The move-to-earn app has initiated its biggest airdrop ever ahead of announcing a partnership with a leading sports and apparel brand.
Fitness app Stepn is airdropping bonus points worth a total of $30 million of GMT tokens, the company told The Block.
"Since we have the runway, we have the stability as a business we are able to give it back to the users," Stepn CEO Shiti Manghani told The Block. "This year's airdrop is the biggest ever ... it is given to badge holders which reward the smallest to the biggest users and its given to the Genesis holders who have held our NFTs for the longest periods."
In February of last year, Stepn orchestrated an airdrop that rewarded Genesis sneaker NFT holders with GMT tokens. At the time of the drop eligible holders stood to receive between $1,800 and $14,400 worth of tokens per NFT.Stepn said FSL points can also "improve chances of obtaining exclusive prizes," according to its statement. The company's airdrop occurs ahead of a "soon-to-be announced partnership with one of the world's best-known sports brands," it also said.
Created by Find Satoshi Lab, the Stepn app rewards users with cryptocurrency for walking or running. The app requires users to purchase a virtual sneaker NFT in order to earn rewards. Stepn generates revenue from platform fees.
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