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Curious about Gala and it’s native asset, GALA? You've landed in the right spot!
If you’re someone interested in non-fungible tokens (NFTs) and gaming, Gala may already be on your radar as a well-known project.
In this article, we will be going over the Gala blockchain, its native asset GALA, and explore its potential benefits.
What is Gala?
Gala is a specific type of blockchain gaming platform built on Ethereum. It allows users to play games, earn cryptocurrencies, and acquire non-fungible tokens (NFTs) all within the blockchain environment. If you're familiar with gaming platforms such as Epic Games, Origin, or Steam, Gala Games operates on a similar concept.
Gala functions as a play-to-earn (p2e) platform, offering incentives for users to continuously interact with the games. Also, Gala enables users to purchase NFTs using GALA, the native asset, which can be applied within the specific games users are playing.
The Gala platform hosts a variety of game genres, including multiplayer online battle arenas (MOBAs), role-playing games (RPGs), and much more.
What is GALA the token?
GALA, the native token of the Gala blockchain, functions as an ERC-20 utility token and fuels the blockchain network. It enables the purchasing of digital assets, including NFTs and serves as a means of exchange between participants within the Gala ecosystem.
How Does the Gala Games Blockchain Work?
Gala operates on the Ethereum blockchain, functioning through a network of decentralized computers, also referred to as gala nodes. These specialized nodes contribute processing power to the Gala platform, receiving rewards in return.
People who run nodes are responsible for protecting the platform against dishonest or harmful activities, verifying transactions, and creating GALA assets. In return for their efforts, nodes receive periodic rewards in the form of GALA tokens and exclusive NFTs.
Those who operate nodes also have the ability to influence the direction of the platform by voting on community-driven proposals. To run a Gala Node, one must obtain a Gala Node license, which can be purchased using the GALA token.
Why Are People Interested in Gala & GALA?
People have been showing interest in this asset because of how it is changing the foundation in the gaming industry. As a frontrunner in integrating blockchain into gaming, the platform currently has more than 1.3 million active users and that number is continuously growing.
If you’re looking to buy and sell GALA, you can do it with the benefits of a tax-advantaged crypto IRA at iTrustCapital!
Create an account and log-in today!
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