HomeCryptoSTEPN's initiative to become carbon neutral

STEPN’s initiative to become carbon neutral

STEPN, the Web3 app that has been a huge success in a short time, is already committing to fight climate change with the goal of becoming carbon neutral as soon as possible

What is STEPN and how will it achieve carbon neutral status?

STEPN is a lifestyle Web3 application that combines elements of SocialFi and GameFi through its innovative business model

Over the past few years, there have been numerous projects that have developed the move-to-earn idea. None of these, however, had either the right degree of decentralization or a cryptocurrency with adequate tokeneconomics to back it up. 

STEPN’s success is partly due to these reasons, alongside having a strong community. This is because it is a multi-chain platform that supports in particular the Binance Smart Chain and the Solana blockchain. 

Thanks to this important interoperability factor, the project manages to be present on two of the largest ecosystems in the blockchain world, able to spread both its NFTs and its cryptocurrency. 

In particular, GMT, the main crypto that powers STEPN, has enjoyed great success on the market. It already enjoys a trading volume of over $1 billion and an ATH of $4.04. It currently hovers around the $1.50 mark, but still remains among the top trending on CoinMktCap.

In essence, the platform rewards users in crypto for moving outdoors, from a simple walk to a run, thus incentivizing them to adopt more environmentally friendly habits.

STEPN’s commitment to the fight climate change

STEPN has just started a special programme with the aim of promoting the fight against climate change. The platform itself is committing itself to this mission by investing part of its profits, namely $100,000 each month

These funds are earmarked for the purchase of ‘Carbon Removal Credits’ via blockchain through the Nori platform, a marketplace dedicated entirely to the sale of this type of credit.

The overall impact of STEPN on the planet

Thanks to the $1.2 million allocated annually, STEPN is able to impact the planet with a reduction of 69,565 tonnes of carbon each year.

So far, only two transactions have taken place, one in April and the other in May. By accessing the dedicated page, it is possible to view all the details of the relevant movements, thanks to the complete transparency provided by the blockchain. 

Certificate issued by Nori for the purchase of Carbon Removal Credits

The important initiative launched by STEPN not only spreads a positive message among the community, but will soon make the platform achieve carbon neutrality status. 

Thanks to the effective reward system devised by the team, the innovative Web3 app manages to achieve a twofold objective with its users. The first concerns the incentive to reduce emissions through small everyday gestures, thus increasing each person’s awareness that will be oriented towards more sustainable actions

Looking at it from a broader perspective, STEPN succeeds in its mission to improve our Planet, making a strong contribution and an important message to the whole world. 

Jerry Huang, co-founder of STEPN, commented on the mission as follows:

“We want to enable our users to each feel a sense of ownership towards this initiative. As the world pivots to making greener choices, we believe this is the first of many steps towards sustaining a conducive planet for future generations”.

Eliano Martellucci
Eliano Martellucci
Eliano has a bachelor's degree in Economics and Business Administration and is about to complete his master's studies in Finance at the University of Trento (UNITN). He got hooked on the crypto and blockchain world during the summer of 2017 and has not left it since then. He currently works as editor & SEO specialist at Cryptonomist, writes articles and invests, both in Blue Chip and early stage assets. Furthermore, he is working on his latest thesis project entitled: "A Study on crypto market Sentiment Analysis through Machine Learning algorithms in python."