Can Gala Reach $10?
Ethereum based tokens are definitely on the rise these days. Gala is a play to earn gaming platform that is based on the network of Ethereum ERC-20. On Gala, using blockchain and NFTs, players can win verified assets and then trade them with other players.
As of now, there are about 16000 different players who are actually fuelling the entire environment of Gala. In order to make some improvements on the Gala Network advancement, it has managed to partner with Flare, Polygon, Brave, Mazer Gaming, and other companies. The Ecosystem of Gala is definitely on the rise.
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So the big question is Can Gala reach $10
Can Gala Reach $10? Overview of Play to earn market
The Play to earn market is expected to grow to $219 billion by 2024. It is probably less than $10 B in 2021.
Search queries for the Play to earn market have exploded 6 fold in the last 12 months. Interestingly, traditional gaming is still 60x higher than play to earn market. The Gaming market was worth $180 B in 2021.
The future looks quite positive for Blockchain games and players like Gala Games.
Can GALA Reach $10? Analysis of Data
GALA has managed to reach an ATH or an All-Time-High price of $0.83 in 2021. It has since fallen but is predicted to reach $0.42 by the end of this year.
Gala’s current price is 0.21 and a market cap of $1.5 Billion. If Gala were priced at $10, the market cap would be $48 Billion. The Play to earn market is predicted to increase by 20 fold over the next 3 years. Even if one were to assume the estimates were off by 2-3 years, Gala could be priced anywhere between $6-$10 dollars by 2027. So the answer to the question Can Gala Reach $10 is Given the explosive growth in Play to earn games, Gala can easily reach $10 in the next 4-5 years.
Another interesting way to look at Play to earn games is to look at each gaming platform as a tiny country and purchase and sales inside the game viewed as commerce inside the game. When reframed this way, Game Tokens like Gala have a much brighter future than most Meme and Alt Coins.
A few comments at the end –
- Return on Investments in a coin like GALA can be very unpredictable for sure. For example, Gala lost 2/3rds of its value over the last 3-4 months
- Some experts have assessed that by 2026, the exchanging price on an average for GALA would be about $5, lower than our previous estimates
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.
Authored by Ananya Mukherjee