Stepn Parent Company Launches NFT Marketplace

Find Satoshi Lab, the parent company of the move-to-earn application Stepn, is launching MOOAR, a membership-based, multi-chain NFT marketplace. The marketplace aims to establish a self-sustaining ecosystem alongside Stepn and DOOAR, a decentralized exchange (DEX) built on Solana.

MOOAR users will have the opportunity to purchase sneakers required for the Stepn app and can also create and sell their own NFT collections on the platform. The three apps will work collaboratively to support each other, according to the company.

The platform is launching with zero platform fees and no optional royalties for creators. This approach differs from other NFT platforms that have recently dropped royalty requirements. Find Satoshi Lab believes that supporting artists and fairly compensating creators is crucial for the long-term value of NFTs. Creators on MOOAR can set royalty fees ranging from 0.5% to 10%, with a default rate of 2%.

Stepn, the flagship product of Find Satoshi Lab, generated $122.5 million in Q2 profits in 2021. The company launched DOOAR in June, which currently boasts the highest number of daily active wallets among Solana-based decentralized exchanges, according to data from Dune Analytics.

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