Bluzelle price prediction: Optimistic forecasts for gaming token
With a boom in P2E gaming, can BLZ sustain its current rally?
Bluzelle offers players a decentralised platform on which to store the assets they earn from play-to-earn (P2E) games. With low costs and a high transactions per second (TPS) rate, it is hoping to become the go-to decentralised storage network.
The platform and its BLZ token have been around since 2018. Despite struggling to take off in 2022, Bluzelle has seen some impressive bull runs. With Ethereum 2.0 in the works, some of Bluzelle’s USP issues may be solved.
Can the data storage network salvage a strong future, and what is the latest Bluzelle price prediction?
What is Bluzelle (BLZ)?
Ethereum faces a scaling issue thanks to its low transaction speeds and enormous gas fees. While the blockchain is working on a long-term fix, it has left those wanting to store data and NFTs facing overwhelming costs.
Bluzelle hopes to solve that problem, and is aiming its solution at the play-to-earn gaming community. Even if the scalability issues are solved, most gaming NFTs are stored on centralised servers that can pose risks to these assets. The goal from Bluzelle is to bring a better experience for these players.
With its 10,000 TPS and minimal fees, the team have put scalability and decentralisation at the core of the Bluzelle network. Its whitepaper says: “Bluzelle has a fully decentralised storage layer that store players’ game NFTs in hundreds of nodes instantly. This ensures players don’t lose their hard-earned NFTs.”
The network has also positioned itself to assist with DeFi products. Players are offered lending, staking and yield strategies for their gaming assets.
Bluzelle was co-founded by Pavel Bains and Neeraj Murarka. Bains had previously founded a digital book platform called Storypanda that worked with Warner Bros, DreamWorks and others. Murarka has two decades of experience as an engineer and computer systems architect. He has worked with tech giants including Google, IBM and Hewlett Packard.
The data storage network is secured through the proof-of-stake (PoS) consensus mechanism. Validators ensure the integrity of the network by staking BLZ, the native ERC-20 token. Users are motivated to become a validator as they receive rewards from Bluzelle’s revenue, as well as an allocated portion of the token supply.
While Bluzelle aims for a network that is dramatically lower in costs compared to the current standard, users are still liable to fees. Gas fees are paid for every transaction or action on the network. Complex tasks that require more resources are subject to higher costs. This fee is paid in BLZ and contributes to paying the validators.
The network aims to pay its validators a 25% annual percentage yield, which equates to roughly a 0.06% daily reward rate. Not all are convinced by the token’s offering, however, as it has had a bumpy ride.
Bluzelle’s price history
BLZ’s journey started off in January 2018 when it ran its initial coin offering (ICO). It was then listed on CoinMarketCap at $0.4216 on 6 February. It reached a high of $0.91 the following day, before crashing along with the wider bearish market at the time.
It had plummeted below $0.10 by the end of 2018, and stayed roughly at this level for the next two years. BLZ stooped to its all-time low of $0.006 on 13 March 2020.
The market was looking more favourable for the data storage token in 2021. Bluzelle revealed its roadmap for the year, which included improvements to its mainnet and cross-chain compatibility with Polkadot. BLZ peaked at $0.26 on 17 February 2021, but it was not long before the token saw more substantial rally.
The cloud computing platform Ankr became a validator on the network. Bluzelle tweeted: “Bluzelle & Ankr share a common philosophy of using blockchain to build a more secure, & scalable Internet, and this partnership paves the way for more joint development activities.”
BLZ surged to $0.57 on 17 April 2021, but it soon crashed and has not come close since. It fell below $0.30 in May 2021 and under the $0.20 mark in June.
It did see a rally towards the end of 2021, when Bluzelle launched the mainnet for its NFT storage platform. This allowed for photos, videos and audio up to 100MB to be stored on its network. BLZ reached a high of $0.41 on 16 November, but soon resumed its bearish trend.
On 1 January 2022, the token opened trading at around $0.22, and by the end of February it was trading at around $0.17. There was a slight rally in late April when Frontier listed the token on its app, allowing users to store and stake BLZ. It saw a rise of 9% in a 24-hour period, yet BLZ’s current price – just a little under $0.10 as of 24 August 2022 – is still far from its previous highs.
However, following the successful integration between the Bluzelle and Osmosis Testnet in May, the following was announced on Twitter:
That day, the token saw another rally, closing the day up by over 40% from the previous day’s close.
As Stargate and Gamma 4 are further integrated on Bluzelle, the protocol has made the following developments, stating: “[The Stargate] staking wallet is about 65% done. It will be integrated with Keplr and is already integrated with Metamask. It will also have a new feature – allow users to convert from the old Bluzelle coin ID (which is deprecated) over to the new Bluzelle coin ID.”
In addition, Bluezelle has passed the final tests to move to Stargate (Part 1). This means forking the current version (Launchpad) to Stargate, which began in July.
There have also been improvements made to the design, art and tech elements on the Gamma 4 project.
As of 24 August 2022, the token is trading at $0.09702, up 25% in a recent 24-hour trading window.
Bluzelle price prediction
While most forecasts are fairly reserved, Bluzelle price predictions for 2022 and beyond do suggest an overall hopeful outlook regarding BLZ’s future.
The Bluzelle crypto price prediction from DigitalCoinPrice says it will see a steep rise initially, with a projected value of $0.14 in September, but also $0.14 in December. The average price in 2023 and 2024 is also expected to be around $0.14, but the site makes a Bluzelle price prediction for 2025 of $0.19. Its Bluzelle price prediction for 2030 says the token could reach a maximum of $0.47.
WalletInvestor’s BLZ price prediction describes it as a “bad” investment. It predicts that the data storage token will go down to under $0.01 in a year, with no meaningful prospect of a recovery.
TechNewsLeader’s Bluzelle price prediction for 2022 expects an average price of $0.099. This is expected to grow to $0.32 in 2025 and then race to $2.04 in 2030, making this one of the most ambitious forecasts in the longer term.
Finally, the Bluzelle coin price prediction from Gov Capital says it should reach $0.18 in a year and $0.57 in five years’ time.
How many Bluzelle are there?
There are currently just under 336 million BLZ in circulation, out of a maximum supply of 500 million BLZ.
Is Bluzelle a good investment?
It could be. There has recently been a boom in play-to-earn (P2E) games and Bluzelle’s storage platform is positioned to take advantage of that. BLZ has, however, been on a downtrend since April 2021, so it is worth questioning how sustainable the recent rallies are.
Remember, investors should always conduct thorough due diligence before purchasing any tokens.
Will Bluzelle go up?
Most forecasters offer a hopeful but reserved BLZ price prediction. Aside from TechNewsLeader, which thinks it can reach over $2 in 2030, most sites suggest it will stay below $1 for the foreseeable future.
Remember, tokens are volatile so you should never invest more than you can afford to lose.
Should I invest in Bluzelle?
It depends. Bluzelle has been around since 2018, yet its token has struggled for much of that time. The platform could also see a further disruption after Ethereum’s 2.0 update presents a new scalability solution for the NFT market.
Cryptocurrencies are unpredictable, so you should always carry out your own research before investing any money.