Who Is Behind Gala Cryptocurrency?
Gala Games is a blockchain gaming enterprise that was launched in the year of 2019, by Eric Schiermeyer. It was founded under the pretence of “giving power back to the gamers”. Schiermeyer, who is also the Co-founder of Zynga, is known for developing multiple games like Farmville and Mafia Wars. When developing Gala Games, the goal behind it was to make “blockchain games you’ll actually want to play.”
What Is the Concept of Gala Games?
The concept of Gala Games is to provide a play-to-earn network through the use of blockchain technology. In return, gamers tend to earn rewards and in-game assets in the form of NFTs and other digital benefits. This enables gamers to get a cut from the multi-billion dollar gaming industry, by trading the rewards on decentralized exchanges platfroms (DEXs) for other cryptocurrencies.
The gaming blockchain is powered by its native token Gala. The Gala token is an ERC-20 cryptocurrency. It has several uses within the network stemming from network governance, in-game currency, rewards, and node operator incentives. In this article we briefly evaluate the Gala token’s price, and its price prediction within the upcoming future.
Gala Price History
Launched on September 18th of the year 2020, the Gala token had an estimated price of $0.0014. For the first 6 months since its launch, Gala managed to oversee bearish trends with its value. Subsequently, on December 28th, it reached its all-time low price of $0.00013475. However, six months after Gala’s all time low, it managed to overcome its downturn with a price of $0.0073913. Causing its value to be up by 5385%.
On September 12th, Binance announced that they will be listing the Gala token for trade on their platform. This announcement gave the Gala token a much needed boost in its price. On September 28th, exactly one year since its launch, the token had an estimated value $0.113373, which lead its value to be up by 8000%.
Gala Live Price Analysis
As of today, the Gala token has a price of $0.4433. Its price is down by 46% since its all time high. Since its launch date, the token has endured a positive price change of 31564.29%. Within the last 24 hours, its price has been up by 2.6%, with a trading volume of over 497 million. Furthermore, Gala’s current CoinMarketCap ranking is #48, with a live market cap value of $3,352,438,230. Based on its price performance in the last 30 days, Walletinvestor.com has identified GALA’s price trend as bullish.
Gala Price Prediction for 2022
Gala’s overall forecasted value for the year 2022 will oversee bullish trends. It’s expected to open the month of January with a price of $0.46, and close the month with an estimated price of $0.508. For June, Gala’s forecasted opening price is set at $0.705. While its closing price is predicted to be $0.758. Therefore, within the first 6 months of 2022, Gala’s value is expected to be up by 64.78%.
Furthermore, the token is supposedly going to hit its $1 dollar mark in the month of December. It will open the month with an estimated price of $1.013, and will close at $1.063. By the end of the year, Gala is expected to generate an increase in profits by 131.09%.
Gala Price Prediction for 2023
Currently, most data analytics seem to point that Gala is only going to increase in its value from here on out. WalletInvestor says that the altcoin is supposedly going to stay above the $1 dollar mark for the year of 2023. It will open the year with the estimated price of $1.066, and will close at the estimated price of $1.109. A return of only 4.03% is expected.
Gala Price Prediction for 2024
According to WalletInvestor, Gala will open the year with a price of $1.699. If Gala’s positive trend continues, it will hit the $2 dollar mark before year-end. The token is expected generate a return of 13.1% in the first half of the year. It will allegedly hit its 2 dollar mark by late July. And will close the year with an estimated price of $2.27. Furthermore, the token’s price will supposably be up by 33.61% for the year 2024.
Gala Price Prediction for 2025
Gala will open the month of January with an estimated price of $2.273. As long as Gala’s sentiment remains bullish, the token will oversee a continuation in its positive trend. Its closing price for said year is expected to be $2.877. Subsequently, the token will endure a price change of 26.57% for the entirety of the year 2025.
Gala Price Prediction for 2026
Gala’s 5 year forecast shows that it will hit its $3 dollar mark in the year 2026. Its opening price for said year is estimated to be around $2.882. WalletInvestor claims that Gala will allegedly equal to an estimate of $3 dollars by mid March. The token’s closing price for the year 2026 is set around $3.45. Gala’s price is expected to be up by 21.44% within the end of the year.
What is unique about Gala Crypto?
The core principle that drives the Gala Games enterprise is bringing back game ownership to the gamers. On the other hand, the recent innovations within the gaming industry, lead to an increase in digital platform games. Which has lead to a decrease in the number of players who know what it feels like to OWN their own game.
Gala ensures that the players have a sense of ownership through the use of their blockchain’s innovative technology. Below is the current view of the key components within the node ecosystem that Gala is working to create.
- Gala Games: It is the unit which provides most of the maintenance services for the network. For example, It helps the network grow through its marketing efforts, and also ensures the finest approaches in development. In addition, it assists with the implementation of game studios into the Gala Games network, and verifies node software updates.
- The Game Development Studios: This component allows digital creators to use the Gala Games’ protocols and toolkits to produce standardized crypto packages, NFT libraries, and wallets to be implemented within their game. Moreover, node holders will be able to approve these studios through a majority vote.
- The Governance-Based Random Distribution Algorithim: This is the part of the ecosystem which will eventually provide NFT rewards to the node network through a random distribution. This is a concept that has yet to be developed and is still in the works.
- Public Database with Endpoints: Any audits or analytics run by developers within the network, will be accessible for the community to read on Gala’s public database.
- The Treasure Chest: This is where the network’s users are able to collect their Gala and NFT rewards. In order to make it easier for users to control their in-game assets.
How to Buy Gala?
Gala is available to trade on many exchange platforms. Some of the most well known exchanges which have listed Gala within their platforms are Binance, FTX, Crypto.com, Huobi Global, and Bybit. Below is an instructional video which helps you get a better understanding of how to buy and sell the Gala token.
Many data analytics forecasts have claimed that Gala’s price will soar in the future. Nonetheless, the crypto market is known to be an ever-changing marketplace that contains thousands of cryptocurrencies which are publicly available to trade. Therefore, to ensure the protection of your assets, its always best to keep in mind the trends of other cryptocurrencies and the risks they may face.
Sally is a student of International Business Management and is interested in topics related to blockchain technology. She is an author for gBlogo’s “Crypto World” column and provides insight on topics related to cryptocurrencies and NFTs.