This guide delves into Gala’s evolution, highlighting its breakthroughs in blockchain technology, its challenges and triumphs in gaining global financial recognition, and its promising future in reshaping finance and technology.
Introduction
Gala (GALA) is a cryptocurrency designed to revolutionize the gaming industry by providing a decentralized platform for virtual worlds, games, and digital assets. It aims to empower developers and gamers alike by offering a transparent, secure, and interoperable ecosystem for creating, owning, and trading in-game items and experiences. With Gala, players can truly own their digital assets, transcending traditional gaming boundaries and unlocking new opportunities for creativity and economic empowerment.
Table of Contents
History and development: Who created Gala and how has it evolved?
Who are the founders of Gala?
Gala Games, the company behind this cryptocurrency, was founded by Eric Schiermeyer, Michael McCarthy, and Jason Brink. The vision behind these Games emerged from their collective experience in the gaming industry, with a goal to revolutionize gaming through blockchain technology and decentralized ownership. They aimed to empower players by providing true ownership of in-game assets and fostering player-driven economies within their games. This vision reflects a desire to create a more equitable and player-centric gaming ecosystem, where players have control over their digital assets and can participate in shaping the future of gaming.
This game was founded by Eric Schiermeyer, one of the co-founders of Zynga, a well-known social gaming company. Schiermeyer’s experience in the gaming industry combined with his passion for blockchain technology led to the inception of these Games.
The platform officially launched in 2019 and quickly gained popularity among gamers and blockchain enthusiasts.
Since its launch, this game has grown exponentially, with an ever-expanding roster of games and a vibrant community of players. The ecosystem has attracted talented developers and game creators, further enriching the gaming experience offered by the platform.
As of July 2023, the project has 90+ team members, 1.3 million monthly active users, and has sold more than 26,000 NFTs with the highest priced NFT selling for $3 million.
How Does Gala Work?
Gala Games is similar to the Steam and Epic Games platforms, where you can choose from several available games. The difference is that every game on Gala is free and accessed like a decentralized application (DApp). The ecosystem is built on the Ethereum network and the GALA token uses the ERC-20 format. However, the density of the Ethereum network has an impact on the high cost of gas.
Since early 2021, Gala Games is working with several other blockchains to avoid expensive Ethereum transaction fees. Currently, GALA tokens are also available on Polygon and BNB Chain. All users can now take advantage of low and fast transaction fees using both blockchains.
In a blog post, it announced the launch of “Project Gyri” or Gala Chain, Gala’s standalone blockchain.
Exploring the GALA Token
This token plays a central role in the Gala Games ecosystem. As an ERC-20 token, it serves multiple purposes that enrich the gaming experience for players.
Firstly, it is used for governance within the platform, giving players a say in important decisions and developments. Players can propose and vote on changes to the ecosystem, ensuring a community-driven approach to development.
Secondly, its facilitates in-game transactions. Players can use it to buy, sell, and trade in-game assets and items on the Gala Games marketplace.
This token can be obtained through various cryptocurrency exchanges. One such platform is Komodo Wallet, a wallet, bridge, and decentralized exchange (DEX) rolled into one app. Komodo Wallet that allows users to both HODL and trade GALA.
How has Gala changed since its inception?
Since its inception, it has evolved significantly, transitioning from a concept of decentralized gaming to a thriving ecosystem within these games. Key developments include the launch of Gala Games as a blockchain gaming platform, the introduction of this token, the expansion of the gaming ecosystem with various blockchain-based games, partnerships and collaborations, and a strong emphasis on community engagement. Overall, it has grown into a dynamic ecosystem focused on innovation, decentralization, and empowering players with true ownership of in-game assets.
Adoption and partnerships
It has garnered significant adoption within the blockchain gaming space, with a growing user base and a diverse range of gaming experiences offered on these games platform. One notable aspect of adoption is the enthusiastic engagement of the gaming community, which has embraced Gala as a means of owning and trading in-game assets.
This game has also formed partnerships and collaborations with various game developers, publishers, and blockchain projects to expand its ecosystem and offer a wider array of gaming experiences. These partnerships aim to leverage Gala as a utility token for in-game purchases, rewards, and governance within these Games ecosystem. Overall, it continues to gain traction as a prominent player in the blockchain gaming industry, with increasing adoption and partnerships contributing to its growth and success.
