Is Gala Crypto a Good Investment? Price Prediction 2024,2025
If you are reading this article, then the odds are you have come across Gala Games and are either considering investing in the project's native token $GALA, or are simply interested in learning more.
The good news is that we have you covered with our all encompassing guide, and will provide a digestible overview of the Gala platform, what it does and why it is valuable, and ultimately, whether $GALA is a good investment decision based on our findings.
In this blog post we'll discuss:
- What is Gala Games?
- What makes Gala Games a Unique Project?
- Gala Games Controversies
- Gala Games Upcoming Plans
- Gala Crypto Price Prediction 2024, 2025
- Is Gala Crypto a Good Investment?
- Where to Buy Gala Games Crypto
Let's dive right in!
What is Gala Games?
Gala Games is one of the preeminent Web3 gaming platforms that is using blockchain technology to revolutionise the gaming industry.
Gala Game's primary mission is to grant players genuine ownership of in-game assets through NFTs, and to also reward them with attractive utilities and rewards for the purpose of enhancing their overall gaming experience.
It's important to note that Gala Game's decentralised utilities and rewards also extends to the film and music industry, which means that rather than just a gaming platform, Gala Games is also a user-driven entertainment platform.
Who is the team behind Gala Games?
The Gala Games team is spearheaded by Eric Schiermeyer, who is the former co-founder of Zynga which was the parent company of hugely successful gaming hits like FarmVille. Furthermore, the team is also made up of gaming industry veterans who were behind iconic titles such as Command and Conquer, Doom, Unreal, and Halo; to name a few.
So without a doubt, the combined expertise of the Gala Games team makes them one of the most experienced and accredited within the blockchain gaming and entertainment industry.
What is GALA token used for?
The $GALA token is what powers the Gala Games ecosystem, and serves as the primary facilitator for transactions, governance and rewards. It allows users to purchase in-game assets as NFTs, and licenses for operating nodes; such as the Founder's Nodes, which play a crucial role in maintaining the network.
As a utility token, $GALA also functions as a network fee on GalaChain (built on Hyperledger Fabric), ensuring seamless transactions across multiple blockchains like Ethereum. What's interesting is that despite its well-rounded utility, $GALA has no inherent ownership or profit rights, which makes it much more unique compared to most traditional securities.
Beyond gaming, Gala Games also has other native tokens such as $FILM and $MUSIC, which are integral to Gala’s broader entertainment operations; including facilitating transactions within Gala's music and film platforms.
Total unlock progress
Below is $GALA's current token unlock, burn progress and allocation according to data by TokenUnlocks:
Total locked - 1.46b
Unlocked - 11.02b
Untracked - 37.52b
Burn per day - $55.71k (for 365 days starting from 21 July 24)
Allocations - 22.00b (50%) to Gala Games Conservatorship & 22.00b (50%) to Founder's Node Operators.
Gala Games historical price performance
Below are details regarding $GALA price history:
The current price of $GALA (at this time of writing) - $0.02167
$GALA All-time high (Nov 26, 2021) - $0.8367 (-97.42%)
$GALA performance YTD (Year to date) - +12.49%
$GALA performance all-time - +1410.85%
What makes Gala Games a Unique Project?
What differentiates Gala Games from other blockchain gaming projects is its unique blend of industry-leading gaming expertise, expansion into other realms, and innovative blockchain technology.
Unlike many other crypto gaming projects, Gala is run by industry veterans with proven experience at the highest level of mainstream gaming, and they have the hits to validate this. This, in theory, means that Gala will have a comparative advantage when it comes to building successful games and knowing how to navigate the world of mainstream gaming, something many crypto games studios have struggled to do.
Beyond gaming, Gala Games also separates itself from the pack through its expansion into the broader entertainment industry, with initiatives like Gala Film and Gala Music. This diversification not only broadens the platform's appeal but also provides (in theory) additional revenue streams and potential growth opportunities.
Last but not least, the platform is powered by its own Layer-1 blockchain, GalaChain, which also acts as an enterprise solution for the gaming and entertainment industry. GalaChain purports to have unlimited transactional throughput through "Horizontal Scaling", have a transactional finality of just 2 seconds, and runs on a "Proof of Authority" consensus mechanism.
