The host of crypto channel Coin Bureau says it has identified a gaming altcoin on Ethereum that it believes could dominate the sector.
In one Video The new, anonymous analyst Guy claims that Gala Games (GALA) is one of the few Metaverse tokens that will be around for a long time.
“Of all the existing play-to-earn projects, Gala Games is one of the few that can stand the test of time.”
Gala Games is a blockchain-based play-to-earn gaming platform built on top of Ethereum that enables players to actively participate in game development by buying and selling in-game items in NFT format.
According to Guy, this cryptocurrency has a lot of room to grow compared to its competitors, and if its market cap doubled it would match Axie Infinity (AXS), currently the leading token in the metaverse sector of the cryptocurrency market.
“Assuming that GALA’s current market capitalization is the norm, it still has a lot of room to grow compared to other cryptocurrencies in this niche. The leading project in the segment is now, of course, Axie Infinity. Therefore, GALA only needs to grow 2x to catch up with AXS, provided that AXS ‘market capitalization stays the same.
However, a disadvantage of the protocol is the excessive supply of tokens, said the moderator. This can increase selling pressure on inflation.
“Unfortunately for GALA it seems that the economic equation is geared towards the supply side. Millions are minted by GALA every week to reward founders, and I think it’s reasonable to assume that most of them will be sold. ”
Guy commented that if the project can fix some vulnerabilities, it will become a leading competitor in the blockchain gaming arena.
“One of the things that impressed me the most about Gala Games was the founders’ unparalleled experience and ecosystem approach.
If the obstacles can be satisfactorily solved using their strengths, Gala Games will easily become one of the leading crypto projects in blockchain gaming. ”
GALA is trading at $ 0.45, 24% off a 7-day high of $ 0.59.
Source: Tradingview
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