GALA, the namesake token for Gala Games, has risen 20% in the previous 24 hours, outperforming both other Metaverse majors and Meta’s stock.
Gala Games announced intentions to invest $5 billion over the next year to expand its NFT products by acquiring IP rights and constructing a theme park. According to reports, Gala plans to spend $2 billion on gaming, $1 billion on film, $1 billion on music, and the remaining $1 billion on a theme park.
Snoop Dogg has secured a promotional contract with Gala to make prize boxes to promote his new album, B.O.D.R. (Bacc on Death Row). Each loot box featured early access to one of B.O.D.R.’s 17 tracks, with 1,470 NFTs created for each song. The NFTs does not grant any kind of intellectual property rights.
Gala also announced another Galaverse festival for June in Copenhagen on Tuesday. The previous Galaverse event, staged in Las Vegas in December, was one of the first large concerts to take place post-Covid. Gala Games has also just formed a $100 million blockchain gaming fund in collaboration with crypto investment firm C2 Ventures, with a focus on investing in-game creators and businesses built on the blockchain.
Other majors in the metaverse, such as MANA and SAND, also saw gains. According to Coinmarketcap, Decentraland’s MANA coin was up 11% on the day, while SAND was up 7%. According to talk on Discord channels, the crypto-heavy Super Bowl commercial selection was touted as a cause for the rise.
NFTs are one-of-a-kind crypto assets that provide evidence of validity and ownership. They may be traded on markets such as OpenSea and LooksRare. By the end of 2021, the market value of NFTs will have risen to a whopping $41 billion.
Current Price Movement – GALA
Currently, Its current price is substantially lower than its all-time high of $0.82. According to CoinGecko, the platform’s token, GALA, now has a market capitalization of $2.36 billion and a fully diluted valuation of $11.94 billion, selling at a price of $0.339 per token, down roughly 60% from its all-time high set on Nov. 26, 2021. Today’s pricing has climbed by over 20%. It is ranked 50th on coinmarketcap and has a 0.12 percent market domination. In the last 24 hours, trade volume has surged by about 107.25 percent.
