GameFi has turned into the hottest investment sector after the success of Axie Infinity and Gala games is here to claim its share in this space. Based on play to earn business model, it is developing an ecosystem of online games that are built on blockchain technology.
Backed by the founder of Zynga and the creator of Farmville, Gala games has the required expertise to make this project, a mainstream success. However, will that be enough to compete with rising competition and match the surging demand? Can GALA coin become the next AXS? All these questions will be answered in this post.
Buckle up, it’s time to dive into GALA games –
What is GALA Games?
GALA games is a blockchain-based, play to earn gaming ecosystem. It develops and supports wide variety of games for the players like Townstar, The walking dead, Last expedition and more. Unlike Axie Infinity, the games are free to play (no initial purchase required) and they can be played on the browser with basic device configuration.
GALA games was founded in 2019 by Michael McCarthy and Eric Schiermeyer who was one of the co-founders of Zynga, the mobile gaming company that developed Farmville and Mafia Wars. GALA officially operates as Blockchain Game Partners, Inc. which is a for-profit corporation registered on 16th Jan 2019.
Eric is the current CEO and Michael is the current President of GALA games with Jason Brink being the current CMO and the face of the whole GALA ecosystem. GALA mission is to replace centralized gaming with a decentralized gaming ecosystem, giving ownership to the players using blockchain NFT as a medium.
What is GALA Coin?
GALA coin is an ERC20 token on the Ethereum blockchain and BEP20 token on the Binance Smart Chain. GALA serves as a utility token in the GALA gaming ecosystem by facilitating the purchase of game items (NFTs), P2P payments and rewarding nodes. It is also used to obtain the license to operate GALA founder’s node which will be covered next in the post.
The total supply of GALA tokens is capped at 50 billion and halving is scheduled every year on July 21. A total of 17,123,286 GALA tokens are distributed every day at 0200 UTC, half of it is allocated to the Founder’s node operators and the remaining goes to the GALA games conservatorship.
It is important to note that GALA is a non-refundable utility token, once the transaction is settled, it cannot be reversed. At the time of writing, GALA is not used for governance and its ability to pay for the transaction fee is still under development.
GALA never had an ICO and is funded by the project founders.
How does GALA work?
GALA games support decentralization of the internet and therefore launched founder’s node that can be purchased by the users to support the GALA ecosystem. Founder’s node is part of its gaming network and anyone operating the node will be directly contributing to the growth of GALA games.
According to the official GALA documentation, running a node help players get real ownership of their assets and content within the game.
There will ever be 50,000 Founder’s nodes and 25,000 are already been sold to the node operators
The node operators can participate in consensus vote that can help decide the future of the games on the platform. Voting may extend in deciding other aspects of the platforms once the ecosystem matures.
GALA tokens are distributed daily to the node operators based on their activity time. The earnings of node operators will not be affected by halving since the operators have voted for Gala games to receive the reduced share of distribution.
The distribution of GALA tokens is based on point system. At the time of distribution, all the points are added and the distribution schedule is made. The point system is as follows –
- Running a node for 6 hours: 1 Point
- Referral runs a node for 6 hours: 0.1 Point
- Referral purchase a node: 10 Points (One time only)
For example, if you have 3 nodes and 1 referral node, your total will be 3.1 Points.
Nodes work on a “see-saw” algorithm that determines the requirement of a node for a given time. For example, if a network has the required storage but running low on processing power, the algorithm will reward the nodes with processing power. That’s how it adapts based on the demand.
Founder’s node operators can earn daily income of $150 plus game NFTs & rewards for their service
The information on GALA games sidechains is yet to be published but according to the video by Coinbureau, it will possibly have two additional nodes i.e Paid Node and Free Node, each based on a different consensus mechanism. Paid nodes will operate the infrastructure of specific games and Free nodes will provide support to Founder’s and Paid nodes in order to receive the portion of their reward.
|Founder’s Node||Proof of Work|
|Paid Node||Proof of Stake|
|Free Node||Proof of Storage|
Key Components of Gala Ecosystem:
Gala games provide maintenance and curatorial services to the network. This includes but is not limited to software updation of nodes, maintaining best practices in development and more.
The Game Development:
The game development helps the game studios by launching their games on the network along with NFT libraries and wallet integration, providing the necessary toolkit for a smooth onboarding.
Random Distribution Algo:
It is responsible for distributing the NFT rewards to the node network. This component is still under development and may rollout soon next year.
