Popular Move-to-Earn Project STEPN Hits One Year Milestone Despite GMT Price Crash

Move-to-earn lifestyle application STEPN celebrates its first anniversary as it looks to expand its community. The post Popular Move-to-Earn Project STEPN Hits One Year Milestone Despite GMT Price Crash appeared first on BeInCrypto.

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Over 4.7 million users registered on the app, logging a collective 67 million miles, Solana reported on Thursday. The post Users logged over 67 million miles on the move-to-earn app Stepn since launch appeared first on The Block.

STEPN, a Web3 app that features in-built GameFi and Social-Fi and leverages blockchain-based tokenised incentives to encourage an active outdoor lifestyle, is today celebrating its one-year anniversary. STEPN hits key milestones and inks partnerships The company, which launched in 2021, has seen massive growth amongst community members with users clocking over 4.

The move-to-earn health app STEPN and the brand-new metaverse GigaSpace have formed a strategic alliance to create a digital STEPN Metropolis for their respective communities. GigaSpace is creating a digital environment that is not only intended for Web3.0 events but also for Web2.0 events that can dive into Web3.

The two have formed a strategic partnership to build a virtual STEPN city in the GigaSpace metaverse.   The new metaverse GigaSpace has formed a strategic partnership with the move-to-earn fitness app STEPN to build a virtual STEPN City for their community.

According to Footprint Analytics, GameFi projects characterized by a ‘play-to-earn' (P2E) business model have seen a decline in user interest since the beginning of the year. Between April 2021 and August 2022, the index for new users in the GameFi space dropped by 57%.

STEPN (GMT) has struggled to show its move in recent months after ranking as the top gainer for several weeks against tether (USDT). The price of STEPN has struggled to rally to $1 despite the market seeing relief bounces across the market, with many altcoins producing double-digit gains, with the price of STEPN (GMT) showing little or no steam left for a major rally.

STEPN [GMT] is beginning to show signs of volatility again as the GameFi application continues to lose its strength of user growth. The GameFi-based Web3 application has become a target of bear market conditions in recent months like the majority of crypto assets.

Uniglo is a new cryptocurrency that has the potential to be evaluated higher than Stepn and Kusama. This is a rare chance to invest in a crypto that has the potential to grow significantly in value. Uniglo has a strong team of experienced developers, a large community of supporters, and a solid roadmap.

STEPN [GMT], a Web3 lifestyle application with social and game elements, recently registered a massive decrease in its user base. In the month of February, STEPN's user base surged considerably, as it grew more than 100 times in the next few months.

STEPN [GMT] was recently highlighted in a recent Messari Twitter thread which evaluated its performance before and after Solana [SOL] network woes.  The thread showcases how market changes can disrupt and potentially destabilize dapps.