Why is Gala (GALA) crypto rising? - Kalkine Media

February 26, 2022 08:03 AM AEDT | By Rupam Roy
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Highlights

  • The GALA price token surged more than 775% over the past 12 months.

  • The token’s current circulating supply is 6.98 billion.

  • The company said it would drop crafting stations for AMC's “The Walking Dead: Empires”.

The blockchain-based metaverse gaming crypto Gala (GALA) surged over 19% on Friday morning amid growing interest in crypto games among young users.

Its trading volume was also up over 5% in the last 24 hours to Friday morning.

The gaming cryptos are drawing increased attention from the younger generation of investors lately, as they see high growth potential in the segment with the advent of Metaverse.

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All You Need To Know About Gala (GALA) Crypto

What is Gala Games (GALA)?

Gala Games is a community-driven platform that intends to provide the controls of the games back to the players. Its attractive slogan: "blockchain games you'll actually want to play", acknowledging that most games aren’t fun-to-play, is drawing more users to the platform.

It aims to change the fact that the players invest their dollars on the in-game assets while playing countless hours, which could be taken from them in just a click.

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It focuses on reintroducing creative thinking into gaming by offering the players the games' control and the in-game assets through blockchain technology.

The players could own NFTs and govern the games with the platform's ecosystem. Besides buying NFTs for specific games, it uses its own utility token, GALA.

Since its launch in 2019, Gala Games has grown significantly, with around 1.3 million active users and over 25,000 NFTs being sold.

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What is Gala Games (GALA) crypto?

Source: *Data provided by CoinMarketCap.com

Why is the GALA token rising?

Several factors may have fuelled its recent rally. On February 9, the company said it partnered with musician Snoop Dogg to bring his fans to the platform.

Snoop Dogg’s new album, BODR (Bacc on Death Row), was released on the blockchain as a Stash Box of NFTs on the Gala Music store.

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In addition, Gala Games revealed that it would start to drop crafting stations for AMC's The Walking Dead: Empires game on Friday. The first two crafting stations: The Lab and the Forge, are now available in the limited supply of the game.

The players would be able to create and forge various useful tools and supplies at different types of crafting stations. The users may have appreciated the recent announcement from the platform.

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Bottomline

The GALA token was priced at US$19.42 at 9:26 am ET on February 25, up 19.42%, while its one-day volume rose 5.88% to US$1.76 billion. It has a market cap of US$1.64 billion, and its fully diluted market cap is US$8.35 billion.

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The current circulating supply of the token is 6.98 billion, and its total supply is around 35.24 billion. It is available on various exchanges, including Sushiswap, KuCoin, and Uniswap V3. Over the past 12 months, the GALA token returned 775.46% gains.

The crypto market is highly volatile. Hence, investors should evaluate the assets thoroughly before investing in digital assets.


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