Please enter CoinGecko Free Api Key to get this plugin works.

GALA rose 117 percent in February as peer-to-peer (P2P) crypto gaming became more popular

GALA has gained 117 percent in February as the ecosystem continues to attract new users.

The cryptocurrency ecosystem’s play-to-earn (P2E) gaming sector has been one of the most resilient to volatility and price declines in recent months, as gamers take advantage of the ability to earn money while playing tokenized video games.

Gala (GALA), a protocol focused on utilising blockchain technology to give players control over the games they play and the in-game items they acquire, has seen its token price rapidly rise in the first week of February.

According to data from various analysts, the price of GALA increased by 117 percent from a low of $0.177 on February 2 to a daily high of $0.384 on February 7.

The upcoming launch of several new popular games on the protocol, a series of new partnerships that have helped expand the GALA ecosystem, and the continued growth of the GALA user base are three reasons for the rapid recovery in GALA price.

New game releases

The $30 billion P2E gaming sector is rapidly expanding, and protocols that want to keep up must launch new games and maintain an active user base.

In this light, GALA has been adding support for new projects in the ecosystem, such as the upcoming Spider Tanks and Legends Reborn launches.

Aside from gameplay, the newer generation of Gala games has tapped into some of the growing trends in the P2E space, such as land and venue sales, which provide users with a way to earn passive income, assisting in the growth of a larger pool of community members who are long-term investors in the protocol.

Collaborations with other protocols

A second factor contributing to GALA’s momentum is the addition of new partnerships that are helping to expand the reach of its ecosystem.

This includes a recently announced collaboration with the 888innercircle Twitter community, which has over 205,000 members who are fans of digital art and collectibles.

Gala has also recently formed a partnership with Betwixt, a mental health-focused gaming application that was chosen to receive $1 million in funding from the Gala Games Conservatorship fund to aid in the incorporation of self-care into the gaming community.

Increasing user base

The community has seen a steady increase in the number of users over time, especially since the beginning of December 2021, as a result of the expansion of the Gala ecosystem and the addition of ways to earn a yield through gameplay or other methods such as running a Gala node.

According to Dune Analytics data, the total number of GALA users stood at 122,230 on Feb. 7, a figure that has tripled since Nov. 7, 2021, when it stood at 40,380.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Leave a Comment

Your email address will not be published. Required fields are marked *

Facebook
Twitter
Telegram

Recent Posts

Follow Us