Gala Crypto: Worth Investing Or Just Another Hype?

Gala Games is a metaverse platform that aims to decentralise online gaming and give players ownership of their in-game items. GALA is the native utility token of the Gala Games project, which is represented as ERC-2 and BEP-20 tokens. GALA tokens are used to purchase in-game items and can also be earned by running a node. The price of GALA tokens has been volatile, with a surge in September 2021, followed by a decline in late 2021 and early 2022. As of July 2024, the current price of GALA is $0.0228 USD. The question of whether Gala crypto is a good investment depends on various factors, including the performance of the metaverse sector and the crypto market as a whole.

Gala's price predictions for 2024 and beyond

Gala (GALA) is a native utility token of the Gala Games ecosystem, which is a blockchain-based gaming platform. GALA is used for transactions within the platform, including buying items, paying for games, and participating in governance votes.

GALA's price has been volatile, with a significant drop in 2024. As of August 2024, the price of GALA was around $0.02. The token's performance in 2024 has been bearish, with a notable decline in June due to a security breach. However, the long-term sentiment remains bullish, and GALA is expected to make a recovery.

2024

According to price predictions, GALA's price could reach a maximum of $0.0693 by the end of 2024. The average trading price for the year is expected to be around $0.0437. The minimum price for 2024 is predicted to be $0.0191, with the potential to drop further to $0.014 in a bearish scenario.

2025

For 2025, GALA's price is predicted to be within a range of $0.020189 and $0.09575. The average price for the year is expected to be around $0.025. GALA could see significant growth in 2025, with the potential to surpass $0.1.

2026

By 2026, GALA's integration within the gaming industry is anticipated to gain traction, positively influencing its price. The average price for 2026 is predicted to be $0.028, with a potential high of $0.034.

2027

Despite being a correction year, 2027 is still expected to see a decent price range for GALA. The average price prediction for the year is $0.034, with a potential high of $0.04.

2028

2028 is anticipated to be a correction year, with a rollback in prices due to market consolidation and investor fear. GALA's average price for the year is predicted to be $0.04, with a potential minimum of $0.032 and a maximum of $0.048.

2029

GALA's value is expected to surge in 2029 due to its increasing use case in game development. The average price for the year is predicted to be $0.051, with a potential high of $0.061.

2030

By 2030, the continuous usage and market acceptance of GALA, particularly in gaming and NFTs, should push its price higher. The average price prediction for 2030 is $0.044, with a potential maximum of $0.053.

Beyond 2030

GALA's price predictions for the long term show a steady upward trend. By 2031, the average price is expected to be $0.064, and by 2032, it could reach $0.075. By 2035, the price of GALA is predicted to be within a range of $0.09 to $0.13.

It is important to note that cryptocurrency markets are highly volatile, and these predictions should not be considered financial advice. Conduct your own research and consult with a financial advisor before making any investment decisions.

Gala's performance history

Gala Games was founded in 2018 by Eric Schiermeyer, the co-founder of the games developer Zynga, along with crypto miner Wright Thurston and Michael McCarthy, the creative director behind viral games such as FarmVille. Their aim was to make online gaming more decentralised and target a wide variety of gamers who wanted to change the way things were done in the gaming world.

The GALA token started to gain traction in September 2021 after being listed on the Binance (BNB) and Bibox crypto exchange platforms in the middle of the month. Its price surged to $0.113 on 23 September 2021, up more than 500-fold from its previous all-time low of $0.00022 on 28 December 2020.

The token's price stagnated throughout October and mid-November 2021. However, news on 15 November 2021 that the company would release its first limited supply of Game Node licences for Town Star boosted the GALA token threefold, up from $0.13 on 15 November 2021 to $0.37 a week later.

The token's price surged to $0.71, its all-time high, by 28 November 2021, after the announcement of the release of a new series of its VOX NFTs.

