2023-04-17 10:50:45
The Future of Fitness in the Metaverse: Introducing Green Metaverse Token (GMT) and STEPN
The convergence of blockchain technology, fitness, and the metaverse is gaining momentum, and STEPN is at the forefront of this revolution. As a move-to-earn health and fitness application, STEPN integrates sneaker NFTs, allowing users to earn tokens and rewards simply by staying active. In this article, we'll explore the Green Metaverse Token (GMT), the native governance token of STEPN, and the exciting features the platform has to offer. Let's dive in!
STEPN operates on a dual-token system, consisting of the game token, Green Satoshi Token (GST), and the governance token, Green Metaverse Token (GMT). GMT plays a crucial role in the STEPN ecosystem and has multiple use cases:
Governance: By staking GMT, users can participate in governance decisions, with increased voting power for longer locking periods.
Staking rewards: GMT stakers can vote on the distribution of staking rewards.
Accrual of protocol revenue: GMT is burned to access in-app features like sneaker upgrades and minting of new sneakers.
STEPN offers a plethora of features, making it an engaging and user-friendly platform:
Mobile application: Available on both iOS App Store and Google Play store (restricted to certain countries).
Sneaker NFTs: Sneakers come in various types, qualities, attributes, and gem sockets. Users can burn tokens to level up and customize their sneakers.
Move and Earn: Equipped with sneaker NFTs, users can move outdoors to earn tokens, with multi-layer anti-cheating mechanics in place to prevent exploitation.
Rental system: Users can rent sneakers for free, move and earn, then split the earnings with the sneaker owner.
In-app NFT marketplace: A dedicated marketplace for users to trade their NFTs.
In-app swap: Users can swap their token earnings for other cryptocurrencies.
In-app decentralized wallet: A wallet to deposit and send cryptocurrencies, funding user spending accounts.
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