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Gala (GALA) Surges 60% on Big News; Here's What to Know

Mon, 01/09/2023 - 13:22
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Tomiwabold Olajide
Gala (GALA) announces big news for its film arm
Gala (GALA) Surges 60% on Big News; Here's What to Know
Cover image via stock.adobe.com

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GALA, the native token that powers Gala Games, a platform for blockchain gaming, exploded nearly 60% higher on Jan. 9 as altcoins saw an aggressive pump. At the time of writing, GALA was up 58.16% at $0.03, after reaching highs last seen at the close of October 2022.

Gala initiated a recovery from lows of $0.015 on Dec. 30, from where its price steadily rose. On Jan. 8, Gala printed a massive green daily candlestick as it surged to intraday highs of $0.04. The rise was sustained until Jan. 9 as bulls tackled the key barrier at $0.04, or the daily MA 200. A sustained breach above this barrier might target the $0.07 barrier next. Otherwise, GALA might consolidate as bulls take a breather before continuing the journey upward.

Gala up on "big news"

The official Gala Games Twitter handle has shared a little bit of information regarding the ongoing work with American actors Dwayne Johnson (a.k.a. The Rock") and Mark Wahlberg. GALA would also be the gas token used in GoGalaFilms and GoGalaMusic.

In a screenshot of a Discord conversation posted online, Gala shared its strategy for its film arm. Gala is currently working on two films with American actors Dwayne Johnson, Chris Rock and Mark Wahlberg.

The blockchain gaming company believes this is yet another great opportunity to onboard a huge number of users onto its blockchain.

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Gala (GALA) Jumps 33% in Last 24 Hours, Here Might Be 2 Reasons

It posits a likely use case of a QR code on movie tickets to redeem a digital item or a film on Netflix, and the QR code shows up as well. Integration with Gala games and music remains another very exciting prospect, it says.

GALA will also be used as a gas token in the Gala Film, which runs on the blockchain. The screenshot reads: "The millions of fans interested in the Rock or Mark Wahlberg or Ghosts of Ruin or David Bianchi’s Rzr..all will be collecting digital items. These items will be needing gas and that gas is GALA."

In a related expansion move, Jason Brink, president of blockchain at Gala Games, envisions a broadening of focus to include mobile gaming.

He wrote: "This does NOT mean a pivot away from desktop gaming. All of that is still happening...but there is a lot more happening on the mobile front as well and that will hit much sooner and I couldn't be more excited to see it all unfold."

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.