GALA gains 117% in February as P2E crypto gaming goes mainstream
GALA gains 117% so far in February as the ecosystem continues to attract new users. Read the full article by Jordan Finneseth “Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.”
Axie Infinity has brought to light another opportunity in the blockchain space. The concept of play-2-earn has been growing ever since Axie took off last summer. It became so popular for about a month there that people were quitting their jobs because they were making more money playing the game than going to work.
Gala is a new protocol that focuses on utilizing blockchain to give players control of the games and the in-game items that they acquire. The protocol has had a pretty big month as the price has soared 117% this month. Gala bottomed out at $0.17 on the 2nd and is now sitting around $0.38. The rise in price could be due to a number of different things they have on the way. This is a nice turn around for any project especially after how the year has started for financial markets.
They are planning on launching several new games and also have a bunch of new partnerships that will all contribute to the growth of the ecosystem. For P2E to be successful there will need to be more new projects added all the time as the games continue to grow since people always need more to keep their attention. Gala is always planning for new games to come out and is anticipating the launch of two more in Spidertanks and Legends Reborn.
Some of these games even allow users to buy and sell land. This creates another type of in-game economy and keeps users invested in the product for long-term reasons since this allows them to also make a passive income by owning the land. That is another reason why Galas user base has also continued to grow since the beginning of last year. As of today, there are 122,230 users playing on Gala.
There is definitely a market for P2E blockchain games going forward but how many of them will last is another story. Some gamers are not too big on the fact that they are monetizing gameplay where video games were thought of as an escape from the world. It also brings up how many people are actually playing it because it is a good game and not just because they make money playing it. The amount of income that you can really make off of them is still unclear because there is such a small amount of users for the time being. It is hard to imagine that there is another Axie Infinity situation where people are making enough in the game to quit their real-life jobs at least for now.
