Gala (GALA) Price Today: GALA Live Price, Charts, News - Crypto.com UAE

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Gala price history

Time	Price	Change
Today	€0.0015	0.00%
1 day	€0.0015	+€0.000018 (1.28%)
1 week	€0.0015	-€0.000019 (1.20%)
1 month	€0.0023	-€0.00078 (34.09%)
1 year	€0.0079	-€0.0064 (81.15%)

About Gala

Gala Price Summaries

Gala's price today is €0.001506, with a 24-hour trading volume of €25.09M. GALA is +1.28% in the last 24 hours. It is currently -7.71% from its 7-day all-time high of €0.001632, and 8.08% from its 7-day all-time low of €0.001394.GALA has a circulating supply of 51.05B GALA and a max supply of 51.05B GALA.

What is Gala?

Gala (GALA) is a functional utility token that works as a medium of exchange amongst Gala Games ecosystem players. GALA is now based on the Ethereum blockchain and adheres to the ERC-20 standard.

A brief history of Gala

Blockchain gaming platform Gala Games was launched in 2020 by founders Eric Schiermeyer and Michael McCarthy to create a gaming environment that gives its players complete ownership and control over their in-game assets.

Schiermeyer was formerly a part of Intermix Media, the business behind MySpace, and the co-founder of Zynga, a billion-dollar company founded in 2007 to connect the world through games. McCarthy was the creative director of Zynga, where he created Farmville 2, a popular Facebook game. Early on, the two identified the potential of play-to-earn games, which give consumers the power to earn lucratively and enable producers to genuinely concentrate on game quality.

Gala Games prioritised decentralisation from the get-go, leading the company to reject an early distribution, such as an initial coin offering (ICO) or presale, in order to allow for an organic release of the tokens via its node network. For this to happen, Gala’s initial plan of action was to expand the gaming network by selling ‘Founder’s Nodes’, which form the basis of Gala Games’s ecosystem. These nodes give rewards via Gala tokens, NFTs, and governance authority.

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. Gala Games intends to upend the free-to-play model popularised by Fortnite, in which players rented in-game goods from the developer.

The GALA token has a fixed maximum supply of 50 billion units. Out of this, close to 7 billion GALA are currently circulating. This represents about 14% of the maximum total. Gala Games has a staggering 1.3-plus million active users.

How Gala works

The Gala Games ecosystem includes a bespoke utility and governance token, a responsive blockchain, and NFT technology. Developers may use these tools to build on the network.

Players in the Gala Games ecosystem may possess non-fungible tokens (NFTs) and influence game management. The Founder’s Nodes voting mechanism enables players to influence which games Gala develops and which games get funded. Gala Games employs its utility token, GALA, and purchases NFTs for specific games.

What is Gala used for?

Developers use Gala’s blockchain technology to design better and more lucrative titles. The network hopes to accommodate the most recent and immersive metaverse opportunities to create more enjoyable blockchain-powered games.

Gala aims to give players a cut of the billions of dollars produced by gaming platforms. The network seeks to make it possible for users to extract value from the gaming ecosystems in the form of NFTs and other digital assets, for both Gala blockchain’s supporters and players. The supporters, specifically those who run network nodes, are paid GALA tokens in exchange for their work in powering the Gala ecosystem and peer-to-peer transactions. Meanwhile, players may leave the gaming environment and swap their things for other popular cryptocurrencies on several decentralised exchanges (DEXs). These players can also choose to buy more NFTs and in-game items using GALA tokens.