STEPN fitness app announces airdrop

The "Move-to-Earn" project STEPN is back with a crypto airdrop. According to the CEO, the goal is to give something back to users.

The airdrop is worth US$30 million. According to STEPN CEO Shiti Manghani, the company wants to give something back to its users: "This year's airdrop is the largest ever. It will be awarded to badge holders and Genesis holders."

Users have until April 29 to redeem their free tokens, STEPN reveals in an X-post. STEPN has already distributed millions of tokens - the equivalent of between US$1,800 and US$14,400 - to NFT holders by 2022.

STEPN uses the "move-to-earn" concept of earning cryptocurrencies by completing steps. As of May 2022, the application was still registering up to 800,000 users per day, according to the developers. At the time of writing, the platform's own token (GMT) is trading at $0.29. The cryptocurrency is about 92 percent away from its all-time high in 2022.

With declining user numbers in the wake of the bear market, the project seemed to be increasingly forgotten. STEPN was also often criticized for its questionable revenue model.