Gala Games is a play-to-earn (“P2E”) gaming ecosystem that lets users earn, own, and trade their in-game assets.
Token holders can also vote on game development concerns such as game releases and reward systems.
Gala Games doesn’t release roadmaps or whitepapers but markets pay attention to the company because it was founded by Eric Schiermeyer, co-founder of gaming company Zynga that brought us FarmVille and Mafia Wars.
What’s more, the company has had around 1.3 million monthly active users since its launch in 2020.
How does it work?
The Gala network was built on the Ethereum blockchain but has since been bridged to the Binance Smart Chain to facilitate faster and cheaper transactions.
A set of “Founder’s Nodes” validate in-game transactions and provide processing and storage power to the network.
In return, Founder Node operators get GALA tokens that they can use to vote on governance issues. They can also win rare NFTs from a daily drop.
So far, Gala Games has released two games that users can play for free. Town Star lets players build and manage their own towns.
They can buy NFTs to enhance their towns and compete in challenges to win play-to-earn rewards. Spider Tanks is a multiplayer online battle arena (MOBA) game that lets users outfit a “spider tank” to battle other players.
Gala Games is developing seven other games that cover tower defense, first-person shooter, and space genres.
Gala Games also has a built-in NFT marketplace that supports all in-game assets. The items are divided into six rarity classes (Common, Uncommon, Rare, Epic, Legendary, and Ancient) and can be bought with cryptocurrencies supported by the crypto platform CoinPayments.
Gala Labs, a division of Gala Games, is also working on an avatar NFT project called Vox. The avatars – made with voxels – are ERC-721 tokens that have randomized traits and can be used as characters in the company’s games.
Team background
Gala Games was founded by Zynga co-founder Eric Schiermeyer, Zynga Creative Director Michael McCarthy, and blockchain enthusiast and Give Blockchain co-founder Wright Thurston.
It officially operates as Blockchain Game Partners, Inc., a for-profit corporation registered in January 2019.
Schiermeyer continues to serve as Gala’s CEO while McCarthy works as Studio Director and Thurston holds the Chief Sales Officer and Chief Blockchain Officer roles.
They work with around 60 employees to launch more games and build the GalaChain to increase network decentralization.
What is the GALA token?
GALA is the ERC-20 and BEP-20 token native to the Gala network. It’s mainly used to buy or sell in-game assets though users can also use it for peer-to-peer payments.
Nodes securing the Gala network are also rewarded GALA tokens which they can use to vote on game governance issues. Some of these issues include reward systems, game titles, and which games should be released next.
Traders can buy or sell GALA tokens on major crypto exchanges like Binance, Coinbase, OKEx, and Uniswap and can store them on MetaMask and Binance Chain Wallet.
Token Metrics:
- Holders Address (updated Oct. 2022): 164K on Ethereum, 55K on BNB Smart Chain
- Active nodes: 16,000
- Circulating supply: 7.54B GALA
- Max supply: 50B GALA