Gala (Gala-USD) the future of blockchain gaming is a great buy

Gala (Gala-USD) the future of blockchain gaming is a great buy

This Tabstocks article considers if Gala (Gala-USD) blockchain for gaming is a great buy in these uncertain times.

Coin Ticker

Gala (Gala-USD)

Coin Name and Trading Exchange Platform

Gala – Coinbase Crypto Exchange (COIN: Gala-USD)

– Binance Crypto Exchange (BNB: Gala-BUSD)

Gala Coin Background

Gala is the digital utility token of the Gala Games chain. It is an ERC-20 token on the Ethereum blockchain and also exists on the Binance smart chain as a PEP-20 token.

It is cryptographically secure and native to the Gala gaming ecosystem, where it is used as a medium of exchange. It is fully transferable between users and they have control over how to use it.

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Gala powers the Gala games ecosystem, the founder’s nodes are in Gala by supporting the ecosystem where the games can run.

It is a non-refundable utility token that is used between participants in the chain. It has unveiled a series of blockbuster games. Gala Games stands out as one of the best ‘plays to earn cryptocurrencies.

The chain was found by Erick Schiermeyer and Mike McCarthy. The former is known for his intensive involvement in the gaming industry and was also behind the creation of My space.

Recent Most Important News about Gala

2022 will forever be remembered as a bearish year, especially for crypto which has had it worse. Gala has greatly plummeted as a result of the general state of affairs.

Meanwhile, the chain has been busy developing new applications and is set to release its new shooter game on Steam, a leading gaming distributor.

In partnership with Upland, a metaverse-building platform, they will be launching the Ethereum Interoperability portal.

The chain is working with some of the hottest musical rappers that could see it gain traction. This is via its segment Gala Music which features icons like Snoop Dog, Ice Cube, E-40, and other hip-hop stars.

Its overall user activity has reached 1.3M and is one of the top trending coins at the moment. Several NFT projects are being rolled out by the developers and have done pretty well in the past. Gala is ranked as one of the best Game-Fi tokens.

Massive updates were provided by its President of gaming, Jason Brink. The fate of NFT gaming, metaverse gaming, and more.

The token has faltered from the top 50 crypto list by market cap but could be back soon.

Current Position of Gala

Gala games are becoming an empire and making waves in the gaming sector. Speaking at a TEDx talk, Jason Brink emphasized that the industry is bigger than them and making an impact across the globe.

Gaming today is a multibillion-dollar industry and is poised to keep growing faster than average. New professions have sprung up and many are becoming professional gamers.

It is not uncommon to see legendary gamers in e-sports competitions bagging millions every year.

Gala is working with multiple partners in the space to upend conventional centralized gaming and make a difference in the space. These big brands include Trolls Vox, Dreamworks, Epic games, and more.

Mass adoption has already begun with many of its applications getting integrated into web 3 applications. Alongside web 3 gaming, Gala is also focusing on improving the film, music, and TV experience with Gala film and Gala Music.

Gaming is however its ‘cup of tea’ and ranks as a #top 10 crypto gaming token. It has made more than 15 games so far. Gala employs more than 350 people and is ironically one of the few profitable chains.

It has international operations around the globe and is up against many peers rushing to become the first movers in the sector.

Gala’s strategy to dominate the sector is replicating already successful games with proven track records and reinventing them in the blockchain. Its flagship game is called Townstar which is the web 3 counterpart of Farmville.

The token never went through an ICO or had any venture capital for that matter but rather creates its token by Gala nodes. Its founders funded the development together with income received from selling its applications.

The tokenonomics are sensible with a current circulating supply of 330.7M. Debate is still on as to whether the total supply is 30B or 50B.

The gaming industry is worth more than Hollywood and music combined. Leaders in the space include tech giants like Microsoft, EA sports, and more.

However, conventional gaming companies have slowed down in making games and are opting to milk users from existing gaming features.

Gala is using this flaw to upend these giants by providing new games regularly and allowing users to buy and sell features among themselves.

Decentralized gaming is the future and it promises to be a better rewarding experience with more surreal features due to the metaverse.

In the grand scheme of things, Gala will grow as a result of increased activity in its ecosystem. Its many partnerships will serve it well long-term.

Amidst the bear market, Gala is expanding its operations, preparing to rise in the aftermath.

GALA Token Trading Chart 

The crypto market is typical for its twist and turns and this could not be more true this year. Gala’s price has shown a down of (-2.01%) as of the 21st of October 2022.

The coin has plummeted from its peak highs of $0.70 in November last year and is now at record lows of 0.03215.

Its market capitalization of the token is now at $223.7M, a significant fall from its value last year. In the next bull market, this stock has huge potential for a run-up.

Technical analysis from the chart above shows that it is trading at a significant discount and the price action has been very bearish. It is trading at a falling wedge pattern and has found resistance at the current level.

