NFT Gaming App Stepn to Block Mainland Users Due to Chinese Crypto Regulations
Anti-crypto rules in China have apparently caused the non-fungible token (NFT) game Stepn to ban mainland users as of July 15. Stepn’s in-game coin was said to have plummeted by 38% shortly after the announcement. Beginning July 15, mainland Chinese users of the NFT gaming game Stepn will be unable to access the app, according to the makers. When Stepn ceases providing GPS and IP location services, the blockage on users from this region will go into force. Despite announcing intentions to discontinue servicing mainland customers, the development team stated in a tweet that they had done no commerce with gamers from the region.
In addition to the May 26 announcement, the Stepn team stated that any new information on the blockage will be communicated to users via social media, email, and in-app alerts. Meanwhile, the South China Morning Post reported that Stepn’s in-game coin had dropped by 38% as a result of the revelation. According to the article, Stepn became the top trending search phrase on Weibo, China’s social media network, immediately after the announcement. Stepn, often known as the “move-to-earn” game, allows users to exchange NFT trainers and the in-game cryptocurrency (GMT) by walking or jogging in the real world. According to the article, in-game cryptocurrency profits are either converted to cash or other crypto assets. Nonetheless, China’s increasing crackdown on crypto-related enterprises appears to have compelled the development team to take efforts to guarantee Stepn conforms with the country’s rules.