What is the Green metaverse token for?
Have you ever wondered what a Green Metaverse token is? Why have many crypto enthusiasts started to find out about this token which has a special value in Metaverse? And finally, why should the Green Metaverse token stand out in terms of popularity compared to others on the market?
First of all, in recent years, Metaverse has been attracting increasing public attention, a specific virtual world facilitated by virtual reality. Thus, everything that has to do with it is considered worthy of attention, even investment by various crypto maniacs.
But before we look at all the essences of Metaverse, let’s see what is Green Metaverse Token and its secret, shall we?
Green Metaverse Token – explained.
Green Metaverse Token, or GMT, represents the native digital currency of STEPN, which is a WEB3 lifestyle app. It’s also called a STEPN governance token, allowing all participants to buy merchandise and vote for projects. With the Green Metaverse token, players are also able to unlock STEPN features and upgrade to HQ gems.
The maximum supply of GMT is six billion units with only 10% coins. In other words, there are currently 670 million GMT coins in circulation. Approximately 30% of the total tokens are allocated to users, while the additional 30% are for the ecosystem fund used for giveaways and community development projects.
The token can be earned during the Token Generation Event, the famous “TGE,” where it can also be minted. It debuted on the Binance Exchange on March 09, 2022. According to statistics, the token is constantly increasing in trading volume. At the time of writing, the popular Green Metaverse Token was trading for $0.5734 per one and has rallied 74%.
Where can you exchange the GMT token?
The Green Metaverse token is available for trading on big exchanges such as BTCEX, Mandala Exchange, and numerous others. According to the famous Litepaper, almost 16.3% of tokens will be used for private sale, while only 7% will be used for public sale.
Developers will receive 14.2%, while the advisory team will get only 2.5% of this famous GMT token. According to the official STEPN project’s lite paper, GMT allots close to 30% of overall tokens to users. In comparison, 30% of the ecosystem fund is mainly utilized for giveaways and numerous community development activities.
Use Cases of Green Metaverse Token
There are several essential use cases of GMT, such as:
- Governance token: Green Metaverse Token stands for the native governance token of the STEPN network. All users who own GMT can participate in governance to increase their voting power. The locking period, though, should be much longer.
- Staking reward: The staking rewards distribution is solely based on the GMT stakers via vote.
- Tokenomics: Green Metaverse Token is mainly used in the app for sneaker upgrades and for minting new sneakers. It all leads to the burning of tokens and reducing the total supply.
STEPN network – get all the essential information
We’ve learned that the Green Metaverse token is the native governance token of the STEPN project. However, it’s essential to understand what STEPN actually represents. In short, the STEPN network refers to a move-to-earn application developed around people’s everyday activities.
It’s a combination of social-fi and game-fi elements. It’s geared towards a much healthier lifestyle, with the main focus on fighting against climate change. STEPN is known as the first move-to-earn technology that allows users to earn by jogging, to walk, and even running outdoors.
The network is powered by Solana blockchain technology and focuses on overall health and fitness. To move around STEPN and earn tokens and rewards as well, the application requires users to have NFT sneakers.
What can you do with NFT sneakers?
As mentioned above, GMT refers to a native token of the STEPN, a popular Web3 lifestyle app with amusing gamification design and other social elements. Owning NFT sneakers in STEP allows you to walk, run, and jog outside to earn GMT, which are useful for leveling up and minting new Sneakers in the STEPN application.
All enthusiastic players who buy GMTs are able to utilize them for unlocking all features of the STEPN app. Besides that, they can also vote in governance elections and upgrade to truly high-quality gems. Keep in mind that it’s also possible for players to use the in-app Marketplace to sell or lease their NFT sneakers.
All earned GMTs in this process are stored in the in-app wallet, including the popular “swap” function.
Who is the creator of STEPN?
The creator of the STEPN network is an Australia-based fintech studio called “Find Satoshi Lab.” Back in 2021, the company won the Solana Ignition Hackathon Gaming Track. Besides that, Find Satoshi Lab is a DeFi Alliance Gaming cohort member.
