Triaconta Weekly #187
The following topics will be addressed in this weekly.
- Bundle performance
- What is Gala?
- Market overview
October is generally a great month for Bitcoin and the rest of the market. Last Thursday a small dip on which El Salvador immediately bought another 420 Bitcoin for the country. We are closing a very successful October with a significant increase in all bundles. The revision is complete and we hope the new coins will contribute a lot to the returns in November.
1 Month: +37.77% | 7D: -1.61% | 24H: +0.95%
1 Month: +26.86% | 7D: -2.22% | 24H: +0.55%
1 Month: +30.68% | 7D: -2.31% | 24H: +0.98%
1 Month: +10.34% | 7D: -2.08% | 24H: -0.62%
What is Gala?
Gala was founded in July 2019 to create a blockchain-based game network in which the players take ownership of the game. The Gala development team consists of 60 people and is led by founder Eric Shiermeyer. He co-founded Zynga which you may know from successful games like Mafia Wars and Farmville.
Town Star, the only game that can currently be played, is a town simulation that can be played in a browser. 1.3 million monthly active players manage a city similar to SimCity gameplay, but in Town Star they really own the city. You used to spend a lot of money on a game and play for hours developing your character until the studio pulled the plug and there was no longer a game server online. If you earn or win a Magic Sword on the Gala Game Platform, it’s really yours, and you can use or sell it yourself. The games will also continue to exist as long as there are players and the players decide by voting whether and how a game will be further developed.
Several games are still in development and the number of players will continue to grow. Fortified is a two-player tower defense game set in a fantastic medieval world. Mirandus is a fantasy role-playing game (RPG) set in a vast world ruled by five player monarchs. Players can own in-game assets and claim parts of the in-game landscape. Echoes of Empire is a sci-fi strategy game set in a galaxy at war. Players can own their own spaceships and control parts of the galaxy. Spider Tank Project is an online multiplayer battle arena game. The game is still in beta test but will soon be free to play and money can be earned in the game. This Play to Earn (P2E) strategy works very well and has also made Axie Infinity big ($8 billion market cap). The release of the Spider Tank is already planned for Q4 2021.
There will be up to 35 billion GALA tokens, of which nearly 7 billion are currently in circulation ($500 million market cap). About 17 million tokens are added every day. So there is a low annual inflation rate of 0.58%. Half of the added tokens will be the reward for the Gala token transaction processors, the other half will go to the Gala Games conservatorship. Every year on July 21, this reward is halved. Gala token has the great advantage that it exists on both Ethereum and the Binance Smart Chain, which enables low transaction costs. The token price has been moving sideways between 7 and 10 euro cents for a month. The price will depend entirely on the releases, success and number of players of the games.
The first three Bitcoin (futures) ETF in America are a fact and very successful. However, an ETF that actually invests in Bitcoin rather than Bitcoin futures still seems a long way off. The SEC still thinks Bitcoin trading is still too Wild West. From now on, pay extra attention to the Bitcoin price in the days leading up to the last Friday of the month when the futures expire.
DHL, the largest logistics service provider in the world, has started a partnership with VeChain. DHL China, which sends 83% of all DHL packages worldwide, starts very simply with NFTs from the DHL mascot, but of course they do not just choose VeChain. This is a real foot in the door and should lead to collaboration in DHL’s logistics processes. This will also give other companies with logistics processes the confidence to take a look at the blockchain, AI and IOT solutions of VeChain. We discussed VeChain extensively in Weekly #179 a while ago
Cardano founder Charles Hoskinson is on a promotional tour of Africa. He talks to ministries in various countries about digitization and the use of blockchain technology. This week he is in Ethiopia with the ministry of education to talk about recording diploma certificates of five million students. The tour covers Burundi, South Africa, Ghana, Nigeria, Kenya and ends in Egypt.
The Indian government is coming next year with a regulatory framework for working with cryptocurrencies. Earlier this year, authorities planned to impose a total ban similar to that in China and even criminalize the possession and mining of cryptocurrencies. Instead of a complete ban, the authorities will now regulate and tax bitcoin and the altcoins as a new asset class. The second most populous country in the world is one of the fastest growing markets for cryptocurrencies.
Dutch Red Bull Racing driver Max Verstappen stars in a new commercial from Red Bull sponsor CashApp, in which he is taught about Bitcoin and how fast the Cash App is. However, the app is only available to US and UK residents. Still a nice deal for Max and reaching a new target group for crypto.