Some recent entrants to the crypto scene are making bigger moves towards Web 3.0 and the metaverse. This immersive, decentralized arena opens up new opportunities to gamify and incentivize activities. STEPN and the Green Metaverse Token (GMT) are no exception. An app that tracks a user’s physical activity and provides rewards in the form of crypto and her NFTs.
STEPN will launch in the second half of 2021 and has seen promising adoption by users around the world in the first few months of 2022. As a result, the value of the native GMT token rose, making it an interesting prospect for cryptocurrency traders looking for the latest investment prospects. But what exactly is the STEPN app, how do you earn GMT, and can you sustain that investment potential for years to come?
Information on STEPN
STEPN explain yourself As a “Web3 Lifestyle App with Game-Fi and Social-Fi Elements”. In the summer of 2021, co-founders Jerry Huang and Yawn Rong created it as a “move-to-earn” app and won his 4th place out of 500+ projects. Solana Ignition Hackathon 2021.
After its initial success at a hackathon, STEPN launched in beta stage in December 2021. The idea of rewarding users for physical activity is certainly one of its main purposes. But the STEPN team believes the app will also connect the public to Web 3.0 and help fight climate change.
Built on the Solana blockchain, the incentives aspect sets it apart from many other apps in the fitness space. Gamifying exercises keeps users more active and rewards them.
One of our future additions marathon modeHere users compete against each other in weekly or monthly distance events. STEPN crypto tokens are awarded based on where users finish on the leaderboard. All users will also receive an NFT badge.
Additionally, users have the chance to offset their carbon footprint by donating their earnings. STEPN has already partnered with Nori Donate a portion of the profits to carbon offsets.
How does STEPN work?
To start using the app, users must first purchase NFT sneakers from the marketplace. But it’s not a simple choice. Users must purchase sneakers suitable for one of four activities. Otherwise, the user will stop earning her STEPN tokens if her speed falls outside the range of her chosen activity.if NFT sneakers Suitable for walking. For example, users do not earn money by jogging.
To purchase sneakers, users must transfer using the STEPN in-app wallet Solana.
STEPN does not work on fitness machines either. Rewards can only be earned when doing physical activity outside. Use GPS to do this. anti cheat function that too.
In addition, sneakers have a certain amount of “energy” depending on their level. His 1 unit of energy is equivalent to his 5 minutes earning STEPN tokens. First, this reward comes in the form of the game’s utility token, the Green Satoshi Token (GST). Once a user’s sneaker reaches level 30, they are eligible to earn a governance token, the Green Metaverse Token (GMT).
What is Green Metaverse Token?
So what is the Green Metaverse Token? Its main role is as a STEPN Governance Token. A STEPN user starts by earning her GST, an in-app currency. It can be used to repair and level up sneakers, upgrade gems, open mystery boxes, and more.
Once a user’s sneakers reach level 30, they can start earning Green Metaverse Tokens (GMT). In doing so, users can vote on decisions that will shape the future of her STEPN. GMT also allows the user to upgrade gems, reach levels faster, and increase the amount of his GST he earns per day.
How many GMT coins are there?
There is a difference between the two types of STEPN tokens when it comes to the amount available. When it comes to Green Satoshi tokens, there is an unlimited supply that can be earned daily by users going out. But that is not the case with Green Metaverse Tokens.
Currently, GMT’s maximum supply is capped at 6 billion coins, of which about 10% (600 million) is in circulation. Of this supply, 3 out of 10 GMT coins will be available through ‘move-to-earn’ rewards. The same amount will be allocated to the STEPN ecosystem and the Ministry of Finance.
A further 16.3% of GMT supply will be eligible for a private sale.
Also note that GMT earnings are prorated. As more people win GMT, the amount you can win will decrease.
The unique nature of STEPN and its GMT coin means that certain factors affect its value in a different way than other crypto assets.
Ultimately, it’s a governance token, so its value is rooted in your app’s success. This can be seen in the price to USD since the launch of the Green Metaverse token. CoinCodex.com.
However, monthly active users decreased in Q2 and Q3 2022. DappRadar.com Report It shows a 67% decline in the third quarter. As a result, the GMT-to-USD price is currently only a fraction of the April 2022 high, hovering around $0.50 as of October 2022.
The price and market cap of Green Metaverse tokens are also influenced by broader trends in the global crypto market.
How to buy and trade STEPN GMT coins
You can now buy Green Metaverse Tokens on select cryptocurrency exchanges such as Bybit, CoinTiger, Binance, and OKX. However, to do this, you must sign up with your chosen exchange and purchase Bitcoin (BTC) or Ethereum (ETH) using your debit or credit card.
You can then purchase Green Metaverse Tokens with Bitcoin or Ethereum. Exchanges may allow you to set your desired price using the limit option. Alternatively, you can exchange your BTC or ETH for GMT at the market rate, if the price is right for you.
Of course, another way you can trade GMT is by signing up for STEPN and reaching the required milestones to earn through the app.
There are some exciting new options for crypto traders to explore. Many of these are heavily based on Web 3.0 and the metaverse. As such, these investment options differ from “traditional” crypto assets.
But what does the STEPN crypto look like as a potential investment?
The first period after the launch of the Green Metaverse Token looked promising. But a reversal of fortunes in Q2 and Q3 2022 makes for a bearish outlook.
Of course, this doesn’t make GMT a worthwhile investment. If you’re a trader interested in and evaluating the app’s ambitions, it could align well with your investment strategy.
Green Metaverse Token Price Prediction
So what does the Green Metaverse Token price prediction tell us about its short- and long-term investment potential? The general sentiment is bearish. In fact, some analysts have put a big question mark on the price direction of the Green Metaverse token.
Based on data from October 28, 2022: CoinCodex.comsentiment was 87% bearish. We predict that the GMT price could fall to $0.14 within a month. However, there is hope for potential traders, as prices are estimated to be between $1.19 and $2.08 by 2024.
DigitalCoinPrice.com It points out that the price of STEPN fell by 30.52% month-on-month from September to October 2022. However, we predict a return to growth soon in November 2022. Based on that estimate, that price he could soon surpass $1 again in 2024.
for WalletInvestor.com, GMT will not be a good one-year investment for traders. In October 2022, we predicted that the GMT-to-USD price would likely fall below $0.05 over the next year. Its value is not expected to rise significantly over the next few years.
PricePrediction.net more confident. That said, GMT price growth projections over the next few years are modest, with him estimating it could take until 2028 or 2029 to break through the $1 barrier.
Is GMT the right investment for you?
By promoting a healthier and greener lifestyle, the launch of STEPN has generated a great deal of interest. As a result, in particular, he helped propel the green metaverse token price increase in the first half of 2022. It has also seen increased interest from cryptocurrency traders looking for their next real investment opportunity. But is it right for you?
The earning element is a big attraction. But the battle over STEPN is maintaining monthly active users. That’s where GMT’s strengths as an investment lie. Few analysts seem to think it’s worth the investment. That said, it could be something that aligns with what’s important to you.
Of course, the decision is yours. The entire crypto market is prone to volatility. This attribute could lead to a significant increase in the price of the Green Metaverse Tokens sooner than expected. Whether or not GMT is an investment for you, remember that FXCM lets you trade some of the most popular cryptocurrencies. And you can do it without any fees.
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