Welcome to bulliscoming media, after the IEO (Initial Exchange Offering) launch of Green Metaverse Token (GMT) on the Binance exchange, the token has been gaining so much attention and traction.
As we know, Binance is one of the leading cryptocurrency exchange platforms in the world, thus, much attention on GMT is expected.
However, most crypto enthusiasts/investors have been eager to know all about the green metaverse token and its project.
Hence, I will be giving you more insight into the token and the project in this article. I will also let you know (based on personal opinion) if the GMT token is a good investment.
What Is Green Metaverse Token?
Green Metaverse Token (GMT) is a solana based token, it is the governance token of STEPN and it has a total supply of 6 billion GMT.
It currently has $84B market capitalization with over $242M trading volume.
GMT Is the utility and incentive token in STEPN, so let’s check out what STEPN is all about.
Read: X2Y2 Airdrop – How To Claim X2Y2 Token Worth Up To $3500
What Is STEPN?
STEPN is a Move-to-Earn health and fitness application. Users equipped with Sneaker NFT can move outdoors to earn tokens and NFT rewards.
STEPN has a built-in wallet, swap, marketplace, and RNPL (Rent Now Pay Later) system to make STEPN a bridge between crypto and non-crypto users.
STEPN has a dual-token system, a game token – Green Satoshi Token (GST) and a governance token – Green Metaverse Token (GMT).
Features Of STEPN
Below are the key features of STEPN (a move to earn health and fitness app).
- Mobile Application
STEPN is live on iOS AppStore and Google Play store (Restricted to certain countries).
- Sneaker NFT
Every sneaker has different types, qualities, attributes, and gem sockets. Users can burn tokens to level up and customize sneakers.
- Move and Earn
Users equipped with sneakers NFT can move outdoors and earn tokens. There are multi-layers anti-cheating mechanics to prevent exploitation.
- RNPL (Rent Now Pay Later) System
Users can rent a sneaker for free, move and earn and then split the earnings with the sneaker owner.
- In-app NFT marketplace
The In-app NFT marketplace will enable users to trade their NFTs on the marketplace seamlessly.
- In-app swap
With the In-app swap integrated, users can swap their token earnings to other forms of cryptocurrencies.
- In-app Decentralized Wallet
This allows users to deposit and send cryptocurrencies to the wallet to fund their spending accounts.
Is Green Metaverse A Good Investment?
Many tokens are launched every day, hence, it’s crucial to carefully analyze the cryptocurrency potential and product that will assure great ROI in the long term.
To know if Green Metaverse Token is a good investment or not, we ought to know what the product and team are bringing to the table that will make the project more intriguing. Before we carefully consider all these, it’s worthy to know that GMT has made a name for itself in the crypto space as it was able to meet the criteria to get into the Binance IEO launchpad.
And also, the token project (STEPN) has raised $5M from Sequoia Capital and other leading Web3 investors, where 16.30% of the GMT total token supply has been sold at 0.005 USD/GMT.
But then, that doesn’t make it a good investment, so let’s check out use cases that GMT possesses which could make it be considered a good investment below:
- Governance
Like it was said earlier, GMT is the governance token of STEPN and users can stake it to participate in governance, the longer the locking period, the higher the voting power.
- Profit Distribution
GMT holders own the treasury and can vote to decide the distribution of net profit.
- Accrual Of protocol Revenue
GMT is burned to access in-app features, such as sneaker upgrades and minting of new sneakers.
Furthermore, apart from its use cases, the STEPN was created by Find Satoshi Lab, an Australian-based fintech studio. With which the team won the 2021 Solana Ignition Hackathon Gaming Track and is part of the DeFi Alliance Gaming cohort.
While putting all these into consideration, GMT might be a good investment in the long term as the project is one of its kind in the blockchain industry that was able to garner enough traction and also get into the Binance launchpad, thus, getting listed on the Binance exchange.
Related: Bloktopia Token Review: Is Blok A Good Investment?
Conclusion
Green Metaverse Token is one of the best-launched tokens of the year because the project ideation is top-notch. A project that will disrupt the health and fitness industry and enable users to earn while they are moving.
However, any cryptocurrency investment is subjected to high risk as it’s a volatile market. Hence, this article should not in any way be considered investment advice.
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