StepN, a lifestyle app built on the Solana blockchain, has announced that it will be airdropping 100 million FSL points, equivalent to around $30 million, to its users. The FSL points can be exchanged at a 1:1 ratio for StepN’s GMT token and can also be used in upcoming StepN nonfungible token (NFT) mints, as well as for obtaining exclusive prizes. The airdrop campaign is being launched as a gesture of gratitude to StepN’s most loyal community members, according to Shiti Manghani, the CEO of StepN.
The first airdrop, which took place earlier this week, was dedicated to the app’s Badge Holders, who are considered to be the core players. The amount of FSL points allocated to each user was based on the complexity of their in-app achievements. To claim the points, users must sign up for an FSL ID, which is created by StepN’s developer. Once they have an FSL ID, users can also spend their FSL points in the app’s NFT marketplace, Mooar, and its strategy game, Gas Hero. The airdrop will continue until the end of April.
StepN, launched by FSL in 2021, enables users to earn rewards for walking, jogging, or running. After purchasing a virtual Sneaker NFT and linking their smartphones, users can receive rewards in the form of GMT tokens. These tokens have an inflationary mechanism, a supply cap of 6 billion, and a current diluted market capitalization of $1.57 billion. Players can use the GMT tokens to mint new sneakers or level up in the game. They can also lease or sell their NFT sneakers on the in-app marketplace, with their GMT revenues saved in the in-app wallet, which includes a built-in swap function. StepN currently boasts over 5 million users.
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