What is Gala crypto (GALA)?
Gala crypto or GALA is the native utility token of Gala Games. Users can share Gala crypto with each other, and they are in complete control of its utilization. Gala crypto powers the entire Gala games ecosystem.
By assisting the ecosystem that allows games to run, Founder’s Nodes are able to earn Gala crypto “GALA”. Founder’s Nodes are the foundation of Gala games ecosystem. The top players in Town Star, the first game created for the Gala Games Ecosystem, receive rewards in GALA.
GALA is a non-refundable utility token which will be the primary means of exchange inside the Gala Games ecosystem. The purpose of introducing GALA is to offer participants that engage within the Gala Games ecosystem a simple and secure method of payment and settlement (for instance, payment of digital goods or in-game items).
Gala games is the blockchain based game developers. It is one of the fastest growing blockchain game development company. Gala games want to alter the prevailed gaming tradition by allowing the gamers to have the ownership of the gaming experience. They want to create the blockchain games that gamers actually want to play.
There are now multiple games available on the Gala platform: Town Star, Mirandus, Spider Tanks, Fortified, and Echoes of Empire. Users can choose any of those games and play them without paying any costs.
Town Star is their most well-known game. As the game goes on, players can develop their economy, gather resources, and produce their crops in this simulation game.
Gala games background
As the internet has grown more widely used and physical media has been gradually phased out, gamers and consumers in general have been losing control over their material.
Players can purchase skins and other stuff in many games using in-game currency that demand real-world cash. Players may now design their avatars and get uncommon stuff thanks to these systems, which has given them a fresh experience.
These in-game products can cost gamers hundreds of dollars, and they can be taken away just as simply as they can be bought. Players may lose all the resources they have paid for if they are banned by a game administrator. Everything completely vanishes, wasting all the time and money spent acquiring it. The player now has nothing, while the gaming corporation keeps all the money.
Although players can buy things, they don’t really own them like they should. Players can only purchase the right to use an item; they can never fully own it. And that’s the problem that Gala Games aims to solve.
Ambition of Gala games
Gala games strongly believe in breaking down barriers and allow the players for their rightful control over the games with decentralized ecosystem. Players now have control over the Gala Games roadmap in addition to owning the in-game products they purchase thanks to decentralization.
Distributed voting mechanisms will be used to involve users and node owners in choosing what games should be added to the platform or supported by the decentralized Gala Games ecosystem.
Also read about: All you need to know about Fly crypto (Flycoin)
About Gala games principles
They think our games should not be able to see the blockchain. Whether players think of themselves as blockchain experts, they all can enjoy the games’ straightforward gaming mechanics.
Owned by players
Gala games allow winners to fully own their winnings. A magical blade that you acquire through play on the Gala Game Platform is yours. Your possessions, including any inherited status, are verifiable assets on the blockchain that you may trade with other players or use for in-game purposes.
They don’t create video games in a vacuum; instead, they frequently interact and run hypothesis by their Discord community. They develop with a vocal community whose suggestions influence the design of each game.
Powered by the people
The player-owned Node Ecosystem is the foundation of the Gala Games Network. Users much like you run Gala Nodes from their personal computers to support the Gala Network.
Gala games ecosystem
Gala Games wants to throw open the doors and return the power to the gamers. This is taking place in Town Star by Gala Games. One example of an in-game possession is a CraneBot. This object can aid in the game’s building process and can be traded, sold, or given away at any time to another player. This is the strength of non-fungible tokens (NFTs), which are made possible by blockchain technology.
A CraneBot is a non-fungible token which is an ERC token (Ethereum Request for Comment) on Ethereum blockchain. It exists on the Ethereum network and is unrelated to Gala Games in any way. There is no NFT that Gala Games may take away from a gamer. Players do not have to worry about having anything taken away from them if they are banned from Town Star. They still own whatever items they have bought.
This NFT item is not restricted to use in Town Star. If a firm decides it wants to incorporate a particular object into its game, it can use this item in another game. This increases the utilization of players’ NFTs, which Gala Games wishes to promote. A game maker might create one that allows users to view their NFT objects in 3D. They might explore the area on their CraneBot or watch their Wheat Stands as the wind blew across them. There are countless options.
