STEPN (GMT) Reaches 500K Players per Day

STEPN is competing with new arrivals like Step App and the FITFI token recently listed on KuCoin.
  • Daily users get close to 500K, 2.3M active users per month on STEPN app.
  • GMT slides to $2.42 from highs above $4.
  • Move-to-earn games become the hottest segment in the past few months.

STEPN, one of the most prominent move-to-earn games in May 2022, is growing its fanbase by the day. The game’s app server is showing the results as the game pushes on with Public Beta stage IV, with daily users rising to a higher limit tier.

STEPN is also heavily promoted in giveaways and special sales, with instant utility for its NFT. The game also organizes live events to promote movement and boost its NFT appeal. Using the Solana network gives STEPN a higher NFT turnover potential due to low fees. More than 91K items are on sale on OpenSea, though with no settled floor price. 

The game is mostly active on mobile, and six months after the beta launch has 2.3M monthly users and around 500K daily active users. The game continues to show growth and was not affected by the recent Solana network freeze.

Will STEPN Players Earn Enough

The native asset of STEPN had a positive period where it rose to a peak above $4 at the end of April. GMT fell to $2.43 after an overall market correction, losing 27% in a week. 

With some users reporting withdrawal problems, GMT is having a hard time to keep up as an incentive token. Without GMT, the app is just another fitness tracker.

STEPN Has a Competitor

The STEPN app is not the only one in the move-to-earn space. Step App is its closest competitor, with the highly active FITFI token. Recently, FITFI got added to the KuCoin exchange. 

However, the fast FITFI appreciation may not be feasible, despite the hype around Step App. FITFI traded around $0.62 after a recent correction. In addition to GMT and FITFI, there are now more move-to-earn and fitness apps appearing almost daily, with various reward structures. Yet GMT for now remains the most liquid asset, as it was aggressive about gaining listings on exchanges.

GMT was also recently added to the Solend decentralized protocol. GMT is one of the reserve assets that can be locked for passive income. 

The other two assets are GST, the STEPN inflationary reward token, and USDC running on the Solana protocol.

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