Gala Games, founded by Eric Schiermeyer on July 21, 2019, is a blockchain gaming platform that combines Non-Fungible Tokens (NFT) to create a blockchain game ecosystem that allows players to trade and own game assets with anybody on a global scale and at any time.
In other words, Gala Games aims to take the gaming industry on a whole new path by reclaiming control of the game for the players. According to the platform’s website, Gala Games’ objective is to create “blockchain games you’ll actually want to play.”
Gala Games essentially wants to shift the community’s perception of the reality that gamers can invest hundreds of dollars on gaming assets and countless hours playing the game, all of which can be taken away with the click of a button. As a result, the project aims to give players authority over the games and in-game assets and reintroduce the concept of creative thinking into the games, all using blockchain technology.
The Utility Token & Games On The Platform
GALA token or coin is the platform’s native utility token, used for various purposes, including network governance, node operator incentives, and in-game awards for players participating in the platform’s games. It can be used as an in-game currency to purchase NFTs and assets in the Gala store.
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When it comes to NFTs, you may be wondering what part they play in the entire process. In essence, users will be able to hold non-fungible tokens (NFTs) and influence game governance inside the Gala Games ecosystem. The platform’s founder introduced the Nodes voting mechanism, allowing users to vote on which games should receive financing and which games the platform should focus on developing.
As we all probably know by now, Play-to-earn games and NFTs are two of the hottest trends in the cryptocurrency industry now. They both present new ways of onboarding new users and increasing mass adoption. The specific characters of each category allow gamers to generate revenue rather than just spending money to join the community.
If you want to learn more about Blockchain Gaming, check out our related article, Let the blockchain games begin.
Returning to the issue, Gala Games, as a blockchain-focused gaming platform, allows users to use their unique NFT characters while playing the game, which in turn made Binance notice the project’s potential and prospect for profits. They announced plans and eventually listed the GALA Token on their centralized exchange as well.
In addition to purchasing non-fungible tokens for individual games, Gala Games can also use its utility token, as we mentioned earlier. When it comes to the games available on the platform, it’s worth noting that Gala Games has only been able to release one playable game, Town Star, as well as a series of NFT collectibles, VOX, while planning to release many more games in the future. Here is the list of all games by Gala:
- Mirandus is an epic fantasy role-playing game in which players battle monsters in various places while also developing their property to make money.
- Spider Tank is a multiplayer online battle arena (MOBA) game in which players battle it out with their spider tanks and various armaments on several maps.
- Town Star is a town-building and development game in which players compete for NFTs from all around the world.
- Fortified is a PvP tower defense game in which players use a range of player-owned assets to put their strategies to the test.
- Echoes of Empire is a massive sci-fi strategy game where players compete for rare resources distributed across the universe.
Gala Games has expanded to over 1.3 million monthly active users since the platform’s launch in 2019. Approximately 26000 NFTs have already been sold, with the most expensive piece costing three million dollars. Not to mention the fact that the Gala Games team now has more than sixty members.
The Gala Project has really taken off since it launched, and it has been progressively gaining speed for a few months now, while the NFT sector is also booming! Gala Games successfully completed the first sale of VOX, the platform’s primary NFT offering, on August 11, and it was sold in less than eight minutes, despite high gas prices and network congestion.
GALA could be seeking to follow the road left down by other popular play-to-earn gaming platforms like Axie Infinity with these recent efforts to deliver an update for the Town Star game and announce specifics about Spidertanks.
What Makes GALA Special?
Gala Games, unlike others, is not a single game but rather a collection of various blockchain games that prioritize a thrilling user/player experience on the blockchain. As we mentioned earlier, Town Star is now the Gala Game platform’s one of the playable games, and the best part is that it can be played in a DApp browser. Isn’t that amazing? So much value for simplicity.
The players actually control and own the town in the game, making it a far more genuine experience. VOX, on the other side, is a group of Gala NFT avatars.
It’s also worth noting that each VOX is distinct and different from the others, with some being extremely rare. Furthermore, when VOX was first released, it could distribute about 8,888 VOX for an average price of 0.888 ETH, which is roughly 3535 USD now.
