Stepn (GMT/USD) is a move-to-earn application that utilizes GameFi and SocialFi elements as a means of encouraging users to earn points based on the distance that they run.
All of this is tracked through the utilization of a GPS, where for their efforts, they receive rewards in crypto tokens.
The rewards are credited to a user’s wallet in the form of a Green Satoshi Token (GST/USD), where different sneakers return GST at different rates.
The GNT cryptocurrency is the Solana (SOL/USD) based token that governs Stepn and can be used for the payment of digital items and upgrades, alongside having staking and voting utility on the future changes to the platform.
The Atlético de Madrid and WhaleFin collaboration as a catalyst for growth
On August 18, 2022, the web3 lifestyle application Stepn announced that they would release a non-fungible token (NFT) sneaker collection in collaboration with Atlético de Madrid and WhaleFin.
This will enhance the utility for both Stepn users as well as soccer fans, as these will be NFT sneakers compatible with the app’s run-to-earn game.
The ownership of these NFTs will also provide exclusive access to physical Atlético de Madrid merchandise, in-person matches, and WhaleFin airdrops.
This will ultimately boost interest in the Stepn app and the GMT cryptocurrency.
Should you buy Stepn (GMT)?
On August 19, 2022, Stepn (GMT) had a value of $0.8182.
To get a better perspective as to what this value point represents for the future of GMT, we will go over its all-time high, as well as its performance throughout July.
Stepn (GMT) had its all-time high on April 28, 2022, at a value of $4.11.
When we go over the performance of the token throughout the previous month, Stepn (GMT) had its lowest point of value on July 2 at $0.7736.
Its highest point of value, however, was on July 19 at $1.1331. Here we can see an increase in value of $0.3595 or 46%.
As a result of this partnership, investors might consider buying the GMT cryptocurrency, as we can expect it to reach a value of $1.2 by the end of August 2022.
The post Should you buy Stepn after Atlético de Madrid and WhaleFin collaboration? appeared first on Invezz.
from Cryptocurrency – Invezz