London – 18th May 2022 – The move-to earn Web3 running app STEPN has signposted its ambition to support Earth Day goals to invest in our planet and to act (boldly), innovate (broadly), and implement (equitably). STEPN will make a monthly commitment of $100,000 towards carbon removal among a range of initiatives to improve the planet.
STEPN aims to harness the power of Web 3 to inspire millions towards organic movement and achieve carbon neutrality. To address their climate goals, STEPN has made an ongoing commitment to use a portion of their profits to purchase Carbon Removal Credits on the blockchain via Nori. Annually, this would mean the reduction of about 69,565 tonnes of carbon from our planet.
Yawn Rong, co-founder at STEPN commented: “STEPN’s mission of pioneering a climate-positive Web3 space aligns with the Earth Day ethos. This technology and community power behind Web3 will be used to generate real-world benefits, from healthier lifestyles to reversing climate change. We whole-heartedly believe in harnessing the power of blockchain, Game-Fi and Social-Fi for the betterment of global health and sustainability. Working with Nori will allow us to lead the charge and be the change we want to see in our world.”
STEPN aims to amplify this through governance voting on profit distribution, with as much as 70% of the game’s profits being funnelled into carbon offsetting initiatives. As its user base grows, STEPN aims to continue adding more carbon credit offerings and taking greater steps towards combating climate change.
Jerry Huang, co-founder at STEPN added: “We want to enable our users to each feel a sense of ownership towards this initiative. As the world pivots to making greener choices, we believe this is the first of many steps towards sustaining a conducive planet for future generations.”
How Nori Works
Nori is a blockchain-backed Carbon Removal Marketplace that connects real-world carbon removal suppliers to climate-forward companies and individuals seeking to negate their carbon footprint.
Currently, Nori sources carbon removals by working with regenerative farmers who are sequestering and storing carbon dioxide in their soils. Each carbon removal tonne purchased incentivizes more farmers to adopt climate-smart practices that restore Earth’s soils.
Alexsandra Guerra, Nori Cofounder and Director of Corporate Development commented: “Climate change is a global issue, and STEPN is taking a leadership role to be a primary mover in reversing climate change with its monthly commitment of $100,000 (or $1.2M annually) to pay for carbon removal through Nori. I think that in a short amount of time the world will soon see that the STEPNs of the world (the innovators in Web3) will be the ones solving the climate crisis by removing more carbon from the atmosphere that they’re emitting. Others are certain to follow their lead.”
STEPN seeks to shine a light on the massive good that Web3 brings to the table – by propelling millions towards a more active lifestyle while simultaneously showing the world that a project from humble beginnings can make huge strides in the global effort to combat climate change.
Walking instead of commuting leads to a significant reduction in GHG emissions. By incentivising millions to walk, STEPN aims to achieve a notable impact in global emissions. Once an individual is aware of the good that he or she does for the environment, they would then start to pay more attention and increase their efforts towards combating climate change.
Participating in STEPN’s Carbon Offsetting scheme provides positive value in knowing that one has contributed towards saving our planet, which then subsequently fuels determination to reduce personal emissions. Overall, STEPN users are active participants in both channels, resulting in a strong personal environmental awareness.
The vision of STEPN is clear – using Social-Fi aspects and building on Web3 to nudge millions towards living a healthier lifestyle, all while combating global warming. The two objectives are intertwined and provide a positive feedback loop.
STEPN is a Web3 lifestyle application, with elements of SocialFi and GameFi, that rewards users with crypto for moving (walking, jogging, or running) outside. To participate, users have to download the STEPN app, purchase an NFT, and then move outdoors to earn tokens. Users are able to spend their earnings within the STEPN ecosystem or swap it out to an external account and cash out for profit.