STEPN
STEPN is a Web3 lifestyle app that rewards users with GST/GMT cryptocurrency tokens for GPS-verified walking, jogging, and running outdoors. Built on Solana by Find Satoshi Lab, it serves fitness enthusiasts and crypto users through NFT-based move-to-earn mechanics and a multi-product ecosystem.
- Company typePrivate
- Founded2021
- HeadquartersAdelaide, Australia
- Headcount51–100
- GTM typeB2C
- OfferingSoftware
What STEPN does
STEPN is a Web3 lifestyle application operated by Find Satoshi Lab Limited (incorporated in the British Virgin Islands with operating presence in Adelaide, Australia), founded in 2021 after placing fourth at the Solana Ignition Hackathon 2021. The platform pioneered the "move-to-earn" model: users acquire NFT sneakers (categorized by type — Walker, Jogger, Runner, Trainer — and quality — Common, Uncommon, Rare, Epic, Legendary), equip them in the mobile app, and earn GST (Game Token) and, at Level 30+, GMT (Governance Token) by completing GPS-verified outdoor movement sessions. The application is free to download on iOS and Google Play and operates across multiple blockchain realms including Solana, BNB Chain, Ethereum, and Polygon. Core technology includes the SMAC-7 machine learning anti-cheating system with Turing Score validation, an Energy replenishment system (4 refills daily, max 20 energy per realm), and anti-fraud detection for GPS spoofing, bot activity, and multi-device manipulation. STEPN has expanded into a broader Find Satoshi Lab ecosystem including STEPN GO (companion app), MOOAR (NFT marketplace), Dooar (decentralized exchange), Morchi (NFT collection), FSL Game Hub, and GMT Pay (Web3 payments).
Revenue is generated entirely through transaction-based mechanisms rather than subscriptions: a 2% fee on secondary NFT marketplace trades (since December 2022 listed in GMT), sneaker minting costs (GST plus dynamic GMT components), GMT-burn sneaker enhancements for success-rate boosts, mystery box openings paid in GST, and GST-based sneaker repair. The customer base is a long-tail of two personas — fitness enthusiasts monetizing physical activity, and Web3/crypto users seeking NFT and token utility — distributed globally with explicit geographic restrictions excluding the United States, Mainland China, Hong Kong, Canada (Ontario), India, and several sanctioned jurisdictions. STEPN has cultivated a portfolio of high-profile brand partnerships (Automobili Lamborghini, adidas, ASICS, Snoop Dogg, Argentina Football Association, Atletico Madrid, Steve Aoki, Ubisoft Rabbids, Pantone, Casio G-SHOCK, Guinness World Records, KDDI) yielding co-branded permanent sneaker skins. Recent tokenomic actions include the GMT halving mechanism effective January 1, 2026, and the company has acknowledged user retention challenges tied to high NFT entry costs and declining token rewards, while continuing to invest in multi-chain expansion and ecosystem product launches through mid-2026.
STEPN firmographics
Firmographics- Name
- STEPN
- Legal name
- FindSatoshi Lab Limited
- Website
- https://stepn.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- STEPN is a Web3 lifestyle app that rewards users with GST/GMT cryptocurrency tokens for GPS-verified walking, jogging, and running outdoors. Built on Solana by Find Satoshi Lab, it serves fitness enthusiasts and crypto users through NFT-based move-to-earn mechanics and a multi-product ecosystem.
- Ownership category
- akta.pro rank
STEPN industry classification
Industry- Product category
- Move-to-Earn Fitness Application
- akta.pro primary industry
- NFT Marketplaces & Aggregators (primary/secondary, discovery, cross-market routing) (FSAPAFAB)
- akta.pro secondary industry
- Metaverse Virtual World Platforms (social worlds, land, UGC) (FSAPAGAD)
Keywords
Where STEPN is headquartered
LocationHeadquarters
- HQ city
- Adelaide
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
STEPN business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations
Revenue model
- NFT Marketplace Trading Fees: 2% marketplace trading fee on secondary NFT sales (sneakers, gems, minting scrolls). As of December 2022, all NFT prices in marketplace listed in GMT.