They are worldwide known as the creators of Steph, a move2earn NFT Game with the main goal of reducing global carbon emissions. Find Satoshi Lab, in short, is a development and game studio with a mission to inspire people to combat climate change, live a much healthier lifestyle, and connect them to Web3.
What tokens does STEPN include?
STEPN blockchain network includes two token systems. We’ve learned that one of them is the Green Metaverse Token, the famous governance token, but there’s another. Green Satoshi Token (GST) represents a game token earned in the game by completing all tasks. It’s crucial to know that the mechanic in the game is focused on buying different NFT Sneakers.
The rental system of NFT sneakers
It’s no secret that STEPN network users can purchase their own NFT Sneakers in the Marketplace. Besides that, the network also plans a special rental feature where participants, who are shoeless, can rent other players’ sneakers with ease. There wouldn’t be a cost for the rental nor a share of the income from running.
Rental system introduction makes the onboarding process much easier. At the moment, new users enter into the game-like application by creating an Exchange Account. They are also entering the game by turning fiat money into a digital currency and navigating the platform afterward with a decentralized wallet.
Thanks to this famous rental system, users can download the game app easily and rent a Sneaker to explore the entire game.
Price analysis of Green Metaverse Token
Since March 2022, STEPN (GMT) has seen a sharp increase in just over one month. Observing the data from CoinGecko, since March 11, the price of Green Metaverse Token has exceeded 3500%, once the price of a coin was equal to $0,100826, which is approximately Rs 7.69 at today’s INR-USD price.
At the time of writing the Green Metaverse token article, the price of GMT is $3.18, which is approximately Rs 243.20, with the 24-hour trading volume of the incredible amount of $ USD 2,225,183,269.
The circulating supply is 600,000,000 GMT coins, and a max. supply of 6,000,000,000 GMT coins. Regarding the current price and other statistics, let’s proceed to the GMT FAQ and give you all the essential information, shall we?
The Green metaverse Token statistics
If you are thinking about how to buy Green Metaverse token, here is some of the most important information regarding the GMT on CoinGecko:
- Green Metaverse Token Price: $0.875327 at the time of writing
- Market Cap Rank: #84 at the time of writing
- Market Cap: $525,196,300
- Market Cap Dominance: 0.056%
- Volume/Market Cap: 0.5572
- All-time High: $4.11 -78.6%
- All-time Low: $0.100826 770.4%
Green Metaverse Token Price Prediction and how and where to buy
- Green Metaverse Token Price Prediction: The Price is predicted to rise 13.54% and reach $1.05 by July 03, 2022.
- Green metaverse token how to buy: Users are able to earn the GMT token during the Token Generation Event (TGE), where it can be minted.
- Green Metaverse Token where to buy: The Green Metaverse Token can be purchased on the famous Binance Smart chain. It is also available for trade. Register and log in as a new user in the Binance wallet.
What is the main reason behind the massive upward price trend?
The main reason behind the massive upward price trend of GMT, according to experts, is STEPN’s recent earnings reports. According to the company’s official statement, STEPN has managed to earn a profit of $26.81 million from their NFT Marketplace by trading and royalty fees in the first quarter of 2022.
Metaverse – briefly explained.
Regarding science fiction and futurism, the term “Metaverse” is used to describe the Internet’s hypothetical iteration as an immersive, single, and universal virtual world. That world is facilitated by using Virtual Reality and augmented reality headsets.
On the other hand, the everyday meaning of the Metaverse represents a wide network of 3D virtual worlds focused on social connection. The development of the Metaverse is usually linked to the advancement of virtual reality technology. It has resulted from the increasing demands for immersion.
Web3 was a big influence on metaverse development since Web3 represents a unique concept for a decentralized iteration of the Internet. Along with The Metaverse, Web3 has been used as buzzwords to amplify the progress of the development of numerous related projects and technologies that are used for public relations purposes.
However, some concerns within the Metaverse are to be discussed, such as user addiction, user safety, and information privacy. It’s a real challenge dancing the video game industries and the social media as a whole, and time will be the best factor in showing us how these challenges will be treated and, eventually, resolved.