15 Feb 2022
GALA
Market Discovery of the most influent markets in the cryptocurrency world.
What is Galagames (GALA) and how does it work?
Gala Games is a gaming ecosystem where players can earn money by playing games. The Gala network supplies the market with decentralized gaming solutions that empower the players in new ways. As these solutions merge gaming and finance, they are referred to as 'GameFi'. Initially built on the Ethereum blockchain, Gala Games leveraged the p.Network Bridge DApp to bridge the GALA token to Binance Smart Chain as a BEP-20 asset. This allowed players to reduce transaction fees when spending their GALA tokens.
What makes Gala games unique is that the platform, built on blockchain-powered solutions, provides players with true ownership of their in-game items by using non-fungible tokens (NFTs). Originally launched in 2020, the platform was one of the few that would allow play-to-earn, by rewarding players for playing their range of games with GALA tokens. Gala has always chosen to prioritize the quality of their games over the quantity and remained an ecosystem of player-owned and controlled games, each of which offers something different to engage the audience.
Gala games, similarly to other game stores such as Steam, features a selection of games from which users can pick and play. However, unlike other stores, all games are 100% free to play and accessed through a decentralized application (dApp), making them blockchain games.
Some of the most popular games by user base are the following:
As well as the gaming ecosystem, Gala also has a NFT store, which supports the different player owner in-game assets obtainable throughout these different games. These items are usually divided into six classes based on rarity: Common, Uncommon, Rare, Epic, Legendary, and Ancient. All items can be purchased and sold using several cryptocurrencies, as a result of the integration of the platform with CoinPayments.
The platform uses its own native utility token, known as GALA. GALA coin is used as the main digital asset in the ecosystem to purchase items (NFTs), make peer-to-peer payments, rewarding nodes and more. Users can also contribute to the ecosystem by running a node, which requires buying a license. By running a node users can earn Gala tokens or rare NFTs. It currently costs around $13,000 to run a node and the amount is capped at 50,000 nodes.
Some of the most popular games by user base are the following:
- Mirandus: A fantasy RPG adventure where players battle monsters in a variety of locations and build their land to earn revenue;
- Spider Tank: Spider Tank is a multiplayer online battle arena (MOBA) game that allows players to duke it out on a variety of maps using their spider tanks and various armaments;
- Town Star: A town building and development game that allows players from all over the world to compete to earn NFTs;
- Fortified: A PvP tower defense game that sees players put their strategies to test using a variety of player-owned assets;
- Echoes of Empire: An epic sci-fi strategy game that sees players wage war over the scarce resources scattered throughout the universe.
As well as the gaming ecosystem, Gala also has a NFT store, which supports the different player owner in-game assets obtainable throughout these different games. These items are usually divided into six classes based on rarity: Common, Uncommon, Rare, Epic, Legendary, and Ancient. All items can be purchased and sold using several cryptocurrencies, as a result of the integration of the platform with CoinPayments.
The platform uses its own native utility token, known as GALA. GALA coin is used as the main digital asset in the ecosystem to purchase items (NFTs), make peer-to-peer payments, rewarding nodes and more. Users can also contribute to the ecosystem by running a node, which requires buying a license. By running a node users can earn Gala tokens or rare NFTs. It currently costs around $13,000 to run a node and the amount is capped at 50,000 nodes.
Coin Analysis
Last update 7/2/2022
Since launching on Binance, Gala games price, as seen on GALA tradingview and GALA coingecko pairs, has grown exponentially reaching ATHs just a few weeks later. The crypto initially launched around $0.02, but this price level did not last for long; and after a few months of price increases and lateral movement, it finally exploded and grew as much as $0.84, or 42x from the launch price. However, after reaching ATH price crashed as much as 80% coming back down to historical support levels.
GALA/BUSD daily candles chart
Ever since we saw a bounce with Gala price pushing back above the next support level of $0.3. It currently has re-traced and it sits between its 20EMA and 50EMA on the daily, healthy sign that could signal more upwards movement. If this level holds it's likely to see price pushing above the $0.4 resistance level within the next few weeks.
Recent News about GALA
In recent GALA crypto news, GALA has announced a partnership with legendary Gala games NFT collector and curator 888, being named as a Guardian in the inner circle of the Galaverse. According to the announcement, the 888 Inner circle is expanding with 88,888 new memberships being released. Each new guardian will receive 8,888 tokens that correspond to their unique Real. These tokens will provide their holders with a lifetime membership to the 888 Inner Circle, which will include perks like access to presales and VIP drops, private meetups, AMAs, giveaways, exclusive curated art collections, and more.
— Snoop Dogg (@SnoopDogg) February 10, 2022
Additionally, Gala games announced it will invest a further $5B into expanding its services. This expansion will start with pouring capital into Gala music crypto, as well as movies and theme park NFTs. Recently the efforts to expand Gala music have started with a Gala Snoop Dogg collaboration, where the artist dropped Stash Boxes that, once purchased, allow fans to own NFTs of the album of the artist. Additionally, more resources will also be allocated to Gala bingo games, where users can play their favorite online bingo games whilst paying with Gala.
GALA is available for trading on yanda.io dApp.
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Author: Matteo Poole
info@yanda.io
info@yanda.io