This pullback has made it too cheap to ignore and the temptation to buy is inevitable. At the current price, the token is sitting in the region of its fair value.

Sentiment on Gala

Timing the bottom is proving to be a gruesome task for investors. Smart investors are advocating for dollar-cost averaging which will work well over the long haul.

Decent buying of the token is still being witnessed and the market chaos has both attracted and repelled investors.

Gala’s management has made it clear that it is not an investment vehicle and that is its core business to be a transformative player in its space. Treating it as such will mess up one’s ‘ROI’. Gala is a visionary and aims for the long-term & so should investors.

The token is a little under the radar and is only known to its community and other fanatics who are bullish on the coin. The general public is negative to crypto as a whole right now and especially altcoins.

Celebrity advertising (Gala music) will likely attract a more positive outlook for the token.

Pros of Investing in Gala

  • High Utility – The token is not selling pie in the sky as many cryptocurrencies have been accused of, but rather produces real-life applications that are in demand.
  • Cheap price – Bear markets offer the novelty of picking up valuable businesses cheap and this is certainly the case for Gala which is now at a few cents.
  • Security – The chain is fraud-free and open source thus only the owner has access to the wallet. It is also under the Ethereum chain which has upgraded security features.
  • Huge market potential – It is involved in both the blockchain and gaming sectors which are forecasted to boom in the coming decade.
  • Rockstar team – The founders of the chain are legends in their own right with experience in the gaming industry.

Cons of Investing in Gala

  • Low backing – The network is still growing and as much as it’s great to have no venture capital backing, it also slows down growth and hampers mass adoption.
  • Competition – There are literally hundreds of other chains competing against Gala. This includes Axie Infinity, Sandbox, and Apecoin.

Growth Likelihood and Potential of GALA

Gala games are one of the top blockchain gaming developers out there. Its strategy to diversify its operations beyond a single game is truly ingenious.

Unlike its rival Axie Infinity which is focused on one game and could eventually become obsolete, Gala makes several games.

Gala has not blindly pushed for its token over significant development like many other altcoins. It has opted for the contrary approach which will serve it well.

Its mission is to make games that people will want to play. Even in tough times, gaming will be a solace for the majority of people. We all play mobile games in one form or another and this sector tends to do well in whatever market condition.

The tokenomics are still intact and the issue around the supply is trivial. The range between 30 to 50B Is not very large and can be comfortably adjusted either way.

Gala is already making one of the biggest collaborations in crypto history. Its cause to give control back to the gamer resonates with many and is truly a worthy one.

For the longest time, big gaming companies have been extorting gamers by offering every feature on premium. They also hold rights to the avatars and what goes in the game.

The track record of its founders has shown that they have what it takes to build a successful company, with Zynga now worth $8B. Only its flagship is playable at the moment and players will be excited about the coming series, creating a sustainable model.

Gala engages its discord community to get feedback about its games and the necessary upgrades that need to be done. The world is moving away from lobbyists and taking privacy back into the hands of the consumer.

The Gala node ecosystem consists of a triple proof-of-node system & proof- of- work.

It also has an additional proof-of-stake and proof-of-storage mechanism. Its nodes are unique and revolutionary in the sector.

The plausibility of the coin getting to one dollar is very plausible, given the maximum supply is 50B. The token can get to a market cap of $50B in the next decade given its aggressive developments.

The Gala team is expected to launch its spider tank’s planetary nodes by the end of October. Spider Tank is a 3v3 arena brawler in which teams get to battle, and leverage different dynamics. This is very exciting to the nerd gamers and allows more participation.

The metaverse is speculated to be the next frontier of the evolution of seamless interaction technology. Big companies are already betting big on this and hope to take the lead.

The bigger they are the harder they fall, this well captures the state of the market. Most big companies like Meta might be thriving today but face many existential threats.

Small players like Gala can move and act faster and have massive growth capacity as well. It is also solely focused on blockchain developments, unlike tech companies that are concerned with many other operations.

There is a pent-up demand for Gala and its related products, evidenced by the record sell-off of its NFTs in just under ten minutes.

This token will meteorically rise in the future and will likely be ahead of the curve in the gaming sector.

Overall verdict on GALA

The token receives some significant attention from analysts who predict that it could go on a parabolic trajectory over the course of the next decade.

Gala is the token to watch for in blockchain gaming and fits into the puzzle to dominate the market. It is however not immune to global macroeconomic uncertainty which could have dire effects on the entire globe.

The token could see more downsides in a systemic collapse but will take off almost immediately after. Gaming is an industry that has seen little disruption and it is time the narrative changes.

Based on annual moving averages and oscillators, the coin is neutral at the moment, as the markets have been rather unsteady.

With the fall in price, the token is a solid buy at the moment and will thrive in the long haul.

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