GALA is an ERC20 utility token that powers the Gala Games, a blockchain gaming platform founded in 2019. The asset is cryptographically secured by the Gala Games ecosystem. Members of the ecosystem can transfer tokens between each other as they have full control over the asset.
At the time of writing, Gala Games has already acquired over 1.3 million active users. As the token soared in value in November 2021, the growth of the customer base has accelerated, too.
The company strives to create exciting blockchain-based games giving players a higher level of control compared to centralized alternatives. The founders consider it unfair when players spend hundreds of hours on a game, invest money in it and then lose all their efforts because of some issues on the platform. Rules established by Gala Games turn ecosystem players into true owners of non-fungible tokens with growing value.
Gala Games aims to create one of the fastest-growing game communities claiming that the decentralized platform’s economy is going to rise in value considerably.
The number one priority of the team is to develop blockchain-based gaming technology that enables players to be the owners of the items they buy. The players on the Gala platform can not only own NFTs but also affect the policy of the platform with their help. They can decide how to run games within the ecosystem and vote for them.
The platform tries to unite passionate gaming developers and enthusiasts in a single network, and create a broad and integrated ecosystem with their assistance. The teams developing the games get benefits from joining the Gala Games ecosystem. However, they should be ready to give ownership rights back to the players after releasing their products as this is the key principle of the Gala Games ecosystem.
At the time of writing, Town Star is the only playable game on Gala, with other games in development. The game has a reward structure, in which the top 100 players get rewards in GALA tokens for their achievements in the game.
Gala Games acts as a publisher, game store, and NFT marketplace. Five free-to-play games are listed on the platform at the time of writing but more are coming soon. Apart from Town Star mentioned earlier, the list includes Spider Tanks, Echoes of Empire, Fortified, and Mirandus.
Gala Games technologies
The Gala Node ecosystem presents a triple-proof mechanism that unites a proof-of-stake, proof-of-work, and proof-of-storage protocol.
In August 2021, GALA was successfully bridged to Binance Smart Chain (BSC) via pNetwork, a solution for cross-chain interactions between dApps on multiple networks. It’s become possible for users to move GALA over to BSC through pNetwork Bridge dApp. Also, it gives access to decentralized exchanges created on the basis of BSC. Moreover, the bridge enables sending and trading the token with much lower gas fees compared to Ethereum thus contributing to the growth of the ecosystem. To make use of all these benefits, players should only connect MetaMask to the BSC network to enable the cross-blockchain transfer of funds.
The security and the smooth work of the platform are provided by the Founder’s Nodes that support the ecosystem and get rewards for their service. The operators of the Founder’s Nodes buy nodes to get the nodes license in order to earn rewards. Also, the active members of the ecosystem earn GALA on a daily basis . These are users who run Founder’s Nodes, refer users to buy Founder’s Nodes, or just play games on the Gala Games platform thus helping to support and promote the network. Even simple playing and sharing the experience of the game on social media can be helpful for the promotion of the system. This is a real tool in the hands of users that can affect the price of the token. The distribution of GALA takes place at 2.00 am UTC daily.
The operators should have their Founder’s Node online to participate in the random item distribution of NFTs and GALA. They also get GALA if they remain online for at least 6 hours a day.
GALA token and other financial details
GALA is used as the medium of exchange between the members of the Gala Games ecosystem. It was introduced to facilitate transactions between users and make their payments secure. This is a universal means of settlement between participants interacting with each other within the Gala Games ecosystem.
The participants can use the token when buying in-game items. They can also spend GALA to buy NFTs and card packs from the alliance members, such as Splinterlands. Native tokens give a possibility to activate Founder’s Nodes. Developers plan to add other use cases for the token in the future. The asset doesn’t represent shareholding or some interest in Gala Games, though, as it doesn’t entitle holders to any dividends, fees, or revenue.
The value of NFT depends on its level of rarity. NFTs feature six levels of rarity from common to ancient. The list also includes common, uncommon, rare, epic, and legendary levels of rarity.
GALA can be stored on an open-source and keyphrase secured wallet created specifically for this purpose. Only account owners have access to their wallets and the assets stored on them.
No ICO has ever been conducted to distribute GALA. The tokens can be purchased on numerous exchanges including Binance, Bybit, Coinbase, Coinbase Pro, Gate.io, LBank, Huobi, Kucoin, OKEX, Poloniex, Uniswap, Sushi Swap, and more. All these exchanges use the Ethereum network for trading GALA. Those who want to buy the token on the exchange using the Binance Smart Chain Network should apply to Pancake Swap that relies on BSC for that.
Gala Games Team
The platform was founded by Eric Schiermeyer, CEO. He was also previously one of the co-founders of the mobile games company Zynga that stands behind the creation of such popular games as Mafia Wars, Farmville, and others. There Eric focused on monetization and growth. Earlier, he was Chief Marketing Officer in Carnivore, Inc., a computer software company. Also, he was an investor and adviser in numerous projects.