GMT Soars as STEPN Integrates Apple Pay for in-App Purchases

Web3 lifestyle app STEPN announced on Monday that it has integrated Apple Pay services into its application, allowing users to make in-app purchases without leaving the platform. Following the news, STEPN’s governance token GMT soared over 8% before relinquishing most of its gains.

In a tweet announcing the integration, STEPN noted that it had broken the barrier to Web3 entry. The Hong Kong regionally headquartered web3 platform is the first move-to-earn non-fungible token (NFT) game powered by the Solana blockchain. The game rewards users for doing basic daily activities like walking, running, and jogging, among others.

In-app Asset Purchase

STEPN also stated that users can now buy the network’s assets from its application without being forced to do so externally. Furthermore, customers can now buy and trade other digital assets with regular credit and debit cards linked to Apple Pay.

Speaking to the press, STEPN’s Chief Operating Officer (COO), Shiti Manghani, stated that the move is a “very, very big step.” He alleged he had not seen anything like that in the crypto space, and it is one of the biggest things happening in the digital asset industry.

Users are now able to connect their credit card to Apple Pay and purchase NFT sneakers, which are mandatory for playing the game. Non-crypto wallet owners can also utilize Apple Pay as a fiat payment method to make in-app purchases.

Respite for Dwindling Users?

Manghani noted that it hopes the partnership with Apple will boost it’s declining users. STEPN, despite millions of downloads, has seen a significant fall in its monthly app users; its users recently declined to just 500,000.

Jerry Huang, the co-founder of Find Satoshi Labs (FSL), the firm backing STEPN, also insists that using both Web2 and Web3 should boost its users and attract new members to the ecosystem.

“With this Apple Pay integration, we are making the journey much more seamless, removing barriers to entry for all who want to move-to-earn, and ensuring that the web3 space reaches a level of maturity it requires in order to go mainstream,” Huang stated.

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