Gala Games is a blockchain gaming platform allowing developers to use the protocol's toolkit to create their own games. Each game needs to be approved by the community, which makes it a decentralized process. Moreover, community members who run nodes also get voting rights for decisions that affect the network's future progress. GALA is the name and ticker of the Gala Games' native ERC-20 token.
The Gala Games ecosystem is decentralized and run by Founder's nodes. Two other nodes, Paid and Free nodes will be added to the Gala ecosystem when the Gala side chain goes live. Gala Games relies on three consensus mechanisms to power these nodes: Proof of Work (PoW), Proof of Stake (PoS) and Proof of Storage.
The Founder's node runs the PoW mechanism and receives rewards using a lightweight protocol. The paid nodes will operate on the PoS consensus protocol and provide support to games launched on the Gala ecosystem. On the other hand, the free nodes will run a storage mechanism, eliminating the need for centralized hosting and increasing the decentralization of the Gala network.
GALA is the in-game currency that runs the entire gaming platform. Players can buy and trade NFTs from the Gala store using GALA. Tokens are also used to incentivize node operators and help with network governance.
GALA has a total supply of approximately 50 billion. GALA tokens cannot be purchased directly from GALA Games, and there was no Initial Coin Offering for GALA tokens. Instead, GALA tokens are distributed daily to Founder's Nodes and users who refer people to purchase these nodes.
The distribution cycle of GALA tokens starts in July. 21 of a year and ends in July. 20 of the following year. After each distribution cycle, the supply of GALA tokens halves, making the token deflationary.
Over 17 million GALA tokens are distributed daily in the current distribution cycle. Half of this supply is given to Founder's Nodes, while the remaining 50% is allocated to Gala Games Conservatorship.
Due to GALA's halving schedule, the daily distribution of GALA tokens is reduced to over 8.5 million tokens from July 21, 2022.
GALA charts depend on the number of active players on their platform and the quality of new games launched using their toolkit. Gala has massive adoption with a monthly active user base of 1.3 million players, which drives the GALA price.
Gala Games was founded by Eric Schiermeyer, Wright Thurston, and Michael McCarthy.
Before creating Gala Games, Schiermeyer co-founded Zynga, a leading social game development company that created popular games such as FarmVille, Zynga Poker, and Word with Friends.
McCarthy, the second co-founder, previously worked as the creative director at Zynga and is credited for creating the popular game FarmVille. Thurston is the chief blockchain officer at Gala Games. He has several patents on blockchain technology.
Gala Games has not raised any funding till now. However, they have partnered with Brave, Mazer Gaming, Bitrue, Flare, and Polygon.
Gala Games is a gaming ecosystem of NFT-based games powered by the protocol's toolkit. The games have a play-to-earn model to incentivize players with in-game tokens as rewards.
Gala Games has a distributed voting mechanism. The Founder's node owners can vote on which games should be added to the Gala ecosystem. Gala also has an in-built NFT marketplace for players to trade their NFTs for GALA tokens or other cryptocurrencies.
GALA is the name and ticker of the native ERC-20 token of the platform.
Gala Games works on a hybrid consensus mechanism that uses a three-tier node system. The consensus mechanisms include Proof-of-Work, Proof-of-Stake and Proof-of-Storage.
Top tier nodes are called Founder's Nodes, and there can only be 50,000. These nodes use the POW mechanism and receive full ownership of in-game NFTs.
Paid and Free nodes will be added to the ecosystem once the Gala side chain goes live. Paid nodes will operate on Proof-of-Stake mechanisms and provide infrastructure for specific games on the Gala network. Free nodes support Founder's and Paid nodes and work on PoS protocol.
You can buy GALA from OKX exchange. OKX offers the GALA/USDT and GALA/USDC trading pair. Alternatively, you can buy GALA directly with fiat or convert your crypto to GALA.
Before you begin trading with OKX, you need to create an account. To buy GALA with your preferred fiat, click "Buy with card" under "Buy Crypto" on the top navigation bar. To trade GALA/USDT or GALA/USDC, click "Basic Trading" under "Trade." Under the same tab, click "Convert" to convert crypto to GALA.