Coin Healthcheck: Gala Video games (GALA)
About
GALA coin is the principle utility token of the Gala Video games blockchain gaming platform that goals to redefine each the gaming business and blockchain as a complete.
Gala Video games provides gamers full possession of their in-game property, permits NFT holdings, and permits gamers to contribute to the governance of its ecosystem.
Co-created by a former founding father of Zynga (NASDAQ:) in 2019, Gala Video games has over 1.8 million month-to-month lively customers. Initially constructed on the community, Gala Video games separated its ecosystem from the Ethereum blockchain in 2021.
The blockchain gaming platform additionally oversees the group of inventive technologists, Gala Labs, which is behind collectible NFTs and animated 3D avatars ‘VOX.’
State of the Undertaking
The platform is secured by customers who function Gala Nodes and obtain rewards for contributing to the community. The platform at present has over 24,000 lively nodes out of a most of fifty,000 nodes.
The node ecosystem depends on Proof-of-Work (PoS), Proof-of-Stake (PoS) and Proof-of-Storage protocols.
All video games are free-to-play and accessible via decentralized functions (dApps).
GALA is the ERC-20 utility token used to pay for digital items, NFTs, and different in-game gadgets inside Gala Video games ecosystem. GALA can also be used to reward node operators.
The Ethereum-based gaming platform bridged to the Binance Sensible Chain in August 2021.
Whitepaper:
No separate doc out there for the whitepaper.
Product, tokenomics, node operations, and rewards are all defined within the help articles of the official web site.
Fundraising:
GALA token was launched in 2020 with out an Preliminary Coin Providing (ICO).
The one solution to receive the token was by working a founders node, or by taking part in the challenge’s video games.
Improvement stage:
The Gala Video games platform at present provides 5 video games to its customers: Mirandus, City Star, Echoes of Empire, Spider Tanks, and Fortified.
Has a bridge with the Binance Sensible Chain, and a partnership with the Polygon blockchain.
In its remaining preparations to launch the Sport Node license Gala Video games will give customers duty for City Star’s progress, and the power to earn rewards for doing so.
Roadmap:
Open presale for 2 new video games within the Gala Video games ecosystem (December ninth).
Platform safety upgrades to be carried out by January third, 2022.
Crew
Based by Eric Schiermeyer, the co-founder of Zynga cellular video games, Wright Thurston, who holds a number of patents on blockchain expertise and was one of many first main crypto miners, and Michael McCarthy, beforehand inventive director for FarmVille 2.
Gala Video games has a staff of 89 workers on the time of publishing.
Partnerships:
Partnership with 888 The New World, a digital artwork market.
Invested into Idea Artwork Home, a widely known gaming artwork manufacturing firm which has contributed to over 1000 fashionable video games together with Name of Responsibility Cellular, Fortnite, League of Legends, ROBLOX, PUBG and extra.
Group:
Social media accounts: Twitter (NYSE:) (179.5K), Discord (106.7K) Fb (NASDAQ:) (34K), Youtube (13.3K).
Has loyal and lively Gala Video games supporter communities.
Huge crypto influencers, equivalent to Ryan Selkis, David Gokhstein, WendyO, are among the many initiatives followers.
Key metrics:
Max provide: 50 billion
Circulating provide: 6.98 billion
Market Cap: $3.3 billion
Token distribution & allocation:
17,123,286 GALA is distributed day by day. 50% of this goes to node operators, whereas the opposite 50% goes into the event of the Gala Video games ecosystem.
Gala Video games halves the distribution quantity each July.
There are over 62K holders on the Ethereum community, and 28K wallets on the Binance Sensible Chain.
91% of pockets addresses maintain greater than 1% of the circulating provide.
Change listings:
Listed on 65 cryptocurrency exchanges (full record out there right here), together with Binance, Coinbase (NASDAQ:), KuCoin, Huobi and Crypto.com.
Wallets:
GALA is appropriate with MetaMask, Belief Pockets, Binance Chain Pockets.
Value motion:
All-time excessive (ATH): $0.821 (November 2021)
All-time low (ATL): $0.0001347 (December 2020)
GALA sits at slightly below 40% beneath its ATH on the time of publishing.
Verdict:
- The Gala Video games challenge has strong fundamentals. Extending the ecosystems of its video games and rising their consumer bases, whereas additionally rising its skilled staff and forming strong partnerships are all on observe to giving Gala Video games the perfect probability to reach the long term.
- The gaming business itself is anticipated to develop by roughly 12% by 2024. Naturally this might additionally play into GALA coin’s future worth progress.
- Robust competitors within the subject of blockchain-based play-to-earn video games, and excessive gasoline charges, signify the largest roadblocks to Gala Video games’ future progress. Nevertheless, Gala Video games’ bridge with the Binance Sensible Chain, and its partnership with Polygon, have expanded its ecosystem outdoors of Ethereum, basically eliminating the dangers offered by excessive community charges.
- GALA is a mid-market cap cryptocurrency with a restricted max provide, and is listed on the biggest cryptocurrency exchanges. It’s at present in the course of a progress curve and has room to rise additional. Nevertheless, the circulating provide of the GALA token is low, which means that such worth progress might take time.
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