What Find Satoshi Lab does

Find Satoshi Lab (FSL) is a private Web3 product development studio operating an integrated ecosystem of decentralized applications spanning fitness, gaming, decentralized finance, NFTs, and identity. Its core product is STEPN, a move-to-earn mobile application that uses GPS-based activity tracking to reward users with the native GMT token for walking, jogging, or running outdoors; the firm reports 5.7M+ registered users and 347M kilometers of cumulative activity on STEPN. Adjacent products include STEPN Go (a mobile-optimized variant with gamified token-locking and an Alpha draw of 50M participants, 659K+ KM tracked), MARATHOn (a DeFi staking dApp offering 60% APY with 115k+ GGUSD locked), MOOAR (an NFT marketplace), DOOAR (a decentralized exchange in beta), and FSL ID (a cross-ecosystem identity/authentication layer), all linked by shared GMT/GGUSD tokenomics.

FSL's business model is token-mediated rather than subscription- or SaaS-based. Revenue mechanics are described as transaction fees, token burns, and value capture from ecosystem token utility, with no traditional pricing publicly disclosed. The firm pursues a product-led growth motion distributing apps directly through iOS/Android app stores and web dApps, supplemented by in-product referral programs, gamified progression, and a high-profile brand partnership roster (adidas, ASICS, G-SHOCK, Atletico de Madrid, AFA, Binance, LINE, DOCOMO, Steve Aoki, Ghost in the Shell SAC_2045, and Web3-native projects such as DeGods and Sunflower Land). The company is privately held with 11–50 employees, headquartered at fsl.com, and serves a horizontal consumer segment of Web3/crypto users and fitness enthusiasts globally.

Name

Find Satoshi Lab

Legal name

Find Satoshi Lab

Website

https://findsatoshilab.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Find Satoshi Lab (FSL) is a private Web3 product studio that builds and operates an integrated ecosystem of consumer dApps — led by the move-to-earn fitness app STEPN — serving crypto-native and fitness-oriented consumers globally via token-based economics.

Ownership category

akta.pro rank

Product category

Web3 Lifestyle Applications

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Player Wallets, Identity & Accounts for Games (embedded wallets, SSO, DID) (FSAPAGAF)

akta.pro secondary industries

Interoperability & Asset Bridging for Games (cross-game/cross-chain assets) (FSAPAGAJ), Account Abstraction & Smart Wallet Tooling (AA SDKs, paymasters, session keys) (FSAPABAK)

Keywords

• Web3 fitness applications
• Move-to-earn platform
• Decentralized finance protocol
• Blockchain gaming ecosystem
• NFT marketplace platform

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Token Economy (GMT): FSL's ecosystem generates value through its native GMT token, which is earned by users through physical activity (STEPN/STEPN Go) and staking (MARATHOn). The company benefits from token transaction fees, token burns, and ecosystem growth driving token utility and demand.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Find Satoshi Lab develops and operates a portfolio of Web3 lifestyle applications centered on the STEPN and STEPN Go move-to-earn fitness apps, the MARATHOn DeFi staking protocol, the MOOAR NFT marketplace, the DOOAR decentralized exchange, and the FSL ID identity platform, all interconnected through the shared GMT/GGUSD token economy.

Product overview

Find Satoshi Lab (FSL) operates a multi-product Web3 ecosystem centered around fitness, gaming, and decentralized finance. The core products include STEPN and STEPN Go (fitness/lifestyle apps tracking physical activity with token rewards), MARATHOn (a gaming/DeFi marathon dApp), MOOAR (NFT marketplace), DOOAR (decentralized exchange), and FSL ID (identity/authentication platform). These products are interconnected through shared token economies (GMT, GGUSD) and user identity systems, forming an integrated Web3 lifestyle platform.

