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StepnN Price Prediction 2023: What is GMT?

Last Updated November 24, 2023 1:04 PM
Giuseppe Ciccomascolo
Last Updated November 24, 2023 1:04 PM

Key Takeaways

  • StepN is a Web3 lifestyle app that integrates GameFi and Social-Fi elements. 
  • As you walk, jog, or run, you’ll accumulate in-game tokens, primarily GST and GMT.
  • One price prediction says GMT may reach $0.61 at the end of this year.

StepN is a Web3 lifestyle app that integrates GameFi and Social-Fi elements, built on the  Solana blockchain. It’s a Move2Earn NFT game that doubles as a fitness app, where players equip themselves with NFT sneakers and earn tokens by walking, jogging, and running. StepN’s mission is to revolutionize the fitness app landscape and inspire people to embrace a healthier lifestyle.

The brainchild of Australian entrepreneur Yawn Rong and game developer Jerry Huang, StepN emerged from the depths of August 2021. Its potential captured the attention of prominent venture capital firms like Solana Capital, DeFi Alliance, and Folius Ventures, who collectively injected $5 million into the project during its seed round.

StepN Price Prediction

Let’s examine some of the StepN price predictions being made on November 24, 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2023 2025 2030
Prediction #1 $0.61 $1.00 $2.90
Prediction #2 $0.2387 $0.7128 $0
Prediction #3 $0.3155 $0.7324 $4.44

StepN Price Prediction for 2023

DigitalCoinPrice  said that StepN would be worth $0.61 this year. CaptainAltCoin  had GMT fall to $0.2387 next month. PricePrediction.net  said that the crypto would trade at $0.3155 in 2023. 

StepN Price Prediction for 2025

Moving on, DigitalCoinPrice’s StepN price forecast said it would trade at $1.00 in 2025. CaptainAltCoin said GMT would get to $0.7128 that year. PricePrediction.net thought it would reach $0.7324 in two years.

StepN Price Prediction for 2030

Looking at a more long-term StepN price prediction, DigitalCoinPrice said it would reach $2.90 in 2030. CaptainAltCoin had it hit $0 that year. PricePrediction.net’s GMT price prediction said it would be worth $4.44 at the start of the next decade. 

StepN Price History

StepN has experienced a 2% price decrease in the past 24 hours, with the current GMT to USD conversion rate standing at €0.2778 per GMT. With a circulating supply of 1.4 billion GMT, StepN is valued at a market cap of $398,543,110.

StepN 2023 performance so far
StepN 2023 performance so far

Reflecting on the past year, StpeN has seen a 27% decrease in price. The highest recorded price for GMT during this period was €4.11, while the lowest reached €0.1008.

Google Bard AI Price Prediction for StepN (as of November 24)

Thanks to Artificial Intelligence (AI) models’ capacity to quickly process large amounts of data and compile information from multiple sources, chatbots like ChatGPT and Google Bard can be used to forecast cryptocurrency prices.

When prompted, the latter delivered a StepN price prediction forecasting the token’s short, medium, and long-term prospects.

Short-Term Price Prediction (2023-2024)

Average Price: $0.30

Reasons:

  • Growing Interest in Move-to-Earn (M2E) Games: StepN is a pioneer in the M2E space. Its success has attracted significant attention from both gamers and cryptocurrency enthusiasts.
  • Unique Play-to-Earn Model: StepN’s dual-token system, with its focus on both utility and governance, provides a sustainable economic model for the game.
  • Expanding Metaverse Integration: StepN’s integration with the metaverse presents opportunities for further growth and user engagement.

Medium-Term Price Prediction (2024-2025)

Average Price: $0.42

Reasons:

  • Continued Growth of the Move-to-Earn (M2E) Industry: The M2E industry is still in its early stages, and there is significant potential for further growth and adoption.
  • StepN’s Strong Brand Recognition: StepN has become one of the most recognizable brands in the M2E space, and its popularity is likely to continue.
  • Expanding Metaverse Integration: StepN’s integration with the metaverse is expected to provide new opportunities for user engagement and revenue generation.

