Live GALA Price Summary
As of Feb 22, 2024, the global cryptocurrency market cap is $932.43M with a -1.50% change in the last 24 hours. Today's price of GALA is $0.02762251, with a 24-hour trading volume of $--. GALA is -0.63% in the last 24 hours, with a circulating supply of 33.81B GALA coins and a maximum supply of 50.00B GALA coins. GALA ranks 91 by market cap. It has a 24H high of $0.02812698 recorded on Feb 22, 2024, and its 24H low so far is $0.02628701, recorded on Feb 22, 2024.
What Is the Highest Price of GALA?
GALA has an all-time high (ATH) of $0.824837 , recorded on Nov 26, 2021.
What Is the Lowest Price of GALA?
GALA has an all-time low (ATL) of $0.00013475, recorded on Dec 28, 2020.
About GALA (GALA)
Are you ready to embark on a revolutionary journey in the gaming industry, where blockchain technology empowers players with true ownership and control? Welcome to the world of Gala Games and its native cryptocurrency, GALA token. This in-depth guide explores the platform, its token, and the potential it holds for the future of gaming. But first, let’s answer the question: what is Gala Crypto?
- Gala Games is a platform that rewards players with digital assets and GALA tokens, used for in-game purchases, rewards, and governance.
- GALA tokens have demonstrated strong market performance & capitalization due to their utility within the Gala Games ecosystem & strategic partnerships.
- Users can acquire/trade GALA through exchanges such as Bybit to participate in game development or influence its future direction.
What is Gala Games?
Gala Games aims to transform the gaming landscape by rewarding players with digital assets and giving them control over game development. Its ecosystem consists of a custom utility and governance token, a reactive blockchain, and NFT technology. Gala Games has released Town Star, a popular game that has generated over 700,000 towns, and an NFT series called Vox. Collaborating with renowned mobile game companies such as Ember Entertainment, Kung Fu Factory, GAMEDIA, Certain Affinity, and 22cans, Gala Games is poised to redefine the play-to-earn paradigm.
The foundation of the Gala Games platform is the GALA token, designed to serve as a medium of exchange within the ecosystem. Players can use GALA tokens to:
- Purchase or trade in-game items and NFTs on the Gala Store and OpenSea
- Facilitate these purchase/trades through a trustworthy and secure platform
- Gain full ownership and control over their in-game items, fostering a sense of accomplishment and pride in their gaming experiences.
The Essence of GALA Token
As the heartbeat of the Gala Games ecosystem, the GALA token serves multiple purposes. It is a utility token built on the Ethereum blockchain, used for in-game purchases, rewards, and governance within the platform.
The upcoming sections will explore the utility and functionality of GALA, along with its value proposition.
Utility & Functionality of GALA
GALA tokens are versatile and can be used for various purposes, including:
- Purchasing in-game items
- Earning rewards
- Voting on community proposals
- Operating nodes within the Gala Games network
These tokens can also be integrated into different games, allowing developers to expand the GALA ecosystem and enhance player experiences as gala games work seamlessly together.
Those interested in contributing to Gala Games’ growth and its titles can express their opinions on the platform’s direction by purchasing a Founder’s Node using GALA tokens. Active participation in the ecosystem allows users to utilize GALA tokens to influence the future of blockchain gaming.
The Value Proposition of GALA
The value of GALA tokens is derived from their utility within the Gala Games ecosystem and the platform’s strong community backing. Adhering to the BEP-20 token standard on the Binance Smart Chain, GALA tokens facilitate transactions across the platform while reducing costs.
Community support plays an integral role in the valuation of GALA tokens. As the community becomes more engaged and active within the platform, the demand for GALA tokens increases, potentially driving up their value. The enthusiasm and support from the community also help attract new users and investors, further contributing to the value proposition of GALA tokens.
The Gala Network: Nodes and Governance
The governance of the Gala network hinges on a decentralized system of nodes, allowing users to participate in the platform’s direction and decision-making.
The upcoming sections will cover how users can participate in the Gala Node Network and the role of GALA tokens in the platform’s governance.
Participating in the Gala Node Network
The Gala Node Network, consisting of numerous gala nodes, is a distributed network of nodes that support the platform by providing computational resources in exchange for rewards. To become a node operator, users can contribute their resources and earn rewards in the form of GALA tokens and NFTs.
Operating a Gala Node requires 4 GB RAM, 2 CPU Cores, and 60 GB Disk space. For optimal performance, it is recommended to run the node continuously, 24/7. By contributing to the network, node operators can play a vital role in the growth and success of the Gala Games platform.
Governance Through GALA
GALA token holders wield influence by voting on community proposals, thus impacting the future of the platform and its games. The voting mechanism for Founder’s Nodes provides players the opportunity to shape the development and funding of games from Gala.
To participate in governance using GALA tokens, users must link their wallets to the Gala Games platform and stake their tokens during the voting process. By engaging in the platform’s governance, GALA token holders can directly contribute to the direction and success of Gala Games and its offerings.
