As STEPN logs ailing stats, creators shift attention to a new NFT marketplace

In a market tormented by a extreme decline in profile image (PFP) NFTs and normal disinterest in risky belongings class, Find Satoshi Lab (FSL) made an vital announcement. The firm behind STEPN, announced the launch of “MOOAR”, on 1 November.

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Here’s AMBCrypto’s value prediction for STEPM [GMT] for 2023-2024

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The launch of the multi-chain NFT marketplace adopted the launch of DOOAR, STEPN’s multi-chain Decentralized Exchange (DEX), in June. According to information from Dune Analytics, DOOAR had a 33% share of all of the each day lively wallets throughout all different DEXes housed throughout the Solana community.

In addition to the NFT marketplace, MOOAR includes an NFT launchpad. Herein initiatives from different creators will be debuted as voted by holders on STEPN’s GMT token, providing extra utility to the altcoin. 

As opposed to the observe on different NFT marketplaces, the place creators get their charges by making agreed-upon deductions on every sale accomplished, MOOAR meant to cost its customers a flat subscription charge of $29.90 month-to-month. 

The glory days are behind STEPN

The launch of MOOAR fashioned a part of the concerted effort of the homeowners of STEPN to shift attention from the already failing play-to-earn gaming platform. Data from Dune Analytics revealed that the move-to-earn platform witnessed its month-to-month lively customers decline by 88% since May.

Furthermore, STEPN closed October with a month-to-month lively person depend of 83,702. After peaking in May, the month-to-month lively customers depend on the platform declined persistently. 

The STEPN ecosystem is powered by its NFT sneakers that customers should purchase on its marketplace to transfer outdoor in order to earn tokens and NFT rewards. Unfortunately, with the continued decline within the move-to-earn platform, the variety of newly minted footwear additionally declined.

Between the top of September and the top of October, the depend of new STEPN sneakers minted each day dropped by 85%. 

Source: Dune Analytics

GMT and GST-SOL

Left out of the value correction within the normal cryptocurrency market up to now few weeks, GMT & GST-SOL recorded declines of their costs in October. Trading at $0.512 on the time of writing, the value per GMT token dropped by 16% within the final 30 days. Within the identical interval, GST-SOL registered a 3% decline in its value.