STEPN tokens skyrocket on Binance and 200,000 users compete for 1,000 virtual tennis NFTs

The hype surrounding STEPN – an app that rewards users running with cryptocurrencies – is on fire and the release of a new project written by NFTs, partnered with sports equipment brand ASICs, is proof of that.

The new listing has raised more than $ 3.3 million in trading since it was unveiled on the Binance exchange on Tuesday morning (19) by the Subscription Mechanism.

Total of 195,571 traders competition in the race for the chance to win one of 1,000 tickets that will give you the opportunity to purchase NFT through the new collection from Binance.

These NFTs represent virtual sneakers that allow users to earn rewards in the form of cryptocurrencies in the company’s energy app for the duration of the exercise.

These gifts are distributed in the form of game tokens, Green Satoshi Token (GST) and management token, Green Metaverse Token (GMT) – coins based on the Solana network, as well as NFTs – and The difference varies depending on the frequency of the NFTs and the performance of their hosts.

marathon to buy

In this exchange, traders who want to purchase from the collection must close a minimum of BNB – Binance’s cryptocurrency – into their funds between April 16th and 19th. At the end of the session, the exchange held a lottery to choose where users could purchase obscure boxes containing new NFTs released for a fixed price of 0.5 BNB (approximately R $). 980 at the time of this announcement).

Each box contains NFT of four different models (walker, jogger, runner and trainer) with each model designed from two levels of rare: multiple and rare.

Currently at Binance’s NFT market, the product in the collection is trading at a floor price (the lowest price on the market) of $ 4,900 – a price 23 times more than the market price pay for the first NFT purchase.

STEPN NFTs sold by Binance
STEPN NFTs Sold by Binance (Source: Binance)

To further boost trades, the exchange will distribute 3,000 GMT tokens to 30 traders with the highest volume of NFT trades in the collection.

With the success of the new collection, GMT has risen 30% in the last 24 hours and hit a new high of $ 3.79, according to CoinGecko.

Is STEPN secure?

in conversation with the Bitcoin PortalAlexandre Vasarhelyi, partner and chief marketing officer of BLP Crypto, acknowledges that STEPN’s agreement to use crypto to promote health is interesting, but skepticism makes him skeptical: who Who pays this bill?

“What we are seeing in many new crypto currencies is the huge rewards from users, so many are looking to get NFTs to get high rewards. But this is not good. as will be safe because someone always has to enter into income.I do not believe in a project that rewards early adopter and then quit, ”said Vasarhelyi.

He acknowledges that partnering with big names in the sports industry like ASICS could open the door for new companies to join STEPN and generate new revenue. However, the long-term stability of these business models is unbelievable.

The second term that affects the future project in the expert view is the value of understanding, which can distract the user from its innate purpose and not by thinking finance.

“Are you going to buy an NFT walk and win a prize? I think it’s a cool idea. But how much will you pay for it? $ 5K? I wonder who pays the entry fee?” Going into this game is more about making money than playing games. It’s not like something that should never stand out, “said the director. “Every job that costs a lot of money and has no income, by far,” he added.

According to Vasarhelyi, it is difficult to imagine the situation where the movement-getting model that grew with STEPN did not suffer the same that hit the play-to-get model that, Until recently, was the hype of the moment thanks to games like Axie Infinity.

“It’s hard to pin down what will happen with a future project, it can be done. But the bottom line is that if you want to get into making money, you’re thinking about personal risk. But if you are going to use it, you can wait a while “, the manager advised.

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