Is Gala Games different from others? How has Gala crypto fared?

Highlights

• ApeCoin was sharply up at the time of writing this, with BTC and ETH also registering limited gains
• Gala claims to have a number of blockchain-powered games, but only one has been launched
• Gala crypto has lost value in 2022, but its metaverse and NFT features make for a close watch

The cryptoverse had staged a comeback of sorts at the time of writing, with Bitcoin having appreciated over two per cent and ApeCoin surging a whopping eight per cent.

By utility, Bitcoin and ApeCoin are different, in that the former has no non-fungible token (NFT) or metaverse underpinnings.

In the NFT sub-category within cryptos, ApeCoin trumped biggies like Axie Infinity in a matter of just one month of its launch. Reportedly, Yuga Labs, which has BAYC NFTs under its umbrella, may soon launch a metaverse, where ApeCoin token might become a medium of exchange.

That said, another trending crypto is Gala Games, which comes with similar NFT features.

A collection of blockchain-powered games and linked digital assets, Gala featured in the top 100 cryptoassets at the time of writing, with Bitcoin and Ether occupying the first and second positions, respectively.

Does Gala Games differ from other games?

While most other blockchain gaming verses like Axie Infinity are single games, Gala’s ecosystem, the project claims, will have multiple games. Town Star, a browser-based simulation game, is the only one that seems to have been launched.

In one of its official blogs, Gala Games has also indicated the launch of a native blockchain to power its gaming ecosystem.

While in Axie Infinity, Axie creatures come as collectible digital assets, Gala is expected to have a wide variety of NFTs. Gala Games claims one of its NFTs sold for as high as US$3 million. This compares with other expensive NFTs like CryptoPunks and BAYC.

Also read: Which are top NFT games’ tokens by market cap?

Gala Games also highlights its decentralized governance attribute. Here, it claims to have over 16,000 nodes, run by the players using its platform.

Voting to decide the governance of the ecosystem is also a highlight. But most other games using the decentralized ledger tech also have governance tokens to give powers in the hands of users.

Gala Games (GALA) crypto

GALA token, the project claims, can be obtained either by becoming a node operator or by buying over an exchange like Binance.

As of writing, Gala token’s market cap was over US$1.1 billion, with a price per token of nearly US$0.17. Over the past 24 hours, Gala Games crypto had gained over 2 per cent.

On a year-to-date basis, however, Gala token was in red. The price of the token on January 1, 2022, was nearly US$0.45.

Also read: What is Immutable X Layer 2 NFT service and how has IMX token fared?

Data provided by CoinMarketCap.com

Bottom line

Gala crypto price prediction in the near term is simply not possible as the token has displayed immense volatility this year. Between January 24 and February 9, Gala token doubled its price, before entering a deep bearish phase. Gala Game’s ecosystem, consisting of blockchain gaming and NFTs, makes for an interesting watch.

Also read: What is Fidelity’s Bitcoin 401(k) offering? What to keep in mind?

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