NFT Gaming App Stepn to Block Mainland Users after Chinese Crypto Regulations

NFT Gaming App Stepn to Block Mainland Users after Chinese Crypto Regulations

Starting July 15, China mainland users of the NFT gaming app Stepn will not be able to use the app, the developers have said. When Stepn stops providing GPS and IP location services, the blockade on users from this region will set to be effective.

Despite revealing their plans to stop serving users from the mainland users, the developer team insisted in a tweet that they had not engaged in any business with players from the region. The team tweeted:

We apologize for the inconvenience and thank you for your understanding. STEPN has not engaged in any business in mainland China since its establishment and has not provided download channels. STEPN has always attached great importance to compliance obligations and always strictly abides by the relevant requirements of local regulatory agencies.

On top of the May 26 announcement, the Stepn team said they will inform users of any new information relating to the blockade via social media, email, and in-app alerts.

Additionally, Stepn’s in-game cryptocurrency had plunged by 38% following the announcement according to a report in the South China Morning Post . Stepn had become the top trending search term on Weibo, shortly after the announcement was made, China’s social media platform.

Stepn enables users to trade the so-called NFT trainers as well as the in-game cryptocurrency (GMT) by either walking or running in the real world, labelled as the “move-to-earn” game. The report added that the in-game cryptocurrency earnings are either converted into cash or other crypto assets.

The developer team has taken steps that ensure Stepn complies with China’s ongoing crackdown against crypto-related businesses.

The post NFT Gaming App Stepn to Block Mainland Users after Chinese Crypto Regulations appeared first on Cryptoverze.

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