The host of the crypto channel Coin Bureau says they identified one Ethereum-based gaming altcoin that he believes could dominate the sector.
In a new video, pseudonymous analyst Guy tells his 1.76 million subscribers that Gala Games (GALA) stands out as one of the few metaverse tokens that will survive in the long run.
“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 one Blockchain-based play-to-earn gaming platform built on Ethereum which enables participants to actively participate in the development of a game by using their own game items as non-fungible tokens (NFTs) can buy and sell.
According to Guy, crypto has a lot of room to grow compared to its competitors, and if theirs Market capitalization would double, she would be that of Axie Infinity (AXS) , currently the leading token in the Metaverse sector of the crypto market.
“Assuming that GALA’s current market capitalization is correct, it has compared to others Cryptocurrencies there is still plenty of room to grow in this niche. Axie Infinity is now the leader in this niche, and if GALA caught up with AXS it would be a 2x, assuming AXS ‘market capitalization stays the same. “
However, the host says that one downside to the protocol is the continued high supply of tokens that could increase inflationary selling pressures.
“Unfortunately, GALA seems to be leaning on the supply side of the economic equation. Millions of GALA are minted each week to reward the founders’ notes, and I think it’s reasonable to assume that most of them are selling. “
Guy says if the project can improve some of his weaknesses, Gala could become a top competitor in the crypto gaming sector.
“The only thing that strikes me the most about Gala Games is the 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. “
GALA is trading hands at $ 0.45 at the time of writing, a 24% drop from its seven-day high of $ 0.59.
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Source: Crypto News Deutsch