STEPN: Town Hall 15th March 2023
For those that missed our March Town Hall, here’s a quick recap for you!
1. HypeSaints x STEPN Event
This event was relatively well received, with a lot of positive feedback from you guys!
We saw a 3.3x in daily mints, peaking at 7.3x compared to 1-week prior to the event.
The event was an incredible learning experience for us, and we will continue to search for more IP-collaboration opportunities. Expect more of such events in the future!
2. STEPN Marketplace [https://m.stepn.com/]
Accessible without logging in now (for desktop/mobile-based browsers)
3. UPROXX event
We will be co-hosting an event with UPROXX, a brand under the Warner Music Group on the 16th March 2023 in Austin. If you’re in the area, do drop by! We also have something in the works with one of the shows — FRESH PAIR. More details will be released soon.
Refer to the tweet below for details of the event in Austin: https://twitter.com/UPROXX/status/1635838616864960514
4. Panda Skin Event
Starts on International Panda Day: 16th March 2023
- Obtain a Panda Skin Sneaker from enhancement (guaranteed)
- Small chance to obtain a rarer Panda Skin
- First ever Permanent Skin — Skin will follow if you decide to enhance the sneaker further
- Obtain exclusive Panda Merch by participating! More information to be released tomorrow
5. Badge and Achievement System
Targeting to roll out by next month.
We will be introducing a point system that will be tagged along with the achievement and badge system.
- Obtain points by increasing your account level and completing achievements.
- These points can then be spent on cosmetic improvements, and even on badges!
- For badges, there will be tradable and non-tradable versions. More details will be provided closer to the release!
Physical badges are on the drawing board — will assess the feasibility.
6. FSL’s Goal
The aim here is to strive to be #1, building exciting and innovative products that have never been seen before. From here, we can bring in new users, create new markets and offer additional utility.
Right now, MOOAR, our NFT marketplace, is heading down the Artificial Intelligence Generated Content (AIGC) track — building a range of AI tools to provide more value to this line of products.
7. Generative NFT Tool (GNT)
GNT is an AI generative tool to create and mint NFTs on MOOAR.
Creation, deployment and fair minting — all on one platform.
We intend to eventually progress from only generating PFP art to other assets such as land, badges, and other gaming-related items.
Ultimately, we are looking to lower the barrier of entry and ease the onboarding of Web2 users into Web3. This can be done by offering unique experiences, and making NFT trading fun and rewarding at the same time.
Refer to this tweet for the full details: https://twitter.com/mooarofficial/status/1635955401664479234
🔶$GMT Tokenomics
We have structured GNT in a way to provide additional utility for $GMT. For instance, AIGC NFTs can only be made by burning $GMT.
Next, we will be gamifying our MOOAR Membership Level system to incorporate trading of NFTs in $GMT. Earn extra points by using $GMT for trading, as well as entitlement to join raffles. More details to come.
This way, by consistently adding use cases to $GMT, it will create a much more robust and healthy tokenomics structure, and thus will make it easier to onboard users.
🔶Differentiation Between Other Marketplaces [Token Incentivisation]
We see a very common phenomenon happening with other trade2earn marketplaces.
Trade > Receive Tokens > Sell tokens > Price crashes
This happens because of the preemptive release of many of these tokens, which usually start off with little to no utility, causing prices to plummet shortly after the airdrops.
For MOOAR, we take on a different approach. $GMT already has a ton of existing utilities (STEPN ecosystem, MOOAR voting, etc). We will hit the ground running with the launch of GNT, boosting the use case of $GMT.
🔶GNT product roll-out and timeline
Alpha testing will commence soon, and will be free at no cost involved.
On the 23rd March, we will launch the fair mint. Only once we are satisfied with the entire roll-out, will we then activate the $GMT burning option.
8. STEPN Development
Many have asked whether we are still focused on building STEPN.
To put it simply, yes we are.
- Multiple events, partnerships, product updates.
- GNT tool is also related to STEPN (i.e. generating your personal profile pictures)
Our main aim is to build something much bigger than merely a lifestyle and fitness app. The crypto market moves fast, and if we don’t keep up, we will be left behind.
We want $GMT to replicate a layer-1 token, in terms of utility and functionality. If the last bull run was led by GameFi and DeFi products, we strongly believe that the next bull run will be led by AI and Web3 social.
9. Referral System
Activation code system was good when it first launched. But we are aware of the current market conditions and it is time to revise it. Will discuss internally and decide on a roll-out plan.
10. UI/UX within STEPN
Will STEPN allow users to pick a favourite shoe/sorting feature?
- Current system locks the most recent sneaker
- Sometimes even though the product design seems simple on the surface, the underlying code may require a more thorough change.
- We need to weigh the time needed to be spent on this, against the time we could spend on shipping more valuable updates (i.e. opportunity cost)
- Will raise this up to the dev teams and evaluate
Conclusion
That’s a wrap for March! We will be hosting some events at NFT NYC, so stay tuned for our announcements if you are going to be in the area!
We hope that this Town Hall has provided you with a bunch of updates to look forward to.
Thank you for taking the time to tune in.