- Sneaker Minting Costs: Users pay GST and GMT for shoe-minting to create new NFT sneakers. Costs include base minting cost plus dynamic costs that can change multiple times daily.
- Sneaker Enhancement: Users burn GMT to enhance sneakers and improve success rates for gem upgrades, shoebox quality, and double minting chances.
- Mystery Box Opening: Base cost to open mystery boxes increases with box quality. Users pay GST to open boxes containing GST, gems, and NFT sneakers.
- Sneaker Repair: Users pay GST to repair sneaker durability. Higher quality/level sneakers have higher repair costs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | — | Free App Download |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
STEPN product offering
Product offeringCore offering
STEPN is a Web3 lifestyle mobile application built on the Solana blockchain that lets users earn GST and GMT cryptocurrency tokens by walking, jogging, or running outdoors while equipped with NFT sneakers. Users mint or purchase NFT sneakers in the in-app marketplace, spend Energy units to convert GPS-verified movement into token rewards, and can upgrade, repair, or trade their assets on a 2%-fee secondary marketplace. The platform extends into STEPN GO (companion app with Uncommon Sneakers), MOOAR NFT marketplace, Morchi NFT collections, Dooar decentralized exchange, and GMT Pay Web3 payments.
Product overview
STEPN is a Web3 lifestyle application built by Find Satoshi Lab Limited that operates on a move-to-earn model, incentivizing physical activity through NFT sneakers and cryptocurrency rewards (GST/GMT tokens). The core platform includes the STEPN app and STEPN GO for earning through movement, with supporting platforms including the NFT Marketplace for trading sneakers/gems/scrolls, the decentralized exchange Dooar, Mooar and Morchi NFT platforms, and FSL Game Hub for ecosystem services. Key features include the Energy System for pacing earnings, Mystery Box System for random rewards, Leaderboards for social competition, Challenge Capsules for gamified tasks, and the SMAC-7 Anti-Cheating System for integrity. The ecosystem expanded with GMT Pay for Web3 payments and Music System for Apple Music integration during runs.
Differentiator
Problem solved
Functional benefit
Brands
- STEPN GO: A companion mobile application for the STEPN ecosystem
- MOOAR
- Morchi
- FSL Game Hub
Products and services
- STEPN Mobile Application A Web3 lifestyle mobile app that rewards individual users for walking, jogging, or running outdoors with GPS-verified movement by equipping NFT sneakers and earning GST/GMT cryptocurrency tokens. Free to download on iOS and Android.
- STEPN GO A companion mobile application to STEPN featuring Uncommon Sneakers with enhanced gameplay, Gift Bag social-gifting features, and a dedicated roadmap for the FSL ecosystem.
- STEPN In-App NFT Marketplace In-app NFT marketplace for primary issuance and secondary trading of NFT sneakers, gems, minting scrolls, and other in-game assets. Charges a 2% trading fee on secondary sales, with GMT-denominated pricing.
- MOOAR NFT Marketplace NFT marketplace platform within the Find Satoshi Lab ecosystem for trading digital assets and collectibles beyond the core STEPN in-app marketplace.
- Dooar Decentralized Exchange Decentralized exchange within the FSL ecosystem supporting SPL/BEP GMT and ERC-GMT token swaps with liquidity provisions.
- FSL Game Hub Gaming ecosystem hub under Find Satoshi Lab (FSL) aggregating updates, events, and integrations across the STEPN, STEPN GO, MOOAR, Morchi, and Dooar ecosystem.
- STEPN Sneaker NFTs NFT sneaker digital assets in five qualities (Common to Legendary) and four types (Walker, Jogger, Runner, Trainer), with attributes for Efficiency, Luck, Comfort, and Resilience. Required to earn tokens in the STEPN app.
