- STEPN’s popularity drastically declined in the month of July.
- The firm stated the accusations “baseless claims that are factually inaccurate.”
According to reports, the “move to earn” fitness app has let go of more than a hundred independent contractors. According to the South China Morning Post and crypto analyst Colin Wu of Wu Blockchain, these individuals include community moderators, ambassadors, and others. The firm, however, stated that these accusations are “baseless claims that are factually inaccurate.”
STEPN spokesperson said:
“The reality is that STEPN has parted ways with volunteer MODs who have not been active in the last few weeks and months. Regarding our staff, STEPN is actively hiring for several different roles within the company.”
A form for prospective employees to submit their interest in working at STEPN can be found under the “Careers” page of the firm’s website, which is still active at the time of this writing.
Steep Decline in Users
In 2021, STEPN released an app where users can purchase NFT “virtual running shoes” that will enable them to earn STEPN’s native token, GMT, by tracking their real-world step count. These time-depreciating virtual shoes were once highly sought after in the cryptocurrency market.
There was a meteoric rise in STEPN’s monthly active users in May and June of this year; Dune Analytics recorded over 700,000 in May and almost 500,000 in June.
However, STEPN’s popularity drastically declined in the month of July. In July, monthly active users dropped by half. A month before, it received 140,000 visitors, but just 99,000 in September. From a high of 58,000 on June 21 to barely 5,800 on September 15 is a precipitous drop in the number of daily active users.
Recommended For You: