The NFT sneaker project earned $122.5 million for the quarter
The STEPN Project announced $122.5 million in earnings in the second quarter of 2022. The developers plan to distribute the capital received in three areas.
STEPN is a Move-to-Earn mobile app that allows users to earn rewards for walking. This information is from company cryptodefix. It was launched on March 2 of this year. To work with the app, users also need to buy NFT sneakers to earn GMT by moving around in the real world.
The company will use the earnings to launch a “redemption and burn” token program, spending 5% on it. Some of the money will also be spent to secure the project and increase the bandwidth of the servers. Funds will also be spent to expand the project team.