Success, however, was short-lived for the Gala Games crypto, despite the general hype surrounding play-to-earn platforms, which passed a record $1bn in NFT trading volumes in November, according to data published by DappRadar. Between its all-time high at the end of November and 3 December 2021, the token's value dropped by 29% to $0.51. The Gala Games token continued on a downward trend over the following month until it reached $0.18 on 22 January 2022.

The token then doubled from its 22 January value to $0.38 on 8 February 2022, as anticipation built around the upcoming release of 8,888 membership NFTs in the Flare realm, where Gala Games had integrated with the Flare Network.

The token's value started to rapidly decline by mid-February 2022, falling by 37% in one week from $0.36 on 15 February to $0.22 after Russia's invasion of Ukraine. The token has yet to return to that level.

On 12 May 2022, after the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency, GALA fell to a low of $0.04944. After that, it made a recovery, reaching $0.07253 on 13 August before falling back down again to a low of $0.03161 on 21 October.

A combination of the news about Mark Skaggs's hiring and growing interest ahead of the launch of Spider Tanks saw GALA reach a high of $0.0441 on 31 October. After that, however, one single wallet appeared to mint more than $1bn worth of GALA out of nowhere, prompting fears of a rug pull.

The price collapsed to $0.02837 on 3 November, before recovering somewhat to around $0.03485 on 4 November. GALA was then hit by the collapse of the FTX (FTT) exchange, dropping to a low of $0.01555 before closing the year at $0.01666.

The token moved up in early January 2023 and, on 9 January, it received a notable boost when it was announced that Gala Games' movies division, Gala Film, was working on projects with Hollywood stars Dwayne 'The Rock' Johnson and Mark Wahlberg. This saw GALA go on a bull run that culminated in a high of $0.06241 on 28 January, its best price since August. After that, there was a downturn exacerbated by the collapse of the Silvergate bank, and it sank to $0.0304 on 11 March.

As of 3 April 2023, GALA was worth about $0.0404. There were just under seven billion GALA in circulation out of a total supply of a little over 35 billion. This gave it a market cap of around $281.8 million, making it the 124th-largest crypto by that metric.

In early June 2022, the platform hosted Galaverse, an immersive world experience for each one of its games, in Malta. According to the Times of Malta, rappers Snoop Dogg, Ice Cube, E-40 and Too Short appeared at the event via a recorded message in which they introduced their new supergroup, Mount Westmore, with the Metaverse release of their debut album Bad MFs.

GALA is a native utility token of the project, represented as ERC-2 and BEP-20 tokens. It has a maximum supply of 35 billion tokens with only around 7 billion currently circulating. It began trading in September 2020. The Gala token is used to purchase in-game items and can also be earned by running a node.

Gala's connection to Ethereum

Gala is a blockchain gaming ecosystem, with its own layer-1 blockchain, GalaChain. The GALA token is the utility token and primary medium of exchange of the ecosystem.

Gala was founded in 2019 by Eric Schiermeyer, the co-founder of the games developer Zynga, and is built on the Ethereum (ETH) blockchain. GALA is a token, rather than a coin, and is transferable between users, who have full control over how to use them.

Gala's core is powered by its DePIN (Decentralized Physical Infrastructure Network) of Founder's Nodes, whose operators earn daily GALA rewards for actively providing resources to the ecosystem and have governance voting rights on certain core Gala decisions.

GalaChain is open to external developers and provides open-source developer resources to simplify the process of creating custom tokens, smart contracts, reward opportunities and node networks for their communities and projects.

Assets built on GalaChain can also be bridged to other blockchains, such as Ethereum, Binance Smart Chain and more.

GALA is the 94th largest crypto by market cap.

Gala's utility and use cases

Gala is a blockchain-based gaming project that aims to revolutionise the gaming industry by giving players control over their gaming experience. The project's goal is to create blockchain games that are accessible to beginners and experienced players alike, with the underlying blockchain architecture remaining invisible. Gala Games, the company behind the project, was founded in 2018 by Eric Schiermeyer, the co-founder of Zynga, along with crypto miner Wright Thurston and Michael McCarthy, the creative director behind viral games such as FarmVille.

