Gala Games is a gaming platform powered by the GALA token. It is building an ecosystem of NFT-based blockchain games.
What is Gala?
- Gala Games is developing a full range of different blockchain-based games.
- Each of the games which Gala Games create are classified as social games, which are focused on building relationships and connecting with other players.
- The goal of the platform is to provide players with games that give them true ownership of their in-game items through the usage of non-fungible tokens (NFTs).
- The native utility token used within the Gala ecosystem is known as GALA. It is used as a token for purchasing items, peer-to-peer payments, and rewarding nodes.
- Users can contribute to the Gala Ecosystem by running what is known as a Gala Node, where they are required to purchase a license, and they will be able to run the node software from their home PC, which will get the rewards in the form of GALA tokens.
|Total Token Supply||35,240,112,493|
|Current Circulating Supply||See Coinmarketcap|
|Market Capitalisation||See Coinmarketcap|
|Token Creation Date||September 2020|
|Can it be mined?||No|
Who is behind Gala?
Gala Games was founded by Eric Schiermeyer, who is also the founder of a popular mobile gaming company known as Zynga.
Gala Games was launched in 2020 with the goal of creating a blockchain-based gaming network that gives players more ownership over the games they play.
Alongside the founder, there is a team of 60 developers, with over 1 million active users on a worldwide scale.
What is the purpose of Gala?
Gala Games aims to provide players access to play-to-earn and blockchain-powered games with player-owned assets. It was originally built on the Ethereum blockchain. However, it has also leveraged the pNetwork decentralized application to bridge the token to the Binance Smart Chain, where it becomes a BEP-20 asset allowing players to reduce transaction fees when using GALA tokens.
- Gala Games features a built-in marketplace where players can sell or buy in-game items.
- Within this built-in marketplace, the items are divided into six rarity classes, including common, uncommon, rare, epic, legendary and ancient, all of which can be bought or sold through the usage of multiple cryptocurrencies due to the CoinPayments integration.
- This allows users to source liquidity for the things they do in-game or purchase new items that can ultimately improve their gaming experience.
- The Gala Network is community-driven by nodes that help power the platform. By running Gala Nodes, users receive rewards such as GALA as well as limited-edition NFTs and other opportunities.
- The Gala Node ecosystem consists of a triple-proof node system, which involves Proof-of-Work (PoW), Proof-of-Stake (PoS), and Proof-of-Storage (PoS).
- Proof-of-Work provides hashing power to the system, Proof-of-Stake verifies the transactions on the network, while Proof-of-Storage provides storage capacity to the network.
- There are currently five different games on Gala Games, including Mirandus, Spider Tank, Town Star, Fortified, and Echoes of Empire.
- Even though users will have full ownership of their NFT assets, these will all only hold value (or hopefully appreciate) with the overall adoption of the games and the GALA network as a whole.
- There is a lot of competition within the play-to-earn and blockchain based game space, which could ultimately result in a lot of other games that run on other platforms.
News and Updates:
- Gala Games planned an event known as the Galeverse. The goal here is to provide players with a variety of different and unique worlds to explore, all of which are built from the concepts of different Gala Games titles. There are early access releases, with VIP entertainment, wining, and dining.
- Wemade Tree and Gala Games signed an MOU, where they essentially agreed to work together on current and future projects designed to promote worldwide growth and awareness for the blockchain gaming space.
- The Gala Games team made great strides towards the completion of the in-house blockchain known as the Gala Chain. So far, this has been known as the Treasure Chest, and it will become known as the GalaChain from now on.
- Once GalaChain releases, players will be able to transfer items or convert tokens from GalaChain to ETH as well as send items or tokens to the inventories of other players. GalaChain will be a completely separate blockchain where items and coins are minted.
Community & Whitepaper Links:
*As cryptocurrency and digital tokens involve high risks, investors may lose all their investment money and should study information carefully, making investments according to their own risk profile.
dYdX is a DeFi protocol focusing on perpetual contracts products built on top of the Starkware layer-2 network.
ApeCoin is the famous NFT project, Bored Ape Yacht Club (BAYC)’s native token. It works as a utility and government token powering the APE ecosystem.
Convex Finance (CVX)
Convex Finance is a DeFi platform designed to provide additional yield and ease of use to the stakers and liquidity providers of CRV tokens.