Blockchain-powered and Play-to-earn games with player-owned assets are nothing new within the cryptocurrency industry. However, Gala Games features a few tricks up the sleeve that arguably helps it blaze its trail during this increasingly crowded space.
Here, we take a glance at a number of its most outstanding distinguishing features:
Some of the top exchanges for trading Gala (GALA) currently on centralized exchanges (CEX) include Binance, OKEx, Coinbase Exchange and BtcTurk PRO. You can find others listed on the CoinMarketCap crypto exchange page.
Eric Schiermeyer founded Gala Games. He was the co-founder of Zynga a famous mobile game and social organization. Below Schiermeyer's administration, Zynga started popularizing achievements like Farmville, Poker and Mafia Wars. He also has a reputation for working on the cutting edge of gaming, launched Gala Games in July 2019 and give players more ownership of their games.
Gala Games aims to take the gaming industry in a different direction by giving players back control over their games. Its mission is to form "blockchain games you will need to play." It plans to reintroduce creativeness into games.
Players can own non-fungible tokens (NFTs) and influence the governance of games within the Gala Games ecosystem. The Founder's Nodes voting mechanism allows players to manage what games Gala should develop and acquire funding. Besides buying NFTs for specific games, Gala Games also utilizes GALA – its utility token. So far It has released one playable game – Town Star and an NFT collectable series – VOX. It plans to release more features in the future, like a fantasy RPG game, a sci-fi strategy game and a tower defence game.
Since launching in 2019 It has grown to 1.3 million monthly active users. Currently, 26,000 NFTs are sold with the most expensive piece valued at $3 million as previously mentioned.
Purpose of GALA token
The GALA token is the primary cryptocurrency employed in the Gala Games Ecosystem. Learning about what this token is and what it does is essential in understanding how to use it.
Gala Games is somewhat almost like the GOG or Steam store. However, unlike these stores, all games are 100% free-to-play and are accessed over the blockchain through a decentralized application (DApp).
Gala Games currently has 5 games available:
Players will Find A Fully-Fledged NFT Store Which Supports All Of The Player-Owned In-Game Assets. This stuff is Divided Into Six Rarity Classes: Common, Uncommon, Rare, Epic, Legendary And Ancient. They all can be Bought Or Sold In Multiple Cryptocurrencies because of Its Integration With CoinPayments.
Before choosing a project to invest in, it is essential to consider the metrics of a project. One of the most important details is the economic aspects that we will delve a little deeper into in the following section.
The GALA token encompasses a fixed maximum supply of fifty billion units. Out of this near 7 billion GALA are currently circulating. This represents ~14% of the whole total.
According to the official GALA documentation, 17,123,286 GALA are distributed every day — 1/2 which matches the founder's node operators. In contrast, the opposite half goes to the Gala Games conservatorship.
Like Bitcoin and many other cryptocurrencies, Gala Games included a halving cycle in its schedule. Its emission is halved annually on July 21. the subsequent halving is scheduled for July 21, 2022.
As of the time of writing on Nov 29, 2021. In the last 24 hours, the trading volume has been about $2,117,329,349 meaning this amount of Gala (GALA) has been traded and circulated. GALA’s Return On Investment (ROI) has been 260,563% over the last year. Very impressive! It excelled in the 'Polygon Ecosystem, Play To Earn, Non-Fungible Tokens (NFT), Gaming' categories which had 4347% growth over the past year. Gala crypto market had 24586% growth over the past year. GALA's market cap is $5,204,773,953 billion and its rank is #43.
Also, the popularity chart indicates how fast price is affected by growth in popularity. About GALA's popularity, their Twitter users had a 374% growth rate. It shows that GALA's social media networks did their job nicely!
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