The head office of the STEPN project will be moved to the Cyberport Business Park in the South District of Hong Kong. Jerry Huang, co-founder of the fitness app developer, confirmed this to SCMP.
1,800 startups are based in Cyberport, 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 reminded that against the backdrop of strict covid- restrictions, many companies are seeking to leave the metropolis.
FTX founder Sam Bankman-Fried cited strict quarantine measures as one of the reasons for moving FTX headquarters from Hong Kong to the Bahamas.
Another factor for a possible the move from the financial center to SCMP highlighted concerns about the influence of mainland China, where cryptocurrencies are banned.
Recall that in May, STEPN announced the termination of servicing users from China.
Earlier, the Chinese authorities called NFTs and metaverses potential financial pyramids.
According to the results of the second quarter of 2022, STEPN made a profit of $122 .5 million in app usage fees.
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