STEPN Soars Another 26% on ASICS Sneaker Drop

Key Takeaways

STEPN’s GMT token is on the rise again as the game has passed 300,000 users.
The bullish impulse is likely fueled by STEPN’s new partnership with ASICS to release branded NFTs.
STEPN is a “Web3 lifestyle app” that lets users earn tokens by walking, jogging, or running outdoors.

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STEPN’s GMT token has shot up another 26% as the game launches its ASICS collaboration sneakers through the Binance NFT marketplace. 

Move-To-Earn Mania Continues

STEPN’s GMT token is soaring again.

Interest in the pioneering move-to-earn hit has continued to grow in recent weeks, with the game reaching 300,000 daily active users per a post on the official STEPN Twitter. STEPN’s flagship Green Metaverse Token, required to upgrade the in-game sneaker NFTs, has also enjoyed substantial gains, climbing 384% over the past month. 

However, the GMT token’s recent bullish impulse appears to be fueled by the launch of the STEPN x ASICS sneaker NFTs. Over the past 24 hours, GMT has gained another 26%, briefly pushing its market cap to more than $2 billion. 

GMT/USD chart. Source: CoinGecko

Those who have subscribed to the STEPN x ASICS NFT sneaker sale on the Binance NFT marketplace are being selected to purchase the first STEPN sneakers for use on the BNB Chain version of the game. The mystery shoeboxes will contain ASICS style common and uncommon Walker, Jogger, Runner, and Trainer sneakers to be used in-game. 2010 shoeboxes are currently up for grabs, with each one costing 0.5 BNB, or approximately $208. The cheapest examples of the new ASICS sneakers now sell on the secondary market for a minimum of $1,889. 

STEPN touts itself as a “Web3 lifestyle app,” and lets users earn tokens by walking, jogging, or running outdoors. The game initially launched on Solana and will expand to several other networks, with BNB Chain the most recent to launch. To play the game and start earning, users must purchase a pair of sneaker NFTs from the in-game marketplace. The current floor price for the NFTs sits at around 11.5 SOL, or $1,218. 

Disclosure: at the time of writing this piece, the author owned SOL and several other cryptocurrencies. 

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