Recently, the host of the popular crypto commentary and market analysis show Coin Bureau commented on the “play-to-earn” sector.
During a recent YouTube video, Coin Bureau’s pseudonymous host “Guy” told the channel’s 1.78 million susbscribers that $GALA, which is the rhe main cryptocurrency used in the Gala Games Ecosystem, looks poised to be the next major altcoin to emerge from the pack of metaverse tokens. The host claimed $GALA was a stand out in the rapidly emerging play-to-earn sector that is sweeping the crypto markets.
Gala Games operates as a blockchain-based gaming platform built upon Ethereum. In addition to playing the games, users can buy, trade and sell their earned collectibles as non-fungible tokens (NFTs).
Guy noted that $GALA could continue to grow in the gaming sphere, potentially to the point of rivaling Axie Infinity ($AXS).
As reported by The Daily Hodl, Coin Bureau’s host said:
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 .
Despite predicting a bright future for GALA, Guy warned that the project could suffer from over-minting of the platform’s native token. He argued that the developers were leaning on the “supply side” by flooding the game with millions of $GALA each week to reward founders’ notes.
Even with the project’s shortcomings, Guy said the Gala Games could “easily become one of the top crypto projects in blockchain gaming,” in part due the significant experience of its founders and well-built ecosystem.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.