GALA: Everything You Need to Know About Gala Games and Its Blockchain-Powered Gaming Ecosystem

GALA: Everything You Need to Know

GALA is an Ethereum-based token that powers Gala Games, a platform for blockchain gaming. Gala Games was created by industry-leading game developers who wanted to bring value back to the players with the help of Web3 and blockchain technology. The platform aims to offer a variety of games that are fun, engaging, and rewarding for the players, as well as giving them more freedom, control, and ownership over their gaming experience1.

GALA is the core utility token for Gala Games. It is used as the medium of exchange between Gala Games participants. For example, it can be used to pay for in-game items, access exclusive games and services, or participate in the governance of the platform. GALA is also distributed as a reward to the Founder’s Node operators, who run nodes that secure and maintain the Gala Games network2.

How does GALA work?

GALA works as a digital token that is fully backed by and redeemable for physical gold. Each PAXG token is backed by one fine troy ounce of gold, stored in LBMA vaults in London. If you own PAXG, you own the underlying physical gold, held in custody by Paxos Trust Company1. The allocated gold that backs PAXG is audited monthly by a third-party firm and the reports are publicly available3. Paxos Trust Company also provides a lookup tool that allows users to check the serial number and information about their gold4.

GALA can be bought and sold on various platforms, such as Paxos.com, crypto exchanges, wallets, lending platforms, and more. GALA can also be transferred peer-to-peer on the Ethereum network, with near-instantaneous settlement and low transaction fees. GALA holders can also earn rewards by staking or farming GALA tokens or NFTs on platforms such as ApeSwap or ApeGames.

GALA is also redeemable for physical gold or fiat currency at any time. Institutional customers can redeem PAXG for unallocated Loco London Gold or LBMA-accredited Good Delivery gold bullion bars. Individual customers can redeem PAXG for USD at current gold market prices on Paxos.com.

Who is the team behind GALA?

GALA is issued by Gala Games, a US-based company that was founded in 2019 by Eric Schiermeyer, a co-founder of Zynga, along with other experts from gaming, crypto, and blockchain fields. The team behind Gala Games has decades of combined experience in creating successful games such as Zynga Poker, Farmville, Mafia Wars, Words with Friends, and more. The team’s vision is to empower players with blockchain technology and create a decentralized gaming economy that benefits both developers and gamers1.

The core team behind Gala Games and GALA consists of:

Eric Schiermeyer, co-founder and CEO. He has over 20 years of experience in gaming and entrepreneurship. He is also a co-founder of Zynga and Liberty City Ventures.

Michael McCarthy, co-founder and Chief Creative Officer. He has over 15 years of experience in game design and development. He previously worked at Activision Blizzard, Electronic Arts, Disney Interactive Studios, and Zynga.

Jason Brink (aka BitBender), co-founder and Chief Marketing Officer. He has over 10 years of experience in crypto and blockchain marketing. He previously worked at Dash Core Group, Horizen (formerly ZenCash), and Divi Project.

Jason Jang (aka Jihoz), co-founder and Chief Strategy Officer. He has over 10 years of experience in gaming and crypto communities. He previously worked at Axie Infinity (Sky Mavis), Decentraland (Metaverse Holdings), and CryptoKitties (Dapper Labs).

What are its use cases?

GALA has various use cases within and outside the Gala Games ecosystem. Within the ecosystem,

GALA can be used to:

Play various games that are powered by blockchain technology and NFTs, such as Town Star, Mirandus, Spider Tank Project, Echoes of Empire, Fortified, Legacy, etc.

Buy, sell, trade, or collect various in-game items that are represented by NFTs, such as land plots, buildings, vehicles, weapons, characters, skins, etc.

Access exclusive games and services that require GALA tokens or NFTs, such as premium features, special events, tournaments, etc.

Participate in the governance of the Gala Games platform by voting on proposals and electing Board members using GALA tokens.

Earn rewards by running a Founder’s Node or staking or farming GALA tokens or NFTs on platforms such as ApeSwap or ApeGames.

Outside the ecosystem, GALA can be used to:

Trade with other cryptocurrencies or fiat currencies on various platforms, such as crypto exchanges, wallets, lending platforms, etc.

Store value as a digital asset with a limited supply and a reward mechanism.

Support other projects or causes that accept GALA donations or payments.

Conclusion

GALA is a digital token that powers Gala Games, a platform for blockchain gaming. GALA is used as the medium of exchange between Gala Games participants, as well as the reward for running nodes that secure and maintain the network. GALA also gives access to various games and services that leverage blockchain technology and NFTs. With its experienced team and passionate community, GALA has the potential to become one of the leading tokens in the gaming space.