Gala Games aspires to revolutionize the gaming business by giving gamers back control over their games. Gala Games’ objective is to create “blockchain games you’ll want to play,” addressing the problem that players can spend hundreds of dollars buying in-game resources, as well as endless hours playing the game, all of which can be taken away with the click of a button. It intends to bring creative thinking into games by using blockchain technology to give players ownership over the games and in-game assets.
In Gala Games’ Town Star, for example, gamers may own in-game objects like a CraneBot. The CraneBot in Town Star is a non-fungible token (NFT) on the Ethereum network, especially an ERC (Ethereum Request for Comment) token. It runs on the Ethereum network and is unrelated to Gala Games. Furthermore, Gala Games is unable to deduct any NFT from a player’s account.
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Users are often excited about the fact that they can purchase a node in GALA or ether (ETH) and then vote on which games will be published on the Gala Games platform. This is significant, as a user’s ability to participate in governance votes (which could steer the direction of development and gameplay) has an impact on the overall trajectory of the Gala Games ecosystem.
Town Star is a playable game, and VOX is an NFT collectible series by Gala Games. In the future, it wants to produce other games, including a fantasy RPG, a sci-fi strategy game, and a tower defense game. On November 26, new VOX avatars inspired by another Gala game named Mirandus were introduced. Ownership of one of these new avatars entitles players to daily benefits in Town Star.
It said on the 8th of January, 2022 that its second batch of Town Star Node licenses will be available “at some point during the next two weeks,” with customers given 48 hours notice of a two-hour timeframe. This comes after the initial batch sold out in less than five minutes last November.
Gala Games has grown to 1.3 million monthly active users since its introduction in 2019, and 26,000 NFTs have been sold, with the most expensive piece valued at $3 million.
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Who Are the Gala Games Founders?
Eric Schiermeyer is the founder of Gala Games. He was a co-founder of Zynga, a well-known social and mobile gaming developer. Zynga created popular games including Poker, Mafia Wars, and Farmville under Schiermeyer’s leadership. It was founded by Schiermeyer in July 2019 to establish a blockchain-based game network and offer players more control of their games. Schiermeyer has a reputation for working on the bleeding edge of gaming.
On December 13th, 2021, the corporation announced the formation of a new $100 million joint fund with the investment firm C2 Ventures, a new crypto investment business, to fund game creators working on new games and expansions based on blockchain technology. NFTs, play-to-earn games, and other similar games fall under this category.
Technical Analysis of the Gala Pricing
According to CoinMarketCap statistics, the GALA coin value climbed 488% from $0.021 on 12 September to $0.1236 on 18 September, an all-time high.
The coin’s debut on two cryptocurrency exchanges may be to blame for the price increase that began on September 13th. On September 13, it was first listed on Binance, the world’s largest cryptocurrency exchange. The Gala Games coin was also listed on Bibox, an artificial intelligence digital asset trading platform, on September 16.
According to CoinMarketCap, the price was $0.30 on January 17, 2022, putting it in 58th place in the league table of cryptos with a market capitalization of $2.11 billion.
According to CoinCodex’s technical analysis, short-term sentiment on GALA has shifted to negative, with seven indicators exhibiting bullish signs vs 18 bearish indications.
The weekly simple and exponential moving averages, as well as the Relative Strength Index (RSI), which is at 28.21 on January 17, 2022, are all offering buy signals. A reading of 30 or less on the RSI suggests that the market is oversold or undervalued. It has dropped 10%, implying that it has lost more than 60% of its high value in November.
Fundamental Analysis of the Gala Coin
GALA’s inclusion on one of the world’s top cryptocurrency exchanges earlier this year may have boosted the token’s value. Furthermore, the expansion of esports and the incorporation of blockchain technology into the industry may be good news for this cryptocurrency.
According to Study Linker’s Global Gaming Market 2021-2025 report, the gaming industry is expected to increase by $125.65 billion between 2021 and 2025, with a compound annual growth rate of 12%.
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Price Forecast for the Gala Token
Forecasting service based on algorithms according to Wallet Investor, the price will be $1.06 at the start of 2023 and $4 in five years.
The coin is expected to reach $0.424 in 2022, according to Digital Coin Price. GALA is expected to rise to $0.64 by the end of 2025 and finally reach $1.09 in 2028, according to the forecasting firm.
It is important to note that price projections based on algorithms might be incorrect. Forecasts should not be utilized in place of conducting your own research. Before investing, always perform your own research. And never invest or trade money that you cannot afford to lose.
Is Gala Games a Worthy Opportunity to Invest?
Gala Games is riding the tide of play-to-earn games and has picked up on a few key patterns. It aspires to provide a platform that is enjoyable to use, provides users with control, and redefines blockchain gaming.
Gala gamers not only control the trophies and objects they acquire but the platform is also driven by the community. Players have a voice in which games are created and in which directions they are developed. Its founders are well-known players in the gaming and cryptocurrency industries, and the company has already forged some good alliances.
However, it would help if you considered how much farther it may genuinely expand and how much the price has been inflated by speculation.
We don’t know how blockchain gaming will progress in the future years. It’s difficult to say how big the room will be, what shape it’ll take, or which games will be successful because it’s such a new environment. There are several crypto games available. I counted over 30 among the top 500 cryptos by market capitalization, with a slew of lesser games vying for the position further down the list.
