Securities.io is committed to rigorous editorial standards. We may receive compensation when you click on links to products we review. Please view our affiliate disclosure. Trading involves risk which may result in the loss of capital.
Table Of Contents
Gala Games (GALA) is a play-to-earn gaming ecosystem. The network provides decentralized gaming solutions to the market that empower users in new ways. Specifically, the developers seek to improve GameFi and blockchain adoption. GameFi is a term used to describe the melding of finance and gaming.
Play-to-earn gaming networks are on the rise. These networks enable users to unlock value that was once regulated to a specific gaming environment. As such, there has been a lot of hype surrounding these networks. Notably, this attention translated into heavy support from investors for Gala. Specifically, C2 Ventures partnered with Gala Games to form a $100 million fund to invest in furthering the play-to-earn gaming market.
What Problems Does Gala Games (GALA) Solve?
There is a multitude of issues that Gala attempts to rectify. For one, the gaming industry has long left users out of the loop in terms of profits. The gaming sector is a multi-billion dollar market. In the past, gaming enthusiasts poured money into the market but were never able to recapture these funds once spent.
Gala seeks to cut users in on the billions being made through gaming platforms. The network wants to enable you to take value from gaming ecosystems in the form of NFTs (non-fungible tokens) and other digital assets. You can leave the gaming ecosystem and trade these items on a variety of DEX (decentralized exchanges) for other popular cryptocurrencies.
Benefits of Gala Games (GALA)
There are a ton of benefits that users and developers gain through the entry of Gala into the market. For one, developers can leverage Gala’s blockchain infrastructure to create better and more rewarding titles. The network was designed to support the latest and most immersive metaverse environments. In this way, the network seeks to provide more entertaining games powered by blockchain technology.
It’s one thing to spend all day playing your favorite title and walk away with some props from your friends and possibly your name on a leader board. It’s an entirely different gaming experience when you walk away with actual value. Providing users the ability to convert and trade their digital assets both in and out of the gaming ecosystem is a huge upgrade for all parties.
Additionally, Gala developers can include more valuable assets in their ecosystems. Blockchain-based games provide instant verification and authenticity capabilities to the market. In this way, gamers know exactly how scarce a digital item may be. This capability adds to the overall value of the item.
Another major benefit of Gala is that it can incorporate a real economy into its gaming titles. The internet already has some large MMORPGs that provide real economies. However, these markets are limited in both their nature and liquidity as they are only based on a single gaming title. Gala assets can be sold on the open market. Also, the developers can create multi-game assets using this technology.
How Does Gala Games (GALA) Work
The Gala Games environment combines a custom-made utility and governance token, a responsive blockchain, and NFT technology. The network enables developers to build using these tools. Users can take their Gala Games assets and trade them on popular DEXs like Uniswap.
One of the main components of the Gala’s strategy is the creation of a custom blockchain called the GalaChain. This fourth-gen blockchain will support all DeFi capabilities including staking and NFT creation. The purpose of the network is to provide relief from congestion experienced on the Ethereum network.
Notably, GalaChain provides free in-game transactions to players. This strategy will help to improve the gaming experience for all. Currently, the network resides on Ethereum. Ethereum is very secure but has suffered from congestion issues for many years. Currently, Ethereum users have high fees and transaction delays due to these issues. GalaChain will eliminate these problems.
In terms of developer support, Gala is on another level. The developers want to entice more creators to enter their network. As such, they have put together an impressive support system. Developers can receive access to funding, and technical and marketing guidance. This guidance includes crucial steps such as how to set up a pre-sale, token designs, structuring in-game economies, community engagement, monetization, and distribution support.
Users who want to do more and earn some rewards without playing games can do so by becoming a Gala Node. Gala Nodes help secure the network. They are tasked with completing transactions and verifying the state of the network. Notably, nodes receive points daily for their support. These points can be converted to GALA coins.
GALA Coins operate as the main utility and governance tokens for the market. Users receive rewards and pay fees with these tokens. You can also use GALA to trade and to send value to friends and family globally. The tokens are currently ERC-20 standard but upon the completion of the GalaChain, they will migrate over to the new network and enjoy the added benefits of free transactions.
Mirandus VOX Collection
Gala Games recently launched a set of rare NFTs to the market. The Mirandus VOX Collection sold out in just one day on December 6, 2021. Their release helped to demonstrate the potential of NFTs within the Gala Games network. It also gave collectors early access to Gala assets.
Gala is unique in that the users have partial ownership over the platform. Through the community governance system enables regular users to get a say in the market’s developments. You simply need to stake your GALA tokens to gain access to this feature. The system examines the number of tokens you have staked to determine the overall weight of your vote.
History of Gala Games (GALA)
Gala Games entered the market in 2019. This advanced gaming protocol was designed by Zynga co-founder Eric Schiermeyer. Since its launch, Gala has secured some high-level partnerships in the market. The firm announced game deals with Will Wright, Peter Molyneux, Ember Games, AMC, and Certain Affinity. Each of these partnerships has helped to bolster the platform’s notoriety and improved its market penetration capabilities.
How to Buy Gala Games (GALA)
Gala Games (GALA) is available on the following exchanges:
Bitstamp – Founded in 2011, Bitstamp is one of the oldest & most trusted exchanges in the world. They currently accept Canada, UK & USA residents excluding the states of Alabama, Hawaii, Idaho, Louisiana, Nevada, & New Jersey.
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying Gala Games (GALA). Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts International & United States residents.
WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It is the best exchange for residents of India.
Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.
Gala Games (GALA) – Expect More from Your Games
Platforms like Gala Games continue to reshape the gaming sector. These protocols provide users with a unique opportunity to create an income doing what they love to do. Consequently, play-to-earn gaming like Gala is on the rise. You can expect to see a lot more development firms attempting to enter the market as Gala Games begins to release its titles in the coming weeks.
You may like
How to Buy Gala Games (GALA)
Investing In Axie Infinity (AXS) – Everything You Need to Know
Investing In Illuvium (ILV) – Everything You Need to Know
Investing In Decentraland (MANA) – Everything You Need to Know
Investing In The Sandbox (SAND) – Everything You Need to Know
Investing in Decentral Games (DG) – Everything You Need to Know