What is GALA (GALA)?

The Gala Games Ecosystem’s digital utility tokens, or GALA tokens, operate on the Ethereum blockchain and adhere to the ERC-20 standard. The non-refundable utility token, in particular, is cryptographically secured and used as a medium of exchange between ecosystem participants. This means that the coin can be transferred between users and that they have complete control over how it is used.

Gala Games aspires to revolutionize the gaming business by giving gamers control over their games. The goal of Gala Games is to create “blockchain games that you’ll want to play.” The idea aims to change the reality that players can invest hundreds of dollars on in-game assets, as well as countless hours playing the game, all of which can be taken away with a single click of a button. It intends to bring creative thinking into games by using blockchain technology to give players ownership over the games and in-game assets.

Gala Games has grown to 1.3 million monthly active users since its introduction in 2019, and 26,000 NFTs have been sold, with the most expensive piece valued at $3 million. GALA is awarded to owners based on a points system: running a node for at least six hours in a cycle earns one point while referring nodes that run for at least six hours earn 0.1 point.

Several open-source and cryptographically secure wallets and storage techniques can be used to access items on the Ethereum blockchain. Gala Games’ long-term ambition for the Gala Games Node Ecosystem is for numerous gaming companies to work on multiple games at the same time, resulting in a continual stream of NFTs being dumped into the node network.

Who Are the Founders of GALA?

Gala Games was created with a single objective in mind: to return power to players. The goal is to help people find freedom via play. Gala Games is here to fundamentally redefine both the gaming and blockchain spaces. It was founded by Eric Schiermeyer (co-founder of Zynga and gaming legend), Wright Thurston (one of the first major miners in the cryptocurrency space and holder of multiple patents on blockchain technology), and Michael McCarthy (the creative director behind viral gaming hits such as Farmville 2). The Gala Games crew is made up of 60 people in total.

Town Star, Gala Games’ debut game, is a deceptively simple-looking yet immensely intricate agricultural simulation in which the player constructs a farm to compete in weekly tournaments. NFTs can be used in the game to deliver bonuses in numerous places, although they are not required to play, have fun, or compete. Mirandus, a Gala Games-developed MMORPG/Adventure Simulator, aims to reimagine both the game development process and the gameplay paradigm by putting the power in the hands of the players and giving them entire control over the in-game economy.

What is GALA Used For?

GALA was created to provide a convenient and secure mode of payment and settlement between participants who interact within the Gala Games ecosystem (for example, payment of digital goods or in-game items). GALA does not represent any shareholding, participation, right, title, or interest in Gala Games, their respective affiliates, or any other company, enterprise, or undertaking. In conclusion, GALA is a blockchain gaming company that allows players to play with their non-fungible token (NFT) characters.

What is the Unique Point of GALA?

Gala Games is not a single game, but rather a collection of blockchain games that prioritize pleasure above the blockchain. Town Star, GALA’s only currently playable game, is a browser-based town simulation. Town Star is similar to SimCity in that players manage a town, but they own it.

Gala Games’ VOX collection of collectible NFT avatars. Each VOX is one-of-a-kind, with certain VOXs being rarer than others. VOX was issued for an average price of 0.0888 ETH, or around $280 at the time of writing, in the initial drop. Despite being inspired by Town Stars, VOX has more uses than just being an NFT avatar. Holders can keep GALA and earn VOXcoin in the future by playing with their VOX avatars. VOX owners also receive an FBX file, which lets users animate or 3D print their avatars in the future.

Other games are also in the works. In a fanciful medieval universe, Fortified is a player-versus-player tower defense game. The greatest tower defense strategies will be competed for by the players. Consider the following example:

  1. Mirandus is a fantasy role-playing game that takes place in a vast universe ruled by five player-monarchs. Players will be able to claim portions of the in-game landscape and own in-game assets.
  1. Echoes of Empire is a strategy game set in a war-torn galaxy. Players will be able to control areas of the galaxy and possess their vessels.
  1. Spider Tank Project is a multiplayer online fighting arena game in which users choose a “spider tank” with which to fight other players. The game is free to play, however, there will be in-game earning opportunities. It will be released in the fourth quarter of 2021.