Gala Games wants players to have a say in the game’s roadmap in addition to allowing them to own their in-game products. They intend to include people in selecting the games they should create and support by using distributed voting techniques. The voting system used by the Founder’s Nodes accomplishes this. If the outcome of the vote was “No,” the game would have been excluded from the Gala Games ecosystem. Founder’s Nodes had the option to vote to admit Fortitude.
Key features of Gala games
Through the use of NFTs, Gala Games is a company that develops blockchain-based games that give players real ownership of in-game products.
The basic goal of Gala Games is to break open the gates and return the power to the players.
Gala games has its own native utility token called as Gala crypto or “GALA”. Token holders that are a part of the Gala Games ecosystem now have a simple way to make payments. Players can use Gala crypto in place of in-game money to buy in-game products and get in-game awards.
Gala games trying to create positive difference in our environment
In order to make a significant impact on the environment, Gala Games has teamed with the 501(C)3 non-profit One Tree Planted. Gala Games is aware that, with good reason, the environmental impact of some forms of blockchain technology is being closely examined. Gala Games is fully committed to going carbon negative and staying there.
Commitment 1: Restore capacity
They are assisting in the restoration of our natural world through their collaboration with One Tree Planted. For each order placed on their website, they are planting one tree as part of their effort.
Commitment 2: Carbon negative
They are dedicated to becoming and remaining carbon negative across the board for all of their products, including NFTs, games, & nodes.
Commitment 3: The Next-Gen blockchain
The planned Project GYRI and the Gala Games Node Ecosystem are both intended to be the greenest blockchain ecosystems on the earth.
How is Gala crypto different from the rest?
The following features make the Gala crypto & Gala games stand out from the rest:
Gala games is driven by their community. Gala Games Team frequently solicits user input and uses it to test out new concepts. Furthermore, as regular players run Gala Nodes from their personal computers, the Gala Games Network is reliant on the player-owned Node Ecosystem.
Support for multiple games. There are currently many games available and many more under development. Players can choose from a variety of game genres, including RPGs, tower defense games, and strategy games.
Players can easily buy and sell in-game products to enhance their gameplay and efficiency.
Founders of Gala crypto / Gala Games
Eric Schiermeyer founded Gala Games. Before this project, he was a founding member of the well-known social and mobile gaming developer Zynga. When Schiermeyer was in charge of Zynga, they made some of the very popular games like Mafia Wars, Farmville and Poker.
Eric Schiermeyer, who is well known in the community for working and developing latest & greatest gaming projects, established the Gala games in July 2019. At the present, the Gala games runs their operation with more than 60 employees.
Gala crypto “GALA” Tokenomics
The total supply of Gala crypto “GALA” is about 50 billion GALA. From July 21st, 2021 to July 20th 2022: Every day at 0200 UTC, 17,123,286 GALA are issued. This GALA is split in half and given to the Gala Games Conservatorship and Founder’s Node Operators.
The GALA distribution will be cut in half annually on July 21. The daily allocation of GALA, for instance, will be 8,561,643 instead of 17,123,286 starting on July 21st, 2022.
How to obtain Gala crypto (GALA)?
You can obtain Gala crypto in following ways:
You can become the operator of a Gala games node that upholds the Gala network’s stability and security to earn daily awards.
You can also receive Gala crypto as incentives for referring to your friends. Or, you can simply buy Gala crypto “GALA” from crypto exchange market.
Also read about: All you need to know about AXS crypto
Where can I buy Gala crypto “GALA”?
According to the coinmarketcap, there are many crypto exchanges where you can go to buy GALA. Sushiswap, Gate.io, Uniswap V3, KuCoin and Bitrue are some of the crypto exchanges where you can buy GALA easily.
Historical price of Gala crypto “GALA”
After being published in the middle of the month on the Binance (BNB) and Bibox cryptocurrency exchange platforms, the Gala crypto began to gain popularity in September 2021. From its previous all-time low of $0.00022 on December 28, 2020, its price soared to $0.113 on September 23, 2021, an increase of 51,594%.
