STEPN Is Laying Off 100+ Employees Amid a Crypto Market Downside and Massive Drop in Player Numbers.
Fitness app STEPN, once known to revolutionize NFT, is reportedly laying off more than 100 employees, most of them moderators and ambassadors. Reduce investment in STEPN.
Data from DUNE Analytics reveals that STEPN’s daily player count has dropped dramatically, from over 105,257 players on July 26 to just over 6,000 during September. And now that’s up to 11,877 on October 5th.
The main reason STEPN’s player count declines is its ban from China and DDoS attacks or server attacks. Crypto researcher Lucia Kim also commented that STEPN’s system is problematic, allowing users to sell NFTs in the marketplace for rewards that provide more supply, and that’s enough. Too much, the coin price went down.
STEPEN
STEPN started fine after launch. The Green Metaverse Token (GMT) regulatory token hit a record high in April, hitting $4.11, while GST hit $8.51, according to data from CoinGecko.
The emergence of STEPN is one phenomenon. Every seminar must mention this app first when it comes to exercise. It is being restructured right now and if it can come back, there may be a more sustainable model as we have learned of this downtrend.
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