Stepn Reportedly to Lay Off 100 Employees Amid Market Downturn, Company Denies It

Play-to-earn game Stepn, which lets users buy non-fungible token (NFT) running shoes and earn native crypto GMT through jogging, reportedly started a major layoff of its contract workers amid a market downturn – but the team behind the app denies firing staff.

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Move-to-earn fitness app StepN has denied reports that it has laid off staff. It says the claims are baseless and that it is actively hiring. The post Stepn denies layoff reports, hints at new projects appeared first on The Block.

Move-to-earn gaming company STEPN (GMT) will lay off over 100 of its staff, including MODs and ambassadors, according to WuBlockchain, who cited community sources. The post STEPN to lay off over 100 staff appeared first on CryptoSlate.

STEPN [GMT] registered approximately $10.36 million in profit in Q3, which would be a 90% drop from its Q2 earnings. The decline in profits could be attributed to STEPN's declining number of users and activity.

STEPN, a Web3 lifestyle app that leverages tokenized incentives based on blockchain networks to encourage people to be active outdoors, recently celebrated its first anniversary amongst community members. Over the past year, the company “raised $5 million from investors, expanded to over 4.

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.

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%.