A blockchain ecosystem for gaming, music and entertainment
Gala Games unveiled plans for their customized blockchain infrastructure to power the highly anticipated Gala Games ecosystem. Within the next few weeks, a community-wide test event will go live as the first applied use of the new chain known as Project GYRI, which will eventually become Gala’s blockchain.
The Gala Games blockchain, or Gala Chain, had been expected for some time now. The team states it is building the exact blockchain needed to power its ecosystem, with the following features, among others:
- Faster transactions
- Reduced impact on the environment
- Lower network fees
- Lower minting costs
- Interoperability throughout the Gala World
- Transferability to/from Ethereum
The founding team consists of several high-profile figures such as Eric Schiermeyer, co-founder of Zynga, Wright Thurston, one of the first significant miners in the crypto space and holder of multiple patents on blockchain technology, and Michael McCarthy, Creative Director behind hit games such as Farmville 2. Moreover, they assembled intending to serve gamers and give them a high-quality, games-first experience with blockchain ownership benefits.
The Gala Games team states that with some minor alterations and further improvements to the development of its blockchain, they can extend rewards to listeners, supporters, artists, fans, collectors, early adopters, and more as Gala expands into music and beyond. Project GYRI will test the capabilities of the Gala Games blockchain solution under stress while also educating users on the transition.
What is Project GYRI?
Until recently, this blockchain was being referred to in the community and team as “GalaChain,” but it was decided that creating a testnet would be the best way forward. Due to the fact accounts can hold money and because in-game items can be truly owned, security is of paramount importance to Gala to continue building trust.
Within the next few weeks, a community-wide test event will go live as the first applied use of Project GYRI. This temporary game will offer a demonstration of how Project GYRI will operate. Players will be able to play-to-earn a TEST token then spend their TEST on a few different in-game upgrades and bonuses. Importantly, TEST cannot be transferred or sold anywhere. There are no sales or real money involved in this test, but the Gala Games team is banking on it being fun and enlightening for everyone involved. At writing, the TBA game will be available for the entire community to test using a standard Gala Games account. The official announcement even includes a fuzzy image to tease it further.
Once bugs have been fixed and everything is completely checked in the test environment, the migration of assets will commence. Importantly, and in most cases, users will have the ability to lock assets into the Ethereum blockchain, although they won’t be as readily usable within the gaming platform.
GALA Games on the up
While cryptocurrencies such as BTC, ETH, and SOL saw some impressive price action in 2021, metaverse and gaming tokens arguably stole the show. None more so than Gala Games GALA token, which is up more than 1,300% year to date. Gala even continued to grow at the start of November last year despite an overall downturn in crypto prices. Escalating GALA into the top 75 cryptocurrencies by market cap. In mid-November, popular cryptocurrency exchange Coinbase added GALA to its list of available coins, which brought lots of exposure to retail investors.
Gala Games Play-to-Earn
Their current game Town Star is a play-to-earn game in which users develop a town to farm competitively and is effectively Gala’s flagship beta game. Players use NFT in-game items to complete daily challenges and gather TownCoin rewards. In November, Gala announced that players could buy licenses to run Town Star nodes, essentially earning extra rewards for powering part of the game. With plans to introduce a new TOWN token specific to Town Star. A second game, SpiderTanks, is also now in beta.
The much anticipated Mirandus isn’t live yet; however, Gala unveiled when and how gamers could acquire the in-game utility token Materium in December. The team hosted a playtest where owners of an Exemplar NFT, elite avatars with unique abilities, were eligible to collect an undisclosed amount of tokens. Moreover, a Mirandus Vox Dragon NFT sold for upwards of $1.48 million, making it to the top of DappRadar Top Sales charts at the end of December.
Leading play-to-earn game Axie Infinity took off when it switched proceedings to its custom Ronin sidechain and Katana DEX. Allowing players of the most popular blockchain game a way to quickly and cheaply flow in and out of the game, collect their rewards, and enjoy themselves without suffering Ethereum gas fees. It remains to be seen whether Project GYRI will have a similar effect on the GALA token price.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds ETH, BTC, AGIX, HEX, LINK, GRT, CRO, OMI, IMMUTABLE X, GALA, AVASTR, GMEE, CUBE, RADAR, FLOW, FTM, BNB, SPS, WRLD, ATOM, and ADA.