Gala

What is Gala (GALA)?

GALA is the native token of the Gala Games ecosystem. It is a decentralized platform for games and entertainment. Although the Gala token was originally based on the ERC-20 standard, it now operates as cross-chain platform on Ethereum and Binance Smart Chain.

Gala Games is a blockchain-based gaming platform. Users can invest in non-fungible tokens (NFTs), which act as in-game assets. It uses a unique combination of consensus mechanisms and allows players to directly participate in the governance of the protocol.

Who is the founder of Gala?

Investor Eric Schiermeyer is the founder of Gala Games. He also co-founded the gaming company Zynga. It is best known for online games such as Farmville and Words With Friends.

The idea behind Gala Games was to change the traditional online gaming model and reveal it using blockchain technology. The goal of the project is to give players more power over the games they play and how they are developed.

The Gala Games team has discovered that many digital games and gaming platforms operate unfairly by forcing players to complete microtransactions for unique items that may be lost or taken away due to server issues, unfair bans, or other reasons without refunds.

Gala Games was officially launched in July 2019. At the time of release, GALA was valued at approximately $0.002. It remained at relatively the same level until the first quarter of 2020. The asset remained moderately volatile throughout 2020 and the first half of 2021. Within two years of its launch, Gala exceeded 1 million active users.

According to the developers, the goal is to create a decentralized gaming experience without sacrificing entertainment in favor of technology. Although blockchain is a core part of games, it is integrated into the system without interfering with the gameplay itself.

In the fall of 2021, the price of Gala has undergone significant fluctuations. On November 26, the token was priced at $0.84, its closest to the $1 threshold at that time. The asset generally follows market trends.

What are the main functions of Gala?

The GALA proposal is valued at 50 billion. However, there is no hard limit. The maximum number of GALA coins may be changed if the user base holds a governance vote. While it is not strictly a deflationary asset, meaning that Gala’s price cannot rise steadily as supply dwindles, there are some regulatory measures in place.

Being a relatively new asset, Gala strives to follow the general trends of the cryptocurrency market. The most accurate market position and performance of the token can be seen in the chart above. The price of Gala has undergone similar fluctuations as the price of Bitcoin (BTC), albeit on a different scale.

The Gala protocol follows a strict token distribution schedule. The protocol distributes a set number of GALA tokens between Founder node operators and the Gala Games Conservatory daily at 2am UTC.

The volume of daily GALA distributions is programmed to halved annually on July 21. This acts as a deflationary measure to regulate overall supply. In 2022, this number was reduced to 8,561,643 GALA, and the distribution rate in 2023 was set at 4,280,822 tokens.

The Gala Games platform offers a number of digital releases, as well as updates and previews of content in development. Users can check whether games are fully available, in beta testing, or still in development. The games are available on Windows and Mac systems, and some options can be accessed through a browser.

The platform uses a unique network functionality system that combines three consensus mechanisms: Proof of Work (PoW), Proof of Stake (PoS) and Proof of Storage. Each type of node operator is entitled to compensation for their contribution to Gala Games.

• Proof of work nodes – Founder nodes responsible for control votes;
• Proof-of-Stake nodes — paid nodes responsible for individual games on the platform;
• Proof of Storage Nodes – nodes that manage game hosting.

Gala Games functions as decentralized autonomous organization (DAO). The GALA token allows network participants, known as founder nodes, to vote on future game development projects. There cannot be more than 50,000 Founder Nodes.

The games available on the platform are not exclusively developed by Gala Games. Other development companies may also submit their concepts. Some of the available games are Fortitude Round2, Eternal Paradox Ndream, Spider Tanks by Gamemedia and Town Star by Gala.

Decisions about game development on the Gala crypto platform are not made only by the behind-the-scenes team. The Founder nodes hold a vote to determine the roadmap. Once a project is approved by a node vote, users can directly participate in QA and testing by joining the Discord community.

Founder nodes are also responsible for verifying in-game transactions and general network security. Node operators are rewarded with points, which are later converted into GALA tokens. In this way, the founder nodes are incentivized to continue contributing to the network.

Another important part of the Gala Games ecosystem is NFT Marketplace. The use of non-fungible tokens is one of the main mechanisms of the games available on the Gala Network. They serve as a solution to the problem of disappearing assets in traditional games, since all NFTs are directly linked to their owners.

NFTs can be purchased using several different currencies. Thus, if the user finds that the price of a GALA asset is not favorable, he can choose another payment option. Other commonly used payment methods include Ether (ETH) and Basic Attention Token (BAT).

While Gala offers several different types of NFT collectibles for each game, one of its most famous projects is VOX. Vox is a collection of 8,888 non-fungible VOX tokens that can be used in the game Town Star. The GALA price does not include gas fees, which are paid in ETH. Town Star players will be able to earn an in-game TOWN token.