STEPN holds airdrop of GMT tokens for Genesis sneaker holders

The giveaway was part of the New Horizon initiative

20.02.2023 - 11:00

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What’s new? On February 20, the team of the STEPN blockchain launched the New Horizon initiative, in which it held the airdrop of governance tokens GMT among holders of Genesis NFT sneakers. Holders of “common,” “uncommon,” “rare,” and “epic” non-fungible tokens on the Solana, BNB Chain, and Ethereum platforms participated in the giveaway.

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What else is known about the giveaway? The airdrop distributed tokens based on the rarity of an NFT as follows:

“Common” — 4000 GMT;
“Uncommon” — 8000 GMT;
“Rare” — 16 000 GMT;
“Epic” — 32 000 GMT.

Snapshots for the New Horizon giveaway were taken on February 12 at 00:00 UTC.

To be eligible for the airdrop, the sneakers had to be held in the STEPN spending account and not listed for sale on marketplaces at the time of the snapshot. Since the ecosystem fund was used for the giveaway, all GMT were sent to the SOL spending account of SOL/BNB/ETH users.

What is known about the project? STEPN is a Move-to-Earn (M2E) NFT game, launched in August 2021. Users buy sneakers in the form of NFTs, after which they can earn from their physical activity. The project has two types of tokens: GST for in-game payments and governance tokens GMT. As of February 20, 10:20 UTC, GMT is trading at $0,4618, having gained 1,12% in 24 hours, and the price of GST on Solana has dropped to $0,02406512 (-3,4%).

Genesis sneakers are the rarest non-fungible tokens in the app and offer many benefits, including free access to membership in the NFT marketplace MOOAR and OG Sneaker airdrop. Genesis was STEPN’s first sneaker, and additional limited editions have been released over the past year to honor key partnerships. The total number is limited to 20 000.

In August 2022, STEPN and FC Atletico Madrid launched an NFT collection of 1001 pairs of sneakers for the app. In November, the game team conducted an NFT airdrop among buyers of real ASICS sneakers.

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