Fundraising FoxSTEPN OG
11 known investors
Find your way into STEPN OG
STEPN is a Web3 lifestyle app that rewards users for physical movement, letting people equipped with in-app NFT sneakers earn tokens by walking, jogging, and running outdoors. It combines fitness tracking with crypto-based rewards, NFTs, and its own tokenomics.
Also known as FindSatoshi Lab Limited · FSL · StepN · STEPN · STEPN OG
Founders & leadership
Investors · 11
How we know: Assembly Partners's portfolio page · Not right? Tell us
How we know: Emoote's portfolio page · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
How we know: Graviton Fund's portfolio page · Not right? Tell us
How we know: Morningstar Ventures's portfolio page · Not right? Tell us
How we know: Solar Eco Fund's portfolio page · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
Company profile
researched Aug 2026STEPN is a Web3 lifestyle application that rewards users for physical movement. Users equipped with STEPN NFT sneakers can earn by walking, jogging and running outdoors, with the app tracking aggregate activity metrics such as distance run, calories burned and carbon offset. The product is presented alongside a whitepaper and tokenomics documentation, an in-app/marketplace layer for trading NFT assets, merchandise, and a beginner-oriented onboarding guide covering activation codes and wallets.
The app now sits within a broader ecosystem operated by FSL, which also includes a newer title, STEPN GO, the FSL Game Hub, GMT Pay and a GMT DAO governance mechanism. The original app is branded "STEPN OG" to distinguish it from STEPN GO. Company communications are organised as monthly "townhall" recaps that cover in-app events, sneaker and gem updates, leaderboards, blockchain realm migration, account-integrity enforcement against bots, and partnership announcements.
Business model
The app is built around NFT sneakers and an associated token economy: users acquire in-app NFT assets, which can be traded on a marketplace, and earn tokens through tracked outdoor movement. Related ecosystem elements include GMT Pay and GMT DAO governance, plus branded merchandise.
Traction
Publicly reported activity includes leaderboard launches, seasonal in-app events, a Guinness World Records effort in 2024, GMT DAO launch and voting, and the launch of the FSL Game Hub in early 2025.
Latest developments
2025 updates described on the company site include the launch of STEPN Leaderboards, an Uncommon Sneakers update for STEPN GO, the FSL Game Hub launch, GMT Pay launch, a GMT DAO voting process, account bans for integrity and fair play, a KDDI partnership, a Silencio collaboration, a STEPN activation in Argentina, and presence at Token2049. In late 2024 the company completed a POL realm migration, paused STEPN GO sneaker sales, ran an adidas Ultraboost 5 physical drop and rebranded the FSL ecosystem.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Positioned as the original ("OG") app in the FSL ecosystem of move-to-earn and Web3 consumer products, alongside STEPN GO, the FSL Game Hub and GMT Pay.
Technology
Mobile Web3 application combining outdoor movement tracking (distance, calories) with NFT sneaker assets and token rewards; assets migrated to the POL realm in 2024, and the ecosystem includes a game hub and a crypto payment product, GMT Pay.
Go-to-market
Direct mobile app downloads supported by community townhall recaps, in-app seasonal events and competitions, leaderboards, offline events, merchandise, and co-branded partnerships with consumer and telecom brands.
Consumers who walk, jog or run outdoors and are willing to use crypto wallets and NFT assets; onboarding guidance is published in English and Japanese.
Geography
Global consumer app with localized guidance in Japanese, regional activity noted in Argentina, and partnerships including Japanese telecom operator KDDI.
History
The site's guides date back to April 2022, and monthly recaps document the product's evolution through 2024 and 2025, including the introduction of STEPN GO (beta testing in 2024), the FSL ecosystem rebrand in December 2024 and the FSL Game Hub launch in early 2025.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 19
launches, deals, and filingsMay 2025 recap covers the GMT Pay launch, a STEPN activation in Argentina, an Energy War event and Token2049 highlights.
April 2025 recap reports a KDDI x STEPN partnership and a Silencio x STEPN collaboration, plus the launch of STEPN Leaderboards and account bans for integrity and fair play.
February 2025 recap covers the FSL Game Hub launch, GMT Pay, GMT DAO voting, the STEPN Leaderboard and STEPN GO Uncommon Sneakers.
February recap covers the FSL Game Hub launch, STEPN GO uncommon sneakers, GMT Pay, GMT DAO voting and the STEPN leaderboard.
December 2024 recap covers the POL realm migration, an FSL ecosystem rebrand, a Resilience Gem update, bot account bans and an adidas physical Ultraboost 5 drop.
December recap covers a physical adidas Ultraboost 5 drop, a successful Guinness World Records attempt, migration to the POL realm, a resilience gem update, bot account bans and an FSL ecosystem rebrand.
November 2024 recap notes a GUINNESS WORLD RECORDS partnership and Snoop Dogg partnership highlights.
October 2024 recap highlights partnerships with adidas and Snoop Dogg alongside the STEPN GO gift bag feature.
Monthly recap reports STEPN GO beta testing, Haus system insights and the STEPN GO roadmap.
Beta testing of STEPN GO began, alongside publication of the STEPN GO roadmap and Haus system details.
STEPN integrated Apple Pay, described as a first for move-to-earn NFTs.
STEPN received a round of strategic investment from Binance; Binance Labs' investment was dated 13 April 2022.
The move-to-earn app launched publicly two months after the hackathon; growth was fast enough that the team capped daily registrations.
Closed a $5 million seed round from Sequoia Capital and others after pitching more than 100 investors.
$5M source ↗
The app was presented at a Solana hackathon in October, finished fourth, and the exposure brought in its first batch of beta users.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- STEPN OGstepn.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does STEPN OG do?
- STEPN is a Web3 lifestyle app whose users earn token rewards by walking, jogging and running outdoors with NFT sneakers.
- Who founded STEPN OG?
- STEPN OG was founded by Jerry H..
- Who are STEPN OG's investors?
- STEPN OG's investors include Archangel Ventures, Assembly Partners, Emoote, Fermion, Graviton Fund, Lemniscap, Morningstar Ventures, Solar Eco Fund and 3 more.