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How to Buy Gala (GALA) and Everything You Need to Know

16 mins
Updated by May Woods
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GameFi has seen founders and developers search for a real-world use case for integrating blockchain and gaming. Gala Games is one such project. Read on to learn how to buy GALA and everything else you need to know, from the project’s ecosystem to supporting wallets and comparisons with similar cryptos.

Methodology

Top 5 platforms to buy Gala (GALA)

Before we dive in and demonstrate how to buy GALA, it makes sense to list a few of the top platforms that support the native GameFi token. Here’s BeInCrypto’s tried and tested top five in 2024.

Avaialbility
100+ countries
Fees
N/A
Minimum depsoit
$100
Availability
100+ countries
Fees
0.16% (maker) | 0.26% (taker)
Minimum deposit
$10
Availability
200+ countries
Fees
0.1%
Minimum deposit
$5
Availability
184+ countries
Fees
1.4%-2.65%
Minimum deposit
$10
Availability
100+ countries
Fees
0.1%~0.3%
Minimum deposit
10 USDT

How to buy Gala (GALA)

Many crypto exchanges offer GALA. For this demo, we will use Kraken to show how to purchase GALA.

1. Account sign-up: Go to the Kraken website and sign up for an account. You will need an e-mail address, phone number, and a valid photo ID. Follow the instructions to complete the sign-up process.

how to buy gala step 1
Important:

Always make sure that you use www.kraken.com/sign-in to create an account and verify that the email address is a valid Kraken email address.

2. Download the Kraken app and select GALA: Download and open the Kraken app. It is available on Android and iOS. Once you are in, press the explore button and select GALA.

how to buy gala step 2

3. Select the amount of GALA: Select the amount of GALA that you would like to purchase, choose a payment method, and select ‘Next’ to continue.

how to buy gala step 3

4. Swipe to confirm: Swipe right to confirm your transaction.

how to buy gala step 4

You have successfully completed your first GALA purchase.

step 5

How to sell Gala (GALA)

1. Select GALA: Open the Kraken app and select your “Portfolio.” The small wallet icon is to the left of the “Exchange” button. Here, you can see the balance of your coins, tokens, and fiat holdings. Select GALA.

step 1

2. Press the Sell button: After you select GALA, you will go to a page that shows your transaction history. At the bottom of the page, tap the “Sell” button.

step 2

3. Choose the amount: Choose the amount of GALA you want to sell. Notice that you can also change the order types you wish to use. After you select the amount, press “Next”.

step 3

4. Swipe to confirm: Swipe to confirm your sell transaction.

step 4

You have successfully sold GALA.

step 5

What is Gala (GALA)? 

Gala Games is a blockchain-based gaming platform on the Ethereum blockchain. It specializes in the creation of play-to-earn NFT games. The Gala platform offers a variety of games within its ecosystem.

It utilizes the play-to-earn model and non-fungible tokens (NFTs) across different gaming genres. Gala operates on a network managed by tens of thousands of players who run Gala nodes.

The platform purports to have 1.3 million active monthly users and has facilitated the sale of over 26,000 NFTs, with the highest recorded sale reaching $3 million. Eric Schiermeyer, who co-founded Zynga, and Michael McCarthy, who worked on Farmville and Mafia Wars, founded Gala Games in 2019.

how to buy gala games founders
Gala Games founders: Medium.com

The goal of Gala Games is to put gameplay and player experience at the forefront, focusing on the development of AAA-quality games. They have substantially invested in acquiring high-quality games to add to their platform. In 2024, Gala Games offers a variety of games, some of which are still in beta testing, and they are continuously releasing more titles.

How does Gala (GALA) work?

Gala Games is a blockchain-based gaming platform that emphasizes giving control back to the players. The platform allows players a significant role in the decision-making process regarding which games are added to the platform.

It features a voting system among Gala nodes, and any player can establish a node using their PC. The platform utilizes its own native token, GALA, which players can use to make in-game purchases and conduct peer-to-peer (P2P) transactions within the ecosystem. Rewards earned through gameplay are also distributed in the GALA token.

Gala (GALA) tokenomics

GALA token historic price: coingecko.com
GALA token historic price: CoinGecko

The GALA token launched without a pre-sale or initial allocation, making it a fair launch token. Its distribution began through the operation of nodes, with all GALA tokens directed to the Founder’s Nodes in the Gala Games environment.

The Gala Games team reserved about 2 billion GALA tokens. On May 15, 2023, the total supply was reduced, with around 20 billion tokens burned. This reduction included all GALA tokens previously accumulated as revenue and almost all reserve GALA allocated for the Founder’s Node rewards.

Following this burn, the total amount of GALA in circulation is now 34,998,526,798 tokens. The market capitalization of GALA is slightly over $1.5 billion, with the fully diluted valuation mirroring this figure.

