Binance Venture Capital has announced it has made a strategic investment in Find Satoshi Lab’s STEPN Move-to-Earn app and the Project Governance Token (GMT) has reacted with sharp growth.
However, Binance Labs has not disclosed any details on the agreement.
The project native token STEPN encourages users to lead a healthy lifestyle by providing the opportunity to earn in-game tokens (GST) while walking or running outdoors. For this purpose, users must download the app and buy NFT sneakers in accordance with their level of physical fitness.
The app, which is is currently in beta version, has a built-in wallet and marketplace, as well as gamification features such as sneaker upgrades and releases, social interaction features and more.
Bill Qian, CEO of Binance Labs, has said on the deal:
“Because the Move-to-Earn concept is in the Web 3.0 trend, STEPN is driving user growth. We believe physical activity gamification can bring more people into the industry, accelerating the mass adoption of blockchain technology and cryptocurrencies.”