We are continuing the #MetaverseWeek and today we want to introduce you to another big project that represents this trend. Gala is without a doubt one of the most interesting projects of 2021, in which it achieved its heights generating profits of 71,000%, and gathered a large community of virtual reality fans around the world.
History of GALA
Gala Games was founded in 2019 by Eric Schiermeyer and Michael McCarthy with the goal of developing a gaming ecosystem that gives its users full ownership and control of their in-game assets. Eric Schiermeyer was previously CRO of Intermix Media, the company behind MySpace, and co-founder of Zynga, a seven billion dollar company founded in 2007 with the goal of “connecting the world through games.”
Since its creation, Gala Games has made decentralization a top priority, leading the team to opt against any type of early distribution, such as an initial coin offering or pre-sale, in order to allow for an organic release of tokens through their network of nodes. To achieve this, the first action was to grow the gaming network by selling Founder’s Nodes, which form the core of the Gala Games ecosystem. These Nodes are rewarded with Gala Tokens, NFTs and governance power.
Currently, Gala is focused on developing its own blockchain, GalaChain, as well as acquiring partnerships and successful gaming studios. GalaChain will drastically reduce network fees and allow for greater scalability not possible on Ethereum. Project has made great strides in building relationships with companies like Frank Miller, Under Armour, and AMC’s The Walking Dead, with many more in the pipeline. Gala Games wants to change the free-to-play model known from Fortnite, where players essentially rent in-game items from the developer.
GALA, four main principles
Each project has its goals and missions. Gala’s creators went one step further by creating four principles that define their project:
- Fun First: It tries to keep the blockchain invisible or in the background. It puts the fun of gaming in the foreground. Games created within the ecosystem are accessible to all. It does not matter how well you know blockchain.
- Player-owned: Unlike centralised games like World of Warcraft, Minecraft, etc., players in this ecosystem retain ownership of their items/rewards in the game. For example, let us say a player owns a CraneBot from Town Star (a game by Gala Games). The CraneBot is an NFT issued on the Ethereum blockchain. So, he exists on the Ethereum network and not on Gala Games. Moreover, it is not able to take back the NFTs. However, users can sell the NFTs if they wish to do so.
- Community rules: Gala Games develops its games with the help of its community. Assumptions are agreed upon and tested with the Discord community. Suggestions from the community are incorporated into the design of the games.
- Driven by people: The Gala Games network is powered by its users. These users are responsible for running Gala nodes from their computers and devices.
GALA / USDT market
From today you have the opportunity to trade GALA tokens on our exchange in pair with Tether.