Question:

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?

Overview of investigation:

In this essay the performance and application of two of the top Move to Earn projects on Solana have been established for the past 75 days.

Each of the projects has two tokens and NFT collection. The investigation contains the analysis of these assets related to each Move to Earn projects.

Approach:

• Flow of Genopets tokens

  from solana.core.fact_transfers

  and mint ='GENEtH5amGSi8kHAtQoezp1XEXwZJ8vcuePYnXdKrMYz' -- $GENE token

  and mint='kiTkNc7nYAu8dLKjQFYPx3BqdzwagZGBUrcb7d4nbN5' -- $KI token

• Flow of StepN tokens

  from solana.fact_transfers

  where mint = '7i5KKsX2weiTkry7jA4ZwSuXGhs5eJBEjY8vVxR4pfRx' -- $GMT token

  and mint = 'AFbX8oGjGpmVFywbVouvhQSRmiW2aR1mohfahi4Y2AdB' -- $GST token

• NFT sale of Genopets

  from flipside_prod_db.solana.fact_nft_sales where mint in (select address from flipside_prod_db.solana.dim_labels where LABEL= 'genopets terraform seeds')

• NFT sale of StepN

  from flipside_prod_db.solana.fact_nft_sales where mint in (select ADDRESS from flipside_prod_db.solana.dim_labels where label ilike '%StepN%' and LABEL_TYPE='nft')

Results:

Key findings Genopets:

1. The volume of $GENE tokens flow has been increased over time and reached its maximum level on July 7 with more than 181K tokens.
2. The Genopet users have been decreased since May 19 after experiencing its maximum with 365 unique wallets.
3. The Flow of $KI token was high on June 20 and reduced after that date.
4. The NFT sale and purchasers reached their highest values on May 5 with 613.17 SOL as sale volume and 264 unique purchasers.
5. The trend of sale activity of Genopets NFT has been reduced over time but has some spikes in special dates like June 7.

Key findings StepN:

Now lets talk about the performance of StepN tokens and NFTs.

1. The flow of $GMT has been reduced over time in the past 75 days. Also the highest volume occurred on April 29 with more than 14 million tokens.
2. The $GST token flow has increasing movement as can be seen in the graph. Also, on June 14 it reached highest volume by 31.34 million tokens.
3. The StepN users decreased over time specially after reducing the price of GMT and market downturn.
4. The NFT related to the StepN has little sale activity on marketplaces and over 91 SOL sale volume occurred on May 5.