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Gala Token Price Prediction 2023: Is It Worth Investing? In-depth Analysis

What is Gala?

Gala is a blockchain-based gaming platform, commonly known as a chain game, which has always been a field with vast potential and numerous development challenges in Web3. Chain games are constrained by three main factors: infrastructure, token liquidity, and regulatory policies.

Due to regulatory policies, traditional game companies such as Blizzard and the gaming platform STEAM have prohibited the issuance of NFT games. NFTs have always been considered a crucial component of chain games and an important means of transforming traditional games from pay-to-win to play-to-earn. Assets in the gaming and anime industries, including image and asset control rights, are primarily held by traditional enterprises like Nintendo. These assets include well-known characters like Pokemon and Mario. If these characters were transformed into NFTs, their value would skyrocket. Just think about a picture of a monkey (BAYC) selling for over 50 Ethereum. If Nintendo authorized the release of Pokemon NFTs, the prices would be astonishing. Otherwise, it can be said that the price of BAYC is simply inflated.

Infrastructure is limited because many games are developed on the Ethereum blockchain. Ethereum’s congestion and high gas fees have a negative impact on the user experience of playing chain games. Continuing to develop games on the blockchain is also controversial.

Using blockchain for gaming requires the issuance of tokens and their trading, which involves risks and is prohibited in many countries. With the strengthening of regulatory measures, it will become even more challenging to launch tokens for chain games. One significant problem that the market needs to address in the chain game sector is a unified token with low or even zero cost, which can be freely exchanged with fiat currency.

It is precisely because of these challenges that this industry also presents enormous opportunities, as currently no company can achieve a token that can capture more than 40% of the market. Gala Token’s Ambition

Gala itself is a game platform similar to Steam, providing interfaces and standards that allow players to have multiple options for chain games. Currently, there are 17 games available on the Gala platform for players to enjoy, with most of them generating revenue by selling in-game items as NFTs on the Gala platform.


Pic 1. Gala Games

For players, Gala’s model can address challenges related to token universality (although games on the Gala platform have their own tokens, Gala can be used for exchange), network congestion, and purchasing tokens with fiat currency. However, Gala has not explained the token burning mechanism well, and players perceive the token to be in a constant state of inflation, which has posed problems for Gala. During bear markets, this has caused the price of Gala tokens to plummet.

In addition to playing games on Gala and earning tokens, players can also earn Gala tokens by providing node services. Node services are similar to mining and enable fast and decentralized transactions based on Gala. Nodes are rewarded with Gala tokens based on the duration of their online presence. If users believe their network and hardware infrastructure is powerful enough, they can purchase a Node and use their local computer as a node. Currently, the price of a Gala Node has risen to $59,700 (the price increases by $100 for every 100 nodes sold), and the reward for a node in 24 hours has decreased to 300 tokens, while the price of Gala is currently $0.03. This means that the payback period for a Node has extended from an early period of 3 months to 17 years. Therefore, based on the current data, the number of Gala nodes has exceeded 60,000.

Due to the relationship between node rewards and the amount of Gala, Gala has not clearly explained the token burning mechanism.

Is it worth investing in Gala tokens? Price Prediction for 2023

There aren’t many chain games on Gala, only 17, but compared to other chain games, it’s not considered few. The more well-known game, Townstar, has experienced a price increase due to the influence of the metaverse. However, the metaverse quickly became a thing of the past after April 2023 and the market is now focused on Ethereum upgrades and layer 2. Even layer 2 became a thing of the past in May, and the market is now shifting its attention to BRC-20. The blockchain industry moves at a very fast pace, with any hot trend fading within three months from discovery to diminishing popularity.

The rise in Gala token prices is not due to chain games but rather due to its games being in the metaverse hot trend at the time. At the same time, it has gaming attributes. For newcomers, it’s not easy to do proper research and due diligence when investing in chain games or the metaverse. Therefore, it’s safer to invest in a chain gaming token like Gala, which has 17 games and a lower risk of rug pulls (chain games are prone to rug pulls).

Therefore, Gala’s price has been declining as the current hype has faded. The next support price is at 0.03, based on the short-term daily chart. When the metaverse and chain games become hot trends again, it is estimated that it will happen in 2024 when there is an increase in market enthusiasm.


Gala Games,