Complete Gate Post tasks to upgrade your rank

Credit Ranking

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/image/article/1744854802kp.png)

## Introduction

GMT is the governance token of the STEP platform, which is a 'play-to-earn' game based on the <a href="/ja/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> blockchain, encouraging users to earn tokens and NFT rewards through outdoor activities. As a leading project in the GameFi sector from 2021 to 2023, STEP's GMT coin once reached a market value of $12 billion, demonstrating its market influence. This article will delve into the development history of the GMT coin, recent dynamics of STEP GO, price fluctuations (especially the impact of the BurnGMT plan in November 2024), and the future. [Price prediction](/price-prediction).

Trade GMT now:
<a href="https://www.gate.io/trade/GMT_USDT?ch=ann7128" target="_blank" title="https://www.gate.io/trade/GMT_USDT">https://www.gate.io/trade/GMT_USDT</a>

## STEPN: Leading the GameFi giant revolution of earning while playing

As the leading GameFi project in the previous cycle from 2021 to 2023, <a href="/ja/price/stepn-gmt" target="_blank" class="blog_inner_link">STEPN</a> (GMT) has sparked a revolution in the intersection of cryptocurrency and a healthy lifestyle with its innovative 'earn while moving' model.

![](https://gimg2.gateimg.com/image/article/17448543191.png)

STEPN was founded by Find Satoshi Lab (FSL) in Australia in August 2021 and quickly became a leader in the GameFi field. Its innovation lies in combining blockchain technology with a healthy lifestyle. Users equip NFT sneakers to engage in outdoor activities, earning GST (Green Satoshi Token) and GMT. GMT serves not only as a governance token, but also for unlocking and rewarding functions within the ecosystem.

In November 2021, GMT reached a historical high of $4.90, with a circulating supply of about 250 million and a market capitalization of approximately $12.25 billion, demonstrating a high degree of market recognition for STEP. However, after 2022, the <a href="/ja/price" target="_blank" class="blog_inner_link">crypto market</a> entered a bear market. [GMT price](/price/stepn-gmt) A sharp drop, with a price of $0.04625 on April 15, 2025, and a market value of $130 million, down 99% from its historical high.

## STEPN's operation mechanism: dual token system

The core of STEPN lies in its dual token system: GST is used to reward users' sports activities; GMT is used for governance and ecosystem expansion. Users need to purchase or rent NFT sports shoes, each pair of shoes has different rarity and attributes, which affect the earnings. Users earn GST and mysterious boxes (containing NFTs and tokens) by wearing sports shoes for outdoor activities and consuming shoe energy.

In addition to earning through sports, STEP also offers a Sneaker leasing system, allowing users without NFTs to rent shoes to start earning, reducing the entry barrier. According to the STEP white paper, the leasing system is implemented through FSL ID, and users can get started with just an email and activation code, aiming to promote the adoption of <a href="/ja/web3" target="_blank" class="blog_inner_link">Web3</a>.

STEPN's community governance is its important feature, users holding and staking GMT can participate in voting, influencing the platform's future development direction. For example, GMT can be used to vote on the use of the ecological fund or the introduction of new features, enhancing community engagement.

## STEPN GO: A new lifestyle application that combines social and gaming

In May 2024, STEPN announced the launch of a new social fitness application STEPN GO on the official X platform, which includes more social interactions such as easy entry through the Haus System, the ability to lend Sneakers to others, showcasing more designs on the interactive map within the application, and the introduction of a new token GGT (GO GAME TOKEN). GGT, as a game token, has an unlimited supply, while GMT remains the governance token. In STEPN GO, GMT is still used for upgrading sneakers, etc.

![](https://gimg2.gateimg.com/image/article/17448543433.png)

[STEPN](/price/stepn-gmt) The 2.0 version of GO has brought many innovations to the entire sneaker ecosystem, especially in the introduction of GGT tokens, the launch of the shoe rental system, and the more strategic entry threshold design. For early players, this is undoubtedly a new opportunity.

In addition, STEPN GO has also introduced GGT (GO GAME TOKEN) as a new utility token, further enriching the ecosystem. According to the official website of STEPN GO, GGT is used to incentivize users to participate in social and gaming activities, enhancing user stickiness.

## BurnGMT Plan: Temporary Boosting of GMT Coin Price

In November 2024, STEP announced the BurnGMT plan, with the team repurchasing approximately 6 billion GMT coins and donating these tokens to the ecosystem fund managed by GMT DAO. According to the official introduction, these tokens mainly come from early investors, advisors, and team allocations of unlocked tokens.