Differentiator

Problem solved

Functional benefit

Brands

• STEPN: Move-to-earn fitness app with registered users and fitness tracking
• STEPN Go
• MARATHOn

Products and services

• STEPN A Web3 fitness and lifestyle application that tracks outdoor physical activity (walking, jogging, running) via GPS and rewards users with GMT tokens. Features an NFT sneaker asset model and gamified progression. Targets individual consumers interested in earning crypto through exercise.
• STEPN Go A mobile-first iteration of the STEPN fitness platform that incorporates an Alpha draw lottery mechanic and gamified GMT token rewards. Designed for individual consumers seeking a gamified move-to-earn experience on mobile.
• MARATHOn A Web3 DeFi staking and gaming protocol that allows users to stake GGUSD stablecoins and earn 60% APY. Currently in Round 1 as a marathon dApp. Targets crypto investors and DeFi yield seekers.
• MOOAR An NFT marketplace operating within the FSL ecosystem that enables buying, selling, and creating digital collectibles including ecosystem NFT assets. Targets Web3 users and digital asset collectors.
• DOOAR A decentralized exchange (DEX) currently in beta that enables token trading within the FSL ecosystem. Targets crypto users seeking peer-to-peer token swaps.
• FSL ID An identity and authentication platform that provides identity services across all FSL ecosystem applications. Targets users of STEPN, STEPN Go, MARATHOn, MOOAR, and DOOAR who need a unified login and identity layer.

Quantifiable outcome

• 5.7M+ registered users on STEPN platform
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• adidascoreGTM or Marketing PartnerGlobal sportswear brand partnership with FSL for co-branded Web3 fitness products and cross-promotional campaigns.
• G-SHOCKminorGTM or Marketing PartnerCasio-owned watch brand partnership for branded merchandise and co-marketing initiatives.
• ASICScoreGTM or Marketing PartnerJapanese sports equipment manufacturer partnership targeting fitness-conscious Web3 users.
• Steve AokiminorGTM or Marketing PartnerDJ and music producer partnership for celebrity endorsement and Web3 community engagement.
• Atletico de MadridminorGTM or Marketing PartnerSpanish football club sponsorship for sports and fitness-themed Web3 activations.
• AFA (Argentina Football Association)minorGTM or Marketing PartnerArgentine football governing body partnership for sports-themed NFT and gaming experiences.
• BinancecoreTechnology or IntegrationLeading cryptocurrency exchange partnership for token listings, liquidity provision, and ecosystem integration.
• WhaleFinminorGTM or Marketing PartnerCrypto financial services platform partnership for fintech integration.
• Ghost in the Shell SAC_2045minorGTM or Marketing PartnerAnime IP partnership for limited edition NFT drops and co-branded digital collectibles.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Step App: Web3 Move-to-Earn fitness app using GPS tracking and token rewards — a direct category competitor to STEPN with a similar M2E value proposition targeting crypto-native fitness users.
• Genopets: Move-to-Earn Web3 game where physical activity levels up a digital pet and earns token rewards — closely comparable STEPN mechanics with a creature-collection framing rather than sneakers.
• Walken: Web3 walking app that rewards users with tokens for daily step counts and casual gameplay. Comparable M2E mechanics targeting the same consumer fitness-and-crypto audience as STEPN.
• Sweatcoin: Largest non-crypto Move-to-Earn app, converting physical steps into a digital currency redeemable for goods. Closest mainstream analog to STEPN's value proposition outside the Web3 category.
• Sweat Economy: Web3 successor to Sweatcoin, issuing a tradable token (SWEAT) for verified physical activity. Directly comparable to STEPN in combining step tracking with a tradeable token economy.
• Dotmoovs: Web3 sports platform rewarding users with tokens for AI-verified performance in activities like football freestyle and dance. Overlaps STEPN's broader 'earn for physical activity' thesis.

Broad incumbents

• Axie Infinity (Sky Mavis): Largest Web3 gaming ecosystem (Play-to-Earn), comparable in token-driven gaming mechanics and NFT-based progression but in a creature-battle genre rather than fitness.
• The Sandbox: Major Web3 metaverse and gaming platform with NFT marketplace and user-generated content. Comparable in operating a multi-product Web3 gaming ecosystem with marketplace and token economy.
• Magic Eden: Leading multi-chain NFT marketplace. Comparable to FSL's MOOAR product as a competitor in the same NFT marketplace category, though broader across non-FSL ecosystems.

Emerging players

• DeFi Kingdoms (Kingdom Studios): Web3 game combining DeFi mechanics (staking, liquidity provision) with RPG gameplay — comparable to FSL's MARATHOn + STEPN combination of yield-bearing DeFi wrapped inside a game-like experience.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/fslweb3
• LinkedInlinkedin.com/company/fslweb3

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Find Satoshi Lab