STEPN Partners With The Giving Block To Enable Crypto Donations For Nonprofits

STEPN, a crypto web3 app that enables people to earn rewards for exercising, announced a partnership with The Giving Block. According to a press release shared with Bitcoinist, the partners have enabled donations in the app’s native token GMT.

The cooperation will focus on non-profit organizations that will be able to receive GMT via The Giving Block platform. Crypto donors will have access to thousands of non-profit organizations and other tools to donate GMT and have an impact on several causes, such as The Giving Block’s Impact Index Funds.

This donation tool allows people to contribute to multiple nonprofits focused on specific goals. In that sense, the Impact Index Funds have been created to allow donors to support many charities with a single donation and remove friction from the process of transferring funds to several entities, selecting multiple organizations, and more.

The Giving Block allows crypto donors to support nonprofits with the goal to positively impact economic development, arts and culture, children and youth, education, environment, health and medicine, mental health, military, technology and science, and much more. Yawn Rong, CEO, and Co-Founder of STEPN said:

At STEPN, we emphasize bettering the global community, and acted on this by gamifying a healthy lifestyle through STEPN’s move and earn model. We are dedicated to supporting and fostering growth within our community and partnering with The Giving Block allows our users to impact a larger group of people, expanding our scope beyond the digital asset ecosystem. STEPN is excited to partner with The Giving Block and we look forward to leveraging crypto to support those in need through this philanthropic collaboration.

STEPN x The Giving Block

In line with our efforts to give back to the community, we are pleased to announce a major partnership with @TheGivingBlock, a notable philanthropic platform that pairs Non-Profit Organisations (NPOs) with crypto donors. [1/4] pic.twitter.com/PqPv6DCOXn

— STEPN | Public Beta Phase V (@Stepnofficial) September 28, 2022 

STEPN Gains Traction, GMT Promotes Healthy Lifestyle?

According to the release, the partnership has the dual purpose of providing GMT holders with an additional use case to have a real impact on the world while promoting an “active lifestyle”. The cooperation will be promoted under a campaign called “Caring with Crypto”.

In addition, The Giving Block announced that any donations made to its Impact Index Funds from the users will be matched in a 1:1 parity by its parent company Shift4. The company will contribute to The Giving Block’s Impact Index Funds with GMT. Alex Wilson, Co-Founder of The Giving Block added:

Over the last year, STEPN has changed the way that people think about active living. We’re excited to give people the opportunity to take the tokens they have earned and donate them to the causes they care about.

The “Caring with Crypto” initiative will be live until December 31st, 2022, or until donations reached $10 million. At the time of writing, GMT’s price trades at $0.6 with a 6% loss over the last 24 hours. The cryptocurrency has managed to trade against the general sentiment in the crypto market recording an 11% profit over the last week.

GMT’s price sees gains on the 4-hour chart following the announcement of a partnership with The Giving Block. Source: GMTUSDT Tradingview