- Rainbow Sneakers Special NFT sneakers that exclusively earn GMT tokens, equipped with 4 Rainbow Gem slots and Trainers (1-20km/hr) speed range. HP is non-restorable and decreases with energy usage.
Quantifiable outcome
- STEPN has faced user retention challenges due to high entry costs and declining token rewards
Companies that use STEPN
Customer profileSegments2 records
Ideal customer profiles2 records
STEPN technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability2 records
Feature6 records
STEPN partnerships and signals
Strategic signalPartnerships
18 partnerships are on record, tiered flagship, core, regional and minor.
- Automobili LamborghiniflagshipSTEPN partnered with Automobili Lamborghini to launch the first-ever legendary NFT sneakers on December 8, 2025. The partnership includes the release of digital sneakers in multiple editions, enabling holders to access a Web3 platform and unlock surprise features. This is a flagship partnership bringing luxury automotive brand into the STEPN ecosystem.
- ASICScoreCo-branded sneaker collaboration with ASICS (tennis/sportswear brand). ASICS 1 & 2 are permanent sneaker skins available in STEPN.
- AdidascorePartnership with Adidas including physical Ultraboost 5 drop in December 2024 and ADIDAS permanent sneaker skin. Adidas skins have priority retention in sneaker enhancement hierarchy.
- Snoop DoggcorePartnership with Snoop Dogg including collaboration highlights and Snoop Dogg permanent sneaker skin. STEPN and Snoop Dogg bringing West Coast vibes to Web3 fitness.
- Argentina Football Association (AFA)regionalSTEPN x Argentina partnership including STEPN x AFA permanent sneaker skin and collaboration announcements in May 2025 townhall.
- Steve AokiminorCollaboration with DJ/producer Steve Aoki featuring permanent sneaker skin. STEPN and Steve Aoki gamifying the wellness industry.
- Ubisoft RabbidsminorPartnership with Ubisoft featuring Rabbids NFT sneakers. Ubisofts Rabbids raid StepN collaboration for move-to-earn gaming.
- Atletico MadridregionalCo-branded sneaker partnership with Atletico Madrid football club including Atletico Madrid permanent sneaker skin.
- PantoneminorPartnership with Pantone color authority featuring Pantone permanent sneaker skin. STEPN-Pantone partnership brings signature colors to Web3 fitness.
- Casio/G-SHOCKminorPartnership with Casio G-SHOCK featuring collaboration highlights in September 2024 townhall. Partnership with Casio for STEPN GO virtual sneaker collaboration.
- Javier MascheranominorPartnership with footballer Javier Mascherano featuring Mascherano permanent sneaker skin. Javier Mascherano launches Alchemy Pay NFT checkout.
- Ghost in the ShellminorCo-branded sneaker collaboration featuring Ghost in the Shell skin under Permanent Skin collection.
- KDDIregionalPartnership with KDDI announced in April 2025 townhall, expanding STEPN's presence in the Japanese market.
- Guinness World RecordscorePartnership with GUINNESS WORLD RECORDS announced in November 2024 townhall. Successfully achieved Guinness World Record in 2024.
- MOOARcore
- SilenciominorSilencio x STEPN collaboration announced in April 2025 townhall.
- Brave BrowserminorBrave Rewards 3.0 Partner Program collaboration including STEPN GMT Pay Raffle announced in August 2025. Brave serves over 91 million monthly active users.
- Solana FoundationcoreSTEPN is built on Solana blockchain, which processes over 65,000 transactions per second with confirmation times under one second and average transaction costs below $0.001.
Scale indicators2 records
Recent moves6 records
Expansion highlights6 records
STEPN competitors and assessment
Company assessmentBroad incumbents
- Strava: Dominant mainstream GPS fitness app with social leaderboards, challenges, and a large engaged community — comparable activity-tracking and social-competition features, but without Web3/token rewards.
