Solana Transfer-to-Earn App Stepn Launches NFT Collab With Atlético de Madrid



Stepn has teamed up with Spanish soccer workforce Atlético de Madrid and all-in-one crypto change Whalefin to launch a brand new assortment of 1,001 soccer boot NFTs in Stepn’s “move-to-earn” working app

Since its launch at first of the yr, Stepn has inspired crypto followers and “non-crypto natives” alike to lace up their trainers and hit the asphalt to earn rewards for motion within the type of Green Satoshi Tokens (GST). 

The Stepn app requires the acquisition of a sneaker NFT on Solana earlier than individuals can start incomes rewards. New customers ought to count on to pay no less than a couple of SOL to get began. 

Every of the 1,001 soccer boots in Atlético de Madrid’s new assortment falls into one among three completely different teams: frequent, unusual, or uncommon. The 850 frequent boots are themed across the membership’s nationwide and worldwide titles, the 140 unusual boots are impressed by the membership’s stadiums and the 11 uncommon boots are a reference to the beginning squad. 

All 1,001 boots are of the “Genesis” selection, which means that like earlier Genesis sneakers, they web their house owners unique rewards throughout the Stepn and app. In addition they entitle house owners to rewards inside Whalefin’s app. 

Each NFT proprietor is routinely entered right into a prize draw for a vacation and lodge lodging, along with tickets to a match at Atlético de Madrid’s residence stadium, Civitas Metropolitano. 

Holders of unusual boots obtain the membership’s official shirt, whereas holders of uncommon boots will obtain autographed shirts.

 

Stepn: A quick primer

When Summer season hit, Stepn had already attracted 3 million customers within the first six months of its launch. 

Whereas the value of the sport’s native GST token was using excessive, the barrier to entry was additionally excessive. A pair of sneakers might set customers again by as much as $600; although, they may have theoretically damaged even after a month of utilizing the app. 

Incomes GST tokens additionally lets customers mint their very own sneaker NFTs, which they will lease or promote on secondary markets. 

In July this yr, Stepn introduced plans to make use of 5% of its Q2 income ($6.125 million) to purchase again and burn a few of its circulating provide of GMT governance tokens, which on the time was near 600 million. At the moment, there’s a circulating provide of 263.6 million GMT tokens

Whereas obstacles to entry have lowered, so too has the worth of the financial incentives of utilizing the app.

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