STEPN announced on Earth Day, April 22, that it has purchased $100,000 worth of carbon removal credits through Nori, a marketplace for CO2 reduction.
This amount will reduce 5,797.1 tons of CO2, and STEPN will continue to fund the project on an ongoing monthly basis, with distribution to be determined by a governance vote.
Jerry Huang, the co-founder of STEPN, commented.
As STEPN’s user base grows, we hope to continue to increase the number of carbon credits purchased and strengthen our efforts to combat climate change.
STEPN has continuously funded with a portion of its profits, an amount that could reduce 69,565 tons of CO2 from the planet each year.
With its mission to “fight climate change with Web3,” the Solana blockchain it is building uses a less power-consuming mechanism.
In March, the company conducted an IEO of GMT, a previously unimplemented governance token. After being listed, it is now also available on Binance.
We also conducted our first GMT burn on April 2.
What is STEPN?
STEPN is a Web3 lifestyle app that incorporates elements of SocialFi and GameFi.
You can “Move-to-Earn” by purchasing a pair of NFT sneakers and linking them to your GPS.
Since the beta version was released in December 2021, the app’s popularity has not stopped, and the price of the sneakers has skyrocketed to at least $100,000.
You can also use your earned token GST to increase the status of your sneakers and create new sneakers.
What is Nori?
Nori is a carbon dioxide removal platform built on the Ethereum network.
Founded in 2017, it raised $1.3M in funding in 2020; it launched its primary net token, NORI, in spring 2022.
Official website: https://stepn.com/litePaper
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STEPN Begins Purchasing Carbon Removal Credits Worth $100,000View