Gala Games is a blockchain gaming platform that is changing the way people play and interact with video games. It allows players to own their in-game items and earn rewards for their gameplay.
The platform uses its own cryptocurrency, GALA, to power its ecosystem.
What is Gala Games?
Gala Games is a platform that hosts a variety of blockchain games. These games use blockchain technology to give players true ownership of their in-game items.
This means that players can buy, sell, and trade their items with other players, just like they would with physical items. Gala Games also allows players to earn rewards for their gameplay in the form of GALA tokens.
The platform aims to revolutionize the gaming industry by giving players more control over their games.
In traditional games, players often spend money on in-game items, but these items are ultimately owned by the game developers.
If a player is banned from a game or the game shuts down, they lose all their in-game items and progress.
Gala Games solves this problem by giving players true ownership of their in-game assets through the use of non-fungible tokens (NFTs).
These NFTs represent in-game items like weapons, tools, and skins, giving players verifiable ownership and the ability to trade them on platforms like the Gala Store and OpenSea.
Gala Games runs on the Ethereum blockchain but has partnered with the Polygon network and utilizes the p.Network Bridge application to connect its tokens to the BNB Chain.
This allows players to send and trade their tokens with reduced gas fees, making transactions more efficient and cost-effective. This distinguishes Gala Games from its competitors by providing a more accessible and user-friendly experience for players on different blockchains.
The platform offers a diverse range of games, including real-time strategy (RTS), multiplayer online battle arena (MOBA), and role-playing games (RPGs). Some of the popular games on the platform include:
| Game | Genre | Description |
|---|---|---|
| Town Star | RTS | A competitive town-building game where players earn rewards for building the most efficient town. |
| Mirandus | RPG | A fantasy RPG where players can own land, build structures, and earn rewards for their in-game achievements. |
| Spider Tanks | MOBA | A MOBA game where players battle each other using tanks with unique abilities and weapons. |
| Fortitude | PvP Tower Defense | A player-versus-player (PvP) tower defense game where players strategize to attack and defend their bases. |
| Echoes of Empire | Sci-fi Strategy | A sci-fi strategy game where players compete for resources and control of the universe. |
What is the GALA token?
GALA is the native utility token of the Gala Games ecosystem.
The GALA token serves multiple purposes within the ecosystem:
- In-Game Transactions: Players use GALA to purchase items, NFTs, and other in-game assets.
- Governance: GALA holders can vote on platform decisions, fostering a community-driven approach to development.
- Staking: Users can stake GALA to secure the network and earn rewards
Token Metrics:
- Circulating Supply: Approximately 36.81 billion GALA tokens.
- Total Supply: Approximately 38.83 billion GALA tokens.
- Maximum Supply: 50 billion GALA tokens.
How does Gala Games work?
Gala Games operates on a decentralized network of computers called nodes. These nodes are owned and operated by players who contribute their computing power to support the network.
In return for their contribution, node operators are rewarded with GALA tokens and NFTs. This decentralized approach empowers players and ensures that the platform is not controlled by a single entity.
There are different types of nodes in the Gala Games ecosystem, each with its own specific function:
- Founder’s Nodes: These nodes are limited to 50,000 and play a crucial role in securing the Gala network and validating transactions. Founder Node operators receive GALA tokens and exclusive NFTs as rewards and have voting rights on proposals that influence the platform’s development.
- Game Nodes: These nodes support specific games within the Gala Games ecosystem. They contribute to the smooth operation of the games and may offer special privileges and benefits to their operators. For example, Town Star Game Node operators participate in the Town Star Node Recognition Award Program and earn DIRT, a soft token that tracks and rewards consistent node operation.
- Player Nodes: These nodes, such as the Jukebox Nodes in Gala Music, help host and distribute content within the Gala Games ecosystem. Jukebox Node operators contribute to music accessibility and distribution and earn $MUSIC rewards for their participation.
New Developments in Gala Games (GALA)
Gala Games has been actively developing its platform and expanding its ecosystem. Here are some of the notable developments:
- GALA v2 Upgrade: In May 2023, Gala Games upgraded its GALA token to version 2. This upgrade introduced security enhancements and burn mechanisms, potentially increasing the token’s value in the future
- GalaChain Decentralization: Gala Games has released a white paper outlining its plan to decentralize GalaChain, its proprietary blockchain. This plan involves a four-phase approach to transform GalaChain into a fully decentralized ecosystem, enhancing its security, transparency, and community governance.