Notable Partnerships
With regards to recent partnerships, Gala Games has secured strategic partnerships with the following:
EMERGE Group (16/04/24): Gala Games announced a partnership with Singapore-based EMERGE Group, which is a leading commercialisation partner and Web3 game publishing company who are experts in facilitating connections between brands and the global esports/gaming community. This partnership aims to bring new game development studios to GalaChain, expanding the Gala Games ecosystem and empowering gamers with Web3 tech.
Animoca Brands (02/07/24): Announced in July, the partnership with Animoca Brands focuses on liquidity provisioning services for the $GALA token (Animoca will receive ¢GALA tokens from Gala's treasury), and aims to improve the overall token experience. Animoca Brands also plans to become a GalaChain validator (already being an operator of 9 Gala Founder's nodes).
DWF Labs (09/11/23): This partnership with DWF labs late last year focused on expanding the GalaChain ecosystem and reaching new investors and developers. DWF Labs is a prominent digital asset market maker and multistage Web3 investment firm. However, it's important to note that DWF Labs have also been accused of shady practices by notable actors in the crypto space, raising questions about the value of this partnership.
Gala Games Controversies
An important part of crypto investing is to be aware of everything that is going on with a project, and this also includes past and recent controversies. Whilst having had some positive updates, the Gala Games team are sadly not without their own share of controversies.
One of the most significant controversies involves allegations of a $130 million theft by Gala Games co-founder, Wright Thurston, which has sparked a high-stakes legal battle between the accused and Gala's other co-founder Eric Schiermeyer. This incident has shaken confidence among some investors, and raised questions about internal governance and security practices within the organisation.
Gala Games has also faced accusations from GaMedia (the developer of Spider Tanks) of unfulfilled promises, unwillingness to cooperate, bullying and failed revenue payments. This has raised questions of Gala’s conduct with its partners; casting a shadow over future collaborations.
Another notable controversy occurred when Gala Games released a tweet in early 2023 stating that they had secured a partnership with Dwayne "The Rock" Johnson, causing the $GALA token to skyrocket by 70%. However, the delete was shortly deleted due to Gala Games admitting an error on their side. This raised concerns about the communication strategies and the potential volatility that can arise from misinformation.
But perhaps most worrying was the significant security breach in 2023, which drained $200 million from Gala Games. This highlighted fragilities in Gala's infrastructure, and raised concerns about GalaChain's security.
Gala Games Upcoming Plans
In terms of Gala Games' upcoming plans, there doesn't seem to be anything groundbreaking planned.
According to a Gala Game's blog post, the project is excited about developments and updates to their notable blockchain-based MMORPG Mirandus, which appears to revolve around refining the core set of gameplay mechanics, engineering analytics identifying main weaknesses and priorities, and having a workable system in place for all basic crafting recipes; including art and gameplay integrations.
However, it is important to note that Mirandus has received a lot of backlash from users for different reasons, meaning any new updates will have to be monumental in order to make a difference. This does not appear to be the case.
There are also planned developments for GalaChain, and according to the Gala Ecosystem Blueprint, in Q3 there will be developments with the Node Workload Development SDK, which will enable the creation of game-specific and activity-specific nodes, while the Chaincode Template Bounty Program will encourage innovation among community developers.
During this period, GalaChain also plans to ramp up its open-source offerings, and encourage devs to deploy their own chain code to GalaChain. Additionally, Gala will release SDKs for Android and iOS in order to expand mobile development within the ecosystem, along with an SDK for Unreal Engine for advanced game development.
In Q4, GalaChain will also be looking to bridge to other blockchains, and this is for the purpose of enhancing interoperability. The team is also planning for developers to deploy Isochains on Founder’s Nodes.
Gala Crypto Price Prediction 2024, 2025
Now the moment everyone has been waiting for — a Gala price prediction for 2024, 2025.
