GALA coin price prediction: Will it reach $1?
Gala has been rallying in February. So what does this mean for the latest Gala price prediction?
Contents
- From the GALA white paper
- GALA’s price history
- The Town Star buzz
- Newer games and more support in 2022
- GALA coin price prediction
- FAQs
November 2021 was a successful month for the games distributor Gala Games. After releasing new non-fungible token (NFT) avatars and updates to its farming game Town Star, it reached a new all-time high. So far this month, the value of the token has climbed more than 55%. So what’s next for GALA and play-to-earn gaming in 2022?
Gala Games (not to be confused with the Japanese game publisher Gala Group, with its gPotato currency) was founded in the US by Eric Schiermeyer, the man behind the online game Farmville, with the aim of giving players ownership of the time and money they invest in video games. It has so far released two games where players can purchase NFTs from its marketplace and use the items in-game.
As well as decentralisation, Gala Games’ other key principle, it says, is to prioritise gameplay and ensure it makes “games you’ll actually want to play”.
Gala Games’ native token, GALA, only launched in 2020 and saw a bullish price history in 2021, climbing from $0.001 to an all-time high of $0.84 on 26 November. But over the course of December 2021 and January 2022 the price fell, to a low of $0.157 on 22 January.
Some recovery has been made since then, and as of 17 February 2022, the coin is currently trading at $0.32.
From the GALA white paper
The ‘What is GALA?‘ white paper explains: “The GALA token is the digital utility token of the Gala Games ecosystem. It is cryptographically secured and native to the Gala Games ecosystem. GALA is transferable between users, and they have full control over how to use it.
“GALA is a non-refundable utility token which will be used as the medium of exchange between participants in the Gala Games ecosystem. The goal of introducing GALA is to provide a convenient and secure mode of payment and settlement between participants who interact within the Gala Games ecosystem.”
GALA’s price history
The GALA token launched on 18 September 2020 at $0.0014, and for the rest of the year struggled to get past its launch price. By 28 December 2020, the coin had reached its all-time low of $0.0001.
GALA managed to break out of that bearish trend early last year and started climbing in February 2021. On 27 February, the coin reached $0.032. This was during GalaCon, an online gaming event hosted by the Gala Games team. The event, which included gaming competitions as well as a chance to meet the founding team, was hosted over two days on the GamerJibe platform and had more than 1,200 attendees.
The price momentum continued into the following month as it reached $0.033 on 10 March. Gala announced a partnership with the Polygon network in March. Gala was working with Polygon to ease the gas fees gamers had to pay. It also announced that it was partnering with Polygon to develop a new game, but there were few details about it in the announcement.
Over the next months, the GALA price started dropping and by 22 June it had fallen to $0.006. The coin did spike again in July and August, but it only recently started making significant gains.
September saw one of GALA’s largest price surges, which accompanied news of the coin listing on major exchanges. On 13 September, Binance announced users could trade with GALA. It revealed four different pairs for the coin, including bitcoin, binance coin, binance USD, and tether. GALA reached a new price record on the day of the listing, hitting $0.04.
Three days later, the Bibox exchange also announced it was listing GALA. Unlike Binance, it only listed one pair, which was with tether. The price spiked again and surged to $0.10.
The Town Star buzz
September proved to be an eventful month for Gala Games, as it revealed a new reward for its farming game, Town Star. TownCoin is the official blockchain-based reward of the farming game. A Gala Games blog post said: “It will form an economic basis for play-to-earn reward models built into future Gala Games titles”.
On 17 September, the day of the TownCoin announcement, the GALA price made even more gains and peaked at $0.11.
More Town Star updates were revealed by Gala Games in October and November, a month that saw even more price records for the GALA token. On 25 November, Gala Games announced a new character for the game, Lolli, who is also known as the Candy Queen. It was later revealed that she would be joined in the game by a brand new building, the Candy Shop, which allows players to craft sweets that will sell, supposedly, for a high price.
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Gala Games also has an NFT project called VOX, where users can purchase avatars with different traits. New VOX avatars were revealed on 27 November that were inspired by another upcoming game called Mirandus. Players owning one of these new avatars became eligible for daily rewards in Town Star.
This generated a lot of excitement around Gala Games and its token saw the highest price surge so far. GALA climbed from $0.11 on 16 November to $0.84 on 26 November, the current all-time high.
Newer games and more support in 2022
GALA has been consistently adding support for new projects in the gaming community, including the upcoming launch of Spidertanks and Legends Reborn.
Staying as far ahead of the competition as possible in a rapidly developing pay-to-earn industry, GALA has introduced land and revenue sales to keep its play-to-earn subscriber base active and growing. On 27 January 2022, Betwixed announced a new partnership with Gala. Betwixed will receive $1 million in funding from the Gala Games Conservatorship fund.
On 8 February, GALA firmly established itself in the NFT space by confirming that it will allocate $5bn to further its NFT ambitions this year, split between gaming, music, movies and theme park NFTs.
Additionally, on 13 February, Gala Games launched its first fully generative and reactive NFTs series, ‘The Orbs’ created by the composer and musical technologist BT.
Gala also launched the sale of rapper Snoop Dogg's NFT tracks from ‘Bacc on Death Row’. The American rapper recently launched 25,000 Stash Box NFTs on the Gala Games platform, selling for $45m in just six days.
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GALA coin price prediction
The GALA price prediction from analysts and algorithm-based forecasts predict a gradual upward trend for the coin. At time of writing, PricePrediction.net says it will reach a maximum trading price of $0.54 in 2022. The price of one GALA is expected to reach a minimum level of $0.65 in 2023, $0.92 in 2024 and a minimum price of $1.31 in 2025.
WalletInvestor says GALA is an “awesome” long-term investment, and its forecast is a little more optimistic in the long term than PricePrediction. The site’s maximum average price prediction for 2022 is just over $0.60 by the end of December. At the time of writing, its GALA crypto price prediction says it will reach around $0.65 in one year’s time and up to $2.12 in five years’ time. Its GALA coin price prediction for 2025 is for the coin to breach the $1.50 value in June.
The DigitalCoinPrice GALA price prediction is slightly less optimistic than WalletInvestor. It says GALA will average out at $0.48 in December 2022. The average value for 2025 will be $0.72, while the site thinks GALA will reach $1.36 in 2029.
Data published by TechNewsLeader makes a GALA coin price prediction for 2022, stating that GALA “may cross $0.55 if the market sees a good bull run. Given that it is expected to be held by long-term investors, its average price for 2022 will be around $0.47.” The GALA coin price prediction for 2030 is up to $9.42.
FAQs
It might be. GALA was on a bullish trend in 2021 and set an all-time high of $0.84 on 26 November. The consensus from price predictions is that this gradual increase will continue.
However, predictions are not always right, so you should always do your own research before investing.
It could do. The general consensus from the forecast sites suggests an upward trajectory. However, price predictions can be wrong – so never invest more than you can afford to lose.
It depends. Gala Games has seen recent success after the updates to its farming game Town Star and others. To date, Gala Games is working on a total of five different games and numerous other NFT ambitions.
However, not all blockchain projects succeed and there is a vast list of failed coins. Investors should always invest in cryptocurrencies with caution.
