Research assistant Shaun Blockingul Lee from CoinGecko conducted a study on the daily earnings of four M2E games from January 1, 2022 to May 29, 2023. It was found that STEPN, Genopet, and Sweatcoin all experienced a decline in earnings of over 90%, while Walken was the only game with a decline in earnings of less than 90%.
STEPN is the highest-earning Move to Earn game in 2022, with players earning $42.55 per day at its peak. Genopets, before repair fees are deducted, allows players to earn $12.13. Meanwhile, Walken users can earn $0.35 per day for a level 1 CAThlete, while Sweatcoin users can earn 1 SWEAT for every 1000 steps, up to a maximum of 5000 steps, generating income of $0.46.
In 2023, Genopets is currently the highest-earning M2E game, with players earning $0.26 per day. Walken is the second-highest earning M2E game, with users earning $0.1 or 3.6 WLKN tokens per day. After repair fees are deducted, STEPN users can earn about $0.06 per day. Sweatcoin generates the least income, with users currently earning about 1.3 SWEAT per day, equivalent to $0.008.
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Compared to 2022, STEPN’s daily earnings have decreased by 99.9% since its peak, while Genopet’s earnings have fallen by 96.8%, mainly due to KI prices dropping from $0.40 to $0.013. Sweatcoin’s earnings have also fallen by 98.3%, mainly due to increased difficulty and falling SWEAT prices. Walken is the only game with a decline in earnings of less than 90%, with a decrease of 71.4%.
Reference: https://www.coingecko.com/research/publications/move-to-earn-earnings
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