What is Gala (GALA) crypto and why is it in news these days?

Highlights

• Gala’s platform aims to reshape the gaming industry by giving control to its players over their games
• Its utility token is known as GALA
• The token can be traded at Binance, KuCoin, Bitget and heaps more

The Gala crypto is gaining attention today as the crypto has increased by nearly 2% over the last 24 hours to reach a price of US$0.07862, at the time of writing. Meanwhile, the total crypto market volume saw a jump of 52.32% to US$81.81 billion, up on the previous day.

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What is Gala (GALA)?

Gala is a blockchain-based gaming platform that aims to transform the gaming industry by giving its players complete ownership and control over their in-game assets.

Its in-house token, GALA,  is built on the Ethereum blockchain, which powers Gala Games. The token can be used to buy items, upgrades, and other in-game assets and can be used as a governance token.

Founded by Eric Schiermeyer in 2019, Gala games is not a single game; instead, it offers a wide range of different blockchain games that prioritises fun and places blockchain in the background. Here, non-fungible tokens can be developed by the gamers who can trade in the same either in the game or through other exchanges to earn crypto.

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Further, Gala’s platform varies from other gaming platforms as the former gives control to its players pertaining to the game’s development. This gives its players full control of their in-game purchases.

Related Read: Is Gala Games different from others? How has Gala crypto fared?

Is Gala secured?

The Gala platform operates on Ethereum and BSC, i.e., the Binance Smart Chain blockchain and is secured by its own nodes, also referred to as Founder’s Nodes.

These Founder's Nodes, in turn, validate in-game transactions and secure the network. Moreover, these nodes can also vote regarding the release of games to the Gala Games platform.

Also Read: How does Gala Games use blockchain & what is GALA’s price prediction?

Where to purchase the GALA token?

The token can be bought from several cryptocurrency exchanges like Binance, FTX, KuCoin, Gate.io, Bitrue and Sushiswap and many more.

Gala Games’ Grit to debut on Epic games store

As per the latest reports, Gala Games and Epic Games have entered into a partnership to publish Grit, its blockchain game, on the latter's Games Store. Through this, Gala hopes to bring Web3 games to the masses, thus exposing gamers across the globe to a new genre of entertainment, and strengthening its position as a leader in the burgeoning Web3 games industry.

GALA tokens

At present, the Gala crypto ranks 79^th worldwide in terms of market capitalisation. There are around 6.98 billion GALA tokens in circulation, while the total supply is 35.24 billion coins.

Bottom Line

Those investors who are looking to invest in the volatile and risky world of cryptos must undertake a thorough study of the desired cryptocurrency and invest according to their risk appetite.

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