Solana-96.Moving to Earn in the Bear Market

-- Q96. Move to Earn projects have been growing in popularity, especially on Solana after the explosion of StepN. -- Projects like Genopets and Stepn both won Solana Hackathon awards and are two of the most popular games in the field. -- Each of their own NFT ecosystems and two native tokens ($GMT and $GST for StepN, $GENE and $KI for Genopets). -- Compare these two projects in terms of users, token flows, and NFT volume. -- How can these tokens stay popular in bear market and build their own resilient gaming economies?

Methodology

For the number of wallets and the token flow we are look at the following contract for StepN and Genopets

  		mint = '6156vEwBw11hGF6rkr3um5RPNWfBCYBFH7XcbEF47erH' -- StepN
  		or mint = 'AFbX8oGjGpmVFywbVouvhQSRmiW2aR1mohfahi4Y2AdB' -- GST
  		or mint = '7i5KKsX2weiTkry7jA4ZwSuXGhs5eJBEjY8vVxR4pfRx' -- GMT
        mint = '6kiTkNc7nYAu8dLKjQFYPx3BqdzwagZGBUrcb7d4nbN5' -- KI
  		or mint = 'GENEtH5amGSi8kHAtQoezp1XEXwZJ8vcuePYnXdKrMYz' -- GENE
  		or mint = 'GknXZXR3Y84wgmDUxtsoR9FBHEZovqXFuDK2jczi1ydz' -- GENO

Number of Users

In terms of monthly active users, StepN is leading Genopets by miles
The only competition was in Mar 2022, where we saw 46.5K users for Genopets vs 60.3K users for StepN
The highest for stepN was 646K users in the month of May 2022.

NFT Volume

In terms of NFT Volume we look at the Number of NFT Mints, the number of Sales and Sale Volume after that.
- Genopets saw most of the mints Dec 2021, whereas stepN saw mints in Dec 2021 - Feb 2022.
In terms of number of NFT Sales Genopets dominates StepN, with highest NFT sales in Mar 2022 with 2.4K sales.
In terms of number of NFT Sale Volume Genopets dominates StepN as well, with highest NFT sales in Mar 2022 with 7.4K $SOL in sales.

How can these tokens stay popular in bear market and build their own resilient gaming economies?

As seen from the charts, both of these ecosystems show a declining interest and trend in the token, which is most likely due to falling value of the token and people not earning the same value of tokens as they used to earlier.
The only way to stay popular is incentivize users to hold and earn tokens even when they are less in value, by perhaps having random giveaways or contents to have token holders win some merchandise.

Token Flows

StepN dominated Genopets again with massive volume of token flow as compared to Genopets.
StepN saw 2.4B Tokens flowing in May 2022, whereas Genopets only saw about 1.38M.
The highest for Genopets was 1.6M tokens in Mar 2022.