In September, the most popular M2E game STEPN slightly opened the veil of secrecy and shared statistics. This became a kind of occasion to celebrate the year of the project, the celebration of which lasts the whole of September.
Users covered more than 108 million kilometers in the application, reaching a record level of 1 million users per day on June 2, 2022. In total, STEPN has 4.72 million registered users.
According to research by The Block, STEPN earned over $26.8 million and $122 million in the first and second quarters of 2022, respectively.
The main factors behind the sharp drop in GST include a decrease in the rate of burning the token. Users who have upgraded their sneakers to level 30 no longer need to burn GST when leveling up their sneakers. And there have been more and more such users lately because players are looking forward to the GMT farm, which will be available in the current conditions only for level 30 sneakers.
While creating the project, the creators of STEPN could observe other giants of the play-to-earn industry, such as Axie Infinity. Their in-game SLP token has also plummeted in value due to inflation.
As for STEPN, the number of users dropped in April when the price of the GMT governance token dropped by 80%. The result was a reduction in monthly player numbers from 700,000 to less than 100,000. That is, to maintain the interest of users, the stability of the price movements of GMT and GST plays a decisive role.
However, throughout the year, STEPN implemented token supply throttling, such as token buybacks and token burns, which reduced the amount of GMT in July, helping to make the gaming ecosystem more resilient.
Courses for today
GMT = $0.6352
GST (SOL) = $0.0292
GST (BNB) = $0.0342
GST (ETH) = $0.1619