The price of GALA fluctuated sideways between mid-October 2021 and mid-November 2021 as a result of updates to Gala Games’ inventory that made it much simpler to move items from the platform’s ecosystem to Ethereum and the signing of a memorandum of understanding between Gala Games and Wemade Tree (the blockchain subsidiary of Korea-based gaming giant Wemade).
The Gala crypto increased by 192% after it was announced on November 15, 2021, that the firm would release the first batch of Town Star Game Node licenses in a restricted amount. It went from $0.13 to $0.37 a week later.
Also read about: All you need to know about Audius crypto
Following the announcement of the introduction of a new series of its VOX NFTs on November 28, 2021, the token’s price managed to maintain a steady growth rate and soared to $0.71, still its all-time high.
Despite the general enthusiasm around play-to-earn platforms, which, according to data published by DappRadar, exceeded a record $1bn in NFT trading volumes in November, success for the GALA coin did not endure long.
GALA’s value decreased by 29% to $0.51 from the time it reached its peak at the end of November to the third day of December 2021.
Despite establishing a $100 million blockchain gaming fund in collaboration with C2 Ventures and getting ready to launch Phase 2 of the nodes ecosystem at the beginning of January, Gala crypto continued to decline throughout the course of the following month until it reached $0.18 on January 22, 2022.
Then, for a little over a week, the GALA meandered in a neutral direction before increasing by 110% from its 22 January value to $0.38 on 8 February 2022 as interest grew in the impending release of 8,888 membership NFTs in the Flare universe, where Gala Games had connected with the Flare Network.
Some stats on Gala crypto “GALA”
|Price (20th Sept 2022)||$0.04314|
|Fully Diluted Market Cap||$1,519,315,775.49|
|Circulating Supply||6,97,72,05,436 GALA|
|Total Supply||35,24,01,12,493 GALA|
Also read about: All you need to know about Reef Cryptocurrency
Gala crypto price prediction
Looking at the price predictions for the future, we can observe that they are generally optimistic from the top crypto specialists.
With a 5-year investment, the revenue is anticipated to be over +330%, according to WalletInvestor, who thinks Gala is a fantastic long-term investment.
DigitalCoinPrice is also certain that Gala crypto price will go up in the future. In one year, GALA could go up to $0.272 per coin in 2025.
In another prediction, Coinskid recognizes the GALA potentials. They predict that Gala crypto might reach $0.0612 in December 2022 and, perhaps, $0.0701 in September of the following year.
CoinsKid also said that Gala might be valued $0.1330 in a year and then predicted that it will reach $0.1866 a year later in 2025. The website claimed that by September 2026, the token may drop to $0.1422, before perhaps ending the year at $0.1981.
In the meantime, CaptainAltCoin predicted that the price of the GALA token will likely take a bearish turn soon, falling to $0.0447 in September 2022, before maybe rising to trade at $0.0732 in September 2023.
The website predicted that GALA’s value by 2025 may be at $0.1991, but by September 2027, when it might only be valued $0.1120, there could be a significant decline. The website then predicted that GALA would cost $0.4977 in 2030 and suggested that it would reach $0.9953 in 2040.
Disclaimer: The price prediction mentioned above are all highly speculative and is not guaranteed. Remember, before making an investment, you should always conduct your own extensive investigation. Even cryptocurrencies with large market caps have shown to be susceptible to the current bear markets. Investors should always buy no more than they can afford to lose and be ready to experience losses. We are not providing any investment advice here. All the information you find here in Technologyinsight.tech are all for educational purposes only.
Also read about: All you need to know about Tellor crypto (TRB)
Is Gala crypto a good investment?
In my personal opinion, based upon Gala games high ambition, novel objective, its roadmap and founders behind the company, yes Gala crypto can be a good investment. Having said that, investment in cryptocurrency is very risky, and the crypto market is still very volatile in nature. So, please do your own research before investing.
Disclaimer: I bear no responsibility whatsoever for the investment decision any reader makes. We are not providing any investment advice here. All the information you find here in Technologyinsight.tech are all for educational purposes only.