In addition, when it comes to game creation, community feedback is quite important. Gala Games is noted for interacting with its community on social media channels like Discord and Telegram regularly, allowing players to impact the design and direction of the games. Users on the Discord can also run Gala Nodes, which are known to assist the Gala network in exchange for prizes such as limited edition NFTs, GALA, and a variety of other options.
Source: https://app.gala.games/games/town-star
The Gala Node ecosystem comprises a triple-proof node system that includes Proof-of-Work(PoW), Proof-of-Storage, and Proof-of-Stake (PoS). Founder Nodes, which are tier-1 Nodes based on approximately fifty thousand fully-owned NFTs, are used in PoW. These include early support for the project, which will receive NFTs from all games, and GALA being assigned to their node license.
PoS, on the other hand, are paid nodes that are known to run for specific games using a smart contract rental design architecture. Finally, what makes Gala nodes even more unique are Proof-of-Storage nodes, which are free nodes that allow games to be totally stored on the node ecosystem, eliminating the need for centralized hosting solutions like Amazon S3.
GALA Tokenomics
The GALA token’s maximum supply is set at 50 billion tokens. Approximately 7 billion GALA are now in circulation. This accounts for roughly 14% of the total. Each day, a total of 17,123,286 GALA are issued, half of which goes to the founder’s node operators and the other half to the Gala Games conservatorship, according to official GALA paperwork.
Gala Games’ emission schedule contains a halving cycle, similar to Bitcoin and many other cryptocurrencies. Every year on July 21, the emission is cut in half. The next halving date is July 21, 2022, when the emission rate will be reduced to 8,561,643 GALA per day.
What’s Next For the Gala Token?
At $0.1449 per token, the GALA token attained its all-time high value. Similarly, trade activity for the digital asset increased dramatically due to the revelation, rising from $4 million per day to over $200 million as of this writing.
There are various reasons why someone might wish to buy the GALA token right now (beyond mere speculation). Buying in-game assets, running a node, and optimizing in-game earnings are just a few examples.
However, the vast majority of Gale Titles’ games are still unavailable, like we mentioned earlier. Four of the five games are still in production, with Town Star being the only one ready to play (in its beta version). With 1.3 million people eager to sign up for these games, it’s evident that the GALA token might see a significant increase in demand.
Which products support GALA?
| Send/Receive | Trading | |
|---|---|---|
| Coinbase | ✖️ | ✖️ |
| Pro | ✔ | ✖️ |
| Wallet | ✔ | ✖️ |
What regions support GALA?
| US | NY | CAN | EU | UK | DE | SG | JP | |
|---|---|---|---|---|---|---|---|---|
| Coinbase | ✖️ | ✖️ | ✖️ | ✖️ | ✖️ | ✖️ | ✖️ | ✖️ |
| Pro | ✔ | ✖️ | ✔ | ✔ | ✖️ | ✖️ | ✖️ | ✖️ |
| Wallet | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✖️ |
Crypto to fiat trading pairs
| US | UK | EU | |
|---|---|---|---|
| USD | ✔ | ✖️ | ✖️ |
| GBP | ✖️ | ✖️ | ✖️ |
| EUR | ✖️ | ✖️ | ✔ |
Note: Coinbase Wallet does not support direct bank transactions. You’ll need to transfer your crypto to Coinbase.com or send it to an external address in order to cash out.
Crypto to crypto trading pairs
| USDC | BTC | ETH | USDT | |
|---|---|---|---|---|
| GALA | ✖️ | ✖️ | ✖️ | ✔ |
See the full list of countries that Coinbase supports for crypto-to-crypto trading.
Note: Only assets hosted on the Ethereum blockchain can be converted through the Coinbase Wallet mobile app at this time. Learn more about trading on Coinbase Wallet.
How many confirmations are needed for GALA?
GALA requires 35 network confirmation. Learn about transaction confirmations.
Which blockchain network hosts GALA?
GALA is hosted on Ethereum.
What are the minimum and maximum withdrawal amounts?
Coinbase has implemented safeguards to ensure a healthy and efficient network both on-chain and through our platform.
These safeguards include both minimum and maximum amounts for each cryptocurrency we allow customers to send through the blockchain.
Minimum: GALA
Maximum: GALA