Right from the get go, it's important to acknowledge that no matter how much crypto investing experience or data one has, it's virtually impossible to make an infallible prediction on $GALA's price for 2024 and 2025. Regardless, many crypto news outlets are still giving wild predictions, which is nothing short of irresponsible. We simply won't do this.
However, what is possible is to provide sentiment as to what we believe could happen (price-wise) based upon past and current indicators.
Based upon past price action during the latest bull run, and Gala Game's recent developments and proposed plans, there doesn't seem to be anything to indicate that the $GALA will see notable gains until the company has stabilised in terms of internal disputes, brand reputation, and has released a more concrete and exciting roadmap.
Of course, there is always the possibility that Gala could see some spikes in price due to the ever present price volatility within the crypto market. But apart from that, it is difficult to imagine a scenario in 2024, 2025 where $GALA's price could reach close to its ATH without the aforementioned improvements; and more.
Is Gala Crypto a Good Investment?
The answer to this question really depends on your motivations, risk adversity, investing timeframe and strategy.
For one, if you are a blockchain gaming, film and music enthusiast, then Gala Games is certainly an industry leader in these niches and no doubt has some very ambitious plans. For this reason, if you want to invest in Gala Games' future, making a small investment (an amount you can afford to lose) could be worth a try. Just be aware of the barriers to Gala's success, which include a struggling crypto gaming industry, multiple controversies, a lack of focus, and no future developments to write home about (as of yet).
Now, if you are thinking purely about a quick ROI, then $GALA's underwhelming price performance in recent memory (including during the latest bull run) doesn't indicate that $GALA will experience massive spikes anytime soon. Yet as previously mentioned, price movements could occur at any time due the crypto market's volatility, and all it takes is for some big news or development to create a surge in price. Either way, you should still only invest an amount you can afford to lose.
So given how $GALA appears to be a longshot investment (in terms of massive growth), the safest way to invest in $GALA would be to include it as part of a low-risk diversified portfolio, where risk is spread out amongst various different cryptocurrencies. This way, you can capitalise on any spike in price in a way that is less risky than investing a significant amount in $GALA.
Where to Buy Gala Games Crypto
If you are a European crypto investors or enthusiast, and you want to invest in $GALA, then there are few places better to do so than ICONOMI, which is an FCA (Financial Conduct Authority) regulated crypto investing platform which is best known for its crypto strategies offering (which are basically expertly managed crypto portfolios which users can invest in).
Buy on ICONOMI
If you want to purchase $GALA on ICONOMI, you can do so in just a few easy steps.
All you will need is to register an account with ICONOMI, and once approved, you can easily purchase $GALA by doing the following:
- Go to Invest
- Select the Cryptocurrencies tab
- Select the asset you wish to buy (in this case, $GALA)
- Click/tap Buy
- Select euro or British pound under Fiat currencies (or the cryptocurrency you want to use)
- Enter the amount to spend or amount to receive
- Follow the on-screen instructions
And there you have it, you've now bought $GALA. You can then either leave it on the platform, or send it to a crypto wallet.
Include $GALA as part of a diversified portfolio
Alternatively, if you want to have a more risk-averse approach to investing in $GALA, then you can do one of two things:
1) Create your own crypto strategy, and allocate a small percentage to $GALA
2) Find an existing crypto strategy that has $GALA as part of its basket, and simply join the fund.
The latter is perhaps the easiest way to invest in $GALA, as you will be investing in a hands-off manner, and entrusting the investment management process to the owner of the strategy.
Conclusion
In conclusion, Gala Games is an interesting project as it is building within the intersection of blockchain technology and entertainment; particularly in gaming, film, and music. But while the platform has significant potential, it has also been marred by some controversies, and a lack of concrete focus which could potentially impact its growth trajectory.
In terms of investment advice, $GALA may be worth a buy, but as a small addition to a diversified portfolio; with ICONOMI's crypto strategies being ideal for this. However, given the current uncertainties with the project, and the volatility inherent in the crypto market, it's crucial to approach with caution, and only invest what you can afford to lose.
Whatever you choose to do, staying informed and critically assessing Gala Games' developments will be key to making an informed investment decision.
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