Binance Labs invests in STEPN by FindSatoshi Lab

STEPN is a Web3 “move-and-earn” app, where users can earn tokens by accumulating steps.

STEPN has unique Game-Fi and Social-Fi features that have grown 100 times in just a few months.

This funding will be used for app development and community growth for the STEPN project.

Binance Labs, a venture capital and innovation incubation platform under Binance, announced a strategic investment in STEPN, a web3 lifestyle app project.

On STEPN App, users with NFT sneakers can earn tokens by accumulating steps outdoors.

STEPN’s unique Game-Fi and Social-Fi features are the magic weapon to keep users engaged and motivate them to get outdoors.

STEPN has built-in wallets, trading functions and markets, as well as more in-app functions. Even novice users can easily get started.

This investment will be used for STEPN project App development and community growth.

STEPN’s mission is to encourage millions of users to live healthier lives, help users navigate the Web3 world, and make a positive contribution to carbon neutrality.

Users can first download the App, buy NFT sneakers according to their own fitness level, and then earn game tokens through outdoor walking, jogging, fast running and other sports.

These tokens can be used for in-app game consumption and can also be withdrawn.

There are rich game functions in the app, including sneaker upgrade, sneaker NFT minting, blind box, NFT customization, social networking, etc.

Users need to optimize the use of in-app resources in different modes to achieve the best results.

STEPN adopts a dual-token system: the game token Green Satoshi Token (GST) and the governance token Green Metaverse Token (GMT).

Users can use the in-app functions by consuming GMT, and participate in governance by holding GMT, such as deciding what proportion of the STEPN fund management profit pool should be used to purchase on-chain carbon credits, etc., to maintain on-chain transparency and immutability.

Other institutions that have invested in the project include: Sequoia Capital, Alameda Research, Folius Ventures, Solana Ventures, 6th Man Ventures, Sfermion, etc.

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