According to Chinese media reports, up to 100 people STEPN The app is affected by employee layoffs. The once-popular app used to boast more than 700,000 monthly users, but now he’s struggling at 52,000, and rumors of a possible shutdown persist.
STEPN is a popular web3 focused app that allows people to Earn NFTs When Cryptocurrency by jogging, with hundreds of moderators and ambassadors on its roster. Now, reports say the app is losing users and is taking steps to lay off some of these moderators and ambassadors. When the app was first launched last year, it attracted attention for its ability to make money by jogging and for encouraging exercise among its users.
However, a STEPN spokesperson said:In reality, STEPN parted ways with a volunteer mod that has been inactive for weeks or months. As for staff, STEPN actively recruits for several different roles within the company. “
Just Adding Fuel To The Fire Is A Recent Post Find Satoshi Laboratory, the parent company of STEPN. The post hinted at plans to expand its empire beyond a jogging app where you can earn money by playing.
“STEPN was our first project… Now is the time to expand the Find Satoshi Lab family‘, said a post published on October 11, 2022.
Even with its initial momentum, the app has been hit hard by the ongoing crypto winter, with even the industry heavyweights appearing to see lower revenue and engagement from customers.
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Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.