Why I'm Bullish on $GALA
Blockchain gaming is still brand new...
Not all cryptos are the same.
That bears repeating, especially when looking at the sector. Some allow staking, others are great for NFTs, and still others are meme tokens with few use cases.
And some are for blockchain gaming.
That’s an emerging industry you might not have heard much about. I’m still learning about it too, but I like what I read. Gaming itself has been a hot sector for decades, and interest exploded even further during the early months of the COVID-19 pandemic. Gaming stocks were some of the best performers of 2020. Global gaming is worth over $180 billion right now.
No small sum.
Gala Games is one of the companies making foray into the space. They launched in 2019, and their signature crypto token is $GALA. They have several games ready for plays, and allow players to own NFTs, and give them a chance to influence governance of games in the Gala ecosystem. Eric Schiermeyer, one of the co-founders of Zynga, heads the company. ( I like Zynga and do hold the stock, even though I have recently gotten killed on the price of it.) You can find out more about Gala on their official blog, which is very active and full of helpful information. Expect more news from the development team in December, when Gala Games hosts the Galaverse event in Las Vegas.
With all this in mind, I own a small position of $GALA tokens right now. I’m keeping an eye on it to see if I want to add more.
And I’m not the only one who has noticed the potential for this token, or this sector. The $GALA cryptocurrency has just gone through a remarkable run, up over 1,300 percent in the last three months. That’s an incredible return. Holding $GALA for a year has done even better—up over 200,000 percent!
Normally, I would shy away from investing in something that’s already done that well. A run like that has to cool off at some point. Those are absolutely insane numbers.
But the fundamentals here are good.
The team knows the gaming industry, the tech is new, and there are less than 40,000 $GALA token holders right now. Anyone who gets a few is still really early on the investment. Investing in $GALA is also a metaverse play, and metaverse development has tons of interest in Silicon Valley and beyond. I’m not just talking about Facebook’s transition into “Meta”. Big money is betting right now that the metaverse is were users will want to be in the future… especially younger people.
Going forward, I think $GALA has more room to run, especially into 2022 and 2023. We shall see! Are you planning to pick some up? Have you already?
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.