The head office of the STEPN project will be moved to the Cyberport business park in the Southern District of Hong Kong. This information in conversation with SCMPfitness app developer co-founder Jerry Huang confirmed.
Cyberport is home to 1,800 startups, including Animoca Brands.
According to the top manager, the decision arose after a conversation with the former chairman of the Cyberport business park, George Lam, about creating conditions for launching Web3 projects in Hong Kong.
The publication recalled that against the backdrop of serious covid restrictions imposed by the city authorities, many companies seek to leave the metropolis.
FTX founder Sam Bankman-Fried cited the strict lockdown as one of the reasons for moving the exchange's headquarters from Hong Kong to the Bahamas.
Another factor in the possible move from the financial center to SCMP was the concern about the influence of mainland China, where cryptocurrencies are prohibited.
Recall that in May, STEPN announced the termination of service for users from China.
Earlier, the Chinese authorities called NFTs and metaverses potential financial pyramids.
In the second quarter of 2022, STEPN generated $122.5 million in revenue from app usage fees.
Investor's legs are fed: how STEPN is trying to monetize running
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