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What Is Gala Games (GALA)?
Gala Games aims to take the gaming industry in a different direction by giving players back control over their games. Gala Games mission is to make “blockchain games you’ll actually want to play.” The project wants to change the fact that players can spend hundreds of dollars on in-game assets, and countless hours spent playing the game, which could be taken away from them with the click of a button. It plans to reintroduce creative thinking into games by giving players control of the games and in-game assets with the help of blockchain technology.
Players can own non-fungible tokens (NFTs) and influence the governance of games within the Gala Games ecosystem. The Founder’s Nodes voting mechanism allows players to influence what games Gala should develop and what games should get funding. Besides buying NFTs for specific games, Gala Games also utilizes GALA – its own utility token. So far, Gala Games has released one playable game – Town Star and an NFT collectible series – VOX. It plans to release more games in the future, such as a fantasy RPG game, a sci-fi strategy game and a tower defense game.
Since launching in 2019, Gala Games has grown to 1.3 million monthly active users, and 26,000 NFTs have been sold, with the most expensive piece valued at $3 million.
Who Are the Founders of Gala Games?
Gala Games was founded by Eric Schiermeyer. He was the co-founder of Zynga, a popular social and mobile games company. Under Schiermeyer’s leadership, Zynga launched popular hits like Poker, Mafia Wars and Farmville. Schiermeyer, who has a reputation for working on the cutting edge of gaming, launched Gala Games in July 2019 to create a blockchain-based game network and give players more ownership of their games.
In total, the Gala Games team consists of 60 employees.
What Makes Gala Games Unique?
Gala Games is not a single game, but rather it offers an entire array of different blockchain games that places fun first and blockchain in the background. Town Star, it’s only currently playable game, is a town simulation that can be played in a browser. Players manage a town similar to the gameplay of SimCity, but in Town Star, they actually own the town.
VOX is Gala Games’ set of collectible NFT avatars. Each VOX is unique and some VOXs are rarer than others. In the initial drop, 8,888 VOX were distributed for an average price of 0.0888 ETH, or roughly $280 at the time of writing. Although inspired by Town Stars, VOX has other utility besides just being an NFT avatar. Holders can lock up GALA, and earn VOXcoin by playing with their VOX avatars in the future. VOX owners also get their own FBX file, which allows them to animate their avatars, or even 3D print them in the future.
Other games are in development as well. Fortified is a player-versus-player tower defense game set in a fantastical medieval world. Players will compete to build the best tower defense strategies.
Mirandus is a fantasy role playing game (RPG) set in a massive world ruled by five player-monarchs. Players will be able to own in-game assets and claim parts of the in-game landscape.
Echoes of Empire is a sci-fi strategy game set within a galaxy at war. Players will be able to own their own spaceships and control parts of the galaxy.
Spider Tank Project is a multiplayer online battle arena game allowing players to pick a “spider tank” to battle other players. The game is free-to-play but will contain in-game earning mechanisms. It is scheduled for release in Q4 2021.
A major component when it comes to developing these games is community feedback. Gala Games constantly engage and test assumptions with their community on Discord. This allows players to shape the direction and design of the games.
Users can run Gala Nodes, which supports the Gala network. In return, they receive rewards like GALA, limited edition NFTs and other opportunities. The Gala Node ecosystem consists of a triple-proof node system – proof-of-work (PoW), proof-of-stake (PoS) and proof-of-storage. PoW are called Founder Nodes, which are tier-1 nodes based on 50,000 fully-owned NFTs. These are early supporters of the network, and will receive NFTs from all subsequent games and GALA allocated to their node license. PoS are paid nodes that operate for specific games, through a smart contract “rental” structure. Proof-of-Storage are free nodes that will allow the games to be fully hosted on the node ecosystem, removing reliance on centralized hosting solutions like Amazon S3.
How Many Gala Games (GALA) Coins Are There in Circulation?
The maximum total supply will be 35 billion GALA tokens. Currently, there is about 7 billion GALA in circulation.
17,123,286 GALA is distributed daily at approximately 0200 UTC. Half of this GALA is distributed to Founder’s Node operators, and half to the Gala Games conservatorship. Each year, on the 21st of July, the distribution of GALA will be halved. For example, beginning on July 21st of 2022, the daily distribution of GALA will be 8,561,643 instead of 17,123,286.
The GALA token serves as a utility token that is used to purchase items in the game and can be earned from running a node.
How Is the Gala Games Network Secured?
The GALA token runs on Ethereum and the Binance Smart Chain (BSC) blockchain. The network is secured by its own set of nodes called Founder’s Nodes. Gala Games specifies a maximum of 50,000 Founder’s Nodes that validate in-game transactions and secure the network.
Nodes can also vote about which games are released to the Gala Games platform. You can operate a node by purchasing an account and running it on your computer. GALA are rewarded to node operators according to a point system. Running a node for a minimum of six hours in a cycle scores 1 point and referrals running nodes for at least six hours scores 0.1 points. At the time of distribution, all of the points are added up and the GALA is split between these points.
Can Gala Games Hit $1?
