{"id":59699,"date":"2022-04-06T14:43:13","date_gmt":"2022-04-06T11:43:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=59699"},"modified":"2025-09-04T23:17:33","modified_gmt":"2025-09-04T20:17:33","slug":"stepn-token-climbs-about-20-after-binance-labs-investment-announcement","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/stepn-token-climbs-about-20-after-binance-labs-investment-announcement\/","title":{"rendered":"STEPN token climbs about 20% after Binance Labs investment announcement"},"content":{"rendered":"<p>Binance&#8217;s venture arm announced strategic investments in the <span data-descr=\"move-to-earn\" class=\"old_tooltip\">Move-to-Earn<\/span> application STEPN from Find Satoshi Lab. The project&#8217;s governance token (<span data-descr=\"Green Metaverse Token\" class=\"old_tooltip\">GMT<\/span>) rose on the news.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">What a big day\u2026 \ud83d\ude0d Celebrating the new joiner of Binance Labs Family <a href=\"https:\/\/twitter.com\/Stepnofficial?ref_src=twsrc%5Etfw\">@Stepnofficial<\/a> \u2014 THE BEST of its kind web3 move-and-earn app. Let&#8217;s Step up N up!<a href=\"https:\/\/t.co\/evNkFxrQgx\">https:\/\/t.co\/evNkFxrQgx<\/a><\/p>\n<p>\u2014 Binance Labs Fund (@BinanceLabs) <a href=\"https:\/\/twitter.com\/BinanceLabs\/status\/1511661444512681984?ref_src=twsrc%5Etfw\">April 6, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Binance Labs did not disclose the financial details of the deal.<\/p>\n<p>STEPN incentivises users to lead healthier lifestyles by allowing them to earn a game token (<span data-descr=\"Green Satoshi Token\" class=\"old_tooltip\">GST<\/span>) by walking or running outdoors.<\/p>\n<p>To participate, users must download the app and buy NFT sneakers aligned with their fitness level.<\/p>\n<p>STEPN has a built-in wallet and marketplace, as well as gamification features such as upgrading and releasing sneakers, social interaction capabilities, and more. The app is currently in beta.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs the Move-to-Earn concept is trending in Web 3.0, STEPN is helping to grow its user base. We believe gamifying physical activity could attract more people to the industry, accelerating the mass adoption of blockchain technology and cryptocurrencies,\u201d said Binance Labs head Bill Qian.<\/p>\n<\/blockquote>\n<p>According to the release, the financing round included Sequoia Capital, Alameda Research, Folius Ventures, Solana Ventures, 6th Man Ventures, Sfermion and other investors.<\/p>\n<p>The STEPN team will use the raised funds to develop the app and its community.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAlthough we have grown a hundredfold over the past months, this is just the beginning. We have many exciting items on our roadmap, including cross-network integration, brand partnerships and new use cases for GMT,\u201d said STEPN co-founder Yan Rong.<\/p>\n<\/blockquote>\n<p>In response to the announcement, GMT rose to around $2.7 \u2014 more than 20% (Binance). At the time of writing, the asset was trading near $2.64.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/uINF1yDOIUb1gAQLL_Y8ZyYY__nCVmvARyd_8iGM976SXF6N09oVBULRx2DDabTWQKJSU_Fc5K1vS2TxGvRv4PiEAgQLtawJaRk0eyP7nB96VO5tUrBYvjC_YQuXMcZdXFiSeGPO\" alt=\"STEPN project token climbs 20% after Binance Labs investment announcement\"\/><figcaption>GMT\/USDT hourly chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/GMTUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>In March, Binance Labs <a href=\"https:\/\/u1f987.com\/en\/news\/binance-labs-invests-an-additional-5-million-in-ultiverse-developers\">invested additional $5 million<\/a> in the Ultiverse metaverse developers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance&#8217;s venture arm announced strategic investments in Move-to-Earn application STEPN from Find Satoshi Lab. The project&#8217;s governance token GMT rose on the news.<\/p>\n","protected":false},"author":1,"featured_media":59700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1475,1133],"class_list":["post-59699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-stepn","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"36","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=59699"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59699\/revisions"}],"predecessor-version":[{"id":59701,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59699\/revisions\/59701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/59700"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=59699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=59699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=59699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}