Join the hundreds of thousands of investors who trust Ndax, a reputable trading platform known for its robust security measures and seamless trading experience. This helps ensure that resources are spent delivering the games and experiences that people want and producing assets that are uniquely tailored to its community. The $GALA token employs a Gnosis multisig safe, a secure arrangement ensuring that no single team member has unilateral access. This system reinforces the principle of collective oversight and enhances operational security.
- Schiermeyer was previously known for co-founding the online gaming platform Zynga, which pioneered the development of Farmville, Mafia Wars, and many other popular mobile games.
- Another issue highlighted by Coin Bureau is a lack of transparency about Gala’s tokenomics.
- That said, it is important to note that GALA does suffer from significant supply inflation.
- Gala players are able to own NFTs (non-fungible tokens) which allow them to influence how games are run and vote on new games.
On May 15th, $GALA(v will be dropped 1:1 to all $GALA holders as the new-and-improved Gala Games ecosystem token
Today, Gala is focused on creating its proprietary blockchain GalaChain, building partnerships, and acquiring popular gaming companies. GalaChain was created to significantly cut network costs and provide higher scalability than Ethereum. Gala has also made progress in developing ties with companies like Frank Miller, Under Armour, and AMC’s The Walking Dead, with many more on the way.
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GALA is a blockchain-based, play-to-earn gaming platform that enables users to earn its GALA token for accomplishing in-game missions and milestone achievements. Players can also create and trade non-fungible tokens (NFTs) in the game or via non-game-based exchanges to earn crypto that can be converted to other digital assets including cash. Gala (GALA) has gained traction in the gaming industry, with several real-world adoption examples and promising future prospects. One notable example is within the Gala Games ecosystem itself, where GALA tokens are extensively used for in-game purchases, powering economies within various games developed by the Gala Games team and community.
What is $GALA?
With an eye beyond the horizon, our team is dedicated to ensuring GALA and the Gala Games ecosystem remain at the forefront of blockchain technology and usability. Unlike most play-to-earn games, which typically have a player base that numbers in the tens to hundreds of thousands, Gala Games has a staggering 1.3+ million active users. As a result, games launched through the platform are likely to become among the most popular P2E games in the blockchain space right off the bat. Games on the Gala network offers blockchain-powered gaming experiences where the platform has close to half a dozen games in its development roster.
Live Gala Price Today
Each day, a pre-specified amount of new GALA tokens is distributed – half to Founder’s Nodes and half to the Gala Games Conservatorship, which acts as the treasury for Gala Games. Between July 2022 and July 2023, 8,561,643 GALA were planned to be distributed daily. The daily issuance is cut in half every year, so beginning in July 2023, this measure will adjust to slightly fewer than 4.3 million tokens. Gala produces its own wallet software that is available for download on its website, which allows you to store Gala on your computer. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Gala.
I own GALA. Is action required on my part to ensure I receive the GALA (v token drop?
Additionally, GALA tokens enable governance participation, empowering holders to vote on platform decisions, proposals, and upgrades, fostering a decentralized ecosystem where community voices are heard and valued. Moreover, GALA tokens can be staked to secure the network, earning rewards in the form of additional tokens, thereby incentivizing token holders to actively participate in maintaining the platform’s integrity and security. Since its inception, Gala (GALA) has evolved significantly, transitioning from a concept of decentralized gaming to a thriving ecosystem within Gala Games. Overall, Gala (GALA) has grown into a dynamic ecosystem focused on innovation, decentralization, and empowering players with true ownership of in-game assets.
In theory, this means that if there are inflation issues, they will be in the specific games rather than across the whole ecosystem. Another issue highlighted by Coin Bureau is a lack of transparency about Gala’s tokenomics. A December video pointed out that there isn’t a lot of documentation about how the token works. Gala (GALA) is a functional utility token that works as a medium of exchange amongst Gala Games ecosystem players.
Schiermeyer has been operating on the cutting edge of technology for a long time. He co-founded Myspace, a well-known and extremely popular social media hub, before the rise of Facebook. As it stands, there are a number of reasons why somebody might want to acquire the GALA token (beyond mere speculation). These include purchasing in-game assets, operating a node, and maximizing in-games revenues.
