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If you’ve ever heard of Gala Games you probably know that it is a platform tasked with creating a variety of blockchain-based games. Each of these games offers players true ownership of their game elements through the use of non-fungible tokens or NFTs. In this article we will tell you all about what it is and how it works.
This platform stands out from the rest of the competitors, as it prioritizes the quality of the games unlike others that only focus on launching the MVP type games that we commonly see in the “play to earn” gaming industry. Gala Games is an ecosystem of controlled games, where each game has something different to attract the audience.
History of Gala Games
This platform was launched in 2020 and was one of the first in the play-to-earn niche. It stood out for the novelty at the time of rewarding players with tokens (in this case GALA) for playing a variety of games on the platform.
The platform’s development team consisted of a total of 60 developers and currently has more than 1.3 million active users. The CEO of the project is Eric Schiermeyer. Eric is also well known for being one of the co-founders of Zynga, a very popular social game developer.
The network managed to launch in July 2019. Its main goal was to develop a gaming network based on blockchain technology that would offer its users greater power and ownership in games.
How does Gala Games work?
The main objective of Gala Games is to guide the gaming industry in a very different direction from the one we know. Therefore, it employs blockchain technology as the main tool to change the way the industry works.
The Gala network is based on the Ethereum blockchain and features the ERC-20 standard. To get an idea, Gala Games’ operation is comparable to that of GOG, since just like them or the Steam store, Gala offers a certain variety of games to users for them to choose some and play.
However, Gala Games and these stores are not the same. Unlike the others, Gala has a great attraction and that is that all games are free and we can access them through a dApp or Decentralized Application.
Play-to-earn games and blockchain-powered games with user-owned assets are an idea that has been around for a long time, nothing new. However, Gala Games has some features that make it stand out from all the platforms in this industry.
Although we have previously mentioned that Gala Games is based on the Ethereum blockchain, recently the platform took advantage of the p.Network Bridge DApp in order to join the GALA token to the Binance Smart Chain as a BEP-20 asset. This brings a new advantage and that is to allow users to significantly reduce transaction fees when using or managing GALA tokens.
Another feature of the Gala Games platform is the multiplicity of games that offer players experiences powered by blockchain technology. This platform has about half a dozen games that are in development list where role-playing games, space exploration, defense, and so on are included.
One thing that stands out in Gala Games is the addition of an online store. Gala Games makes it easy for players to buy and sell in-game items thanks to its integrated marketplace. This marketplace allows players to easily obtain the liquidity needed to loot their game or purchase new items as well as characters to enhance both their gaming experience and performance.
In addition, Gala Games is community-driven. Its network relies on community-owned nodes to power the platform. In addition, the development team and operational staff constantly engage with the community to determine which games and features are most accepted by the community.
What is GALA? The native token of the project
Like most projects, Gala Games has its own native utility token called GALA. This token is used as the main digital asset in the Gala Games ecosystem for the purpose of purchasing items, peer-to-peer payments, and rewarding nodes among other activities.
Players can also use the token to contribute to the Gala Games network by running a Gala Node. To run a Gala Node the first thing the user must do is purchase a license. Once you have the license you can run the node software from the comfort of your computer and you can earn rewards in the form of “rare” GALA and NFT tokens. Running a Gala Node requires a notable investment, with the license coming in at approximately $13,000. Payment can be made in Ethereum (ETH), GALA or Basic Attention Token (BAT). It should be noted that the total number of nodes that can be run is limited to 50,000.
The GALA token has a fixed maximum supply of 50 billion tokens. According to the project developers, a total of 17,123,286 GALA tokens are distributed daily. Half of this distribution goes to the operators of the founding node. On the other hand, the other half goes to the Gala Games conservatory.
As in the case of Bitcoin and other cryptocurrencies, Gala Games has included in its operation a halving cycle in its issuance program. With halving, the issuance is halved every year, specifically on July 21 of each year. Therefore the next halving will be on July 21, 2022 by dividing the issuance rate to 8,561,643 GALA per day.