Gala

What is the Token?

• GALA is an ERC-20 utility token that operates within the Gala Games ecosystem, a platform based on Ethereum for gaming.

• It facilitates exchanges among participants and can be employed for purchases within games, including the acquisition of non-fungible tokens (NFTs).

Tokenomics

• GALA emerged from a fair launch, eschewing any pre-mint or initial token allocations. The token is obtained through the operation of nodes, with all GALA designated for Founder’s Nodes.

• Initially, the distribution of GALA tokens was divided evenly between Founder’s Node Operators and the Gala Games Conservatorship.

• The total supply of GALA is capped at approximately 50 billion, featuring a distribution schedule that reduces by half annually on the 21st of July.

Market Data

As of today 27 July 2024, the price of Gala is ₹2.18 INR, with a 24-hour trading volume of 52168850.84 USD. The market capitalization for Gala is 776250866.55USD. The circulating supply is 32985744705.9 Gala, with the total supply also being 35009904841.92 Gala.

Token Pros and Cons

Pros:

• GALA is integral to a burgeoning ecosystem of blockchain-based gaming.

• It enables player ownership of in-game assets through NFTs.

• The token benefits from a fair launch and an explicit halving schedule.

Cons:

• The gaming industry is notably competitive and driven by trends.

• Concerns have been raised regarding the transparency of GALA’s tokenomics.

Why Should You Invest in the Coin?

• Investing in GALA presents an avenue to engage with the expanding blockchain gaming sector. The emphasis on player ownership and the development of diverse games may bolster the token’s demand.

USP of the Coin

• GALA distinguishes itself by facilitating a decentralised gaming ecosystem that grants players control over their in-game assets and influence over the development of the platform’s games.

Problem the Coin is Solving

• GALA targets the challenge of centralised control within gaming, where players risk losing in-game items if banned. It strives to foster an environment where gamers maintain complete ownership of their in-game assets.

Founder and Team Background

• Gala Games was established by Eric Schiermeyer, a Zynga co-founder; Wright Thurston, an early adopter of cryptocurrency mining; and Michael McCarthy, the creative mind behind Farmville 2.

ICO Price

• The ICO price details of GALA were not provided.

Risks Associated in Investing in the Coin

• Risks involve the cryptocurrency market’s inherent volatility, the dynamic and competitive nature of the gaming sector, and potential regulatory shifts. The highlighted concerns about tokenomics transparency should also be considered by potential investors.

Whitepaper Insights

The whitepaper would likely detail the technical and economic aspects of the GALA token within the Gala Games ecosystem, the governance structure, node operation, game development, and the overall vision of creating a player-owned gaming platform.

In summary, GALA is a utility token for the Gala Games platform, with a total supply of 50 billion and a halving schedule for its distribution. The market data shows a moderate market cap and trading volume. The token offers the potential for investment in the blockchain gaming industry, with the unique aspect of empowering players with ownership of in-game assets. The founding team has a strong background in gaming and cryptocurrency. However, potential investors should be aware of the risks associated with the volatility of the crypto market and the competitive nature of the gaming industry.