GMT (STEPN): What It Is, Uses and Risks

GMT is the governance token of STEPN, a Web3 app that combines fitness and crypto. Users who hold NFT Sneakers walk, jog or run outdoors and can earn tokens and NFTs through the app. The project describes GMT as having a limited supply of 6 billion tokens. STEPN also has a second token, GST, which the project describes as part of a dual-token system. Public sources do not fully explain GST's role, so this page focuses on GMT. STEPN is created by Find Satoshi Lab, which the project describes as an Australian-based fintech studio. The team says it won the Gaming Track of the 2021 Solana Ignition Hackathon and is part of the DeFi Alliance Gaming cohort. Launch date and consensus details were not, so they are not covered here. Some older search listings call the token Green Metaverse Token, which is the same asset under its earlier name.

According to the project, players buy GMT to burn it inside the STEPN app. Burning is used to unlock app features such as minting higher-quality Sneakers, upgrading higher-quality Gems, and taking part in governance voting. The app also lets players lease or trade Sneakers on an in-app Marketplace, and earnings sit in an in-app Wallet with a built-in Swap function. Some search material says burning reduces the overall supply over time. How much this happens depends on in-app activity, which readers should check for themselves rather than assume. A governance token gives holders a say in decisions, but how much weight that carries depends on the rules the project sets, and those rules can change.

As of 2026-11-05, the data supplied shows GMT at a price of about $0.0062, a market capitalisation of about $19.3 million and a fully diluted valuation of about $31.5 million. It ranked 869th by market cap at that time, with roughly $4.2 million traded over 24 hours. Circulating supply was about 3.11 billion tokens, total supply about 5.07 billion and maximum supply 6 billion, so roughly half the maximum is in circulation. The price was down about 9 percent over seven days and about 71 percent over one year at the time of writing. The all-time high was $4.11 on 2022-04-27, and the all-time low was about $0.00583 on 2026-08-18. These figures change constantly and are shown only as a snapshot, not as a guide to future prices.

GMT is not the native token of any blockchain. Public information shows it as issued on Solana, Polygon, Ethereum and BNB Chain. Each chain has its own version of the token, so a balance on one network is not automatically usable on another. Moving tokens between chains usually requires a bridge or a centralised exchange, and bridges have been targeted by attacks in the past. Before buying or moving GMT, confirm the contract address on the project's official channels, and make sure you send tokens only on the network that the wallet or exchange supports for that version. Sending tokens on the wrong network is a common and often permanent mistake.

GMT carries significant risks. Its price has fallen sharply from its 2022 high and has been volatile over short periods, and it can fall further. Its value depends heavily on whether people keep using the STEPN app, which is a single product rather than a diversified platform. Scam tokens, fake websites and phishing messages often copy popular project names, so check every link and contract address independently and never share a seed phrase or private key. Store tokens in a self-custody wallet you control, back up the recovery phrase offline, and keep only what you could afford to lose. This page is research, not financial advice, and it does not recommend buying or selling.