Gala Games nodes

Gala Games used a network of nodes, primarily Founder’s Nodes, to support its ecosystem. The nodes contributed to decentralized storage and computing, underpinning a large part of the network’s infrastructure. This setup ensured files and data were stored and shared across the network.

These nodes played a significant role in the InterPlanetary File System (IPFS), where they made up nearly 30% of the most active stable peers in early 2023. This was discovered by accident when the Gala Nodes went down for a few hours and impacted the overall network of IPFS.

With the expansion of the Gala Games ecosystem, the workload required more than what the Founder’s Nodes could handle alone, leading to the introduction of game-specific nodes.

These Game Nodes were developed to support individual games within the Gala Games ecosystem, providing unique benefits and enhancing game functions such as matchmaking, improving ping, and decreasing latency.

Each Game Node differs based on the needs of the particular game it supports. The node operators receive rewards for their support, for example, with cryptocurrency specific to the game they are aiding.

how to buy gala games ecossytem
Gala Games ecosystem: gala.games.com

In order to operate a Gala Games node, users will need to purchase a license. Founder’s nodes receive rewards in GALA, limited edition NFTs, and other various opportunities.

Gala Games became popular because of its many deals, investments, and acquisitions, which established the project as a trailblazer in the industry. Its most notable acquisition was perhaps Ember Entertainment. The acquisition was announced via Discord and Twitter by the company’s CEO, Eric Schiermeyer, also known as Benefactor.

Before its acquisition, Ember Entertainment had a collaborative relationship with Gala. It was instrumental in the creation of “The Walking Dead Empires” Gala Games title. Moreover, Gala Games also features several popular titles, such as Townstar and VOX, with additional games currently in development.

In addition to adding more games to its roster, Gala Games is also expanding its partnerships. This list encompasses notable names in gaming and entertainment, such as DreamWorks, AMC, and NBC Universal. In 2021, Gala Games also invested in Concept Labs (formerly known as Concept Art House) and partnered with South Korean Media Protocols.

Additionally, esteemed video game creators like Peter Molyneux and Will Wright are associated with Gala. In the music sector, the project has collaborated with celebrated artists, including Snoop Dogg, Ice Cube, Kings of Leon, and BT.

Gala (GALA) vs. other cryptocurrencies

If you are interested in how Gala works compared to other cryptocurrencies, look no further. Here’s a look at how Gala stacks up against XRP.

Gala (GALA) vs. XRP: An ultimate comparison

gala vs xrp
GALA (blue) vs. XRP (red): CoinMarketCap

There are many ways to compare Gala and XRP. Let’s start off with the basics. For starters, Gala is a token, while XRP is a coin. This means that the former is a smart contract, and the latter is a coin on its own blockchain.

XRP has gone through many selling points. Its most notable purpose was as a settlement currency for banks, promising a cheaper alternative. However, it eventually pivoted to remittances for international transfers.

On the other hand, GALA is an ERC-20 utility token that game developers use to pay node operators in the Gala ecosystem. Node operators can host games on their nodes in exchange for payments.

XRP uses a proof-of-work (PoW) blockchain, while GalaChain is a proof-of-authority (PoA) blockchain. This means that GalaChain has a privileged closed group of nodes that operate the blockchain.

GALA vs. XRP tokenomics

In terms of price performance, XRP had an all-time high of $3.84 on Jan. 4, 2018. GALA has barely touched a dollar, coming in at an all-time high of about $0.82. Additionally, GALA had an initial max supply of 50 billion GALA with no token sale or pre-mint phase.

The founders of XRP, Ripple Labs, pre-mined 100 billion XRP, of which a portion was solved over time. Gala would go on to burn almost half of its token supply later, as discussed previously. XRP still has the same supply. Lastly, GALA’s market cap is currently over $2 billion, and XRP’s market cap is over $34 billion.

According to BeInCrypto’s technical analysis set out in our Gala price prediction, GALA could reach $0.78 by 2030. On the other hand, XRP could reach $23.50 by 2030, as per our Ripple price prediction.

Gala (GALA) ecosystem 

buy gala games
Gala Games’ games: Gala.games.com

We would be remiss to talk about Gala Games without mentioning the games the project is working on. They are an important part of the ecosystem and require their own spotlight. At the moment, there are 28 titles in development and growing. Here is a brief list of a few that have launched.

The Walking Dead: Empires

The Walking Dead: Empires is a multiplayer MMORPG survival game developed by Ember Entertainment. It is based on the comic book series “The Walking Dead.” The Walking Dead was eventually adapted into a popular television series, with many games created as a result.

The game allows you to craft items for survival that are also NFTs. You can use the items for yourself or sell them to other players.

