STEPN is by far the leader in the Move To Earn category and made significant progress in 2022 on their roadmap. Here’s a recap of all the STEPN highlights from the past year.
On January 20th, 2022 STEPN announced their first-ever funding round. The $5 million seed round with Sequoia Capital, Folius Ventures, Solana Capital, 6th Man Ventures, DeFi Alliance, M13, Corner Ventures, Sfermion, Zee Prime Capital, and other Web3 investors, was the start of the Move and Earn revolution.
After the seed round, the grassroots growth began to pick up momentum in early February. STEPN was approved to launch on iOS in less than 24 hours and, shortly after, rocketed to the top of the app stores. It reached top five in overall apps in Japan and the top 3 in health and fitness apps in the US! Soon after, their Daily Active Users (DAU) and social media following began to grow at exponential rates, spiking 1000% to 21,000 DAU and 66,000 Monthly Active Users (MAU), as well as reaching 50,000 Twitter followers.
In March, STEPN launched their IEO on Binance to a tremendous response. The company also did a Giveaway Event, distributing 45 million GMT tokens to their Trailblazers. STEPN really started hitting their stride in March, crossing 100,000 Twitter followers and reaching the 1 million KM total distance run mark.
April was a big month. Within less than a month of their IEO on Binance, STEPN closed out the month in style — by becoming a unicorn! In addition, they crossed a whopping 1 million in total downloads while their daily NFT trading volume exceeded $10 million.
ASICS NFT Sneakers Launch
STEPN also crossed the 300,000 Twitter followers mark in April and reached over 1.7 million monthly active users. They launched a new partnership with ASICS on a unique collection of NFT sneakers. There were over 180,000 participants and over 90,000+ BNB staked.
In May, the crypto bear market reared its head. Despite the rockiness of the times, STEPN continued to build and grow, reaching 600,000 Twitter followers, 3+ million monthly users and 800,000 daily users. They also doubled down on their mission, by partnering with Nori to combat climate change and achieved carbon-neutrality by buying 5,797.1 Carbon Removal Tonnes (NRTs).
DOOAR DEX Launch on Solana
At the same time though, they never stopped building. In line with STEPN’s mission of continually creating value for their community members, they launched DOOAR, their very own decentralized exchange (DEX).
Less than a month after launching, DOOAR secured over 77,000 daily active users and surpassed Solana-based DEX Orca to become the largest DEX on Solana.
APE Realm for BAYC holders
During July, STEPN unveiled their third APE Realm that included free mints for BAYC holders. It saw over 1000 claims within 24 hours of the minting launch. They also held the first ever #STEPNrun contest and announced a Q2 profit of $122.5 million.
In August, STEPN announced GMT Earning Plans to offer users new types of gameplay, along with a new type of sneaker — Rainbow Sneakers. They also conducted community giveaways to reward active users and even partnered with Atlético Madrid to launch their very first co-branded sneakers with real world perks. WhaleFin was also a partner in this Atlético de Madrid Genesis NFT collection.
In September, STEPN turned one! They launched a brand new campaign to celebrate STEPNEMBER and define this era, called “It’s a Movement.” It provided a host of challenges and the chance for users to take part in a prize pool of 100,000 GMT. STEPN notched some incredible milestones from their engaged community: 104 billion miles ran together, 6.90 million KG of C02 offset and 6 billion kCAL burned.
The following month, they kept on running. The company partnered with The Giving Block, a notable philanthropic platform, on a campaign called Caring with Crypto. The campaign empowered STEPN’s users to donate their GMT to thousands of nonprofits on the Giving Block’s platform. STEPN also launched their GMT earning mode, the #STEPNLevel30 Sneaker Challenge and a Breaking Boundaries series.
MOOAR NFT Launchpad
Pioneering a new era of Web3 fitness, STEPN teamed up with ASICS and Solana Pay in November on a new limited collection of physical sneakers to incredible success. Responding to community suggestions, they created an in-app event to celebrate the football tournament of the year with the STEPN Sneaker Enhancement Special.
They also unveiled MOOAR, a dedicated NFT marketplace and launchpad — a monument product pillar on their roadmap to becoming a Web3 super app built around $GMT.
To close out 2022, STEPN launched a highly anticipated holiday event with double GST earnings, Special Christmas Socks and New Years Sneakers. Users were rewarded with gifts such as airdrops and STEPN merch for acquiring these sneakers.
December was a special month for $GMT, the ecosystem token. They created new utilities for the token by switching the STEPN marketplace currency to GMT. In addition, they also hosted MOOAR Launchpad Season 1 where community members voted on their favorite PFP projects with $GMT for a chance to raffle NFTs. STEPN had a massive 5.3+ Million $GMT locked into tickets supporting MOOAR’s mission to empower creators. A big congratulations to MOOAR S1 Winner, HypeSaints! S2 coming soon…
STEPN’s plans for 2023
In 2022, STEPN truly pushed the Move To Earn movement mainstream and along the way experienced a lot of incredible moments, but also several setbacks to learn from that they will take into 2023 to continue building STEPN and the entire FSL ecosystem. Despite the turbulence of the crypto bear market, the STEPN team are builders at heart and the future looks bright for the Move To Earn movement.
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