Gala
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Information about Gala (GALA)
Gala Games is a play-to-earn blockchain game ecosystem launched in 2020. The platform includes games of different genres such as RPG, space exploration, farming, tower defense,… With the principle of creating “blockchain game you’ll actually want to play”, Gala Games focuses on visuals and storylines to increase the fun in the user experience and opens up a rich NFT Marketplace, giving players absolute control over the items they own. They can quickly sell and exchange items to earn liquidity or buy new items to improve their gaming experience.
Gala Games has up to 1.3 million users, more significant than most of the current play-to-earn games on the market. This project is initiated and run by Eric Schiermeyer, the Co-Founder of Zynga – a famous American mobile game development company.
GALA is a native token of the Gala Games ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
- Buy/sell, exchange items at the NFT Marketplace
- Vote for proposals and changes in the game’s system
- Reward players
News
GALA sees drastic 12% fall: GALA’s price recently fell 12% within a day, causing concern among traders. The token’s trading volume was recorded at 458.83 million USD, reflecting a significant market shift. Currently, GALA trades at about 0.05487 USD, highlighting ongoing volatility and uncertain market direction.
Potential rally amid mixed signals: Despite the drop, technical analyses mention a bullish reversal could elevate GALA to 0.0790 USD. The 50-day EMA supports this view. Meanwhile, the RSI’s drop indicates mixed market sentiments. If bullish trends continue, GALA might hit the 0.10 USD mark by 2025, requiring a 1,722.29% rally to reach 1 USD.
Web3 gaming project Gala Games has entered into a partnership with Animoca Brands. As part of the agreement, Animoca Brands will receive GALA tokens from Gala Games’ treasury to provide liquidity provisioning services.
This partnership is expected to enhance the operations of Gala Games and contribute to the growth of the Web3 gaming ecosystem.
According to a recent announcement, DWF Labs made a massive cryptocurrency purchase of 28.3 million GALA.
This move comes after the recent $200 million security breach at Gala Games. This aims to stabilise the token’s value.
Gala Games burns over $660 million worth of GALA V1 tokens
Gala Games announced this week that they have burned a massive 21 billion GALA tokens, with a value exceeding $660 million at the time of the burn.
The purpose behind this significant token burn is to alleviate concerns among GALA holders, as there is a high possibility of a substantial dump in GALA’s value following the release of token v2.
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