- Bitrue Integration: GalaChain has been integrated with Bitrue, a mainstream international exchange. This integration allows Bitrue users to directly exchange GalaChain assets without the need to bridge to Ethereum, making it more accessible to a wider audience and potentially increasing the liquidity and trading volume of GALA and other GalaChain assets.
- New Game Releases: Gala Games has released new games, including “Legacy,” a web3 business simulation game developed by Peter Molyneux. This game allows players to build and manage their own businesses on their own land, offering a unique blend of gaming and entrepreneurial experiences within a blockchain-based environment.
- Partnerships: Gala Games has partnered with the EMERGE Group to integrate new game development studios into GalaChain and diversify its gaming offerings.
- Common Ground Partnership: Gala Games has partnered with “Common Ground,” an award-winning film promoting regenerative agriculture. The platform has rebranded its flagship game, Town Star, to Common Ground World and introduced new gameplay modes and features related to regenerative agriculture.
- Expansion Beyond Gaming: Gala Games has expanded its Web3 offerings beyond gaming to incorporate Gala Music and Gala Film.
- Participation in TOKEN204: In September 2024, Gala Games showcased its innovations at TOKEN2049 in Singapore. The event highlighted GalaChain’s capabilities and introduced $TREZ, a new project focused on decentralized gaming and assets.
- Security Incident: In May 2024, Gala Games experienced a security incident where an attacker exploited a vulnerability and withdrew a significant amount of GALA tokens. However, the Gala Games team took swift action to address the issue and recover the funds.
Team Background
Established in 2018, Gala Games was co-founded by industry veterans Eric Schiermeyer, Michael McCarthy, and Wright Thurston.
Schiermeyer, known for co-founding Zynga, brought significant experience from the gaming industry. McCarthy, serving as the studio director, was the creative force behind popular titles like FarmVille 2. Thurston, a notable figure in the cryptocurrency space, contributed his expertise in blockchain technology.
In August 2023, internal conflicts emerged within the company. CEO Eric Schiermeyer filed a lawsuit against co-founder Wright Thurston, alleging the misappropriation of approximately $130 million worth of GALA tokens.
Schiermeyer claimed that Thurston transferred these tokens into personal accounts without authorization.
In response, Thurston filed a countersuit accusing Schiermeyer of mismanagement and the misuse of company funds.
These legal disputes have raised concerns within the Gala Games community. The company has assured its commitment to transparency and accountability throughout the ongoing legal process.
Risks and Rewards of Investing in GALA
Like any cryptocurrency, investing in GALA carries both risks and potential rewards. Here are some of the key factors to consider:
Risks:
- Volatility: The cryptocurrency market is known for its volatility, and GALA is no exception. The price of GALA can fluctuate significantly in short periods, which can lead to losses for investors. Factors such as market sentiment, regulatory changes, and overall economic conditions can influence the price of GALA.
- Competition: The blockchain gaming space is becoming increasingly competitive, with new platforms and games emerging regularly. This competition could potentially impact the growth and adoption of Gala Games and the value of GALA. Gala Games needs to continuously innovate and provide unique gaming experiences to stay ahead in this competitive landscape.
- Regulation: The regulatory landscape for cryptocurrencies is still evolving, and changes in regulations could affect the use and value of GALA. Governments worldwide are still developing frameworks for regulating cryptocurrencies, and any new regulations could impact how GALA can be used and traded.
- Security: While Gala Games has taken steps to secure its platform, there is always the risk of hacking and other security breaches that could compromise user funds and data.
Potential Rewards:
- Growth Potential: Gala Games is a leading platform in the blockchain gaming space, and it has the potential to grow significantly as the adoption of blockchain technology and NFTs increases. This growth could lead to an increase in the value of GALA. As more players enter the blockchain gaming world and seek ownership of their in-game assets, Gala Games is well-positioned to capture a significant share of this growing market.
- Play-to-Earn Opportunities: Gala Games allows players to earn rewards for their gameplay, which can provide a new revenue stream for gamers. This play-to-earn model can incentivize players to spend more time on the platform and contribute to its growth.
- Ownership of In-Game Assets: Gala Games gives players true ownership of their in-game items, which can be valuable and traded on secondary markets. This ownership can empower players and create new economic opportunities within the gaming ecosystem.
- Governance Rights: GALA token holders have the right to participate in the governance of the platform, giving them a say in its future development. This democratic approach to governance ensures that the platform evolves in a way that benefits its community.
- Improved Tokenomics: The high inflation trap that previously concerned investors in GALA is now over. With a reduced token inflation rate and a smaller percentage of tokens held by the team, GALA is less susceptible to sudden price drops caused by large sell-offs.