The host of crypto channel Coin Bureau claims that an Ethereum-based earn-to-play altcoin has the potential to become one of the largest crypto assets and could dominate the industry.
In a new video, the analyst, nicknamed Guy, told his 1.76 million subscribers, Gala Games (GALA) says it stands out as one of the few metaverse tokens that will survive in the long run.
“Of all the play-to-win projects in the industry, Gala Games stands out as one of the few ecosystems that can stand the test of time.”
Gala Games is an Ethereum and blockchain-based play-to-win gaming platform built on Ethereum, allowing participants to actively participate in game development by allowing them to buy and sell their in-game items as non-fungible tokens (NFTs).
According to Guy, crypto has much more room to grow compared to its competitors and if its market cap doubles, it will be the current leading token of the metaverse sector of the crypto market. Axie Infinity (AXS) It even has the potential to be on par.
“Assuming the current market cap of GALA is correct, it still has a lot of room to grow when compared to other cryptocurrencies in this niche. The leader of this niche right now is of course Axie Infinity. If GALA catches up with AXS, that would indicate double growth if AXS’ market cap remains constant.”
However, the server says that one downside of the protocol is the constantly high supply of tokens, which can increase inflationary selling pressure.
“Unfortunately, there seems to be a supply-side bias in the economic equation for GALA.” Millions of GALAs are released each week to reward the founders’ grades, and I think it’s reasonable to assume that most of them have been sold.”
Guy believes Gala has the potential to become a major competitor in the crypto gaming industry if the project can improve some of its weaknesses.
“What stands out most about Gala Games is its ecosystem approach and the unique experience of its founders.
If Gala Games can leverage its strengths and adequately address its setbacks, it could become one of the best crypto projects in the blockchain gaming space.”
GALA is changing hands at $0.42 at the time of writing, which is roughly 20 percent down from a seven-day high of $0.59.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.