Which model has been more beneficial to you, when you think of investing time and resources to earn a passive income?
Neither of the model is actually not a passive income, because you need to excel an effort to any of that model to get significant income.
Move to earn doesn't seem beneficial from the financial aspect in my opinion, because the coin you're earning on most of the platform are very little that it would literally take you a while to accumulate enough coins to qualify for the minimum withdrawal.
On the other hand, play to earn model will require you to at least spend a few hours everyday to keep the earning mechanism running. You will also need to spend money for you to maximize the earning potential and not to mention that you also need to compete with other players.
Therefore, both needs extra time and effort that would hinder your time with your business or 9 to 5 job.
Some play to earn could be played idling and then I heard some of them had like a mining and staking feature. All of those are an example of passive income, while move to earn is obviously not like that because the main goal for us to earn is if we are only actively moving. I saw lots of comments that someone can make a living and earn a very good amount of profit from some play-to-earn games but I don't think move-to-earn can be like that because one can't just move unlimitedly. It's ridiculous even if you intentionally did it only for the sake of earning a reward. I'm not also sure if this can be considered as a side hustle but maybe this can only be done for fun.