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Technical Insights: How does It work?
Underlying technology
It operates on its own blockchain, harnessing blockchain technology to revolutionize the gaming industry, offering players true ownership of in-game assets and fostering a decentralized gaming ecosystem. Through blockchain’s immutable ledger, it ensures transparency, security, and provable ownership of digital items, allowing players to transfer their assets seamlessly across various games within this game platform. This approach fundamentally alters the traditional gaming landscape, empowering users to have full control over their gaming experiences and assets.
Powered by a proof-of-stake (PoS) consensus mechanism, it ensures network security and transaction validation while promoting energy efficiency and scalability. Validators stake these tokens to secure the network, facilitating quick and reliable transactions essential for gaming applications. Additionally, it emphasizes decentralized governance, enabling stakeholders to actively participate in decision-making processes regarding game development, community initiatives, and platform enhancements through democratic voting mechanisms. This commitment to community-driven governance fosters engagement and ensures that it evolves in line with the interests and preferences of its users, shaping the future of gaming in a collaborative and inclusive manner.
How are Gala tokens created and distributed?
These tokens were initially distributed through an Initial Coin Offering (ICO), where investors could purchase tokens directly from the these games team. These tokens were then distributed to participants based on their contributions during the ICO phase. Additionally, it tokens can be earned through various activities within the Gala Games ecosystem, such as gameplay, participation in community events, and contributions to the platform’s development.
The total supply of these tokens is capped at a predetermined amount, ensuring scarcity and value preservation over time. As for the distribution mechanism, Gala utilizes a proof-of-stake (PoS) consensus algorithm, which involves token holders staking their GALA tokens to secure the network and validate transactions. In return for their participation in the network, validators receive rewards in the form of newly minted Gala tokens. This process incentivizes stakeholders to actively engage in securing the network while also contributing to its decentralization and overall health.
Use Cases and Applications: What can Gala be used for?
What are the main use cases of Gala?
It has several primary use cases within the Gala Games ecosystem and beyond. Firstly, these tokens serve as a medium of exchange within this game platform, allowing users to purchase in-game assets, pay for services, and participate in various gaming activities. Additionally, GALA tokens enable governance participation, empowering holders to vote on platform decisions, proposals, and upgrades, fostering a decentralized ecosystem where community voices are heard and valued.
Moreover, this token can be staked to secure the network, earning rewards in the form of additional tokens, thereby incentivizing token holders to actively participate in maintaining the platform’s integrity and security. Additionally, thsi game plans to expand its utility beyond gaming, exploring applications in decentralized finance (DeFi), non-fungible tokens (NFTs), and other sectors, positioning GALA as a versatile digital asset with widespread utility and potential.
Gala Games Ecosystem
You can play all the games on Gala by accessing them on the website and creating an account.
Town Star
Town Star is the first game launched in this ecosystem. It was created directly by the Gala Games development team and is currently in the beta stage. In addition, Town Star successfully won The best blockchain game award at AIBC Award 2022. Town Star puts you in charge of a small town that needs to produce and manufacture goods, then sells them to earn money and keep growing. You can produce many items ranging from milk, oil, and other agricultural products such as eggs. The goal of Town Star is to continuously produce goods and enlarge your city.
💡 Play-to-Earn (P2E) is a concept in blockchain gaming where players can earn crypto assets through playing the game. P2E schemes usually require players to buy NFT and other items.
You can play Town Star for free without spending a penny, you only need to create an account on the Gala Games website. At the end of September 2021, Town Star introduced the concept of P2E (play to earn) through TOWN tokens and various other NFT items.
Players can compete in leaderboards for town points which will determine how many TOWN tokens they get. Players can also buy various NFTs in the form of in-game items that can help players produce goods.
However, on July 17, 2022, the TOWN token reward scheme is temporarily suspended as this game is evaluating the economic side of Town Stars P2E. Gala Games also increased the number of Town Star development teams to further develop the game.
Real-world adoption of Gala
It has gained traction in the gaming industry, with several real-world adoption examples and promising future prospects. One notable example is within the Gala Games ecosystem itself, where these tokens are extensively used for in-game purchases, powering economies within various games developed by the Gala Games team and community. Additionally, Gala Games has formed partnerships with game developers and studios, integrating these tokens into their gaming platforms, and expanding the token’s reach and utility across a broader gaming audience.
