A naukri.com initiative
Medium
2w
117
Image Credit: Medium
What is Gala Games and How Does It Work?
- Gala Games is a blockchain-based gaming platform allowing players to earn crypto and NFTs by playing games, launched in 2019 by Eric Schiermeyer, Michael McCarthy, and Wright Thurston.
- Using Ethereum, Gala offers play-to-earn games on a decentralized network of user-owned nodes that contribute to platform security and development.
- Players can own in-game items through NFTs and trade or sell them on open markets for real money based on supply and demand.
- The GALA token is used for in-game purchases, rewards, governance voting, and can be earned by running a node on the platform.
- Backed by investors like Binance's Accelerator Fund and C2 Ventures, Gala Games aims to revolutionize player interactions and earnings in the gaming space.
- Gala Games expanded beyond gaming into music and film, providing decentralized platforms for artists to sell directly to fans.
- The Gala Node Network consists of Founder’s Nodes, Game Nodes, Player Nodes, and Film Nodes, each playing a specific role within the ecosystem.
- GalaChain, Gala Games' Layer 1 blockchain powered by Hyperledger Fabric, is fast, secure, and tailored for entertainment, with a unique consensus system for transaction finality.
- With Gala Music and Gala Film platforms, artists can tokenize their work as NFTs, earn token rewards, and maintain ownership within the Gala ecosystem.
- The GALA token serves various purposes within the Gala Games ecosystem, including rewarding node operators, governance voting, in-game purchases, and player rewards.
Read Full Article
7 Likes
For uninterrupted reading, download the app