GALA: The Next Big Thing in Crypto?
GALA is a new cryptocurrency that is set to take the world by storm. Investors and end-users alike find it appealing because of features like quick payments, cheap costs, and a safe network.
GALA employs a unique algorithm that allows for more efficient mining than other cryptocurrencies. If you are looking for a new investment opportunity or just want to use a new currency, GALA is definitely worth checking out!
GALA coin: What is it?
Gaming and blockchain pioneers Wright Thurston, Michael McCarthy, and Eric Schiermeyer set out to create Gala Games in 2018 with a single purpose in mind: giving gamers back control of the gaming experience.
These co-founders hope to appeal to a broad spectrum of players who want to see a shift in the gaming industry.
Gala Games’ first move toward decentralizing their games and giving players ownership control was the launch of their NFTs, which can be gathered, traded, and sold throughout the Gala Games ecosystem.
Gala Games has set up an Ethereum-based blockchain platform powered by GALA, their native token. As a utility token, GALA can be used to buy in-game items. Transferring GALA tokens between users is unrestricted.
In keeping with Gala Games’ emphasis on involving players in ownership and governance, players can earn GALA by operating their own Gala Games Node to expand the Gala Games network.
The price of GALA
Following its mid-month listing on Binance and Bibox trading platforms, Gala Games token’s price increased by 51,594% to $0.113 on 23 September 2021 from its previous all-time low of $0.00022 on 28 December 2020.
The GALA coin price fluctuated between October and mid-November following upgrades to Gala Games’ inventory and the issuance of a memorandum of understanding involving Gala Games and Wemade Tree (the blockchain division of Korea-based gaming giant Wemade).
Gala’s current price is $0.070267 USD, with a trading volume of $559,750,615 USD in the last 24 hours..
How many GALA are currently in circulation?
The total number of GALA tokens that can be issued is 35 billion. Currently, there are around 7 billion GALA tokens in use.
A total of 17,123,286 GALA is given out every day at around 0200 UTC. Gala Games Founder’s Node operators receive half of this GALA, and the Gala Games conservatorship receives the other half.
This daily GALA distribution will be cut in half starting July 21, resulting in a daily distribution of 8,561,643 tokens.
The best places to purchase GALA tokens
Gala has been recognized on several of the top crypto exchanges because of its prominence in the blockchain gaming field. GALA can be purchased at these locations:
GALA was first listed on eToro on 1 March 2022. Because of its many user-friendly features, eToro is believed to be the best trading platform for purchasing cryptocurrencies in the current marketplace.
GALA was added to this marketplace on 26 October 2021. This site charges a 2.99% fee for debit card investors to invest in Gala. For individuals who want to invest in Gala using crypto, Crypto.com charges between 0.04 and 0.4% in maker costs and 0.1% to 0.4% in taker fees.
Coinbase listed GALA in December 2021. Traders from all over the world are now using Coinbase’s user-friendly interface to invest in Gala Games because of its promise in the blockchain gaming sector.
As of 13 September 2021, Binance became the most cost-effective place to invest in GALA. The crypto exchange waives all fees for depositors who use cryptocurrencies for transactions. It’s worth noting that Binance charges a commission of just 0.10 percent when converting GALA to Bitcoin, BNB, or Tether.
Reasons for Gala Games’ growth
The launch of nodes for Town Star
Play-to-earn game Town Star allows players to build a town and compete in farming competitions. The number of people who have played Gala Games’ most successful game is shocking to say the least, with about 600 million users.
As of November, Gala Games announced that players could purchase licenses to run Town Star nodes, which essentially meant that they would receive additional benefits for powering the game. There will be a TOWN token for Town Star which will be unique to the game.
The growing popularity of cryptocurrency-based gaming
Crypto-based gaming platforms like Gala Games are becoming increasingly popular. This has fueled the growth of the Gala Games Platform and its GALA cryptocurrency.
There are a lot of reasons for the high growth of blockchain gaming. One of these is the “play to earn” model of gaming, in which players are rewarded for their time and work in the game.
Previously, players would spend hours in a game accumulating points or upgrading their equipment only to have their progress erased if the game was closed or they quit playing. Now, players’ time is rewarded with in-game perks and even real cryptocurrency.
It’s now possible to buy in-game currency and improvements for money. In-game tokens can be swapped for real currency like dollars on cryptocurrency exchanges.
A second reason has been the increase of interest in NFTs in general. As NFTs become more and more mainstream, companies are looking for creative ways to reach this growing audience. Crypto-based gaming platforms are an excellent way to do this.
As a result of the phenomenal rise in GALA price, investors are paying close attention to this relatively new token. Some investors are betting that this will be the next big thing and are stocking up in anticipation of a price increase.
Like music and fashion, though, the crypto space is a highly competitive and quickly changing sector. Not even industry experts can anticipate what will happen in the future.
While GALA may be at the top of the performance crypto charts at the moment, no one knows how it will do in the future. Will GALA become the next big thing? Only time will tell.
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