STEPN (GMT) was launched on HotsCoin on January 5. STEPN is a Web3 lifestyle application that combines elements of social networking and gaming networks. GMT is currently open for trading on HotsCoin.
Summary
This report conducts an in-depth study of STEPN (GMT). Its innovative "Move to earn" concept allows users to earn tokens by walking, jogging or outdoor running, building an ecosystem that integrates social and game Fi features. The report covers token information, key events, summary, product features, accounts and wallets, and summary.
Token information
Circulation: 1,579,915,149.649 GMT
Total supply: 5,439,655,764.515 GMT
Circulation market value: $591,686,061.853
Fully diluted market cap: $2,037,178,071.15
key events
2022-04-06: Completed strategic financing, the amount was not disclosed
2022-03-09: Completed public financing round of US$4.2 million
2022-01-20: Completed US$5 million in seed round financing, with a valuation of US$30 million
summary
Stepn is the first sports APP built on Solana that combines blockchain token incentives. With "Move to earn" as its core concept, it innovatively integrates blockchain technology into daily life. By purchasing sneakers, the app allows users to earn tokens by walking, jogging, and running fast, while also introducing game elements to make the user experience more diverse.
Highlights
Strong team background, rapid advancement, and professional knowledge in the field of continuous entrepreneurship and gaming.
The product design is unique and is not limited to running users. It expands the user group through NFT so that non-running users can also participate.
Low threshold exercise requirements, friendly to ordinary users.
Good user experience and interface design.
Powerful social media operations, high user retention rate.
risk point
Anti-cheating mechanisms need to be effective over the long term, and teams need to continuously improve to prevent cheating.
The entry barrier is high, especially for non-encryption users, who need to overcome a series of tedious operations.
It is necessary to pay attention to the entry rate of new users to avoid a drop in currency prices due to GST selling pressure.
Long-term development requires attention to maintaining real users rather than speculators.
product
Stepn is a sports APP with Gamefi attributes based on Solana, which advocates the "Move to earn" concept. Users earn tokens GST and GMT by walking, jogging, and running quickly. APP functions include single-player mode, trading market, marathon mode and background mode. The user experience is good, the operation is simple, and the interface is beautiful.
Accounts and wallets
User registration needs to be through email and import or create a wallet. Earnings are deposited into the Spending account and can be freely transferred to the wallet. There are plans to support wallets on the BSC chain in the future.
Summarize
Stepn is a Web3 application that combines sports, social networking and game Fi features, with strong team support, unique product design and good user experience. However, attention still needs to be paid to anti-cheating mechanisms, user entry rates, and long-term development challenges. The current healthy development and the team's quick response make it one to watch.
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