Newzoo predicts global game revenue will hit $200 billion in 2024. Therefore, GameFi's growth potential is still enormous. Discovering investment possibilities in the GameFi is critical right now.
In this article, we would like to introduce Gala Games known as an NFT-focused gaming startup. We'll be covering the following topics:
- What is Gala Games? How does Gala Games work?
- GALA Tokenomics and How/Where to earn and store GALA tokens?
- Roadmap & Updates.
- Team members, Investors, and Strategic Partners.
Let's explore the potential of Gala!
What is Gala Games?
Gala is a gaming and NFT platform that attempts to create a blockchain gaming ecosystem that runs on Ethereum and BSC (Binance Smart Chain). Gala was launched in 2019 and is powered by the world's largest independent node network, which was created to empower the gaming community.
How does Gala Games work?
The highlight of Gala is its vision to make blockchain games you'll actually want to play. Currently, most of the GameFi are just in basic form, like click-to-earn. There are very few types of adventure and role-playing games on the GameFi market. Gala wants to bring the exciting experiences of traditional games to players over the years.
Multiple Funny Games
I was particularly impressed with the list of 8 games that Gala recommended during my research for an article about Gala, including The Walking Dead: Empires, Mirandus, Legacy, Last Expedition, Echoes of Empire, Spider Tanks, Town Star, and Fortified. This includes RPG (Role-playing game) games, space exploration games, tower defense games, and more.
All of the games in Gala feature excellent graphics. It allows players to unwind and enjoy the game. Gala employs simple game mechanics that all participants may enjoy.
Owned by Players
In collection games, ownership is crucial. The entire value proposition collapses if you don't own your collection. This is why digital media has struggled in this area, while games with physical assets, such as card games, have survived.
Players have entire ownership of NFTs, which they can freely buy, sell, and use in the game. Players are given the opportunity to genuinely own anything they win in the games. It is yours if you earn or win a magical sword on the Gala Game Platform.
Players not only control their in-game products, but they also have a say in how the Gala Games roadmap grows. Players will be enlisted to help choose what games should be added to the platform.
Powered by the People
If there were two games that were out there, and they’re both fairly similar, and one of them lets you own content, and one of them doesn’t, which one would a player play. Surely you will choose option 1, which is also the orientation of Gala.
Players can become game nodes by buying at the current price of 152,274,398 GALA for one slot. Everything within the Gala Games Network depends on the player-owned Node Ecosystem.
Game Node of Gala opens up opportunities for everyone to receive rewards like GALA, limited edition NFT's and the chance to help the Gala Games ecosystem grow.
Similar to staking methods, this is also a way to create more demand for GALA tokens.
What is the GALA token?
GALA is the native utility token of the platform.
GALA Key Metrics
- Token Name: Gala Games Token.
- Ticker: GALA.
- Blockchain: Ethereum & BSC.
- Token Standard: ERC20, BEP20.
- Contract - ERC20: 0x15d4c048f83bd7e37d49ea4c83a07267ec4203da.
- Contract - BEP20: 0x7ddee176f665cd201f93eede625770e2fd911990.
- Token Type: Utility, Governance.
- Total Supply: 50,000,000,000.
- Circulating Supply: 6,977,205,436 (14/100%).
GALA Token Allocation
Half of GALA is distributed to Founder’s Node Operators, and half is distributed to the Gala Games Conservatorship.
GALA Token Release Schedule
- July 21st, 2021 - July 20th, 2022: 17,123,286 GALA is distributed daily.
- Each year, on the 21st of July, the distribution of GALA will be halved. For example, beginning on July 21st of 2022, the daily distribution of GALA will be 8,561,643 instead of 17,123,286.
GALA Token Sales
GALA Token Use Cases
- In-game currency: Using GALA, a person can buy items from within the Gala Games ecosystem, purchase card packs from other Alliance members such as Splinterlands.
- Node incentives: In return for running nodes on the Gala network, GALA tokens are rewarded to the Gala node operators.
