GALA gains 117% in February as crypto P2E gaming goes mainstream

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The play-to-earn (P2E) gaming sector of the cryptocurrency ecosystem has been one of the most resilient sectors to the volatility and price decline seen over the past two months, as gamers are jumping on the ability to earn income while playing coin-operated video games. .

One project that saw its token price climb rapidly during the first week of February is Gala (GALA), a protocol focused on using blockchain technology to give gamers control over the games they play and elements of game they acquire.

Data from Cointelegraph Markets Pro and TradingView shows GALA’s price soared 117% from a low of $0.177 on Feb. 2 to a daily high of $0.384 on Feb. 7.

GALA/USDT 4 hour chart. Source: Trading View

Three reasons for the rapid recovery of the GALA award include the upcoming launch of several popular new games on the protocol, a series of new partnerships that have helped expand the GALA ecosystem, and the growth of the GALA user base that continues to grow. reach new records.

Launch of new games

The $30 billion P2E gaming industry is growing rapidly, and protocols that want to keep pace and stay relevant need to release new games and maintain an active user base.

With this in mind, GALA has added support for new projects in the ecosystem such as the upcoming launch of Spidertanks and Legends Reborn.

Happy Lunar New Year!

Check out this new tank the GAMEDIA team is working on…coming soon! #YearOfTheTiger #GalaGames #SpiderTanks #playtoearn #blockchaingames pic.twitter.com/2kqy1cn1TZ

— Gala Games (@GoGalaGames) January 31, 2022

In addition to gameplay, the new generation of games launched on Gala have tapped into some of the growing trends in the P2E space, such as land and site sales, which offer users a way to earn passive income, helping to grow more community members. who are invested in the long-term protocol.

Partnerships with other protocols

A second factor contributing to GALA’s momentum has been the addition of new partnerships that help extend the reach of its ecosystem.

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

Gala also recently established a working relationship with Betwixt, a mental health-focused gaming app that was selected to receive $1 million in funding from the Gala Games Conservatorship fund to help integrate self-care into the community of players.

Related: Altcoin Roundup: 3 Emerging P2E Gaming Trends to Watch in 2022

Growing user base

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

Total number of GALA users over time. Source: Dune Analysis

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

Meanwhile, VORTECS™ data from Cointelegraph Markets Pro began detecting a bullish outlook for GALA on January 27, ahead of the recent price rally.

The VORTECS™ score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity. .

VORTECS™ score (green) versus GALA award. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ score for GALA moved into the green zone on January 27 and hit a high of 82, about 48 hours before the price gained 114% over the next seven days.

The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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