TON Jumps Following Smartphone Partnership Announcement; StepN Announces New Airdrop

Daily Top Performer — The Open Network (TON)

The SPX index is down 0.95%, the market's expectations have adjusted to foresee only two rate cuts this year, instead of three, due to the hot March inflation data. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 1.49% and 0.05%, respectively in the past 24 hours.

Today’s outperformer is TON, which jumped 6.78% after OysterLabs announced the Universal Basic Smartphone (UBS).

The Open Network (TON), launched in 2018, a decentralized Layer 1 blockchain that utilizes a proof of stake (PoS) consensus model for transaction validation and payment settlement. Oyster Labs unveiled the Universal Basic Smartphone (UBS) at the Hong Kong Web3 Carnival, a blockchain-integrated mobile device designed to promote digital equity through the TON ecosystem. Aimed at addressing the lack of smartphone access among 49% of the global population, UBS emphasizes user privacy, rewarding data sharing with Web2 cashback and Web3 token rewards. With a pre-sale price of $99.99 plus a $30 shipping fee, the phone requires a TON wallet address for purchase, though details on shipping and restrictions are yet to be clarified. Each UBS purchase includes a Genesis NFT, opportunities for daily data dividends, up to 30% cashback at over 14,000 stores, and crypto cashback on trading and gas fees. Additionally, it features the Universal dApp Store with access to over 600 TON ecosystem dApps and comes pre-loaded with the Universal App Suite, including the OysterEarn app for further rewards, positioning the UBS as a pivotal tool in bridging the digital divide and seamlessly integrating users into the digital economy.

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Talk of the Town:

The SuiPlay0x1 is an upcoming handheld gaming device integrating the Sui blockchain, aimed at offering native Web3 capabilities alongside traditional PC gaming. Set for a global release in 2025, it promises seamless integration of crypto games and conventional titles from various PC storefronts, with the potential to play games from other blockchains as well. The device will operate on Playtron OS, a Linux-based system designed for an optimized gaming experience and easy Web3 feature integration. Sui's integration on the OS account level connects users' activities directly to the blockchain, offering unique functionalities. Incentives, potentially including subsidized pricing and token airdrops, are planned to attract users, drawing lessons from the Solana Saga smartphone's strategy to build a dedicated community. Playtron and Mysten Labs, behind the initiative, aim to make this device a gateway for broader engagement with cryptocurrency through gaming.

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Macro Events to Watch:

In February 2024, the U.S. Producer Price Index (PPI) for final demand saw a 0.6% month-over-month increase, the largest since August, exceeding the expected 0.3%. This rise was led by a 1.2% increase in goods prices, fueled by a 4.4% jump in energy costs and a 1% rise in food prices. Service costs rose by 0.3%, with transportation and warehousing services up by 0.9%, while trade services saw a 0.3% decrease. The core PPI, excluding food and energy, grew by 0.3%, a slowdown from January's 0.5% but above the 0.2% forecast. Yearly, the PPI accelerated to 1.6% from January's 0.9%, surpassing the 1.1% forecast.

Airdrop to Watch:

StepN, a move-to-earn lifestyle app on the Solana blockchain, announced a $30 million airdrop of 100 million FSL points to its users, redeemable for GMT tokens or for use in upcoming NFT mints and exclusive prizes. The airdrop, aimed as a gratitude gesture to loyal community members, will continue until the end of April. Users can claim their rewards by registering for an FSL ID, which also allows them to participate in the StepN ecosystem, including the NFT marketplace Mooar and the strategy game Gas Hero. StepN, launched by FSL in 2021, rewards users with GMT tokens for physical activities like walking, jogging, or running, facilitated through the purchase of virtual Sneaker NFTs. The app, with over 5 million users, allows earning, minting, leasing, and selling of sneakers, alongside in-app token management and swapping capabilities.

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