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The live price of Gala (GALA) today is 0.046547 USD, and with the current circulating supply of Gala at 27,799,861,148.42 GALA, its market capitalization stands at 1,294,001,793 USD. In the last 24 hours GALA price has moved ? USD or 0.00% while ? USD worth of GALA has been traded on various exchanges. The current valuation of GALA puts it at #83 in cryptocurrency rankings based on market capitalization.
Learn more about the Gala blockchain network and how it works or follow the price of its native cryptocurrency GALA and the broader market with our unique COIN360 cryptocurrency heatmap.
Gala Games was launched in 2019 by Eric Schiermeyer (co-founder of Zynga), Wright Thurston and Michael McCarthy, as a play-to-earn gaming project that aims to create an ecosystem wherein players decide what blockchain games they’d like to play and exercise complete control over them. Since players receive complete ownership of their in-game NFT assets, they are free to use them as they prefer, within or outside the Gala Games ecosystem.
The Gala Games project is currently deployed on both Ethereum and BNB Smart Chain. However, the developers are currently working on a native proprietary blockchain called GalaChain, which will help resolve issues like scalability and high transaction fees currently faced by the project.
Ever since its launch, Gala Games has made great strides and has formed fruitful partnerships with the likes of AMC’s The Walking Dead, Under Armour and Frank Miller. The available games in the Gala ecosystem include Townstar, Spider Tanks and Town Crush, with many more under development. The platform has also launched its NFT collectible series called VOX. As of writing, Gala Games claims to have 1.3 million monthly active users.
The GALA price stayed well under a cent from the time of Gala Games’ launch in 2019, till February 2021, when it started rallying upwards amid a crypto market-wide bull run and touched $0.03 for the first time in late February 2021. Thereafter, GALA coin’s price kept fluctuating between $0.01 to $0.03 till September that year. According to our GALA live price chart, the token breached $0.05 resistance for the first time in mid-September, amid the second crypto rally of 2021.
Buoyed up by overall bullish market sentiment, GALA price registered a noteworthy upward surge two months later in mid-November 2021, breaking multiple resistance levels, and reaching its all-time high of $0.84 on November 26, 2021. GALA’s fully diluted valuation was well over $40 billion at that time. GALA coin’s price has since charted a sideways downward movement, and the token was trading in the vicinity of $0.04 in Q2, 2022.
Gala Games is powered by its users who run nodes from their home computers. These nodes can be of three different types – Founders Nodes, Game Nodes and Storage Nodes.
The Gala ecosystem is supported by its native GALA token, which exists both as an ERC-20 as well as a BEP-20 token. It has multiple use-cases including the purchase of in-game NFT assets, rewarding players and incentivization of the Founder Node operators.
Founder Nodes are tier-1 nodes that form the backbone of the Gala ecosystem. There are only 50,000 of these nodes that will ever exist, and as of writing, you can buy them directly for 1.21897 million GALA tokens, from the Gala Games official website. Founder nodes implement a ‘see-saw’ algorithm that decides if the Gala network requires storage or processing power at any given time, and facilitates on-the-fly adaptation. Running a Founder’s Node contributes to the growth of Gala’s decentralized gaming network, and provides players actual ownership of their content and assets. In return, Founder Node operators receive GALA tokens, governance power and gaming NFTs.
Game Nodes are game-specific nodes that power a specific game in the Gala ecosystem. These nodes run based on a smart contract ‘rental’ structure and help in developing a localized network for the concerned game, thus facilitating the scalability of the overall Gala network. The rewards and governance rights earned by Game Nodes are specific to the game they support.
Lastly, Storage Nodes are free nodes that allow for a Gala game to be entirely hosted on the Gala’s node ecosystem, thus doing away with the need for any centralized hosting providers.
In important GALA news, Gala Games and a well-known crypto investment firm, C2 Ventures, announced the creation of a joint $100 million fund in December 2021. The purpose of this fund is to invest in upcoming metaverses, play-to-earn games and various other projects being built using blockchain technology. With the global gaming revenue expected to touch $200 billion by 2024, this collaboration came as a welcome move for GALA ecosystem’s future growth.
As per another GALA news story, reported on June 1, 2021, on the platform’s official website, Gala Games announced the integration of Chainlink’s Verifiable Random Function (VRF) with its ecosystem, to facilitate truly random NFT drops. Chainlink’s VRF functions as a fully tamper-proof and verifiable RNG (Random Number Generator) which can serve all RNG-based functions in the Gala ecosystem.
How can you earn GALA tokens?
You can earn GALA tokens by running a Founder Node in the Gala Games ecosystem. Alternatively, you can also win GALA tokens as a reward by playing and excelling in Gala’s featured games.
Which are the most commonly used GALA wallets?
Some of the best GALA wallets include MetaMask, Ledger, Trezor, Atomic Wallet and Trust Wallet.
What can you do with GALA tokens?
You can use your GALA tokens to buy NFT assets within the games featured in the Gala ecosystem. The token can also be used to purchase Gala nodes.
How can you buy GALA cryptocurrency?