The Gala Team and Development Journey
Gala Games was founded by experienced gaming industry professionals Eric Schiermeyer and Michael McCarthy in 2019. Schiermeyer, formerly part of Intermix Media and co-founder of Zynga, and McCarthy, the Creative Director of Zynga, have brought their extensive expertise to the blockchain gaming landscape.
The company has secured strategic partnerships with notable firms such as:
- Mazer Gaming
- Ember Games
In collaboration with C2 Ventures, Gala Games has also launched a $100 million fund to support the growth of blockchain gaming on their gaming platform. These partnerships and funding initiatives are propelling the platform towards a promising future.
Innovations in Blockchain Gaming
Gala Games is at the forefront of innovation in blockchain gaming, offering titles such as Legacy, a business simulation game for PC and Mac, and The Walking Dead: Empires, a groundbreaking survival game set in the AMC universe. These unique gaming experiences attract millions of players and foster a thriving gaming community.
The use of NFTs within the Gala Games platform is revolutionizing ownership dynamics in the gaming industry. Players must possess designated NFTs to acquire tokens and partake in certain game elements, and Gala Games also migrates unsold reserved NFT items to their proprietary blockchain, GalaChain. This innovative approach to in-game assets is reshaping the gaming experience and fueling the growth of the platform.
GALA's Market Performance and Capitalization
GALA token’s market performance has shown impressive growth, with its gala price reaching an all-time high of $0.824837 and a market cap of nearly $932.43M. This makes it an attractive option for those looking to buy gala.
The upcoming section will analyze the supply dynamics of GALA tokens and the factors that influence them.
Analyzing Supply Dynamics
The supply dynamics of GALA tokens are influenced by factors such as demand, partnerships, and the platform’s overall success. For example, when demand for GALA tokens is high but supply remains the same, the price of the token is likely to rise, reflecting the increased demand for the token in the market.
Strategic partnerships, such as the one with Huobi Global, also play a role in shaping the supply of GALA tokens. Additionally, Gala Games has declared plans to burn 21 billion Gala coins to deter old tokens from being sold in the future, further affecting the token supply. These factors and more contribute to the evolving dynamics of GALA token supply and demand.
How to Acquire and Trade Gala Cryptocurrency
Users can acquire GALA tokens through various methods, including purchasing them on exchanges like Bybit and utilizing them within the Gala Games ecosystem.
The upcoming section will cover how users can use their GALA tokens for in-game purchases, rewards, and participation in the platform’s governance.
From Purchase to Play: Utilizing Your GALA
Once acquired, GALA tokens can be used for in-game purchases such as procuring digital assets and NFTs. Users can also earn rewards on the Gala Games platform through various means, including referral rewards, playing play to earn games and contributing to the network, and staking their GALA tokens.
To participate in Gala Games’ governance utilizing GALA tokens, users can link their wallets to the Gala Games platform, navigate to the governance section, and stake their tokens during the voting process. By actively engaging in the platform’s governance, users can influence the future direction of Gala Games and the projects it supports.
The Future of Gala Games and Its Crypto
With ongoing developments, partnerships, and a growing community of players and investors, the future of Gala Games and its cryptocurrency looks promising. As a mobile games company, Gala Games is currently focusing on mobile games, with the launch of the Legacy business sim strategy game by Peter Molyneux and the upcoming GALAGALA(v2) contract upgrade.
Moreover, the company has explored potential partnerships with:
- Common Ground
- DWF Labs
- Huobi Global
- Elixir Games
in the VR/AR space. As the gaming industry continues to grow, with global gaming revenue projected to reach $200 billion in 2024, Gala Games is well-positioned to capitalize on this booming market, driving further adoption of blockchain technology in gaming.
In conclusion, Gala Games and its GALA token present a compelling opportunity for players, investors, and developers alike. The platform’s vision, innovative blockchain games, strong community support, and strategic partnerships all contribute to a promising outlook for the future. As the gaming industry continues to evolve, Gala Games is poised to lead the charge in revolutionizing the gaming experience through blockchain technology and true ownership of digital assets.
Frequently Asked Questions
How much will Gala coin be worth?
Gala coin is currently worth $0.02762251 USD, and our forecast suggests its value will increase to $0.029031 by November 29th, 2023.
What is the all time high price of Gala?
Gala's all-time high of $0.824837 was recorded on Dec 28, 2020 reaching a market capitalization close to $932.43M billion.
What types of games are available on the Gala Games platform?
Gala Games offers the popular game Town Star, as well as its NFT series, Vox.
How are GALA tokens utilized within the Gala Games ecosystem?
GALA tokens are utilized to purchase items in-game, as rewards for playing, vote on proposals, and operate nodes within the Gala Games ecosystem.
What is the role of nodes in the Gala Games platform?
Nodes in the Gala Games platform are responsible for providing computing power, casting votes on proposals, and assisting with network development decisions.