What is GALA crypto?
GALA is the utility cryptocurrency of the decentralized platform Gala Games, which creates blockchain games focused on the community’s needs.
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The holders of the GALA token control the development of the project. They fully own their game items, determine Gala Games’ roadmap, and vote on the games they want to see in the ecosystem.
What is GALA used for? A token is needed to manage the platform, as well as to buy in-game items in the form of NFTs, create them and transfer them across networks. Gala Games team constantly interacts with its community and analyzes their suggestions, as users’ opinions determine each game’s design, plot, and specifics.
GALA cryptocurrency appeared in 2020 with a starting price of $0.001. In 2021, the token passed the $0.1 mark and continued to grow. GALA reached a high of $0.83 in November 2021. The historical low was in September 2020 at $0.00149. Overall, a total of 35 billion GALAs could be issued. There are about 6.9 billion coins in circulation right now.
Here are some ways to get GALA:
The answer to the question “What is GALA?” would be incomplete without describing the concept of Gala nodes. The platform’s functioning is the responsibility of users, who manage Gala nodes from their computers. To become a node of the ecosystem, you need to install special software, which can be found on the project website, and connect to the blockchain. Then the process of mining the cryptocurrency will begin, similar to classic cryptocurrency mining.
Gala cryptocurrency: price forecast
So, what could be the future of GALA? As the technical analysis shows, in 2022, the minimum price could be $0.055 and the maximum $0.061. In 2023, GALA quotes could reach $0.10 – $0.12, and in 2024 could rise to $0.15 – $0.17.
Is GALA crypto a good investment?
There are several factors that make the GALA token seem like a good investment. These include the relative newness of the cryptocurrency, behind which lies the potential for future value growth. In addition, the company’s experience in blockchain gaming and its interest in collaborating with artists, brands, and other projects could be a reason for its success. The use of NFT in crypto games is a long-term trend, and there may be a high demand for this type of asset in the future.
The total number of Gala Games users has already exceeded 1 million, and that number may increase in the future. The project is improving as the ecosystem expands and new games emerge. This gives GALA holders hope for higher prices in the long term.
What is Gala Games?
Gala Games develops blockchain games, creating its own ecosystem in the gaming industry using distributed ledger technology. The platform operates on Ethereum and Binance Smart Chain but is already making its own blockchain. Gala Games users can freely dispose of their NFT items in games by selling them on the secondary market.
The project emerged in 2019 thanks to Eric Schirmeyer and Michael McCarthy. From the very beginning, they aimed to create a platform that would guarantee users ownership of their gaming assets.
In addition, for Gala Games, the principle of decentralization is dominant. Therefore, the founders gave up on the initial offering of tokens and their pre-sale so that the release of GALA would be organic and supported by nodes. The ecosystem was expanded by selling Founder nodes that serve as the core of blockchain games.
Gala is currently working on its blockchain (GalaChain), signing partnerships, and buying existing game studios. The new network will have low fees and better scalability. Switching the entire ecosystem to GalaChain will make the project more influential and could positively affect the utility token’s pricing.
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