solana based event-reward app STEPN has partnered with global sportswear brand Adidas to introduce a special collection of non-fungible token (NFT) sneakers called STEPN x adidas Genesis Sneakers.
The collection will be available on the MOOAR marketplace starting Wednesday and includes digital and physical rewards.
The STEPM x adidas Genesis Sneakers collection consists of 1,000 unique NFTs. While 200 NFTs of this collection will be offered to STEPN users with early access, the remaining 790 NFTs will be offered to the public through a raffle.
The last 10 NFTs will be used for marketing purposes.
Each NFT is priced at 10,000 GST, or approximately $2,500, and will be sold in two phases to promote fair distribution.
STEPN’s activity-reward app encourages NFT holders to walk and run by rewarding them with the gaming currency called GST, which is used within the app.
GST is STEPN’s in-game token and resides on the Solana blockchain. GST is available on other chains such as Binance’s BNB chain, but its Solana-based token has the highest market cap at $39 million.
The GST on Solana initially rose to $0.039 after the partnership was announced, but has since dropped to $0.34. According to CoinGecko data, the token’s all-time high is $8.51.
GMT, the project’s governance token, dropped 11% to $0.23 in the last 24 hours.
