Gala Games (not to be confused with Japanese games publisher Gala Group, with its gPotato currency) was founded in the US by Eric Schiermeyer, the man behind the online game FarmVille, with the aim of giving players ownership of the time and money they invest in video games.
Gala Games’ native token, GALA, was launched in 2020 and saw a bullish price history in 2021, climbing from $0.001 to an all-time high of $0.84 on 26 November. But over the course of December 2021 and January 2022 the price fell, to a low of $0.157 on 22 January.
The crypto market has had several major shocks since then, and the coin was trading at roughly $0.05331 on 19 June 2022.
From the GALA whitepaper
The ‘What is GALA?’ whitepaper explains: “The GALA token is the digital utility token of the Gala Games ecosystem. It is cryptographically secured and native to the Gala Games ecosystem. GALA is transferable between users, and they have full control over how to use it.
“GALA is a non-refundable utility token which will be used as the medium of exchange between participants in the Gala Games ecosystem. The goal of introducing GALA is to provide a convenient and secure mode of payment and settlement between participants who interact within the Gala Games ecosystem.”
GALA’s price history
The GALA token was launched on 18 September 2020 at $0.0014, and for the rest of the year it struggled to get past its launch price. By 28 December 2020, the coin had reached its all-time low of $0.0001.
GALA managed to break out of that bearish trend early last year and started climbing in February 2021. On 27 February, the coin reached $0.032. This was during GalaCon, an online gaming event hosted by the Gala Games team. The event, which included gaming competitions as well as a chance to meet the founding team, was hosted over two days on the GamerJibe platform and had more than 1,200 attendees.
The price momentum continued into the following month as it reached $0.033 on 10 March. Gala announced a partnership with the Polygon network in March. Gala was working with Polygon to ease the gas fees gamers had to pay. It also announced it was partnering with Polygon to develop a new game, but there were few details about it in the announcement.
Over the next months, the GALA price started dropping and by 22 June it had fallen to $0.006. The coin did spike again in July and August, but it only recently started making significant gains.
September saw one of GALA’s largest price surges, which accompanied news of the coin listing on the major exchanges. On 13 September, Binance announced users could trade with GALA. It revealed four different pairs for the coin, including Bitcoin, Binance Coin, Binance USD, and Tether. GALA reached a new record price on the day of the listing, hitting $0.04.
Three days later, the Bibox exchange also announced it was listing GALA. Unlike Binance, it only listed one pair, which was with Tether. The price spiked again and surged to $0.10.
Gala Games also has an NFT project called VOX, where users can buy avatars with different traits. New VOX avatars were revealed on 27 November that were inspired by another upcoming game called Mirandus. Players owning one of these new avatars also became eligible for daily rewards in Town Star.
This generated a lot of excitement around Gala Games and its token saw the highest price surge so far. GALA climbed from $0.11 on 16 November to $0.84 on 26 November, the current all-time high.
Newer games and more support in 2022
GALA has been consistently adding support for new projects in the gaming community, including the upcoming launch of Spider Tanks and Legends Reborn.
Staying as far ahead of the competition as possible in a rapidly developing pay-to-earn industry, GALA has introduced land and revenue sales to keep its play-to-earn subscriber base active and growing. On 27 January 2022, Gala announced a new partnership with Mind Monsters Games to bring Betwixt – The Story of You to its ecosystem. The game will receive $1m (£735,000) in funding from the Gala Games Conservatorship fund.
On 8 February, GALA firmly established itself in the NFT space by confirming that it will allocate $5bn to further its NFT ambitions this year, split between gaming, music, movies and theme park NFTs.
Additionally, on 13 February, Gala Games launched its first fully generative and reactive NFT series, The Orbs, created by the composer and musical technologist BT.
Gala also launched the sale of rapper Snoop Dogg’s NFT tracks from Bacc on Death Row. The American rapper recently launched 25,000 Stash Box NFTs on the Gala Games platform, selling for $45m in just six days.
Gala Games Ecosystem announced the launch of Gala’s own “game-first” blockchain on 18 February. While the final and official name of Gala’s chain is not yet determined, the network chose to call the initial stages of the launch “Project GYRI”, after the folds or ridges in the cerebral cortex of the human brain.
The game-first blockchain sparked a positive reaction from investors, and the GALA price skyrocketed on 25 February by 20%, to a current valuation of $0.25.
“Gala’s chain is the first blockchain developed by game developers specifically for the requirements faced in-game, but it also lends itself beautifully to ideas like Listen-to-Earn, Watch-to-Earn and more,” said the network.
On 7 June, Gala Games announced a partnership with Epic Games that would bring Gala Games’s Grit, described as “the first-ever Web 3.0 and NFT game”, to its Epic Games Store. On that day, it was trading at $0.08284, up by 5% from the previous 24 hours. Gala has also been touting its recent three-day Galaverse event in Malta.
GALA price prediction
The GALA price prediction from analysts and algorithm-based forecasts predict a gradual upward trend for the coin.
At the time of writing, PricePrediction.net says it will reach a maximum trading price of $0.096 in 2022. The price of one GALA is expected to reach a minimum level of $0.12 in 2023, $0.19 in 2024 and a minimum price of $0.27 in 2025.
WalletInvestor says GALA is an “awesome” long-term investment, and its forecast is a little more optimistic in the long term than PricePrediction. The site’s maximum average price prediction for 2022 is for the coin to reach almost $0.153 by the end of December. At the time of writing, its GALA crypto price prediction says it will reach around $0.233 in one year’s time and up to $0.936 in five years. Its GALA coin price prediction for 2025 is for the coin to be $0.682 by the end of the year.
The DigitalCoinPrice GALA price prediction is slightly less optimistic than WalletInvestor. It says GALA will average out at $0.0687 in December 2022. The average value for 2025 will be $0.11, while the site thinks GALA will reach $0.22 in 2029.
Data published by TechNewsLeader makes a GALA coin price prediction for 2022, stating that GALA “may cross $0.12 if the market sees a good bull run in 2022”. It added: “Given that it is expected to be held by long-term investors, its average price for 2022 will be around $0.10.” The GALA coin price prediction for 2030 is a maximum price of $2.57, and a minimum price level of $2.08.
Is GALA a long term investment?
It might be. GALA was on a bullish trend in 2021 and set an all-time high of $0.84 on 26 November. The consensus from price predictions is that this gradual increase will continue.
Will GALA go up?
It could. The general consensus from the forecast sites suggests an upward trajectory. However, price predictions can be wrong – so never invest more than you can afford to lose.
Hope this article can provide you with a better understanding about GALA price prediction. Is GALA a long term investment? You must have founde the answer.
