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STEPN was founded in August 2021 by Australian blockchain entrepreneur Yawn Rong. Mr Rong has previously founded Crypto SA, an Australian crypto and pro-regulatory auditor, and has served as an ambassador for Algorand and as an industry representative of the South Australian Blockchain Association.

He founded STEPN with his neighbor and colleague Jerry Huang, a game developer and former founder of Falafel Games.

STEPN raised a significant USD 5 million (Rp. 77.7 billion) seed round from some of the largest crypto venture capital firms such as Sequoia Capital, Folius Ventures, Solana Capital, Alameda Research, 6th Man Ventures, DeFi Alliance and several others.

Some prominent angel investors include Santiago R Santos and Asia Partner of Republic Zhen Cao.

What Makes STEPN Unique?

STEPN aspires to disrupt the fitness industry in several ways. First, it incentivizes users to live healthier lifestyles through a direct token reward mechanism.

After downloading the app and creating a wallet, users can purchase a pair of NFT sneakers to start earning money in the game's Solo Mode.

By running or walking, they can earn Green Satoshi Tokens (GST). Different types of sneakers return GST at different rates the higher the efficiency attribute of the sneaker, the more GST per minute the user can earn.

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