In keeping with stories from Chinese language media, as much as 100 individuals related to the STEPN app have been affected by worker layoffs. The once-popular app beforehand boasted over 700,000 month-to-month customers however is now struggling at 52,000, with ongoing rumours of a possible shutdown.
STEPN is a well-liked web3-focused app that permits individuals to earn NFTs and cryptocurrency by jogging, having a whole lot of moderators and ambassadors in its roster. Now, stories counsel that the app has been dropping customers and has now resorted to firing a few of these moderators and ambassadors. When the app first went dwell final 12 months, it made headlines for its jog-to-earn options and its encouragement of train amongst its customers.
Nevertheless, a STEPN spokesperson acknowledged that “The truth is that STEPN has parted methods with volunteer MODs who haven’t been lively in the previous few weeks and months. Relating to our employees, STEPN is actively hiring for a number of totally different roles throughout the firm.”
Solely including gasoline to the hearth is a current publish from Discover Satoshi Labs, STEPN’s father or mother firm. The publish hinted at plans to develop its empire past simply the play-to-earn jogging app.
“STEPN was our first challenge … Now it’s time to develop the Discover Satoshi Lab household,” the publish, printed October 11, 2022, mentioned.
Even with its preliminary momentum, it appears that evidently the app has been closely affected by the continued crypto winter that has precipitated even business heavyweights to see dips in earnings and engagement from clients.
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Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on websites like BTCmanager and Blockchain Reporter. She has a level in Company Communications.