Exchange Gala (GALA)

Gala Games is a blockchain-based gaming platform that aims to empower game developers and players by decentralizing and owning in-game assets. It offers a variety of games built on blockchain technology, allowing players to truly own their in-game items and assets, which can be bought, sold, and traded securely on the blockchain. Gala Games also provides tools and resources for developers to create and launch their blockchain-based games on the platform.

Gala Games was founded in 2019 by Eric Schiermeyer, known for his involvement in creating Zynga, a popular social gaming company. Schiermeyer founded Gala Games to revolutionize the gaming industry by leveraging blockchain technology to empower players and developers with true ownership of in-game assets.

The platform officially launched in 2020, aiming to provide a decentralized gaming ecosystem where players can own and trade in-game items securely on the blockchain. Gala Games offers a range of games developed both internally and by third-party developers, all utilizing blockchain technology to ensure transparency, security, and true ownership for players.

The Gala Games ecosystem stands as a decentralized network built upon the Ethereum blockchain, leveraging the ERC-20 protocol for seamless interoperability and compatibility. This robust infrastructure employs a hybrid approach to transaction verification, integrating elements of proof-of-work, proof-of-stake, and proof-of-storage consensus mechanisms. By utilizing these varied methodologies, the network ensures the validation of transactions and fortifies the security of the blockchain, underpinning the reliability and integrity of the Gala Games platform.

The goal of Gala Games is to foster a community-driven gaming environment where players have more control over their gaming experiences and where developers can create innovative games without the limitations imposed by traditional gaming platforms.

The driving force behind Gala Games is a passionate team deeply entrenched in the gaming realm, harnessing the transformative power of Web3 technology to grant gamers unprecedented freedoms: the freedom to own, earn, and play like never before. By seamlessly integrating Web3 technology, Gala Games pioneers a user-friendly onboarding process, allowing gamers to dive into blockchain transactions effortlessly through platforms like Coinbase or MetaMask. Moreover, Gala Games simplifies access further by enabling direct purchases with credit cards, ensuring accessibility for all.

In collaboration with OpenSea, Gala Games fosters an ecosystem where players can effortlessly trade their in-game assets peer-to-peer, leveraging the inherent transparency and security of blockchain technology. The Gala Games community thrives within Discord, where every user is allowed to participate in the discussions, nurturing an open dialogue that underpins the platform's success.

Gala Games and GALA are dedicated to reinstating a sense of ownership for gamers, empowering them to influence the platform and retain the rewards they earn during gameplay. The question arises: how can the platform sustainably compensate players with currency of tangible value? Gala addresses this by creating collectible non-fungible tokens (NFTs), digital assets integral to their gaming experience. These NFTs are initially offered to the public and subsequently traded among users, generating real value.

To finance player rewards, Gala employs a clever mechanism. Each time a Gala NFT changes hands through buying or selling transactions, Gala earns a 2.5% royalty commission. This innovative approach not only supports the platform financially but also aligns with the interests of Gala and its gaming community.

A prime example of Gala's NFT ecosystem is the Vox Collectibles series. These NFTs represent avatar characters for use in games like Town Star on the Gala platform. Users can acquire and trade these Vox Collectibles on well-known marketplaces such as OpenSea or LooksRare. Notably, the rarity of certain Vox Collectibles contributes to their substantial market value. As of September 2022, prices for Vox Collectibles NFTs fluctuate between 0.7 and 20 ETH, translating to a value range of $1,100 to $32,000. This dynamic market underscores the tangible worth Gala Games brings to players through its NFT ecosystem.

Expanding its horizons beyond gaming, Gala Games broadens its mission to encompass all facets of Web3 entertainment, unveiling Gala Music and Gala Film. Notably, the VOX generative NFT avatar project captivates imaginations with its successful series drops, including notable collaborations with Dreamworks’ Trolls and AMC’s The Walking Dead. A metaverse home for all VOX avatars, crafted by visionary Will Wright, promises an immersive journey into the realms of creativity.

