GALA is an Ethereum-based cryptocurrency that powers Gala Games, a play-to-earn gaming platform. The GALA crypto is used as a medium of exchange between participants in the Gala Games platform. Users can earn GALA tokens by achieving in-game milestones and completing tasks.
This crypto-based gaming platform is planning to launch its own blockchain soon, which has resulted in sky-rocketing prices of the GALA cryptocurrency. It aims to transform the gaming industry by letting players use and trade GALA crypto to advance in-game progression.
GALA is a functional utility token that is based on the Ethereum blockchain. It is the native token of the GALA Games ecosystem, which aims to bring a lucrative gaming experience to its users.
In addition, GALA Games also has a successful Non-Fungible Token (NFT) collection that is traded on an active secondary market by interested individuals. This gaming platform offers limited edition NFT characters to players, which they can buy by using their GALA token.
The GALA Games is the name of a blockchain gaming platform offering a number of games where people can get true ownership of their in-game items using NFTs. It is an early innovator in the play-to-earn genre of games. Unlike its competitors, Gala Games focuses on creating high-quality games that people will “actually want to play”.
In 2019 Michael McCarthy and Eric Schiermeyer would launch the Gala Games. Its parent company is the popular game development company Zynga. Schiermeyer is currently the CEO of Gala Network and is also one of the founders of Zynga. Michael was a creative director at Zynga and developed Farmville for Facebook.
Understanding the future potential of play-to-earn games, these two co-founders shifted their focus to developing a decentralised platform where players would own their personalised content. To reward the participants of the GALA platform, they soon released the Ethereum-based GALA token on September 18 2020.
The GALA crypto coin powers the GALA ecosystem entirely. This decentralised gaming platform features a wide variety of games that are 100% free to play. In addition to getting GALA tokens as rewards, one can buy and sell in-game items from the in-built marketplace.
The entire gaming network is based on community-owned nodes that power the platform. Users can operate Gala nodes from their home computers by buying a license for the same from the official website. Such users get incentivised for their contribution in terms of GALA coins, NFTs and gaming opportunities.
Listed below are some unique features of the GALA cryptocurrency that benefit its users:
Most interestingly, the platform is planning to launch its own high-speed native blockchain, called GALA Chain, which will drastically lower the transaction fees associated with using the Ethereum blockchain.
Here are the steps you can follow to buy GALA crypto coin in India:
GALA Games has lined up some exciting projects and initiatives. From exciting partnerships with Hollywood celebrities to the launching of more games, it is believed that the GALA ecosystem will continue to grow.
As of July 12 2022, the GALA coin price prediction is positive for the rest of this year. There are chances of GALA crypto coin trading at $0.189 in a year. The GALA crypto price for the end of 2025 is projected to reach the $0.50 mark, and it may even reach $0.728 by the end of 2027.
Right now, the GALA token is based on the Ethereum blockchain, so you can store GALA by using any ETH-compatible wallet. You can secure your GALA cryptocurrency in a hot wallet or cold wallet, both of which have been explained below:
In addition to these two types of wallets, crypto users can also choose to store GALA crypto coins in the custodial wallets of crypto exchanges.
By combining the attractions of gaming and cryptocurrency, GALA Gaming aims to revolutionise these sectors and transform the experience of online gamers. Participants of the GALA Games truly get to be part of a community-owned network which is hopefully on its way to becoming the next Metaverse.
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Ans: No, GALA is a blockchain-based gaming platform that has incorporated NFT collectables into its network for players to buy and play with. Players can purchase NFTs as well as other in-game items using the GALA coin.
Ans: Yes, GALA Games is a decentralised platform because the GALA ecosystem is currently based on the Ethereum network. Players get to truly own what they earn/win and also be part of a wider blockchain community.
Ans: Yes, all games on GALA are completely free to play. Players can start playing without any initial purchases and earn GALA tokens while they level up or complete in-game milestones. One can use these tokens to buy and sell in-game items on Gala’s built-in marketplace.
Ans: No, currently, GALA player nodes cannot be sold once they are purchased. However, the maximum limit of nodes that can be in circulation is set at 50,000. They might be available to be exchanged on the secondary market once all the nodes are sold.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.
This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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