LIVE4 Things to Know Before You Buy GALA
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1. Gala Games' price skyrocketed 50,829% last year๐๐
GALA is a blockchain-based, play-to-earn gaming platform that enables users to earn its GALA token for accomplishing in-game missions and milestone achievements. Players can also create and trade non-fungible tokens (NFTs) in the game or via non-game-based exchanges to earn crypto that can be converted to other digital assets including cash.
2. Gala Games plans to launch its own blockchain
In January, the company posted on its blog site that it's in the final stages of launching its own blockchain. The GALA platform currently runs on Ethereum, which has had issues in the past with high transaction fees and network congestion. The GALA post states that migrating to its proprietary network -- GalaChain -- will reduce those inconveniences.
3. Gala Games has its own NFT collection and a highly engaged community
Gala Games also has a successful NFT collection it launched that's called VOX, with an active secondary market for individuals interested in acquiring those pieces. In fact, one of its NFTs sold for $3 million last year. The developers also actively solicit feedback from its player community regarding the types of games they want GALA to develop and add to the platform.
4. Gala Games is 69% from its peak
Lastly, GALA is trading at $0.22 per token as of this writing, which is a 69% discount from its $0.71 price peak back on Nov. 27 of last year according to CoinMarketCap.com. The site also pegs GALA's market cap at a surprisingly low $1.5 billion, ranking it No. 58 on the list. Given the steadily increasing popularity of the metaverse and NFTs -- coupled with GALA's deep discounted market cap -- a pump of more than 50 times its current price is possible given its development plans.
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