Do you still remember which Move to Earn games? Can you buy a cup of coffee with the daily earnings of STEP-N now?

In 2022, the cryptocurrency community is most enthusiastic about Move to Earn blockchain games, with the most well-known being STEPN, which can bring players tens of dollars in income in a day. However, such high-yield financial games are not sustainable in the long term. When the death spiral is activated, the coin price of the entire project will gradually collapse over time, and users' earnings will also rapidly decrease. Do you know how much income the most well-known blockchain games in the past can generate for users in a single day now?

The Glorious Past of Move to Earn

In a research report by CoinGecko, the top 4 most well-known Move to Earn blockchain games from last year were listed as follows:

1. STEPN
2. Genopets
3. Walken
4. Sweatcoin

Among these games, the most famous one was undoubtedly STEPN, with a monthly active user count that once surpassed 700,000, and when the GST price exceeded $8.5, it could bring users at least $42.55 in daily earnings, assuming they only owned a pair of the lowest rarity sports shoes.

Following that is Genopets, which after deducting the cost of repairing the pet habitat, generated approximately $8 in daily earnings.

As for Walken and Sweatcoin, their earnings were relatively lower, with daily earnings staying below $0.5.

Decline in Move to Earn Revenues

Although the high returns of Move to Earn attracted a large number of users in a short period, as the rate of user acquisition slowed down, the earnings gradually declined due to insufficient entry funds.

Today, the once synonymous with Move to Earn, STEPN, now has a minimum daily income of only $0.06, ranking third, barely enough for a cup of coffee, with a monthly active user count of only about 30,000.

The highest income now belongs to Genopets, but the daily earnings are only $0.26. The lowest is Sweatcoin, with daily earnings of $0.008.

According to CoinGecko's calculations, except for Walken, the revenues of the other 3 games have all declined by over 95% compared to their peak, with the most severe being a 99.9% decline for STEPN, all thanks to the GST price plummeting from $8.51 to the current $0.015. Walken's decline rate is 71.4%.

While these games often start out by promoting motivating users to go out and exercise, users are usually attracted by the high returns. When the earnings are not as good as before, the motivation to play for the sake of exercise diminishes.

Ultimately, with both user numbers and coin prices falling, they gradually lose the attention of the crypto community.