Subsequently, the team developed the BurnGMT.com platform, allowing users to lock GMT coins to vote on whether to destroy these repurchased tokens. The voting activity will last from November 21, 2024, to January 20, 2025, for a total of 60 days. Users participating in the vote will also receive a reward of 1 million GMT as an incentive.

The purpose of the BurnGMT plan is to enhance the deflationary properties of GMT by reducing the circulating supply. After the plan was announced, [GMT price](/price/stepn-gmt) Start to rise, reaching $0.40 by the end of 2024, showing the market's optimistic expectations for the BurnGMT plan.

However, since entering 2025, the <a href="/ja/price/stepn-gmt" target="_blank" class="blog_inner_link">GMT price</a> has fallen continuously, currently dropping to a low of $0.046, with a market cap of $130 million, a decrease of 82.33% over the past year. This may be related to the volatility of the entire crypto market, or it may reflect investors' pessimistic expectations for the slow development of STEP N GO.

## Conclusion

As the governance token of STEPN, GMT has witnessed the transformation of STEPN from the leader in GameFi to the constantly innovative Web3 lifestyle application. The implementation of the BurnGMT plan and the launch of STEPN GO have brought new growth opportunities for GMT. Despite the current price being lower than historical highs, the market still holds an optimistic view on the long-term potential of STEPN and GMT. Investors should closely follow the latest developments of STEPN and market trends, and carefully assess market risks.

Risk warning: The <a href="/ja/price" target="_blank" class="blog_inner_link">cryptocurrency market</a> is highly volatile, and the price of GMT may be affected by factors such as regulatory policies and the rise of competitors, leading to differences between actual performance and expectations.

<div class="blog-details-info">
  <div>Author: Charle A., Gate.io Researcher<div class="info-tips">*This article represents only the author&#39;s views and does not constitute any trading advice. Investing involves risks, so decisions should be made cautiously.
<div>*This content is original and the copyright belongs to Gate.io. If you need to reprint, please indicate the author and source, otherwise legal responsibility will be pursued.
</div><p></p>
</div></div></div>

简体中文

English

Tiếng Việt

Español

Русский язык

Français

ภาษาไทย

Indonesia

Deutsch

عربي

Português (Portugal]

Português (Brasil]

繁體中文

Українська

福利中心

web3 Airdrop

launchpool

小红花-Exchange-Startup

交易-盘前交易

launchpad

candy_drop

打新

小红花-Learn & Explore-博客

小红花-Learn & Explore-快讯

币圈-币圈-未来事件

小红花-Learn & Explore-聊天室

小红花-Learn & Explore-直播

小红花-Learn & Explore-动态

币圈

Gate OTC

芝麻金融-更多-财富管理

机构-APIs

机构-大宗交易服务

机构-经纪商项目

全球做市商计划

机构-托管和资产管理

机构借贷

机构-做市商项目

小红花-Promotions-机构和VIP服务

量化基金

机构-基础架构

机构-交易

机构-金融

结构化产品

机构-主页

衍生品-统一账户

芝麻金融-更多-抵押借币

vip服务

机构

策略跟单

现货跟单

交易-合约跟单

跟单

量化策略-探索

量化策略-进阶

量化策略-基础

交易-机器人广场

创建机器人

探索机器人

杠杆网格

无限网格

期现套利

组合指标策略

智能调仓

现货马丁格尔

合约网格

现货网格

交易机器人

芝麻金融-更多-ETH2.0挖矿

芝麻金融-更多-法币理财

链上赚币

芝麻金融-理财-双币宝

芝麻金融-理财-定期理财(屯币)

芝麻金融-理财-结构性理财

芝麻金融-理财-理财宝

芝麻金融-理财-余币宝

GT挖矿

芝麻金融-更多（理财产品）

芝麻金融-理财（打新）

赚币-HODLer Airdrop

赚币

模拟交易

衍生品-期权

衍生品-交割合约

衍生品-永续合约

合约入门

合约活动

衍生品

交易-杠杆ETF

交易-杠杆交易

交易-闪兑

交易-现货交易

交易-创新交易

交易-交易工具

交易-交易类型

交易

行情

买币-gateCard

卖币

买币-快捷交易

买币

买币-paywith

法币定投

小红花-推广

新手指南

活动中心

小红花-Learn & Explore-学院

小红花-Exchange-最新公告

小红花-Exchange-帮助中心

gate商店

小红花-Promotions-邀请计划

小红花-promotions-代理商

cextg小程序

储备金

合作伙伴

小红花

web3

GMT Coin: STEPN's Earn-To-Moving Project And Price Analysis