During the NFT boom and increased massive crypto adoption, Gala Games came into the light to connect the gaming industry and blockchain and offer users unique possibilities to earn every item in the game. See Gala token price prediction to decide if it is the right idea to invest in.
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Gala Fundamental Analysis
Gala token is the native ERC-20 token powering Gala Games Network that aspires to change the way people play on the blockchain and make it more interesting and motivating for them. Thanks to the simple gaming technologies users can’t “see” the blockchain, instead, they just have colorful animated gameplay that makes it accessible even for players without a crypto background.
Another unique feature of the project is that all the earned, obtained, or found objects can be minted as NFTs, stored, or traded at the NFT marketplace. It motivates people to play more, as they never lose their progress, own every asset in the game, and can even earn by trading NFTs. The platform also provides governance rights to the users, so they can decide how the development of the game should go. At the moment of publishing, there are more than 1.3 million active users on the platform.
Gala games were launched in 2019 by Eric Schiermeyer, the co-founder of Zynga, a company developing mobile games. The network currently has only one game called Town Star with functionality similar to SimSity.
GALA token is needed to govern the platform and it’s also a measure of payment on the platform, used for buying the items and non-fungible tokens. It has a circulating supply of 7.5 million and the total supply of 36.2 billion tokens, available on many major exchanges, including Binance.
Gala Live Price Chart
At the beginning of the year, GALA token cost $0.016 and its price stayed on the same level till the beginning of February. At that time the price went up and reached $0.026 at the end of the month. But right after getting to this milestone, token went for a long bearish rally.
The price was slowly declining till it reached the support level of $0.012 in mid-April. GALA kept this position for 3 months and then started to increase the value in the middle of July. By the end of the month, the price started to grow, reaching $0.024 and slowly bouncing in the range from $0.017 to $0.029 till the beginning of November.
In November due to the Metaverse hype GALA token suddenly skyrocketed, reaching its all-time high of $0.77 on November 25. All the previous week the token was beating its own records, reaching new ATH in a matter of days or hours.
GALA token has gained over 300% since the beginning of the month and the market is still bullish, making analysts argue with what is going to happen to the asset next.