Gala Games, the popular blockchain gaming company known for games such as Town Star and Mirandus, recently made headlines for listing their crypto token GALA on Coinbase. The GameFi sector has grown exponentially in recent years, and now, speculation suggests other industry leaders such as UFO Gaming will soon follow suit.
Gala Games and UFO Gaming both seem to have a similar growth narrative. According to CoinGecko, UFO has increased by 15,379 percent from its launch price of $0.000000350110 to its peak price of $0.00005418. Since its June debut, the company has grown significantly. And if this trend continues, UFO can still benefit from a further 8x gain.
The Exponential Growth of Gala Games
GALA rose over 70% over the span of 24 hours in late November, positioning itself as one of the top 100 crypto assets by market cap according to CoinGecko’s latest listings. Launched in 2020, the company already boasts over a million users, and it joins a legion of other projects in emphasizing giving more autonomy and real-world application to its players.
GALA coins can be utilized by gamers to trade, receive, buy and sell within their gaming universe. Players of Gala Games can also own their own NFTs, and purchase other in-game assets using the token. According to MarketNews, as well as the Global Gaming Market 2021-2025 Report, the gaming sector is expected to rise by $125.6 billion in the next four years.
UFO Gaming: The Newcomer Making Waves
UFO Gaming, similar to Gala, is an independent gaming company, developing games on the Ethereum blockchain. Their token, UFO, is a type of digital currency that can be used within their gaming metaverse, and is used to buy and sell a wide range of in-game assets, some of which include NFTs, and is not currently listed on Coinbase.
Players of UFO Gaming can come together to create their own clans, own and trade virtual land, all within the ‘Dark Metaverse’. Something that sets UFO Gaming apart from other GameFi projects similar to them includes incredibly ambitious plans. The gaming studio has plans in place to partner with AAA gaming studios and has already accomplished a $1 billion market cap.
What’s more, UFO Gaming’s launch game, Super Galactic, set to launch soon, will also have a dedicated NFT Marketplace, where gamers can trade their own characters, weapons, and other in-game items using UFO. Only 10,000 of the first edition NFT characters, also called ‘Genesis NFTs’, will be minted and available for players.
Despite being yet to launch their first game, the company has also already established itself as a serious player in the GameFi space. As Technology Sponsors of Chainlink’s Fall 2021 Hackathon, as well as the first GameFi company to sponsor an e-gaming tournament, their community-driven principals have primed them for continued success. It’s no wonder market watchers speculate the company will be next to list on Coinbase – only time will tell.