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Gala v1
About Gala v1
Gala (GALA) is a cryptocurrency token created for the Gala Games ecosystem, which was founded by Zynga co-founder Eric Schiermeyer and others in 2019. The platform focuses on combining gaming with blockchain technology to empower players with more control and ownership in games. GALA serves various roles within the ecosystem, such as purchasing NFTs, rewarding node operators, and acting as a gas token. The token's emission is split between node operators and the Gala Games conservatorship, with a halving schedule impacting its daily emission.
Gala (GALA) is the native cryptocurrency token for the Gala Games ecosystem, which operates on the Ethereum blockchain. Gala Games was founded in 2019 by Eric Schiermeyer, a co-founder of Zynga, and other professionals from the gaming and blockchain sectors. Gala Games is a platform that combines gaming with blockchain technology, aiming to give players more control and ownership in games through the use of Web3 and blockchain tech. It offers a variety of Web3 games, including many with well-known intellectual properties, in different stages of development or already released.
GALA is primarily used within the Gala Games ecosystem. It functions as the core utility token for various purposes: purchasing Non-Fungible Token (NFT) items, rewarding Founder’s Node operators for their participation, and serving as the gas token for network fees on Gala's blockchain. The daily emission of GALA is distributed 50% to Founder’s Node operators and 50% to the Gala Games conservatorship for future ecosystem growth and/or project funding. Additionally, when GALA is spent on NFTs in the Gala Games store, it is burned, and an equal amount is added back to the lifetime distribution pool.