Chromecast is NOT competition. Here's why..
Chromecast is a DINKY USB stick that has only 3 channels you may stream. It has hardly ANY memory to load any other channels and you can forget gaming altogether. It will not play 4K films either. You will not be able to hook up external drives via USB or microSD slot. This is a very simple product for people who use Netflix and YouTube. To make matters worse it only runs on USB power so it won't be able to do much more. There is no built Flash drive either. My guess is you will be able to download maybe 5 channels in the future altogether.
The Nuvola is VERY powerful. Has awesome realistic graphics for gaming. You can connect up to 3TB (maybe more) of external storage including a microSD slot. You may add HUNDREDS of channels and games because it has 16GB built internal Flash hard drive and 2 GB of memory. Plus it comes with 4K streaming and a built in 3D graphics chip. You may search the web with a browser. You can use facebook, skype, Amazon, Hulu, Netflix, NanoFlix, Vodwiz, Crackle... You can even VIDEO chat! the list is endless.
The Chromecast does none of this and it never will. It just doesn't have the memory, hard drive or power capacity.
SO IMO, the Chromecast should not even be compared to the Nuvola
They are not even close to being the same product. It's like comparing your internet browser with an entire computer. The Nuvola is hands down 100% a COMPUTER. The Chromecast is just a stick with 3 channels you can stream. Huge difference.