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STEPN, a Move-to-earn Web3 app, which is strategically invested by Binance Labs

Binance Labs, Binance’s innovation and venture capital incubator, announces its investment in STEPN, a Move-to-earn Web3 app where users can earn money for every move they make presently.

In StepN, users equipped with NFT Sneakers can move outdoors to earn tokens. It has unique Game-Fi and Social-Fi elements that keep users engaged and motivated to move outdoors for rewards. STEPN has a built-in wallet, swap, NFT Marketplace and many features in the application for users to easily join. STEPN will use this fund to develop their app and grow the community.

STEPN’s mission is to empower millions of people to a healthier lifestyle, connect them to the web3 and make a positive contribution to carbon neutrality.

To get started, users download the app and purchase NFT Sneakers according to their fitness level. They can then earn game tokens by walking, jogging or running outdoors, which can be used in an in-app game or cashed out for profit. There are unique features in the app like sneakers upgrades, shoe molding, mystery boxes, NFT customization, and social interactions. Users need to strategize in their application in various modes to achieve the best results.

STEPN has a dual token system: a game token – Green Satoshi Token (GST) and a governance token – Green Metaverse Token (GMT). Users burn GMT to access in-app features and stake GMT to participate in governance.

Bill Qian, Director of Binance Labs, said, “As ‘Move-to-earn‘ is joining the Web 3 trend, STEPN is contributing to the rapid growth of users. We believe that the gamification of fitness exercises can attract more people into the industry, promoting the mass adoption of cryptocurrency and blockchain technology.”

Jerry Huang, STEPN Co-Founder, said, “Our community is the backbone of our growth and seeing them rewarded is our biggest motivator. Now a new player can make a good profit by walking/running even for 10 minutes and a savvy player can earn not only nice token profits but also rewards Another NFT every day! ”

Yawn Rong, Co-Founder of STEPN, added, “Although we have grown 100x in the past few months, this is just the beginning of our journey. We have many interesting things in our roadmap such as Multi-chain, Co-branding and GMT use cases with many interesting projects. Watch out for space! ”

Other investors include Sequoia Capital, Alameda Research, Folius Ventures, Solana Ventures, 6th Man Ventures, Sfermion and many more.