Although blockchain gaming is already a popular industry within the cryptocurrency sector, it is still early days for the play-to–earn gaming segment.
Gala, which is both a NFT and game platform, seeks to establish a blockchain-focused ecosystem. The goal of Gala is to create blockchain games users love to play, and to own the prizes they win in each game.
GALA is the function token for the platform. You can use it to pay network node operators and participate in network governance.
Gala Games is a company that has been around for more than two years. The blockchain-based gaming boom has had a significant impact on the GALA utility token price. GALA’s price skyrocketed by 900% in late 2021, and it entered the top 50 cryptos by market cap after gaining 400% in November.
For a deep dive on the Gala Games tokens and how you can buy GALA, read this article.
What is Gala Games (GALA), you ask?
Gala Games hopes to transform the gaming industry by giving gamers control of their own games. Gala Games’ primary goal is to provide blockchain games that are enjoyable and people enjoy playing. Gala Games also aims to innovate gaming through the use of blockchain technology that allows players to own and control in-game assets.
Players can influence the Gala Games management through non-fungible tokens. The Founder’s Nodes ballot strategy permits gamers to determine which games Gala should create and support.
Gala Games uses GALA to its utility token. GALA was built using the Ethernet Square blockchain. It is compliant with ERC-20 standards. GALA token is a non-refundable utility token and can be exchanged between Gala Games participants. Gala Games published Town Star (a playable game) and VOX, an NFT series. The company plans to continue producing other games, such as a fantasy RPG and science fiction strategy game.
Gala Games now has 1.3 million active monthly users, and more than 26,000 NFTs have sold since it was founded in 2019. The most valuable piece is estimated to be $3 million.
Gala Game is Unique
Gala Games is more than a game. It’s a group of play-to-earn blockchain games. Players are rewarded for their time and efforts. Town Star is Gala’s flagship game with over 600 million players. It’s a play-to-earn game where users develop a town to farm competitively. Gala revealed that Town Star nodes licenses could be purchased by players to get additional rewards.
Gala Games’ VOX is a collection of collectible NFT avatars where each VOX is distinct, and some VOXs are rarer than others. Holders will be able to earn VOX coins by playing with their VOX avatars. VOX users also have access to their FBX files that will enable them to animate, 3D print and create their avatars.
Community feedback matters to Gala Games, which always engages with its Discord community, allowing users to influence the game’s direction and design.
Gala nodes are available for users, which support the Gala network. Users receive GALA, NFTs limited in edition, and other benefits. Three types of Gala Node nodes are included in the Gala Node ecosystem: Proof-of-Work, Proof-of-Stake and Proof-of-Storage. Known as Founder Nodes (PoW), PoW nodes are tier-1 and have 50,000 full-claimed NFTs. The network’s initial sponsors gain NFTs from every resulting game and GALA assigned to their node license. PoS nodes are paid nodes that run specific games via the smart contract “rental” framework. The Proof-of-Storage Nodes, which are completely free and facilitate nodes on the ecosystem’s node ecosystem. They eliminate the need to store centralized solutions such as Amazon S3.
GALA: History
In September 2020, Gala Games introduced the GALA token without an ICO (Initial Coin Offering), and you couldn’t gain the token from Gala Games directly. Instead, the token could only be obtained by hosting a Founder’s node, referring users to purchase a Founder’s node and play games on the Gala Games or any other platform.
It has a total supply of 5,542,496,572 tokens, and an circulating supply limit of 50,000,000 tokens. Daily, around 0200 UTC 17,123,286 GALA coins are added to the circulation.
How secure is the Gala Games Network?
GALA token was built using the Ethereum (BSC), and Binance Smartchain (ETH) blockchains. The network is protected by its own set of nodes known as the Founder’s nodes. Gala Games has allowed up to 50,000 Founder Nodes to validate in-game transactions, and to protect the network.
Voting is also possible for nodes on Gala Games. Register an account to install the node. GALA is a points-based compensation system for node operators. Referring nodes that run for less than six hours per cycle earns you 0.1 point.
Gala Games (GALA), Where You Can Buy
GALA can be purchased on a variety of centralized and decentralized exchanges. You can find the list of exchanges here: https://support.gala.games/en_US/gala/where-can-i-get-gala.
GALA became accessible for the first time on September 16, 2020. It has a total supply of 35,240,112,493 and a market capitalization of $2,315,887,457.
GALA can trade on many cryptocurrency exchanges. However, it is not possible to buy directly with fiat money as other popular cryptocurrencies. You can buy GALA by purchasing bitcoins or other major cryptos first.
You will first need to acquire bitcoin, tether or ethereum in order to buy GALA from Binance. Binance provides currency pairs at multiple values, depending on their current market price. BTC/GALA and ETH/GALA are the Bitcoin currency pairs. GALA/USDT is for tether. Buy using an already established market price.
Let’s look into major exchanges where you can buy Gala Games (GALA) cryptocurrency using a credit card, debit card, or Bitcoin (BTC).
1. Gate.io
Gate.io, founded in 2013, is an established trading platform. It offers traders of all levels, from beginners to advanced traders. It’s often among the first exchanges to add new tokens.
Gala Games (GALA), is an altcoin which the exchange supports. This exchange is notable for its incredible range of trading pairs, which includes USDT (Tether), as well as the exceptional liquidity.
2. Binance
Binance has the highest daily volume of cryptocurrency trading. Gala Games (GALA), can be bought here with low exchange fees, and great liquidity.
