Gala Games entered the blockchain gaming industry in 2019, following the success of GameFi and Axie Infinity. This platform focuses on play-to-earn (P2E) blockchain gaming and aims to revolutionize the sector with its technology development and innovation. The global market size for blockchain gaming surpassed $4.6 billion in 2022 and is projected to reach approximately $65.7 billion by 2027.
Gala Games offers players a wide range of blockchain games that incentivize them to earn cryptocurrency and nonfungible tokens (NFTs) as in-game rewards. These NFTs allow players to own items within the game, such as strategic tools, physical accessories, and land. All items can be acquired using the native GALA token. GALA is not only used for purchasing items but also for governance voting and incentivizing node operators.
Gala Games is a blockchain gaming platform that allows participants to play, stake, and sell assets while competing with each other. The platform utilizes blockchain technology to ensure network security and offers decentralized video games that enable players to have fun while earning rewards, including NFT prizes.
Developed on the Ethereum blockchain, Gala Games provides players with P2E games, an NFT marketplace, and the ability to store and distribute music and film products. The platform relies on distributed user-owned nodes to enhance security and facilitate its development.
Players and node operators are rewarded with the GALA ERC-20 token for their contributions to the Gala Games network. This token is essential for participating in games, trading NFTs, and casting governance votes.
The Gala Games ecosystem offers various blockchain games developed by both in-house developers and external partners. These games include real-time strategy (RTS), multiplayer online battle arena (MOBA), and role-playing game (RPG) titles. Players are rewarded with GALA cryptocurrency and NFTs for their participation on the platform.
NFTs represent in-game items that players can actually own and trade on the Gala Store and OpenSea, one of the largest NFT marketplaces in the world.
Although Gala Games was initially developed on Ethereum, the Gala team launched its own blockchain, Project GYRI, in February 2022. This blockchain aims to transition from a permissioned platform to a more decentralized one for maximum autonomy in peer-to-peer value transfer.
One notable feature of Gala Games is its incentivization of players to run their own nodes. By doing so, players have the opportunity to earn GALA cryptocurrency, limited edition NFTs, and contribute to the ecosystem’s growth. Operating a Gala node requires users to purchase a license for around $100.
The Gala Games platform operates through a distributed network of nodes, ensuring decentralization rather than relying on a central server controlled by a single entity. These nodes contribute to the ecosystem by offering computational resources, voting on community proposals, and guiding the network’s development. There are four types of nodes: Founder Nodes, Game Nodes, Player Nodes, and Film Nodes.
Gala Games was founded by Eric Schiermeyer, Michael McCarthy, and Wright Thurston in 2019. Schiermeyer previously co-founded Zynga, an online gaming platform known for popular games like Farmville and Mafia Wars. Gala Games has secured partnerships with Flare, Mazer Gaming, Bitrue, Brave, Ember Games, and AMC, which have helped promote the project and increase its market penetration.
The GALA token serves as a medium of exchange within the Gala Games ecosystem. It is used to purchase digital assets, including NFTs, and can be an Ethereum-based ERC-20 token or a BNB Smart Chain-based BEP-20 token. The GALA token also functions as a reward incentive for Founder Node operators and a governance token for voting on future developments.
To purchase GALA, users can utilize platforms such as Polygon and bridge the token to the BNB Smart Chain for better trading fees. Gala’s total supply is approximately 50 billion, and new GALA tokens are distributed daily to Founder Nodes and the Gala Games Conservatorship. The daily issuance is halved each year, and as of July 2023, slightly fewer than 4.3 million tokens were issued.
Players can earn GALA within games, while investors can buy GALA from various cryptocurrency providers, including exchanges like Kraken and Binance. It’s important to have an account with the chosen provider and complete the identity verification process to acquire GALA. After purchasing the token, users can store it in a private and secure wallet.
Whether Gala Games is a good investment or not depends on the investor’s research and assessment. The blockchain-based gaming industry is expanding, and GameFi is expected to play a significant role in the future of entertainment. Gala Games has received funding from C2 Ventures and Binance’s Accelerator Fund, indicating investor confidence in the project’s reliability, opportunities, and innovation. The future of GameFi looks promising, with blockchain technology enhancing security and decentralization, leading to widespread optimism in the financial world.