The host of crypto channel Coin Bureau says that he has identified a gaming altcoin on Ethereum that he believes could dominate the sector. In a new video, anonymous analyst Guy asserts Gala
Games (GALA) is one of the few Metaverse tokens that will be around for long. “Among 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 Ethereum that allows players to actively participate in game development through the fact that they can buy and sell in-game items under NFT format.
According to Guy, this cryptocurrency has a lot of room to grow compared to its competitors and if its market cap were to double, it would be equivalent to Axie Infinity (AXS), the leading token right now. in the Metaverse sector of the cryptocurrency market. “Assuming GALA’s current market cap is the norm, it still has a lot of room to grow compared to other cryptocurrencies in this niche. Now, the leading project in the segment is of course Axie Infinity. Thus, GALA only needs to grow 2x to catch up with AXS, assuming AXS's market capitalization remains the same.
However, the presenter said that one drawback of the protocol is the excessive supply of tokens. This could increase selling pressure on inflation. “Unfortunately for GALA, it seems that the economic equation is tilted towards the supply side. Millions of GALA are being minted every week to reward founders and I think it is reasonable to assume that most of them are being sold.” Guy commented that if the project can improve on some weak points, it will become a leading competitor in the blockchain gaming field. “One of the things that struck me most about Gala Games was the founders' unparalleled experience and ecosystem approach. If the obstacles can be satisfactorily resolved while leveraging their strengths, Gala Games easily becomes one of the leading crypto projects in the blockchain gaming space.”