StepN has announced a new airdrop for the StepN community members. StepN said that the airdrop is being used as a community project. “We’re delighted to announce the #STEPN New Horizon Initiative, giving back to the community”.
The GameFi project noted that 4,000 $GMT, 8,000 $GMT, 16,000 $GMT, and 32,000 $GMT will be airdroppes to owners of Common sneakers, Uncommon sneakers, Rare sneakers, and Epic sneakers respectively.
Furthermore, StepN explained that only holders of any of the above mentioned categories of sneakers are eligible. These holders must have had the sneakers before 12th February, 2023, 0.00 UTC the day the wallet snapshot was taken. In addition, the sneakers should be in the spending account of the holder, and not listed in the marketplace as a tradable asset.
The number of sneakers a holder has will be equal to the number of airdrops the holder will receive – a holder with five sneakers will get five airdrops. The date for the airdrop is yet to be announced as holders are obliged to follow the StepN Twitter account for more details.
StepN before the bear market
StepN was founded in 2021 by Yawn Rong and Jerry Huang as a GameFi project for users to keep fit while earning by using the in app sneaker NFT. After a successful $5 million seed round and IDO in March 2022, the mainnet was launched on the Solana blockchain, and was integrated with BNB Chain in the same year.
Some of the key investors in the project include 6th Man Ventures, DeFi Alliance, Sequoia Capital, Folius Ventures, Solana Capital, Alameda Research, and more. Santiago R Santos and Asia Partner of Republic Zhen Cao are among the angel investors in StepN.
By the end of Q1 of 2022, StepN had 1 million downloads, with NFT trading of over $10 million. It also went into partnership with ASICS that attracted 90,000 plus BNB staked and a total Q1 profit of $26 million. At the close of September of the same year, users of the StepN app had covered a distance of 104 billion miles.
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