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Important events

Jun 072022

StepN is tripN

Investors are told to put their feet up and watch Love Island or something as StepN suffers an attack that brings down its servers.

  • Move-to-earn app StepN suffered a barrage of DDoS attacks on Sunday, bringing down its servers while devs tried to fix the issue. In the end, StepN was down for about a day, taking a touch longer than the 12 hours people thought it would take to amend.
  • Clearly, someone (or something) didn’t like the new rules. The mega attack came shortly after StepN launched an anti-cheating system designed to curb fake motion data that lets users earn profit without… well, exercising.
  • Native token GMT lost some ground on Sunday and slumped 6%, but quickly got back on its feet by Monday to gain almost 8%. In the interlude of the network interruption, StepN told users to “take some rest”, which might not have gone down super well with the folks who’ve got serious money on the line.

Our engineers are working hard to fix the problems. We will announce here once recovery is complete. Thank you so much for everyone’s patience!

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May 272022

Side-stepping around China

Sorry peeps in China, it’s back to exercising the hard and boring way – move-to-earn crypto StepN is withdrawing its platform from the region.

  • GMT dumped 33% on Thursday after the move-to-earn game StepN announced it was pulling out of China. From July 15 onwards, anyone with an IP coming out of China will be stripped of GPS services on the platform, meaning they’ll not be able to run, walk or jog for GMT tokens.
  • StepN claims this is due to “regulatory policies”, but didn’t really elaborate on what it was referring to, so it's all a bit of mystery really. Lots of rumors swirling around tho.
  • Nike NFTs are going for upward of $100k on the platform, selling under the shoemaker's “Cryptokicks” venture. While many are still trying to wrap their heads around this odd NFT timeline we’re on, StepN is clearly loving the hype – the game has over 500k users and turned a $20m profit in Q1. But does it have the legs to keep the sprint up without China?
Apr 202022

Stepn up to the plate

STEPN’s native token is off to the races – up 53% since the start of the week after a trendy new collab with ASICS sees branded NFTs launching on Binance.

  • GMT was up 16% on Tuesday, after seeing prices leap and bound 31% on Monday. The bullish run-up follows an NFT sale with popular sneaker brand ASICS on Binance’s NFT marketplace. It comes on the back of news that its app is settling in with the popular kids to see over 300k people now exercising to earn on STEPN’s mobile app.
  • STEPN x ASICS is open to those who’ve subscribed to the sale on Binance NFT, and peeps will be able to buy the first collection on the BNB chain. But, prices are already doing the high jump, and the cheapest pair is currently bidding at just over $1k.
  • These aren’t your regular sneaks, though. Your NFT kicks can earn you GMT tokens and rewards on STEPN’s mobile app, and fans can even rent out their NFTs for others to earn while they put their feet up. So basically people earning money, through people wearing their sneakers… to earn money. Life is strange.
Apr 012022

A Stepn the right direction

The cryptomarket gets its latest project to pump in the form of an app that pays you to get off your ass.

🔍 Key points:

  • STEPN’s native token GMT pumped some kicks on Thursday, rising 24% on the day to the $2.50 mark – it’s now up a staggering 218% since the beginning of the week. The latest price action follows rumors of a potential partnership with a big dog sportswear brand.
  • Dubbed a Web3 ‘lifestyle’ app, STEPN adopts the earn-to-play model that lets people earn crypto in exchange for (and no, this isn’t an April fools joke) – exercise. It’s a v Black Mirror-esque platform where users can earn GMT by walking or running certain distances.
  • If players want to start earning, tho, they better warm up their pursestrings. To collect tokens, players will need to buy or rent a pair of sneakers from the app’s marketplace, paying with Solana’s SOL token. A crypto first, most probably, but if in the spirit of good health…
Illustration by TradingView