In this episode of the BeInCrypto video news show, host Jessica Walker takes a look at its June picks for the altcoins behind some up-and-coming non-fungible token (NFT) platforms. We will introduce each platform and analyze recent price movements.
We will look at the Bondly Token and Gala Token, both with very interesting propositions for the NFT and gaming markets. Considering the NFT craze is starting to cool off, their value propositions look very promising, so don’t look away yet!
We finish off with Gamer Coin and SAK3. With the first coin, you can earn for the hours you dedicate to playing games. Meanwhile, the second has a unique use case related to the traditional Japanese drink, sake.
Bondly is first on our list of NFT gems for June. Bondly is a portable swap protocol, designed to provide a fully secure marketplace for both the seller and the buyer. It wants to make NFTs more accessible to everyday users through decentralized escrow payments to improve the traditional marketplace experience.
Bondly was launched on the Polkadot ecosystem in September 2020. It offers an ecosystem of decentralized products that enable anyone to execute digital payments between peers.
Bondly seems to be recovering nicely from the recent crash and has gained 65%, in the last week.
Should this recovery continue, the next price targets on the upside could be around $0.50, meaning gains of another 100%.
Gala is a new type of gaming platform, partially owned and operated by its players. The main premise of Gala is that players may purchase items, but do not actually own them like traditional NFTs. The platform emphasizes the fact that players only buy the privilege of using an item.
Another interesting feature is that Gala also wants players to have a voice in the roadmap. They can do this via distributed voting mechanisms, to help determine what games should get developed and receive funding.
It’s an interesting project with a practical application for NFTs, and we think that the downtrend in the token might be coming to an end. On the chart, you can see the signs of a rebound that might just be getting its initial momentum.
The price is pushing up against a resistance level and if it manages to go over it a new uptrend could begin.
Gamer Coin (GMR)
The GMR coin was set up as a way for the gaming community to reward each other, as well as for developers. They can also use it as a form of payment for in-app purchases and gifts, among other things. GamerHash and their GamerCoin (GHX) aim to become the go-to platform for gamers wanting to utilize their unused computer power for mining.
In the next steps of project growth for this year, there are plans to include desktop apps development and an NFT marketplace focused on gaming and e-sports. That would allow the GamerHash project and blockchain layer to perform better, which provide significant improvements for its users.
Although attention in the token hasn’t been as high as it was a couple of months ago, we did notice a possible breakout on its chart.
It’s trading at around $0.55, at the time of recording, and there could be more upside here.
SAK3, the project making the world’s first tokenized sake is last on our list. The project has only 888 NFT tokens that correspond with the same number of physical bottles of sake. It obviously caught our attention because of the limited number of tokens and the rising price over its short lifespan.
On June 1, with a circulating supply of only 888 coins, it reached an ATH of almost $53,000 per sake bottle. At the time of the recording, you could only afford it by spending over one bitcoin (BTC). SAK3 dropped from its $53,000 highs, last week, but there’s definitely more potential here. A possible rebound might be a good entry point into owning this potential NFT gem.
On another important note, SAK3 originated on MISO, a new product from Sushiswap that helps developers launch their projects on the Sushiswap exchange.