According to the release, GMT generated a profit of around $122.5 million from commissions alone. The company mentioned that it will use 5% of this profit to carry out a GMT buyback.
Repurchase is a common practice among companies to counter depreciation in market value.
Over the past 30 days, the price of GMT has jumped more than 22%. At the time of publication of the article, the token is trading at $0.862. However, the price is still 80% below the all-time high.
The team also mentioned an increase in DDoS attacks targeting GMT. The developers are already working on this issue, improving the capacity of the servers.
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The AI’s ability to recognize movement and avoid cases such as bots will be improved. Meanwhile, the company also added that STEPN would expand its team in line with the feedback they received after the launch.
The team stressed that they would look for opportunities for partnerships and sponsorships. The main emphasis will be on cooperation with leading brands from the sports industry. In addition, real merch from STEPN is expected. This will be done for marketing purposes to increase overall brand awareness.