Green Metaverse Token (GMT), the native cryptocurrency of the STEPN Move-to-Earn platform, is up more than 40% this week, with 24-hour trading volume exceeding $672 million.
This is according to data available from CoinGecko, which shows that GMT has shown significant momentum above several resistance levels. The token is currently trading at around $0.43, with a 24-hour trading volume of $672,452,095.
The recent rise in the GMT price can be attributed to the launch of the STEPN app, which encourages users to adopt an active lifestyle while earning cryptocurrency rewards.
Users can purchase NFT sneakers and use them to earn in-game tokens while jogging, walking, or running. As you go, you accumulate in-game tokens (mainly GST and GMT).
GMT tokens serve as governance tokens and offer additional earning potential. Users can use GMT to rename their sneakers or level them up to a higher level. You can also access premium game content, high-level activities and earnings using GMT.
GameFi’s ‘Move-to-Earn’ Pioneer
Green Metaverse Token (GMT) is the native asset of a blockchain-based fitness application called STEPN. The app encourages users to adopt an active lifestyle while earning cryptocurrency rewards.
In the GameFi segment, STEPN differentiates itself amidst increasing competition by offering enhanced features.
In addition to the traditional play-to-earn functionality, STEPN introduces a unique “move-to-earn” category, allowing users to earn tokens by engaging in fitness activities.
Positioned as a Web3 lifestyle app, STEPN seamlessly integrates gaming and fitness elements to promote a healthy lifestyle.
Key components of the platform can be adjusted to suit individual preferences, effectively integrating gaming and fitness. STEPN aims to maximize user engagement while minimizing carbon emissions by integrating both financial and social rewards. The gamification of fitness is STEPN’s main competitive advantage over other cryptocurrency projects in this space.
The supply of GMT tokens is limited to 6 billion, with a circulating supply of 1.4 billion tokens.