Public Database with Easy-to-Access Endpoints:
It’s an effort by the community to create publicly accessible database that adds to the growth of the Gala ecosystem, making it easier for developers to run audits & analytics on the Gala gaming ecosystem. Galabase.io is one such example of public database that was created as a separate entity operated by the community members.
Gala Games – Live & Upcoming:
Townstar is a town-building game that works similar to Farmville. Users can play the game to earn NFTs and native Town tokens. The game is live with the integration of play to earn model.
Developed by GAMEDIA. Spidertank is an online multiplayer game that allows users to fight and compete using their fire tanks and chosen weapons. The game is under development.
Mirandus is a fantasy RPG game where players decide who they will be and choose their own quest to fight against evil. The game is much-awaited and is under development.
GALA Games Benefits:
Play to Earn:
GameFi is a real treat to the players. Letting the game economy drive the real one by creating an income stream for the gamers.
Multi Gaming Platform:
Unlike Star Atlas & Decentraland (MANA) metaverse, Gala games offers variety of games to the users. From battle games to strategy, it has all genre of games for anyone interested in gaming. Combine it with play to earn model and the results will be an outstanding response.
Blockchain and NFT has given the true ownership to the players. Users have the complete control over the in-game assets and NFTs bought during their journey in the game.
Users can trade NFTs and other in-game assets specific to the game on the GALA store using multi crypto tokens like Gala, BAT or Ethereum.
Backed by Experts:
Gala Games is backed by the founder of Zynga & creator of Farmville bringing the real world experience to the project which can prove valuable for the long term success of the game.
GALA Games Drawbacks:
The project is in nascent stage and has yet to produce sizeable games. Among the list of games, only Townstar is live on the Gala network and the remaining games are still under development.
GameFi is becoming a crowded place for new crypto projects. After the success of Axie Infinity, every other project wants to make a move in this space. Sandbox Crypto and Enjin coin are the top competitors of Gala games.
GALA never had an ICO and its totally funded by the project founders in its initial stage. Apart from the knowledge of total supply, it’s still unclear how the token is distributed and its emission schedule.
Gala Coin Price:
Please check the latest Gala Coin price, shared below –
Gala Coin Price Prediction:
GALA is a fairly new project who is getting ready to make its mark into the GameFi space. The coin has shown massive move towards $0.90 during initial weeks before falling back to the range of $0.40 per token.
The project has a clear mission to dethrone the centralized gaming platforms by introducing play to earn model in the decentralized games. Moreoever, harnessing the power of NFTs and backed by brilliant team, it is all set to bloom next year.
I won’t be surprised it pass $1.00 mark within the next 3 months and aim to hit an all time high of $3.00 per token in the same year. This prediction is based on the fact that the ecosystem is launching the games on schedule with well integrated play to earn game tokens.
Where to buy GALA Coin?
GALA coin can be bought from the top centralized and decentralized exchanges (DEX). Binance, KuCoin, OKEX and Gate.io are some of the popular centralized exchanges that trade GALA tokens.
Uniswap exchange on the other hand has emerged as the top DEX that swap GALA tokens. It is far more easier to purchase GALA on DEX than on a centralized exchange that require the users to submit KYC documents before allowing them to trade on the platform.
Is Gala Games a good investment?
Believe it or not, GameFi is the future of gaming and GALA is here to grab its share. Combine the game with NFT and it become the most attractive asset in town that is worth investing in. But games are not just about investment, it’s about the gameplay and GALA has clearly stated it on the website.
It wants to bring the “Fun First” factor to the blockchain gaming before making it an investment vehicle for the users. This is the right approach since higher engagement will automatically drive the economy of the game and the demand of GALA tokens.
Though the approach is good and the process is well defined, the project is still in the nascent stage and has a lot of ground to cover. There’s only one game (Townstar) live on the platform and the rest are still under development.
If you’re interested in blockchain gaming and a believer of decentralized gaming ecosystem then you should take time and interact with the platform before making an investment decision. Given the age of the project, I am positive about the project’s growth and neutral on the investment part.
This completes my review of Gala games. In the next post, I will talk about RUNE crypto and AMP Coin If you’re a fan of blockchain technology then please do share this post on your social handles and educate everyone around you. Do remember to subscribe to my YouTube channel for more informative content, released every week.
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
An MBA in Marketing. Paras have a decade long experience in the corporate world. He is done with office politics and corporate life, therefore decided to move on and jumped on building Katoch Tubes. He is a crypto fanatic and has the vision to bring cryptocurrency knowledge to every household in the simplest form possible using the power of internet. His area of expertise includes online marketplace, cryptocurrency and content strategy. Reach out to him on Twitter & YouTube.