "energy reserves," which must be replenished periodically (simply by waiting for it to be restored).

Using the App

After you turn the app on, it will start tracking the movement of your smartphone via GPS. It has quite reliable algorithms, which will not allow to cheat the system: it will calculate when the phone travels in the car, and will not accrue bonuses;

Your movement counts if you have units of energy: for 2 units you can move for 10 minutes. But the amount of energy depends on the class of sneakers and how upgraded they are. So, to make the movement count for longer, you need more investment.

An important part of the game is "minting" or creating new sneakers by combining two tier 5 or higher sneakers. Each sneaker can complete the procedure no more than seven times, and each time it will cost more and more. After minting, all sneakers remain on the account ( meaning that merging units are not burned).

Advantages and Disadvantages of Stepn

STEPN is not the simplest and common project, which has not many analogues today, which is why it has a number of pluses and minuses.

Summary

STEPN is promoting a healthy lifestyle and has an extensive community, with over a million users already downloading the app on Google Play. At first glance, the STEPN project has a bright future, but you can't be sure of its success. Since the market capitalization of GMT is low compared to other crypto projects, we can expect both a sharp increase and decrease in the price.