STEPN to sack 100 staff as players step away from the move-to-earn app
The move-to-earn blockchain game has seen a significant drop in its user base and its rewards token has taken a decline due to the cryptocurrency market conditions. Solana (SOL) blockchain-based move-to-earn fitness app STEPN is reportedly laying off over 100 of its contract workers amid the ongoing crypto bear market and as its user numbers dwindle from previous highs.Moderators and ambassadors will be among the sacked staff, and investment in STEPN will be scaled back according to crypto reporter Colin Wu. There will also be a shift toward promoting STEPN's parent company Find Satoshi....
Related News
Since StepN launched in December 2021, the move-to-earn app has become a crowd-puller in GameFi or the play-to-earn blockchain space. According to Jerry Huang, StepN co-founder, around 2 to 3 million users worldwide are actively using the app. While it’s a small feat compared to the hundred-million players that other mega-hit web 2.0 games have, […]
Strong hype around the move-to-earn sector helps GMT price establish a new record high. The native tokens of move-to-earn lifestyle app STEPN swung higher on news that they would be available to trade on Coinbase, a U.S.-based crypto exchange.The price of STEPN's governance token Green Metaverse Token (GMT) rallied by nearly 20% to reach over $4 in the past 24 hours, hitting as high as $4.50, its best level to date.GMT/USD four-hour price chart. Source: TradingViewSimilarly, the other STEPN token, called the Green Satoshi Token (GST), which players earn after walking, jogging and running....
The success of STEPN shows that the move-to-earn model is growing in popularity, but will it be a fading trend or the future of fitness? Axie Infinity was a pioneer of the play-to-earn movement and the project inspired new Web3 applications that aspire to apply the earning model to their respective ecosystems. The latest project to join the move-to-earn movement is STEPN, a Solana-based Web3 application where owners of the NFT sneakers earn as they walk. STEPN has programmed a few factors that determine just how much a person can make with its sneakers and the Green Satoshi Token (GST) is....
The key differences between play-to-earn and move-to-earn explained. Are you ready to earn money while you play and move? P2E vs. M2E GamesThe key differences between P2E and M2E are the rewarding system and the revenue model. As you can tell, there are some differences between the P2E model and the M2E model. Both of them are so much more than virtual gaming, that’s for sure. P2E is expected to transform from a trend to a mature concept. The gaming industry is exciting, but it should not be forgotten that relaxation and community engagement should remain central. Real gamers care more....
The first-of-its-kind move-to-earn lifestyle app launched in 2021, STEPN, has faced massive Distributed Denial-Of-Service (DDoS) attacks. Find Satoshi Lab, creator of STEPN, has advised its users to pause for a bit: “We recommend you take some rest during the maintenance or otherwise the work-outs may not be recorded properly. Our engineers are working hard to […]