What is STEPN?
STEPN is a decentralized application operating on the Solana blockchain, pioneering the Move-to-Earn (M2E) model. The platform incentivizes users to engage in physical activity, such as walking, jogging, or running, by rewarding them with cryptocurrency. By integrating blockchain technology with fitness, STEPN aims to create a sustainable ecosystem where users can earn income through their outdoor activities, positioning itself at the intersection of Web3, gaming, and health and wellness.
How much funding has STEPN raised?
STEPN has raised a total of $5M across 1 funding round:
Angel/Seed
$5M
Angel/Seed (2022): $5M with participation from Folius Ventures, Alameda Research, Sequoia Capital India, and Solana Ventures
Key Investors in STEPN
Folius Ventures
Folius Ventures is an investment firm that typically backs early-stage companies, likely focusing on the digital asset and blockchain space.
Alameda Research
Alameda Research is a quantitative trading firm and cryptocurrency derivatives exchange, known for its investments in blockchain and digital asset projects.
Sequoia Capital India
Sequoia Capital India is a prominent venture capital firm that invests in technology companies across various stages, with a strong presence in the Indian and Southeast Asian markets.
What's next for STEPN?
With this substantial enterprise-level backing, STEPN is poised for accelerated growth and further development of its platform. The strategic investment is expected to enhance its technological infrastructure, expand its user base globally, and potentially explore new revenue streams or partnerships within the blockchain and fitness industries. The company's trajectory suggests a focus on solidifying its market leadership and driving mainstream adoption of the Move-to-Earn concept.
See full STEPN company page