3. BitYard
BitYard supports over 100 cryptocurrency, including Gala Games. The exchange was founded in Singapore in 2019, and is now available to traders from over 150 countries including Australia, Canada and Singapore.
The exchange is regulated and licensed in several jurisdictions, including Singapore’s ACRA (Accounting and Corporate Regulatory Authority) and the MSB (Money Services Business) license issued by FinCEN in the United States.
BitYard’s fees are very reasonable compared to those of other crypto exchanges.
GALA Crypto: How do I Buy It?
Are you interested in investing in GALA You can buy GALA with your fiat currency on Coinbase. Also, you will be able to store and secure your GALA tokens. The platform’s user-friendly architecture makes Coinbase ideal for crypto trading beginners.
Step 1. Create an account online
If you don’t already have an account on Coinbase, you need to set up one.
For 2-step verification, your phone number will be used. It’s also highly recommended to set up 2-step verification using Google authenticator for added security. You can now connect to Coinbase and deposit fiat currencies, such as euros or dollars, into your Coinbase bank account. To initiate wire transfers, you can either use your debit card or bank account.
Step #2: Buy or download a wallet
GALA should be kept in your wallet to ensure long-term storage.
Although some crypto exchanges provide their own wallets, there have been numerous hacking attacks in recent years and funds lost. This makes a hardware or software wallet an attractive option. Although some of these risks are mitigated by Coinbase’s outstanding security measures, others remain.
Many software wallets are available for download from Google Play or the App Store. You can use the CoinStats Wallet to manage your crypto assets. It allows you trade, buy, exchange, track and even earn.
Although software wallets offer robust protection, they’re still vulnerable because they store information online. A cold wallet is also called a hardware wallet. This will give you a better alternative. The possibility of hackers avoiding your private keys is eliminated by the hardware wallet.
Step 3: Place an order
Once you’ve created an account and set up a cryptocurrency wallet, GALA can be purchased. Log into Coinbase and click the blue Buy/Sell button at the top right of your screen.
The Buy-Sell Convert window will open. Scroll down to GALA in the Buy section or enter GALA into your search box. You can click GALA to enter the amount in your currency. This will convert it into a Gala sum automatically.
You can make this purchase a recurring one by entering your payment information. To view details about your purchase and the transaction fee, click Preview Buy. Simply click on “Buy Now” if you are satisfied with what you see. The GALA will then be automatically added to the account.
GALA Supporting Crypto-Wallets
MataMask
- An open source software project with an active development community.
- Help users back up their accounts with hierarchical, deterministic settings
- Coinbase and ShapeShift integrated exchanges make it simple to exchange ETH.
- Intuitive user interface
- Customer support that is reliable
Ledger Wallet
- The most secure Bitcoin wallet
- It is easy to use and simple
- Portable and easy to transport (like a stick of USB).
- Gala is one of the many cryptocurrencies that stores carry.
- High-tech security features
- Minimalistic design
MyEtherWallet
- Use it free of charge
- Token swapping
- It is compatible with Changelly, the Bitcoin exchange
- All ERC20 tokens supported
- Your security measures are as safe as you make them.
- All Ethereum tokens are stored, even Gala
BRD Wallet
- Use it free of charge
- Mobile app for biometric integration that is open-source and secure
- Available for both Android and iOS
- It’s easy to use
- Transactions in Bitcoin with speed and low latency
- Stores offer a variety of cryptocurrencies like Bitcoin, Ethereum and Gala
Trust Your Wallet
- It is simple to use
- Unrestricted and anonym
- Digital assets can be staked
- The users have full control of their keys
- Available for both Android and iOS
- Many cryptocurrencies are available for purchase in stores, including Bitcoin, Ethereum and Gala
GALA: The Reasons You Need to Buy It
Gala Games has capitalized on some important trends and is currently riding the wave of play-to earn. The company aims to create a fun platform that gives players control and reinvents blockchain gaming.
The amount of active Gala users is a clear sign that customers like the company’s offerings. But, there is fierce competition in this market, and existing gaming studios might quickly catch up to incorporate blockchain-based games into their products.
Gala is expected to grow with the game industry. Before entering the market, investors should carefully evaluate current and anticipated competition from leading studios.
Transform, trade, and sell your GALA
Many options exist for you to decide whether you want to sell your investment. Your GALA can be exchanged for dollars, euros, or stablecoins such as USDC and USDT.
GALA can be exchanged for other cryptocurrency. You’ll notice a conversion tab when you open the Buy-Sell window on Coinbase. Just click the Convert To Box and then choose from the drop-down the currency you would like to convert GALA.
GALA: Is it a Good Investment?
Gala Games GALA tokens launched in 2020. However, they make up a significant part of the play to earn crypto ecosystem. GALA is a great long-term investment when used in conjunction with dollar cost averaging.
Conclusion
Gala, a platform for gaming and NFT that aims to create a Blockchain Gaming ecosystem using Ethereum and BSC. Gala Games, an NFT gaming platform and Gala Store are part of the platform. Participants can take part in the network governance and consensus while playing games or exchanging NFTs.
GALA can come in different ways. Your research should guide you as to which method is best for you. GALA can be purchased by you based on your goals and skills, the payment method, wallet type, accounts and other factors.
The information and content contained in this content are provided for informational purposes only. It does not represent a recommendation to purchase, sell or hold any security or financial product or instrument.