The NFT sneaker project earned $122.5 million for the quarter
The developers of the STEPN project told about the quarterly earnings and where they want to spend the amount received.
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. 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. This is a publication from site cryptodefix.com. 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.
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