GALA is now based on the Ethereum blockchain and adheres to the ERC-20 standard. Reflecting its status as one of the top decentralized gaming platforms, GALA is listed on almost all top-tier centralized exchange platforms. However, you can also buy it on Ethereum-based decentralized exchanges like Uniswap. Gala Games is a platform for game development and an ecosystem of games with a decentralized governance how do you value a company based on financial statements structure that allows players to have a say in what sort of games are funded. As the Gala Games ecosystem continues to grow and evolve, we are thrilled to announce the upcoming launch of GALA(v2) on May 15th. This upgrade to the Ethereum contract for the Gala token brings a host of improvements to the table, including enhanced burn mechanisms, security enhancements, and future upgradeability.
The developers also actively solicit feedback from its player community regarding the types of games they want GALA to develop and add to the platform. According to a report last month from trend-spotting firm Gartner, a quarter of us will spend at least an hour each day shopping, working, playing, or learning in the metaverse by 2026. One cryptocurrency that’s well-positioned right now to grow and benefit from that future trend is Gala Games (GALA). But here are four things you should know about this potential metaverse play before investing.
A full explanation of the decentralized system, as well as a Gala Games Node Ecosystem Map, can be found on the company’s website. Gala is the currency between Gala Games participants and can be used to purchase in-game items. Newer cryptocurrencies are also riskier than more established ones, such as Bitcoin, and make you more vulnerable to scams.
On GalaChain, $GALA may be traded using the ecosystem’s decentralized exchange protocol, GalaSwap. “The feedback I’m getting, but certainly not confirmed by the VP, is that she will be far more open to business, [artificial intelligence], crypto and government as a service,” Cuban added. “Our wallet security remains robust,” Sumit Gupta, co-founder and chief executive of CoinDCX, wrote in a tweet.
This includes RPG games, space exploration games, tower defense games, and more. Play-to-earn and blockchain-powered games with player-owned assets are nothing new in the cryptocurrency industry. However, Gala Games has a few tricks up its sleeve that arguably help it blaze its own trail in this increasingly crowded space. The maximum supply (maxSupply) of $GALA is set to 50 billion tokens, and the daily emission rate is dynamically adjusted based on the Circulating supply. The circulatingSupply is subject to decrease (burn) when $GALA is used as gas within the Gala ecosystem or when it’s expended in ecosystem-supportive activities.
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Thanks to this technology, many games on Gala can allow players to Play-to-Earn. In some games, players are even rewarded for various activities in the game’s cryptocurrency beyond being able to sell NFTs that they have accumulated. Purchasable in-game items within the Gala ecosystem are non-fungible tokens (NFTs) on the Ethereum blockchain. These items can have a utility that differs wildly, ranging from cosmetic changes for player characters to items or even character progression elements. The Gala Games network depends on community-owned nodes that help power the platform. Likewise, the development team and operating staff are constantly engaging with the community to determine which games/features are most sought-after by the community.
This interplay between emission rate adjustment and totalSupply reduction establishes a dynamic, responsive supply system. Gala never executed an ICO or other initial issuance event for the $GALA token. Instead, new $GALA entering the circulating supply is issued exclusively to Founder’s Node operators as rewards for powering the decentralized ecosystem. This is the latest setback for WazirX, which separated from Binance in early 2023 after the two crypto exchanges had a public and high-profile fallout in 2022.
Gala (GALA) is a cryptocurrency designed to revolutionize the gaming industry by providing a decentralized platform for virtual worlds, games, and digital assets. It aims to empower developers and gamers alike by offering a transparent, secure, and interoperable ecosystem for creating, owning, and trading in-game items and experiences. With Gala, players can truly own their digital assets, https://cryptolisting.org/ transcending traditional gaming boundaries and unlocking new opportunities for creativity and economic empowerment. Gala (GALA) has several primary use cases within the Gala Games ecosystem and beyond. Firstly, GALA tokens serve as a medium of exchange within the Gala Games platform, allowing users to purchase in-game assets, pay for services, and participate in various gaming activities.
Similar to Bitcoin and many other cryptocurrencies, Gala Games included a halving cycle in its emission schedule. The next halving is scheduled for July 21, 2022, which will see the emission rate drop to 8,561,643 GALA per day. The Ethereum-based $GALA token is listed on many private exchanges throughout the world, as well as many decentralized exchanges. Gala is a web3 ecosystem powered by a layer-1 blockchain (GalaChain) built to power the Gala entertainment ecosystem that originally included Gala Games, Gala Music and Gala Film. More recently however, GalaChain has opened its doors to external developers and projects from any applicable industry, providing open source developer resources to simplify the process. The Harris camp seems to be trying to ensure that the candidate can curry favor with crypto enthusiasts ahead of this November’s election.
