application of stepsa cryptocurrency protocol that rewards users for exercising, will launch its namesake app on December 1 during an event in Tokyo.

His conference is said to embody “Step’s goal of building a bridge between Web3/metaverse and ‘the real world’ using fitness and health as a common denominator.”

Notably, Jamaican sprinter Usain Bolt will be a keynote speaker and DJ at the event, which is sponsored by cryptocurrency exchange Bybit,

Their website implies that this is the first of many events. “This year’s Step App conference is centered around the launch of our flagship app and kickstarts a healthier and richer global community. This event is a celebration with and for our entire step community.”

What is the Step app?

Step App is another cryptocurrency platform that is gamifying the fitness industry. Described as fitness finance (FitFi), it rewards users with their native tokens for walking, jogging, and running.

The platform has big ambitions for its flagship app, which is set to launch later this week. The Step app aims to become the “dominant FitFi app right out of the box.”

To achieve this goal, he seeks to onboard a large number of retail clients and “build a massive network for fitness influencers.”

STEP’s success

The Stepp app has its work cut out for it when it comes to competition. The STEPN move-to-win platform paved the way for the industry earlier this year and has already seen initial success.

STEPN (GMT) has onboarded more than 4.72 million international users and raised $5 million from investors. The Web3 app has also collaborated with many high-profile partners, including sportswear brand Asics.

The Step Apps system follows a user process similar to that of STEPN, in which investors purchase upgradeable non-fungible token (NFT) slippers and earn cryptocurrency in the app.

GMT to USD

bearish movement tokens

Another similarity linking the two move-to-win platforms is their bearish native tokens and both experienced significant losses throughout this year.

At the time of writing, STEPN was down 90% from its all-time high of $4.11 on April 28.

It was a similar story for the steps app, which lost 94% from its all-time high of $0.73 on May 6, 2022. It also recently fell to its all-time low of $0.02 on November 21.

However, the cryptocurrency has been rallying this week in the lead up to its event in Tokyo. As of November 30, the Steps app was trading at $0.04 and is up 30% in the last seven days.

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