- Fitbit (Google): Mass-market fitness tracking platform that combines activity monitoring with social features — a broad incumbent in fitness apps that could expand into reward-based engagement.
- Nike (.Swoosh / NFT Studio): Global athletic brand with Web3 NFT initiatives (.Swoosh) that directly competes for brand-NFT collaboration mindshare against STEPN's Adidas/ASICS/Lamborghini partnership pipeline.
Emerging players
- Magic Eden: Leading NFT marketplace originally on Solana with multi-chain expansion — overlaps with STEPN's MOOAR marketplace platform and shares the Solana/multi-chain NFT distribution model.
- Axie Infinity: Pioneering GameFi play-to-earn app on Ronin/Ethereum where players earn tokens through gameplay using NFT assets — comparable Web3 model with NFT asset utility and dual-token economy.
Direct peers
- Walken: Move-to-earn mobile game on Solana that rewards users with tokens for walking, directly competing with STEPN's reward mechanics and chain ecosystem.
- Dotmoovs: Web3 sports/fitness app that uses AI to verify physical activity and rewards users with tokens — overlapping with STEPN's SMAC-7-style anti-cheat and tokenized fitness incentive model.
- Sweat Economy: Move-to-earn Web3 fitness app where users earn tokens for physical movement, the most direct functional competitor to STEPN's core value proposition.
- Genopets: Move-to-earn Solana-based NFT game combining fitness activity with NFT creatures and token rewards, comparable to STEPN's NFT-asset + movement mechanic.
- Step App (FITFI): Move-to-earn Web3 fitness platform on Avalanche/Polygon rewarding users with token for outdoor movement — direct alternative in the same move-to-earn category as STEPN.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
STEPN social profiles
Digital presenceSTEPN compliance and trust
Trust signalCompliance1 record
STEPN financial estimates
Financial estimateRevenue estimate
Valuation estimate
STEPN leadership team
Management profileNumber of profiles
STEPN subsidiaries and ownership
Company hierarchySubsidiaries5 records
STEPN funding detail
Funding detailFunding overview
Funding rounds1 record
Investors17 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
STEPN M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about STEPN
What does STEPN do?
STEPN is a Web3 lifestyle mobile application built on the Solana blockchain that lets users earn GST and GMT cryptocurrency tokens by walking, jogging, or running outdoors while equipped with NFT sneakers. Users mint or purchase NFT sneakers in the in-app marketplace, spend Energy units to convert GPS-verified movement into token rewards, and can upgrade, repair, or trade their assets on a 2%-fee secondary marketplace. The platform extends into STEPN GO (companion app with Uncommon Sneakers), MOOAR NFT marketplace, Morchi NFT collections, Dooar decentralized exchange, and GMT Pay Web3 payments.
Is STEPN a public or private company?
STEPN is a private company. It is classified as venture growth investor backed and is currently operating.
When was STEPN founded?
STEPN was founded in 2021. It employs 51 to 100 people.
Where is STEPN based?
STEPN is headquartered in Adelaide, Australia, in the Oceania region.
How does STEPN make money?
Five revenue lines are on record. NFT Marketplace Trading Fees are the primary driver. The others are sneaker Minting Costs, sneaker Enhancement, mystery Box Opening and sneaker Repair.
Who are STEPN's main competitors?
Broad incumbents on record are Strava, Fitbit (Google) and Nike (.Swoosh / NFT Studio). Emerging players are Magic Eden and Axie Infinity. Direct peers are Walken, Dotmoovs, Sweat Economy, Genopets and Step App (FITFI).
Does STEPN have an API?
No public API is recorded for STEPN.
What industry is STEPN in?
STEPN's product category is Move-to-Earn Fitness Application. Its primary akta.pro industry code is FSAPAFAB, NFT Marketplaces & Aggregators (primary/secondary, discovery, cross-market routing), with a secondary code of FSAPAGAD, Metaverse Virtual World Platforms (social worlds, land, UGC).