Coin Healthcheck: Gala Games (GALA)
About
GALA coin is the main utility token of the Gala Games blockchain gaming platform that aims to redefine both the gaming industry and blockchain as a whole.
Gala Games gives players full ownership of their in-game assets, allows NFT holdings, and enables players to contribute to the governance of its ecosystem.
Co-created by a former founder of Zynga (NASDAQ:) in 2019, Gala Games has over 1.8 million monthly active users. Initially built on the network, Gala Games separated its ecosystem from the Ethereum blockchain in 2021.
The blockchain gaming platform also oversees the group of creative technologists, Gala Labs, which is behind collectible NFTs and animated 3D avatars ‘VOX.’
State of the Project
The platform is secured by users who operate Gala Nodes and receive rewards for contributing to the network. The platform currently has over 24,000 active nodes out of a maximum of 50,000 nodes.
The node ecosystem relies on Proof-of-Work (PoS), Proof-of-Stake (PoS) and Proof-of-Storage protocols.
All games are free-to-play and accessible through decentralized applications (dApps).
GALA is the ERC-20 utility token used to pay for digital goods, NFTs, and other in-game items within Gala Games ecosystem. GALA is also used to reward node operators.
The Ethereum-based gaming platform bridged to the Binance Smart Chain in August 2021.
Whitepaper:
No separate document available for the whitepaper.
Product, tokenomics, node operations, and rewards are all explained in the support articles of the official website.
Fundraising:
GALA token was launched in 2020 without an Initial Coin Offering (ICO).
The only way to obtain the token was by running a founders node, or by playing the project’s games.
Development stage:
The Gala Games platform currently offers 5 games to its users: Mirandus, Town Star, Echoes of Empire, Spider Tanks, and Fortified.
Has a bridge with the Binance Smart Chain, and a partnership with…