Gala is not a single game but a set of games united by the same idea. The first game delivered by the company is Town Star, a browser town simulation game similar to SimCity, with the key difference being that players who manage the town own it. Another game in development is Fortified, a player-versus-player town defence game with medieval gameplay, where players compete to build the best town defence.

The GALA token is a native utility token of the Gala Games project. It is represented as ERC-20 and BEP-20 tokens and has a maximum supply of 35 billion, with around 7 billion currently in circulation. The token can be used to purchase in-game items and can also be earned by running a node. GALA is based on the Ethereum (ETH) blockchain, and tokens are transferable between users, who have full control over how to use them.

Gala's utility extends beyond its use as an in-game currency. Users can purchase nodes in GALA, ether (ETH), or basic attention tokens (BAT) and acquire voting rights on which games will be published next on the platform. This process is known as the Founder's Nodes within the Gala Games Ecosystem, which is powered by more than 16,000 player-run nodes. The GALA token is also used to reward holders and Founder's Nodes owners who have operated their computers on the network for at least six hours, with rewards issued daily.

Additionally, Gala has introduced non-fungible tokens (NFTs) into its ecosystem, allowing players to take ownership of their game items. These NFTs can be collected, traded, and sold within the Gala Games ecosystem. The company also launched an NFT collection called VOX, a set of unique collectible avatars, some rarer than others.

Gala's utility is further demonstrated in the Zeepin Chain token economics, where Gala tokens have a wide variety of uses. ZPT holders will receive Gala tokens regularly to power their Smart Contracts and transactions. Gala is also used for Zeepin Smart Contract deployment, network consumption fees, and exploring the CryptoGalaxy universe.

The Gala platform is also being used beyond the gaming industry. For example, the Detroit River Story Lab (DRSL) project is working with Gala to research and amplify stories of the Detroit River, making the history and current challenges facing the river and adjoining communities more present and tangible.

Gala's competition and market position

Gala is a blockchain-based gaming ecosystem with a native utility token, GALA, which is used for transactions and purchasing in-game items. It aims to empower users and creators across multiple industries, with a focus on gaming, music, and film. Gala's competition primarily consists of other blockchain gaming platforms and decentralised software solutions.

Gala's top competitors include projects like Open Games Builders, which also operates in the blockchain gaming space. Other competitors include Aptos, Arbitrum, Avalanche Mainnet, and the Binance Smart Chain. These platforms provide similar functionality and target the same user base as Gala.

Gala stands out from its competitors due to its focus on multiple decentralised networks across various industries, beginning with entertainment brands in games, music, and film. This sets it apart from other blockchain gaming platforms that often offer single games. Gala's advantage lies in its ability to provide a diverse range of gaming experiences within a single ecosystem.

In terms of market position, Gala has a strong presence in the blockchain gaming industry. As of early 2024, the company has over 350 full-time employees, including core brands such as Gala Games, Gala Music, Gala Film, and GalaChain. The GALA token is listed on many private and decentralised exchanges worldwide, with a daily trading volume of over $100 million.

Gala's unique selling proposition is its ability to combine play-to-earn mechanics, non-fungible tokens (NFTs), and a diverse range of games within a single ecosystem. This differentiates it from competitors and has helped Gala attract a dedicated user base.

Gala's market cap as of September 2024 is over $699 million, with a fully diluted valuation of over $12.5 billion. This puts Gala in a strong position in the blockchain gaming market, allowing it to continue developing its platform and attracting new users.

Overall, Gala's competition consists of various blockchain gaming and decentralised software solutions providers. However, Gala's unique approach to offering multiple games within a single ecosystem and its strong market position makes it a compelling player in the blockchain gaming industry.

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