Gala Games was founded by Eric Schiermeyer, Wright Thurston and Michael McCarthy in 2018. Aiming to overthrow the current game model and become a decentralized gaming ecosystem, this project is dedicated to providing users with entertaining blockchain games and empoweringplayers with more rights, thus allowing traditional game users to join the metaverse chain freely and conveniently.
The Gala platform gives players control over their in-game assets, and it offers a range of different blockchain games, all of which focus on enhancing users’ interest in games, with blockchain coming in second. This also means that GALA wants to attract more users, rather than designing products from a blockchain perspective. They say "building for the masses is the key to our focus". Therefore, GALA's market is also very active, which allows GALA a strong ability to make profits. It obtained an amazing income when the game was launched. This also benefits from the integration of traditional and mobile game monetization methods into chain games.
How GALA works
As a game publisher and developer, GALA GAMES uses GALA tokens as a payment for NFTs and rewards for contributors. The existence of the GALA token provides continued momentum to the Gala Games ecosystem.
Gala's node network is maintained by the community and players. Users can use their Gala Games account to purchase node licenses using GALA tokens. These thousands of nodes will become the Gala Games network tagged by the community as GalaChain. After players become platform nodes, they can provide decentralized computing power support, transaction verification and storage services for the game ecosystem. While constructing the Gala ecosystem and governing the platform, players will receive GALA tokens and random game NFT rewards. At the same time, this can also help grant more rights and obligations to the core users of the game. GALA tokens will continue to be used as the rewards and become the driving force behind this network.
The node and token incentive mechanism can not only further promote the platform's decentralization, but also distribute more revenue to players to improve user loyalty. The platform can also reduce the cost of network operation and maintenance to a certain extent.
The node ecosystem was introduced in Gala. For different node types, a triple-proof node system is employed - a mixed consensus mechanism that includes Proof of Work (PoW), Proof of Stake (PoS), and Proof of Storage.
1. Founder node
Users can purchase a node license and a node-like operating miner and use a computer/VPS to run the founder node, and they will be rewarded for their operating after a certain period of time. There is no need for them to stake tokens. Users can earn one point if they run the node for at least 6 hours a day. The points can help users get GALA token rewards. Becoming a node runner will also earn users a limited-edition NFT.
Creator nodes can vote on fundamental changes to the project, such as which games to launch and how their reward system should work.
2. Paid nodes
Nodes can be rented based on smart contracts, limited to specific games. Rents are collected through smart contracts. Besides, tokens and NFT rewards can also be obtained.
3. Free nodes
Anyone who wants to run can participate.
In the current ecological route, paid nodes and free notes have been removed.
What is GALA?
The GALA token is a functional ERC-20 token used to power the Gala game, with a maximum token supply of 35 billion. The GALA Token serves as a payment for NFTs and a reward for contributors, thereby constantly providing momentum to the Gala Games ecosystem.
GALA can be used to reward network node operators. Players can use GALA to govern the network, and Gala node operators can also get GALA token rewards. In addition, users also earn GALA while playing various platform games, and use them to purchase in-game items and NFTs in the official Gala store.
There are two schools of thought in determining the price of GALA.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of GALA, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of GALA from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of GALA on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for GALA as well.
HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for GALA and the cryptocurrency market as a whole.
2. What is the highest price of GALA in history?
GALA achieved the all-time high of €0.78 in , and is currently trading at €0.025.
3. What is the lowest price of GALA in history?
In 2020-12-28, GALA reached the all-time low of €0.00013.
4. Should I buy GALA now?
It is important to remember that GALA, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.