When it comes to creating these games, community feedback is crucial. Gala Games’ Discord community is always engaging and testing assumptions. This allows users to influence the game’s direction and design.

Gala Nodes, which support the Gala network, can be run by users. They are rewarded with GALA, limited edition NFTs, and other benefits in exchange. A triple-proof node system – proof-of-work (PoW), proof-of-stake (PoS), and proof-of-storage – makes up the Gala Node ecosystem. Founder Nodes, which are tier-1 nodes based on 50,000 fully-owned NFTs, are used in PoW. These are the network’s early sponsors, and they will get NFTs and GALA from all subsequent games assigned to their node license. Through a smart contract “rental” framework, PoS is paid nodes that function for certain games. Proof-of-Storage nodes are free nodes that allow games to be entirely hosted on the node ecosystem, eliminating the need for centralized hosting services like Amazon S3.

How Many GALAs Are There in Circulation?

The maximum total supply of GALA tokens will be 35 billion. Approximately 7 billion GALA are now in circulation.

Every day at 0200 UTC, 17,123,286 GALA is distributed. The Gala Games conservatorship receives half of the GALA and the Founder’s Node operators receive the other half. The distribution of GALA will be reduced every year on July 21st. Beginning July 21st, 2022, the daily allocation of GALA will be 8,561,643 rather than 17,123,286.

How Is the GALA Network Secured?

The GALA token is based on the Binance Smart Chain (BSC) blockchain and Ethereum. The network is protected by Founder’s Nodes, which are its own set of nodes. Gala Games specifies a limit of 50,000 Founder’s Nodes to secure the network and validate in-game transactions.

The Gala Games platform allows nodes to vote on which games are launched. By purchasing an account and using it on your computer, you can run a node. Node operators are rewarded with GALA based on a point system. A node that has been running for at least six hours in a cycle earns one point, while referrals who have been running nodes for at least six hours earn 0.1 points. All of the points are tallied up at the moment of distribution, and the GALA is divided between these points.

Where Can You Buy GALA?

GALA has been listed on several crypto exchanges, however, unlike other major cryptocurrencies, it cannot be purchased directly with fiat currency. However, you may still buy this coin by first purchasing Bitcoin, Ethereum, USDT, or BNB on any significant exchange, such as Binance or KuCoin, and then transferring to an exchange that trades GALA. In this post, we will walk you through the methods to purchase GALA in detail. Before compiling a complete list, keep in mind that each exchange has its own set of costs and KYC criteria.

  • Open an account with the crypto trading platform
  • Transfer the specific amount of fiat currency to your account
  • Wait for the deposit to be confirmed and buy GALA through the trading account

Which Cryptocurrency Wallet Supports GALA?

The PTPWallet platform supports many cryptocurrencies simultaneously such as GALA. Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their GALA wallet because offers a simple and interactive interface making it easy for people to navigate its system.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp
Share on telegram
Telegram
Share on reddit
Reddit

More to explore

VGX

What is Voyager Token (VGX)?

Voyager Token is an institutional compliant cryptocurrency broker built with deep transparency and security to provide investors around the globe with a

AVA

What is Travala (AVA)?

Travala was founded in 2017 and has grown from a small start-up to the world’s leading cryptocurrency-friendly travel booking service, trusted by

Torn Token

What is Tornado Cash (TORN)?

Tornado Cash is a fully decentralized non-custodial protocol allowing private transactions in the crypto-space that was launched in May 2020. It is

Get on the VIP list!

Get company and PTPWallet updates and news sent straight to your inbox. No spam. Unsubscribe at any time. 


Get on the VIP list!

Get company and PTPWallet updates and news sent straight to your inbox. No spam. Unsubscribe at any time.