GRIT

Set in a “wild west” world, GRIT is a battle royale-style game developed by Team Grit. You can play as generative characters that are completely unique and double as NFTs. Several items, such as weapons, medical kits, and others, are also mintable.

The game is free but also allows you to earn rewards based on your in-game activities. GRIT is live and currently available in the Epic Games store.

Champions Arena

As a turn-based RPG game, Champions Arena allows players to collect over 100 “champions” for PvP (player vs. player) battles. The champions have unique abilities and build, allowing players to build teams according to their playing style.

You can play solo or join a guild. Additionally, in-game items are also NFTs. Users can also go on quests to gain resources. Champions Arena is available on both Android and iOS.

GalaChain

GalaChain is Gala Games’ proprietary layer-1 blockchain, designed to support and scale the company’s expanding ecosystem. The creation of GalaChain signifies Gala Games’ transition from using custodial wallets for securing player tokens and distributing NFTs.

One of the main reasons for developing GalaChain was to address certain limitations and costs associated with previous systems, particularly in relation to Ethereum. It provides a sidechain solution where players can mint tokens and items without charges.

GalaChain is built on Hyperledger Fabric. It is a proof-of-authority (PoA) chain that can support extremely fast block times, transaction throughput, and instant finality, coming in under two seconds.

With GalaChain, one of the things that we can do with this is that we have the ability to delegate usage. So you can lock a token and then assign the ability to access that token to another address.

Jason Brink, President of Blockchain for Gala Games: X

Gala (GALA) wallets 

GALA is an ERC-20 token and so can be stored in a plethora of crypto wallets. Here’s a list of some of the leading cold and hot wallets, should you decide to buy GALA.

Coinbase Wallet
Type
Mobile and browser extension
Custody
Non-custodial
MetaMask Portfolio
Type
Mobile and browser extension
Custody
Non-custodial
Trust Wallet
Type
Mobile
Custody
Non-custodial
imToken
Type
Mobile
Custody
Non-custodial
SafePal
Type
Cold wallet
Custody
Non-custodial

Gala (GALA) staking

Founder’s Nodes in the Gala Games ecosystem do not have to stake GALA to earn rewards. Instead, they earn GALA as part of the operational rewards for running a node and participating in the network.

The rewards are given for supporting the network’s infrastructure and security rather than staking tokens. However, some exchanges may offer opportunities to earn rewards for depositing GALA.

Gala (GALA): Should you buy into the hype?

It is important to point out that investing is risky, and you can lose money, whether it is an impermanent or realized loss.

Much of the GALA token’s performance, and many other tokens for that matter, is based on supply and demand. Theoretically, the more people that want the token, the higher the price goes. If there is a high demand for GALA, then the price should rise. But how does one increase the demand for GALA?

This is where the supposed risk comes in. You largely depend on the game ecosystem to increase the performance of the GALA token. Assuming there is no code risk, the biggest risk is the counter-party risk.

Simply put, there must be a demand for the games built within the Gala Games ecosystem. As it stands today, there is no staking mechanism to incentivize node operators to hold onto their tokens.

Therefore, a large part of the demand for GALA comes from the games that must pay node operators to host their games. Outside of this, the only demand for GALA comes from speculators.

Is Gala (GALA) a good investment for you?

Given all of the aforementioned points, Gala Games shows promise. As stated before, Gala has aligned itself with celebrities and important names in gaming. Many of these partnerships have fueled the popularity of Gala Games.

Many projects are attempting to bring GameFi into web3. The problem they all face is whether they have a unique selling point or USP. What separates them from another web3 game studio or crypto startup?

Gala Games is one of the few companies that has solved this problem. It has brand recognizability, it has partnerships, and it has the tech — all of which are needed to become successful in such a nascent field. Given the aforementioned points, aligning yourself with GALA early on would not be considered reckless.

GameFi: To the moon?

Now that you know how to buy GALA, the real question is whether you should buy it. For all intents and purposes, Gala Games has become the face of GameFi. It still has room to grow, and recent achievements signify the project has few plans to slow down. Remember never to invest more than you can afford to lose. Crypto is a volatile market, and many factors, including fundamentals, technical analysis, social sentiments, and competition from other projects, can all impact the price of any given token, including GALA.

Frequently asked questions

Top crypto projects in the US | June 2024

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Disclaimer

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Ryan Glenn
Ryan Glenn is a journalist, writer, and author. Ryan is motivated to educate as many people as possible on the benefits of web3 and cryptocurrency. He has authored “The Best Book for Learning Cryptocurrency,” and runs an educational platform, web3school.us, dedicated to demystifying the crypto space. Ryan built the platform to transition tech-savvy and non-tech individuals into crypto and give everyone a baseline understanding of the different fields in the cryptosphere. Ryan is also an...
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