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A report from Gartner, a trend-spotting firm, predicts that 25% of people will spend at least one hour every day working, playing, shopping, and learning in the metaverse by 2026.
Gala Games (GALA) is one such cryptocurrency that can highly benefit from this trend.
In GALA, a blockchain-based game, users accomplish in-game missions and milestone achievements earn GALA tokens. It also enables players to create and trade NFTs in the game or through non-game-based exchanges to earn digital assets that can be converted into both digital assets and cash.
But before you make up your mind to invest in it, here are a few things that you must know before investing in the blockchain game:
Gala Games’ own blockchain
The company plans to launch its own side of the blockchain public on its blog site. It further revealed that the blockchain is in the final stages. The blockchain will be powered by Gala Nodes. As of now, the GALA platform runs on Ethereum, the world’s second-leading cryptocurrency but is often criticized for high transaction fees and network congestion.
According to the GALA post, migrating to GalaChain will eliminate such troubles.
GALA Games Price Experienced A 50,829% Rise last year
With Gala Games, the aim of the founders is to allow players to have an important share in the profits earned. Due to its unique earning model, the price of its utility token increased by a whopping 50,829%. Not only that, it even outperformed the other leading metaverse projects, including The Sandbox, Decentraland, and Axie Infinity. Even after the pump of last year, the project can still grow further.
Gala Games’ NFT Collection
Gala Games also launched their NFT collection dubbed VOX and has a secondary market that is quite active and has individuals that have an interest in collecting those pieces. Last year, it sold an NFT for $3 million.
The developers also collect feedback from its players and what they expect from GALA to develop and add to its platform.
As per the data from CoinMarketCap, Gala Games caters to at least 1.3 million monthly users and over 26,000 NFTs sold since its start in 2019.
Gala Games 70% Less From Its ATH
At the time of writing, GALA was exchanging hands at $0.201632, approx. 70% less than the ATH it reached in November of last year. However, the token is the 69th leading crypto asset with a market cap of $1,406,829,669.
A pump of more than 50 times in its current price is expected considering its roadmap and the increasing popularity of the Metaverse and NFTs.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
