Gala [GALA] - gaming cryptocurrency from the creator of Farmville

The GALA token first went up fast at first, but has lost momentum in recent months, as has the cryptocurrency market. But can it beat its heights by taking advantage of the growing trend of gaming cryptocurrencies and NFT? Taking into account the experience of its creators, one can have high hopes for it. Especially since the project is still in the first stage of development.

We are continuing the cycle of the Forex Club portal in which we analyze and describe the largest, highest-valued, most interesting, most developing, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for the Gala - another gaming token, which is to be a gaming broker that also issues NFT for games.

Who created Gala Games

Projects GalaGames is to be a gate to the world play to earn. It was created by Eric Schiermeyer and Michael McCarthy. The latter worked as a creative director at Zynga, a USD 7 billion listed gaming company, and created a game known not only on Facebook Farmville. The first one, in turn, is the manager of CRO Intermix Media, the company behind MySpace. Already in January 2019, they founded their company, which operates under the name Gala Games. 

Farmville game

What is Gala Games

Interestingly, the issue of tokens was not preceded by an ICO, and there were no attempts to obtain external financing. Gala Games conducted the issue thanks to the funds of the founders. 

Today it earns mainly from the sale of NFT for games in blockchain technology. He also has his own game townstar, according to many, almost identical to Farmville and spider tanks. Critics of the project accuse the creators of the fact that most of the games introduced draw ideas from existing projects - the same is true for, among others, with Legacy, Last Expedition or The Walking Dead Empires and Mirandus. NFT, on the other hand, can be purchased at the Gala Games NFT store, and the company boasts that it has already sold over 30 of them. The most expensive was $ 3 million.

How Gala Games works

Ultimately, the Gala will have 50. nodes, which is expected to support up to 100 million active players per month. It works on two blockchains - as ERC20 on Ethereum and BEP20 on Binance Smart Chain. Gala tokens are used to pay for NFT Gala Games. The next natural step is, of course, paying the transaction fees. 

The initial issue of tokens went to the nodes, and half to the Gala Games conservatory, i.e. the group that supports the development of the project. For now, the demand is mainly driven by NFT purchases through Gala Games. The games themselves are only a small part of the company's turnover so far. At the end of the year, however, the premiere of Mirandus is to take place, which may be a milestone in increasing interest in tokens - if, of course, the game turns out to be a success. The information about partnerships with Polygon and Flare Network, which will also result in more games, is also positive. However, there are no details on this topic yet.

Gala cryptocurrency quotes

As of March 18, 2022, each Gala token costs $ 0,21. There are 6 of the target 977 tokens in circulation, which translates into a capitalization of more than USD 205 billion. Gala tokens can currently be traded on 33 cryptocurrency exchanges, including the most popular of them - Binance. The peak of trading took place on November 26, 2021, when each Gala token was paid $ 0,83. This was followed by a huge increase in the price - the tokens then became more expensive than they were issued by as much as 500 times.

GALA / USDT token chart, D1 interval. Source: Binance platform