Looking ahead, Gala holds potential for further real-world adoption beyond gaming. As blockchain technology continues to evolve and gain mainstream acceptance, its use cases could extend into various sectors such as decentralized finance (DeFi), digital collectibles, and virtual real estate. Furthermore, this Games’ ambitious vision to create a decentralized gaming metaverse suggests GALA’s potential as a foundational token for virtual economies, enabling diverse interactions and transactions within an immersive digital environment. As blockchain adoption grows and Gala Games continues to innovate, it could become increasingly integrated into various real-world applications, cementing its position as a prominent digital asset with widespread adoption.
Regulatory Considerations for Gala
Crypto asset statement
What future developments are planned for Gala?
It is poised for significant advancements and expansions in its ecosystem. The Gala Games platform aims to continuously release new games, fostering engagement and utilization of these tokens. Collaborations with game developers and studios will enhance the diversity of gaming experiences and further integrate this into the gaming economy. Technological enhancements are also on the horizon, focusing on improving the scalability, security, and efficiency of the Gala Games blockchain infrastructure. These upgrades will ensure that the platform can accommodate increasing user activity and maintain a seamless gaming environment.
Furthermore, it is exploring interoperability with other blockchain platforms, potentially expanding its utility beyond its native ecosystem. The platform’s commitment to community-driven development and decentralization aligns with broader industry trends, making it well-positioned to drive innovation in decentralized gaming and virtual economies. As blockchain technology gains mainstream acceptance and the demand for immersive gaming experiences grows, it is likely to play a pivotal role in shaping the future of decentralized gaming and blockchain-based economies.
Recap: Gala core advantages
It stands out as a noteworthy cryptocurrency due to its integration within this game platform, which offers a diverse array of blockchain-based games and virtual experiences. The Gala Games ecosystem leverages these tokens as a primary utility within games, enabling players to purchase in-game assets, participate in virtual economies, and engage in decentralized gaming activities. This integration fosters a seamless and immersive gaming experience while providing players with true ownership of digital assets secured on the blockchain. Furthermore, it benefits from a strong community-driven development model, where users actively contribute to the growth and evolution of the platform, ensuring its relevance and sustainability in the rapidly expanding blockchain gaming industry.
What Makes Gala Games Unique?
This Games stands out in the gaming industry for several reasons.
Firstly, its commitment to true ownership revolutionizes the way players interact with in-game assets. This concept of player-owned economies paves the way for a more immersive and rewarding gaming experience.
Secondly, the integration of blockchain technology ensures transparency, security, and decentralization, granting players more control over their gaming journey.
Thirdly, the project makes it easy for anyone to become a Gala Game node operator. Users who run nodes can receive items and this token in their treasure chests, which can then be minted.
The Future of Gala: Roadmap and Development
Looking ahead, this Game has an ambitious roadmap with exciting developments planned for the ecosystem. This includes the launch of several upcoming games for desktop and mobile users. Genres for these games will include RPG, survival, strategy, tabletop, and more.
The platform aims to expand its range of games, catering to various gaming preferences while continuously enhancing the gaming experience.
Furthermore, this Game is committed to improving the user interface and overall accessibility of the platform, ensuring that even non-blockchain enthusiasts can easily navigate and benefit from the ecosystem.
Conclusion
Gala represents a transformative force in the cryptocurrency landscape, particularly within the gaming industry. Its emergence as a decentralized platform for virtual worlds and games marks a significant shift towards player empowerment and true digital ownership. By enabling gamers and developers to create, own, and trade in-game assets on a secure and interoperable ecosystem, it is redefining the boundaries of traditional gaming. It stands as a testament to the potential of blockchain technology in creating more equitable and player-centric gaming experiences, where creativity and economic empowerment go hand in hand.
The future of Gala is brimming with promise, as it continues to evolve and expand its ecosystem. With plans to release new games, enhance technological infrastructure, and explore interoperability with other blockchain platforms, it is poised to drive innovation in decentralized gaming and virtual economies. As it gains mainstream acceptance and its use cases extend into various sectors, it invites everyone to explore its platform, engage with its community, and contribute to the exciting developments ahead By investing in Gala, individuals have the opportunity to be part of a pioneering movement that is shaping the future of digital interactions and finance.
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