Stepn launches NFT collab with Atlético de Madrid
Solana based Web3 lifestyle app, Stepn has teamed up with Spanish soccer team Atlético de Madrid and all-in-one crypto exchange Whalefin to release a new collection of 1,001 soccer boot (sneakers) NFTs on Stepn’s ‘move-to-earn’ running app.
The digital sneakers offer increased utility for both Stepn users and soccer fans. The sneakers are compatible with the app’s run-to-earn game and grant exclusive access to real-life autographed Atlético de Madrid merchandise, tickets to see the team play live at the Cívitas Metropolitano , and WhaleFin airdrops.
The NFTs are designed based on the 119-year old football club's legacy, trophies, stadiums and players.
Each of the 1,001 NFTs falls into one of the three categories: Common, Uncommon, or Rare. The 850 Common boots are based on the club’s national and international titles, the 140 Uncommon boots are based on the stadiums, and the 11 Rare boots are a reference to the starting lineup.
All 1,001 sneakers are of the ‘Genesis’ variety, meaning that buyers will get exclusive rewards within the Stepn app and Whalefin’s app.
Every NFT owner is automatically entered into a draw for tickets to a match at Atlético de Madrid’s home stadium, as well as holiday and hotel accommodation.
Holders of uncommon boots will receive the club’s official shirt, while holders of rare boots will receive autographed shirts.
Chief Commercial Officer at Atlético de Madrid Íñigo Aznar said, ‘This strategic alliance with WhaleFin opens a new world of possibilities for the club and our fans worldwide. Exploring new ways to connect with our fan base and with communities like STEPN allows us to discover innovative possibilities offered by Web3.’
The collaboration is significant because 10% of the proceeds from the club’s sales of the sneakers will go to the Atlético de Madrid Foundation to fund International Schools.
Mable Jiang, Chief Revenue Officer of STEPN, stated, 'Through this collaboration, we aim to connect the world of physical activity with the Web3 space by providing tangible rewards in the real world. The launch of this collection is a key step in our journey to show the value of collecting and the usefulness of NFTs and we see great potential in helping partners connect with their communities through our products.’
Stepn is a leading fitness application, which rewards players with in-game cryptocurrency for walking, running, or jogging. Within the first six months of its launch, it has already attracted 3 million active users.
As the price of Stepn’s in-game currency Green Satoshi Tokens (GST) rising, the entry barrier to the game was also high. The NFT sneakers required for gameplay have a floor price of 1.58 SOL, worth about US$ 65.
Users can also make their own NFTs sneakers with GST tokens, which they can rent out or sell on secondary markets.
Stepn said in July of this year that it planned to use 5% of its Q2 revenue (US$6.125 million) to buy back and burn some of its circulating supply of GMT governance tokens, which was close to 600 million at the time. There are 263.6 million GMT tokens in circulation right now.