Stepn application and GMT token - a new hit on the cryptocurrency market?

Crypto market mods change rapidly, but interregnum times are rare. We all remember how much you could earn on the boom of meme cryptocurrencies. There was also time for NFT, game tokens and metaverse. Are we witnessing the beginning of the token boom? move to earn? What does he have to do with it GMT cryptocurrency and the Stepn app? We check.

We are continuing the cycle of the Forex Club portal in which we analyze and describe the largest, highest-valued, most interesting, most developing, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for an application that gives away cryptocurrencies for ... walking in special shoes. Yes, it's not a joke, and one of the first move to earn projects, which is already conquering the world.

A new fashion on the cryptocurrency market?

It is no secret that apart from the real usefulness and modernity of cryptocurrencies, their valuations are also influenced by the current fashion. It is similar on the traditional stock exchange, when there are periods when the valuations of, for example, technology, construction or raw materials companies increase the most.

On the cryptocurrency market, we already had, among others big increases in meme-based cryptocurrencies, it had (and still has) its time NFT, DeFi or projects play to earn, centered around the gamer community. Are we also standing at the foot of a mountain this time with millions of dollars waiting on its peak? So far it is going extremely well. From March 11 to April 29, GMT tokens went up by 3439,8%. So it was enough to invest about 28 thousand. PLN to have a total of PLN 1 million after just over two months. 

What is the STEPN application

The application was created on the Solana network. Its principle of operation focuses on rewarding users for specific actions. As in the play to earn projects, only in this case activities based on playing sports are rewarded: running, playing basketball or even walking. Instead of play to earn, we have move to earn. 

Is it gaining popularity? Of course, and at a rapid pace. The beta version started in December 2021. In January, she had 1,5 thousand. users, but in March there were 100 thousand. and that number is growing rapidly all the time. 

The industry giants also believe in this business model. The first $ 5 million was invested by companies such as Solana Ventures, Alameda Research and Folius Ventures. For this, they got about 16% of the supply of GMT tokens.

How to earn money at STEPN and get GMT tokens?

You can get the GMT cryptocurrency only when using special shoes. You can buy NFT sneakers, but also rent them. Then it is enough to start walking, running or playing off-road games. 

Shoes come in four types: walker, jogger, runner i trainers. They differ in price resulting from the so-called Attributes (Comfort, Luck, Efficiency, and Resilience); and Five Attributes (Common, Uncommon, Rare, Epic, and Legendary). 

STEPN tokens - GMT and GST

The application uses two tokens: Green Satoshi Token (GST) i Green Metaverse Token (GMT). GST has unlimited supply and GMT is a management token. However, GSTs are burned to keep their numbers under control. Every time you upgrade or repair your sneakers, you need to burn a certain amount of GST. They are also bought up every quarter and GMT is burned out. 

Rewards for being fit are given in both GST and GMT. However, shoe borrowers or those just starting out can only get GST. Only after reaching the appropriate level, you also get the more prestigious GMT tokens.

The application will also continue to be developed. A spokesman for STEPN recently suggested that a partnership agreement with a major sports brand could be signed in the near future, but the details are not yet known. However, graphics with hidden logos of the most popular brands of sports shoes, i.e. Nike, Adidas, Asics and Head, have appeared on the web. However, there are still no specific details in this regard.

GMT cryptocurrency quotes

The GMT cryptocurrency can be traded on 12 cryptocurrency exchanges from all over the world, including the largest of them - Binance. As of April 29, 2022 it is valued at $ 3,49. There are 600 of the target 000 tokens in circulation, which translates into a market cap of over $ 000 billion. The highest rate in history for GMT tokens reached April 6, 000, when each of them had to be paid $ 000.