Move-to-earn web3 company STEPN has announced a surprise plan to open an office in Hong Kong.
STEPN’s decision rides against the waves of companies exiting the city due to strict Covid rules and a difficult regulatory environment.
STEPN’s co-founder Jerry Huang confirmed that the company would move its regional headquarters to government-owned Cyberport.
Cyberport is a tech hub which is home to more than 1,800 start-ups and companies.
Australia-based STEPN allows players to earn rewards for exercising through the purchase of sneaker NFTs.
The company hasn’t yet given a date for the move.