At the heart of Gala Games lies the concept of ownership, epitomized by the collection of in-game NFTs. These coveted assets offer players a dual opportunity: to wield them in-game for strategic advantages or to unleash their value through trading on the secondary market. This empowerment liberates players, affording them the flexibility to explore diverse gaming experiences without constraints.

While Gala Games boasts an impressive portfolio of internally developed titles such as Town Star, Mirandus, and Last Expedition, it also collaborates with esteemed external gaming studios, enriching its offerings. The Gala Games platform continues to evolve with the unveiling of its "games-first" layer-1 blockchain solution, Project GYRI, enhancing transaction efficiency while empowering GALA token holders through innovative tokenomics.

On the Gala platform, all games are readily accessible at no cost, enabling players to dive into gameplay and begin earning Gala rewards instantly. For those seeking a more immersive gaming experience, Gala offers the option of becoming a Gala Gold member for a one-time fee of $50. Gold members unlock exclusive benefits, including access to a private Gala Discord community, and fostering connections with fellow members. Additionally, Gold members enjoy special privileges such as sneak peeks into upcoming developments from the Gala development team and complimentary NFTs upon the introduction of new games to the platform. This membership enhances the gaming journey, offering a tailored experience for enthusiasts keen on diving deeper into the Gala Games universe.

As Gala Games charts its course into the future, a roadmap brimming with announcements and releases underscores its ambition to reign supreme as the global leader in Web3 gaming. The journey ahead holds boundless promise as Gala Games continues to redefine the landscape of gaming and entertainment, ushering in a new era of digital experiences.

The native token of Gala Games is called GALA. GALA serves as the primary utility token within the Gala Games ecosystem. GALA can be used as an in-game currency within various games on the Gala Games platform. Players can use GALA to purchase in-game items, upgrades, or other virtual goods. Gala Games emerges as a beacon of innovation at the crossroads of Web3 technology and gaming, propelled by the collective wisdom of industry luminaries boasting centuries of combined experience. What sets Gala Games apart is its unwavering commitment to prioritizing the essence of gaming – a commitment to delivering unparalleled gaming experiences that transcend boundaries.

Additionally, GALA plays a pivotal role as the gas token, covering network fees on Gala's bespoke blockchain. This ensures smooth and efficient transactions within the ecosystem, enhancing user experience and scalability.

In terms of emission, GALA follows a balanced distribution model. Each day, 50% of newly minted GALA tokens are allocated to Founder’s Node operators as rewards for their operational contributions. The remaining 50% is channeled into the Gala Games conservatorship, where it is earmarked for future ecosystem expansion and project funding. This strategic allocation ensures sustainable growth and fosters ongoing innovation within the Gala Games ecosystem.

GALA holders also can participate in the governance of the Gala Games ecosystem. This means that holders can vote on proposals and decisions related to the development and direction of the platform.

GALA can be staked to earn rewards within the Gala Games ecosystem. Staking GALA helps secure the network and allows participants to earn additional tokens as rewards for their contribution.

GALA tokens can be traded on various cryptocurrency exchanges, allowing users to buy, sell, and exchange GALA for other cryptocurrencies or fiat currencies.

The total supply of GALA tokens is capped at 35 billion tokens with no max supply, and as of March 13, 2024, the circulating supply is 29,511,156,316 GALA. 

The Average Fees for the Gala Games

Gala Games doesn't charge any fees for playing its games. However, there are transaction fees associated with blockchain interactions, such as buying or selling NFTs, which are incurred on the Ethereum blockchain. These fees are known as gas fees and are necessary to execute transactions on the blockchain. The specific amount of gas fees can vary based on network congestion and the complexity of the transaction.

The GALA Token Wallets 

The GALA tokens are ERC-20 assets and thus can be held in any of the wallets that support this token standard, including Meta mask, Atomic Wallet, Ledger, imToken, Torus, Token Pocket, Trust Wallet, SimpleHold Wallet, Wallet Connect, OKX Wallet, etc.