One crypto that has attracted investor interest lately is the STEP (GMT USD) network. The platform uses blockchain technology for a unique goal: to make users move their feet. Could Crypto Rewards Be the Next Frontier for Incentivizing Exercise? And if so, could STEPN be a leader in this area? The network is trying to establish itself as such. Recently, the GMT crypto has received a lot of support binance (BNB USD).
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STEPN is a young blockchain project that wants to start a new movement in space. The developers of the network, which launched last August, hope STEPN will serve as a launch pad for the move-to-earn economy. Move-to-Earn, starting with STEPN, seeks to empower users. One can join the platform and earn passive income by running through GPS tracking.
The network uses non-fungible tokens (NFTs) to distribute the rewards to players. You have to buy one of four different NFT sneakers – each NFT is linked to fitness level. For example, you can buy the “Runner” NFT if you’re a fast runner, or a “Walker” NFT if you prefer to take things slow. By owning an NFT and connecting to the network via GPS, users earn passive income for their workouts.
The idea is innovative and quite unique compared to other projects. Not to mention that the network has already garnered support from the fitness industry; Adidas manager Scott Dunlap is acting as an advisor to the STEPN network.
GMT Crypto sees rapid growth with Binance Listings, IGO
Since the launch of the GMT crypto in early March, it has already seen some solid gains. In the past few days, these gains have increased significantly. Much of this is due to the help the network is getting from Binance to expand its footprint.
Starting today, Binance users can find STEPN NFTs on the exchange platform’s NFT marketplace. The exchange hosts the first game offering from STEPN or IGO. IGO events are separate from Initial Coin Offerings (ICO) and focus solely on NFTs.
As a new way of public listing for the blockchain world, IGOs are the first chance for the public to participate in projects like STEPN, Metaverse and Play-to-Earn platforms by buying the required tokens. In the case of STEPN, users can purchase the sneaker NFTs required to generate passive income.
The news builds on some previous Binance news that greatly benefited the GMT crypto. In late March, the exchange announced that it had created GMT liquidity pools, giving users the ability to earn passive income from their assets through liquidity mining. The news preceded the biggest catalyst crypto has seen to date; Prices rose from 78 cents to $3.11, a nearly 300% gain.
At the time of publication Brenden Rearick held (neither directly nor indirectly) positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publicity guidelines.
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