How to get GALA Token
Own and Operate a Node: Game Node of Gala open up opportunities for everyone to receive rewards like GALA. Gala Game Nodes help to secure the Gala Games network. As a node operator, you will receive points in the Daily Distribution, which are items and GALA which have been added to your treasure chest and are awaiting minting. This is one of the best ways to support the Gala Games project!
How to buy GALA Token
You can buy GALA on listed exchanges such as:
DEX: 1Inch, PancakeSwap, Uniswap,...
CEX: Binance, OKEx, Gate.io,...
Alternatively, you can use Coin98 Exchange to swap other tokens for GALA by clicking the Swap button at the end of the article.
Learn more: How to use Coin98 Exchange
How to store GALA Token
You can store GALA on Coin98 Wallet with these steps:
Step 1: Open Coin98 Wallet & click Search Icon on the home screen.
Step 2: Search GALA Token.
Step 3: Click on the correct result at Receive Tab with a specific chain (BEP20/ERC20), copy the wallet address and send GALA to this address.
Gala does not provide a clear roadmap for the future, but recent collaboration agreements with investment firms such as C² Ventures. Gala will continue to improve the quality of its games, expand the number of games available, and spend on marketing to attract new users.
Team, Investors, and Partners
The GALA founding team consists of highly qualified and experienced blockchain professionals.
- Eric Schiermeyer is the co-founder of Zynga and Gaming Legend.
- Wright Thurston is one of the first major miners in the cryptocurrency space and holder of multiple patents on blockchain technology.
- Michael McCarthy is the Creative Director behind viral gaming hits such as Farmville 2.
- Huobi Global: Gala Games recently selected Huobi Global as its Preferred Exchange Partner. Huobi Global will provide its expertise, advising Gala projects on marketing, community building, and other core components of Web 3 growth, as well as work closely with teams to streamline future token listings.
- AMC and Ember Entertainment: Gala Games also said it partnered with AMC and Ember Entertainment to make a cross-platform survival massively multiplayer online role-playing game, The Walking Dead: Empires.
- C² Ventures: Gala Games and C² Ventures launched a $100 million fund to accelerate the development of blockchain gaming.
There are several more prominent partners who have been with Gala since its early phases of growth, such as Flare, Mazar Gaming, Bittrue, Brave, and Polygon.
Is Gala Games (GALA) a good investment?
Gala Games are quite addictive. The graphics are attractive, with bright colors, and the game isn't too heavy to cause your low-end mobile device or PC to overheat. Thus, Gala games are really very interesting games and bring real entertainment value to players.
Let's take a look at the numbers that Gala has achieved. That is really a great effort of the Gala team. I believe Gala will go even further in the future.
GameFi may continue to grow in the next years, but I don't know how blockchain gaming will grow in the short term.
However, when it comes to jumping on the latest trend or trendy cryptocurrency, caution is always advised, especially with GALA that has already risen by almost 30,000% in 2021. You have to consider how much more it can really grow, as well as how much the price has been inflated by speculation.
Disclaimer: All the information in this article is only for information purposes and should NOT be considered investment advice. Investing in Crypto contains hugely high risks, and you should only invest the fund you are willing to lose.
Mobox (MBOX): Mobox is a community-driven GameFi platform built on BSC (Binance Smart Chain) that combines the features of decentralized finance (DeFi), non-fungible tokens (NFTs), and blockchain gaming to create a free-to-play and play-to-earn ecosystem. It was launched in April 2021.
Axie Infinity (AXS): A popular blockchain game that was inspired by the massively successful Pokemon game series.
Radio Caca (RACA): The exclusive manager of Maye Musk Mystery Box (MPB) NFT and DeFi+GameFi vehicle for The USM Metaverse.
So I have provided you with the latest information from Gala Games. If you're interested in other GameFi besides Gala, please leave a comment below. Coin98 will research the projects and publish articles about them.