What is Gala (GALA)?

GALA is the digital utility token of the Gala Games, a blockchain-based Play-to-Earn (P2E) gaming platform. This platform was built on the Ethereum blockchain in 2019, Gala Games provides a set of games that reward players in its native token, GALA, other game-specific tokens, and NFTs for their gameplay. Apart from Gala games, the ecosystem of Gala also includes Gala Music (a decentralized world of music built using Web3 to empower artists) and Gala Films (a decentralized world of films built using Web3 to empower filmmakers). It partnered with Polygon and BNB chains to allow its players to send tokens to these chains. Furthermore, Gala Games is also working on its own Layer-1 native chain, Project GYRI, to help Gala reduce network fees, boost sustainability, and make future upgradability possible.

The players can use the platform's native token, GALA, to buy in-game assets and unlock other benefits in the Gala ecosystem. They can also use it as a medium of exchange to transfer value. In the future, the GALA token will power project GYRI, too. The token has a capped supply of 50 billion.

In a recent update on May 15, 2023, Gala Games rolled out the new GALA (v2) tokens with several improvements, like a better burn mechanism and security upgrades. All addresses holding GALA tokens received the new GALA (v2) token through a 1:1 token airdrop. After completing this airdrop, Gala Games burned almost 21 billion GALA tokens worth $637 million. The burned tokens included Gala Games' huge GALA token reserves, easing worries in the Gala community about the company suddenly selling off its reserves and leaving. GALA token undergoes halving every year on 21st July.

How does Gala (GALA) work?

Gala's goal is to give the value of online gaming back to the players through Web3 and blockchain technology. Its model includes multiple online game options where players can earn the in-game currency of Gala to buy game assets and digital artefacts, aka NFTs.

To ensure that the decentralized network of Gala games runs smoothly and securely, different types of nodes exist in the Gala ecosystem. These nodes are the computers linked to the network and help verify all types of transactions in the Gala games or its other components. The Gala network has four types of nodes: Founder, Game, Player, and Film.

Founder nodes provide security to the Gala network and vote on the evolution of its associated projects. Only 50,000 founder nodes can exist in the Gala network. Anyone can become one by buying the license to operate a node by paying GALA tokens. Founder nodes earn new GALA tokens and some limited edition NFTs in return for their service.

Then comes the Game nodes owned by users who own the gaming servers of the Gala games. They support a specific game ecosystem in the Gala and ensure its smooth functionality. Owners of these nodes earn the in-game tokens of the particular game they are assigned. For example, Game nodes of the Town Star game (one of the many games of the Gala ecosystem) earn TOWN tokens for their service. The owners of these nodes get special privileges in their games, like the power to invite other players.

After it comes to the player nodes, these nodes work in the listen and earn aspect of Gala music. They are decentralized music player nodes that allow listeners to play and share music in NFT form. In exchange for their service, they get the BEAMS tokens. BEAMS are the test tokens that will soon be convertible into the GALA tokens when it is live. However, they can only be used to access the various services and support artists participating in the Gala Music tracks.

The last node type in the Gala ecosystem is the Film node. They host the entertainment and film experiences in the entertainment ecosystem of the platform.

To keep rewarding the specific nodes of the network and bring new GALA tokens into circulation, Gala operates a Distribution system. Under this system, a fixed amount of the GALA token is released daily to the Founder's node operators and the treasury of Gala games in a 50:50 split. This distribution amount is reduced to half every year during the halving event on 21st July.

How to Buy Gala (GALA) in India?

There are many platforms where you can invest and Buy Gala tokens (GALA) in India.

One such platform is Flitpay. To buy Gala in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy Gala and execute the purchase.

You can instantly convert your INR to Gala and Gala to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After I Buy Gala (GALA)?

GALA tokens can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the Gala (GALA) till it reaches a high price, and then you can sell it through Flitpay's OTC order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

Those interested in participating in Gala's play-to-earn (P2E) model can also use this token to earn multiple in-game digital assets and NFTs. Moreover, its holders can also use it to buy node licenses in the Gala ecosystem to earn more GALA tokens as a reward.

Why Use Gala (GALA)?

Gala offers an extensive portfolio of top-tier AAA-grade decentralized games, enriching gamers' experiences with unparalleled freedom, transparency, and ownership. Its primary goal is to provide an expansive selection of web3-based play-to-earn games alongside an enticing library of music and films, all as convenient to use as their existing web2 counterparts. In essence, Gala bridges the gap between the user-friendly nature of web2 services and the ownership empowerment inherent in web3 technologies.

Gala (GALA) is a cryptocurrency token in the Gala Games ecosystem. It serves several essential purposes:

1. It's a medium of exchange for in-game transactions, enabling players to securely buy, sell, and trade in-game items and assets.
2. Gala is used to participate in governance decisions, giving token holders a say in the platform's development and future direction.
3. It is also used to stake in nodes and earn rewards, promoting network security and decentralization.

FAQs

What is Gala (GALA)?

GALA is the native utility token of the Gala's P2E gaming ecosystem. It is used as an incentive for gamers playing the decentralized web3 games offered by Gala. Its total supply is 50 billion and undergoes halving every year on July 21. Recently, it underwent a v2 upgrade through a 1:1 airdrop for increased security and a better burn mechanism.

What is the Gala (GALA) price in India?

Check out the current INR price of GALA  crypto in India on Flitpay.

Which is the best platform to buy Gala (GALA) in India?

The best crypto exchange in India to buy GALA or your favourite cryptocurrencies is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of the Gala (GALA)?

Gala offers several benefits in establishing a decentralized gaming, music, and film world. Its users enjoy enticing Play-to-Earn (P2E) opportunities on some high-quality games with greater freedom and transparency. It works to revolutionize the existing gaming industry with the forces of web3 and blockchain.

Is it safe to invest in Gala (GALA) in India?

Yes, investing and trading Gala is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges to buy GALA. It offers the most real-time prices and advanced investing features.

Is Gala (GALA) a Good Investment?

GALA is an integral part of the existing play-to-earn gaming industry with multiple popular games like Champions Arena, Dragon Strikes, Poker Play, Spider Tanks, Townstar, and many more. Moreover, its music and film aspects are also rapidly growing. However, the tokenomics and roadmap of GALA hint towards an unclear vision, which may prove problematic in it as an investment. Also, the crypto market is highly volatile and risky. Thus, one must be cautious before investing in it.