Long Term Price Prediction (2025-2030)

Average Price: $1.14

Reasons:

  • Widespread Adoption of Move-to-Earn (M2E) Games: M2E games could become a mainstream form of entertainment and exercise, leading to increased demand for StepN’s tokens.
  • Integration with Advanced Technologies: StepN could integrate with advanced technologies, such as virtual reality and artificial intelligence, to enhance its user experience and attract new users.
  • Strong Governance and Community Engagement: StepN could develop a strong governance system and actively engage with its community to foster long-term growth and stability.

From the Whitepaper

StepN is revolutionizing the web 3.0 landscape with its impressive functionality, user-friendly interface, and unique proposition -earning rewards simply for walking. Walk, jog, run, or train, and watch the rewards roll in. Described in detail in the StepN whitepaper, this innovative token aims to promote healthier lifestyles, combat climate change, and offer users a continuous stream of engaging content.

This app is a trailblazer, catapulting the ‘move-to-earn’ concept into the forefront of cutting-edge applications.

Advantages and Disadvantages of StepN

Blockchain analytics company Messari  released its quarterly report on StepN. In it, they found that the crypto market was dominated by sharks – holders who have a significant, but not massive, amount of the token – and outlined some key advantages and disadvantages to the token.

Advantages of StepN

Messari said of StepN

  • Innovative approach to combining fitness and blockchain technology: StepN has successfully gamified fitness, motivating individuals to adopt an active lifestyle while earning crypto rewards.
  • Dual-token model: The dual-token model, with GST as a utility token and GMT as a governance token, provides a clear distinction between earning and governance, ensuring a balanced ecosystem.
  • Robust Solana blockchain: StepN leverages the Solana blockchain, known for its speed, scalability, and low transaction fees.
  • Growing community: StepN has attracted a significant and active user base, fostering a sense of community and engagement.
  • Expanding ecosystem: StepN is constantly evolving, introducing new features and integrations to enhance the user experience and expand its earning opportunities.

Disadvantages of StepN

Messari also said of StepN

  • Sustainability of the M2E model: The long-term sustainability of the Move2Earn model remains a concern, as the earning potential has a strict link to user activity levels.
  • Price volatility of GMT: GMT’s price has experienced significant volatility, which can affect user sentiment and participation.
  • Complexity of tokenomics: The tokenomics of StepN are complex, and new users may find it challenging to fully grasp the mechanics.
  • Regulatory concerns: The M2E space is still relatively new, and regulatory frameworks are not yet fully established, which could pose challenges in the future.
  • Dependence on user activity: StepN’s success is heavily dependent on maintaining a large and active user base.

StepN (GMT) Explained

GMT, the governance token, holds more strategic importance in the StepN ecosystem. It serves the following purposes:

  • Governance: GMT holders have the right to participate in decision-making processes within the StepN ecosystem.
  • Inflation Control: Users utilize GMT to control the inflation of GST, ensuring a balanced economy in the long run.
  • Revenue Generation: GMT is used to generate revenue for the StepN ecosystem. It can be used for development, marketing, and community initiatives.

How StepN Works

StepN is a Move2Earn NFT game that blends fitness and blockchain technology, encouraging users to adopt an active lifestyle while earning crypto rewards. The core concept revolves around purchasing NFT sneakers and using them to earn in-game tokens while walking, jogging, or running.

As you walk, jog, or run, you’ll accumulate in-game tokens, primarily GST and GMT. Users can utilize GST tokens to repair and upgrade NFT sneakers. GMT tokens serve as governance tokens and offer additional earning potential.

FAQs

How many StepN are there?

With a circulating supply of 1.4 Billion GMT, StepN is valued at a market cap of $398,543,110.

Will StepN reach $1?

It might, but not soon. According to price predictions, it is expected to reach $1 in 2025.

What is StepN used for?

Built on Ethereum competitor Solana and created by app developer FindSatoshi Lab, Stepn is a smartphone app that lets users earn money by walking, jogging, or running for a narrowly delineated time period that refreshes every 24 hours.

Further Reading

Bitcoin Price Prediction 2023: What is Bitcoin (BTC)

Moonbeam Price Prediction 2023: What is Moonbeam (GLMR)?

Neutron Price Prediction 2023: What is Neutron (NTRN)?

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability, and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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