Gala Games is trading around $0.5 as of December 2021, so reaching $1 would require a 50X. Gala Games certainly has an interesting ecosystem of games and very experienced leadership, so even such an ambitious goal could happen in a few years.
Where Can You Buy Gala Games (GALA)?
As of August 2021, you can buy GALA on Sushiswap, Gate.io, Uniswap V3, KuCoin, Bitrue and Gate.io.
How To Buy GALA Coin.
With the recent hike in the price of GALA , there has been a high demand from potential investors who wish to buy and own GALA Coin, A lot of crypto investors are searching the internet to get the right information on how to how & where to get their Token as well as storing them in a secured wallet.
GALA is a freely-tradable token, with the majority of volume on major exchanges occurring on Uniswap V3, Sushiswap, KuCoin, Bitrue and Gate.io. Pairs against other cryptocurrencies and stablecoins are active, as well as with fiat currency, including on Bankman-Fried’s FTX exchange
NOTE THAT: GALA cannot be directly purchased with fiats currency. However, You can easily purchase this token by purchasing USDT or any major Crypto Currencies like BITCOIN from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this GALA Token, in this guide article we will walk you through in detail the steps to buy and own your first GALA Asset.
Register on Fiat_to_Crypto Exchange
Since you can’t buy GALA directly with Fiat Currency, You will have to buy one of the major cryptocurrencies (BTC, USDT, ETH). But in this case let’s consider USDT (USDT). You can perform this transaction on fiat-to-crypto exchanges, like Coinbase.com, Coinbase is one of the largest crypto exchanges that accept fiat deposits.
All you need to do, create account with them ( ensure you keep your password safely) after creating an account then move to the next step which is to buy USDT.
Buy USDT with fiat Currency
Once you finished with account creation and KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a direct bank transfer.
PLEASE NOTE: You will be charged higher fees when using cards but you will make an instant purchase. While a bank transfer attract lower charges but slower purchases, Though it sometimes depends on the country of your residence, some countries will offer instant cash deposit with low fees.
Now that you have successfully added your card to coinbase, you have to trade USDT, click the ‘Trade’ button right at the top left, choose USDT and confirm your transaction.
Transfer USDT to an Altcoin Exchange
After buying your USDT, it’s worthy of note that since GALA is an altcoin that can’t be traded in all Crypto exchange, we need to transfer our USDT to an exchange that GALA can be traded, Let say Gate.io. Many exchanges has their own policies as some has restrictions to some countries, for example Binance does not allow investors from USA as customers. So you have to choose an exchange that suit your location and create an account with them before proceeding to the next steps.
PLEASE NOTE: It will always be advisable to set up 2FA authentication as it adds extra security to your account.
Deposit USDT to Your Preferred exchange
Depends on the policies of the exchange, you might be required to go through another KYC process, this usually takes minimum 0f 30 minutes and a maximum of a day, After the whole verification process you are now good to go.
Since we are now transferring our previously bought USDT from Coinbase to the exchange where GALA can be traded (Gate.io), click on ‘Copy Address’ or right-click on the full address and click copy to grab this address to your clipboard. Now head back to Coinbase, go to Portfolio page and click on the USDT on your asset list, then click on ‘Send’ on the right.
Under the Recipient field, paste the wallet address from your clipboard (from the exchange you want to send your USDT to), for security and accuracy reason, you should always check if both addresses are matching and Click ‘Send’ to proceed, you should receive a confirmation email instantly, click on the confirmation link on the email and your coins are on the way to your preferred exchange.
Now go to your exchange to confirm your USDT arrival, don’t worry if you haven’t seen your deposit almost immediately, It might be undergoing some network verification on blockchain network and this should take a few minutes for your coins to arrive. Depending on the network traffic condition of the USDT network, during busy times it may take even longer.
You should receive a confirmation notification from your exchange once your USDT has arrived. guess what? You are now finally ready to purchase your Coin
At this stage which is the final of your purchase, held to your exchanging platform, then go to ‘Exchange’. make sure “USDT” is selected to be able to trade USDT to altcoin pair of your choice, in this case SUSHI. You should see GALA /USDT, select that pair and you should see a price chart of GALA /USDT in the middle of the page. All you need to do is to execute your order and you are done getting your SUSHI Token.
Some Top Exchanges You Might Love Base On Your Location
BitMart – Is one of the most trusted cryptocurrency trading platform which provides real-time trading services including Bitcoin (BTC), Ethereum (ETH) and other Altcoins. It accept American customers unlike BINANCE that doesn’t support American customers.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services.
Gate.io is an American cryptocurrency exchange that launched 2017. As the exchange is American, US-investors can of course trade here.
After Purchasing your GALA , and your plan is to hold it for long. You will have to open a secure wallet online or you make use of appropriate “Cold Wallet” as there had been too many hacking incidents associated with online and funds had lost severally.
Thank you for your time, note that this page is open for update and corrections. Please Note That, buying of crypto currencies is at your own risk, all our post is for education purpose and it’s advisable that you buy according to the dollars you can afford to lose. You can as well check out how to buy HotCross.