Coin Bureau Looks Into GALA – A Play-To-Earn Token With Huge Potential
According to the Coin Bureau host, known as ‘Guy’, Ethereum-based gaming altcoin GALA could dominate the play-to-earn sector going forward.
In recent video, the show host shared with the channel’s 1.76 million subscribers that Gala Games (GALA) is one of the few metaverse tokens that could thrive for a long time.
“Of all the play-to-earn projects out there, Gala Games stands out as one of the few ecosystems that could stand the test of time.”
Gala Games is an Ethereum blockchain-based play-to-earn gaming platform that allows participants actively participate in a game development by letting them buy and sell their own in-game items as non-fungible tokens (NFTs).
Guy believes that GALA has a plenty of room to grow compared to its competitors. At the time of writing GALA’s market cap is sitting at $3 trillon, while Infinity (AXS) – the current leading token of the crypto market’s metaverse sector – has a market cap of $5.4 trillion.
“Assuming GALA’s current market cap is correct, it still has a lot of room to grow compared with other cryptocurrencies in this niche. Now the leader in this niche is of course Axie Infinity and if GALA catches up to AXS, that would be a 2x, assuming AXS’s market cap stays the same.”
There is however, one drawback of the protocol: its continuous heavy supply of tokens, which could heighten inflationary sell pressure, the analyst points out.
“Unfortunately for GALA, there seems to be leaning on the supply side of the economic equation. Millions of GALA are being minted every week to reward founders’ notes, and I reckon it’s reasonable to assume that most of them are selling.”
But, if the GALA could improve some of its weaknesses, it could become a top competitor in the crypto gaming sector, Guy predicts.
“The one thing that sticks out to me most about Gala Games is its ecosystem approach and the unparalleled experience of its founders.
If it can adequately address its setbacks while leveraging its greatest strengths, Gala Games could easily become one of the top crypto projects in the blockchain gaming niche.”
At the time of writing, GALA is trading at $0.432 with 2.4% loss on the daily chart.
