Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
GALA, the native token of Gala Games, a Web3 gaming platform, unexpectedly increased 14% in early trading today. GALA was up 9.52% in the last 24 hours to $0.025 at the time of writing. The token has also gained 4.04% in the last seven days.
GALA's trading volume has increased by 204% in the previous 24 hours, with over $200 million swapped as traders capitalized on recent market volatility to profit.
The recent price increase coincides with an announcement regarding the massive potential utility of the GALA token on GalaChain.
Jason Brink, president of blockchain at Gala Games, confirmed that GALA will be the gas token for everything on GalaChain.
"Confirmation -GALA will be the gas token for everything on GalaChain... doesn't matter if we are talking about a game, a social media network, or another ecosystem like Gala Music or Gala films GALA is the gas token for GalaChain," Brink stated.
A Twitter user named "benefactor" shared updates on the progress made by Gala Games, noting that all projects on GalaChain will utilize the GALA token as gas.
Brink replied to this tweet with a confirmation. In addition, "benefactor" stated that Gala Games is releasing new games on GalaChain, with several arriving in August, such as Champions Arena, PokerGo and Get Plucked.
Tomiwabold OlajideIn a similar vein, Gala Games just announced its partnership with Elixir Games, a leading Web3 gaming distribution platform. Soon, Elixir players will be able to access various Gala Games titles through their gaming platform thanks to this collaboration. Also as part of this collaboration, Elixir will organize weekly gaming nights with exclusive prizes for Elixir partner program visitors.
In May, a new era was heralded for the Gala Games ecosystem with the launch of Gala v2, which was airdropped in a 1.1 token drop for users.
Alex Dovbnya
Arman Shirinyan
Dan Burgin
U.Today Editorial Team
Vladislav Sopov