Solana Move-to-Earn app Stepn launches NFT collaboration with Atlético de Madrid

Stepn has teamed up with Spanish football team Atlético de Madrid and all-in-one crypto exchange Whalefin to release a new collection of 1001 football boots NFTs in Stepn’s “Move-to-earn” running app.

Since its release at the beginning of the year, Stepn has encouraged crypto fans and “non-crypto natives” to lace up the sneakers and hit the asphalt to earn movement rewards in the form of Green Satoshi Tokens (GST).

The Stepn app requires the purchase of a running shoe NFT on Solana before people can start earning rewards. New users should expect to pay the least a pair of SOL to get started.

Each of the 1,001 football boots in Atlético de Madrid’s new collection falls into one of three different groups: common, uncommon or rare. The 850 regular boots are themed around the club’s national and international titles, the 140 uncommon boots are inspired by the club’s stadiums and the 11 rare boots are a reference to the starting squad.

All of the 1001 boots are of the “Genesis” variety, meaning that, like previous Genesis sneakers, they grant owners exclusive rewards in Stepn and the app. They also entitle owners to rewards in Whalefin’s app.

Each NFT owner is automatically entered into the draw for a holiday and hotel accommodation, as well as tickets to a match at Atlético de Madrid’s home stadium, Civitas Metropolitano.

Holders of uncommon boots will receive the club’s official shirt, while holders of rare boots will receive signed shirts.

Stepn: A short primer

When Summer struck, Stepn had already gravitated 3 million users in the first six months after launch.

While the price of the game’s initial GST token was high, the barrier to entry was also high. A pair of sneakers can set users back up to $600; though, they could theoretically have broken even after a month of using the app.

Earning GST tokens also allows users to create their own sneaker NFTs, which they can rent or sell on secondary markets.

In July of this year, Stepn announced plans to use 5% of its second quarter profits ($6.125 million) to buy back and burn some of the circulating supply of GMT management tokens, which at the time was close to 600 million. Today there is a circulating supply of 263.6 million GMT tokens.

While barriers to entry have lowered, so has the value of the financial incentives of using the app.