Blockchain gaming studio Gala Video games has an bold aim for 2022 and it’s allocating $5 Billion to make it occur! The startup is increasing its choices to incorporate music, motion pictures and theme park NFTs. Since launching in 2020, it has attracted 1.3 million month-to-month lively customers because of its gaming titles, so this transfer marks a brand new chapter for the corporate and its supporters.
Gala Video games Past Gaming
Gala Video games’ President of Blockchain, Jason Brink, confirmed that they might be pouring in capital to new NFT segments. Out of the $5 billion allotted to Gala Sport’s NFT enlargement, $2 billion is anticipated to go to gaming. An additional $1 billion shall be earmarked for the studio’s music ambitions, in addition to $1 billion for motion pictures. Lastly, Gala theme park NFTs will decide up the remaining $1 billion.
Commenting on the large transfer, Brink mentioned:
“These had been among the numbers shared with the Gala Gold group. We definitely sit up for serving to that unfold with the group sooner or later.”
Regardless of not elaborating plans, the group rapidly picked up Brink’s photograph with iconic rapper turned NFT investor and creator Snoop Dogg. As such, there are rumors that the chart-topping musician will launch an NFT album on Gala Video games’ music platform. “As for Snoop, preserve watching and ensure to choose up his album when it comes out, whether or not it’s as an NFT or in any other case,” mentioned Brink.
Let’s Run Numbers
With a $5 Billion funds, Gala Video games has all of the means to shake issues up within the area. How did a two-year-old enterprise elevate such large capital?
GALA, Gala Video games’ token, has a totally diluted valuation of $16.73 Billion, with about 15% of its provide at the moment circulating. As well as, it carries a market capitalization of $2.52 billion, with the tokens buying and selling at $0.33 every, in accordance to CoinGecko. The token is definitely down by about 60% from its all-time excessive set on Nov. 26, 2021.
As well as, the gaming titles beneath Gala Video games’ umbrella are performing exceptionally properly. City Star, Mirandus, Spider Tanks, The Strolling Lifeless and extra had been large hits to the NFT gaming scene. As such, Gala Video games collectively offered over 26,000 NFTs. Its most costly NFT sale bagged $3 Million!
With liquidity and momentum on its aspect, the blockchain gaming studio is making daring decisions. It additionally launched a $100 million blockchain gaming fund with crypto funding agency C2 Ventures. The companions intention to spend money on recreation builders and tasks constructing atop the blockchain.
Controversies Surrounding Gala Video games
Sure, Gala Video games has the equipment for enlargement, nevertheless it has but to resolve some points round its homecourt. Just a few weeks in the past, we reported how some customers are dismayed over the growing Gala Video games Hacks and the dearth of assist. There have been additionally some questions in regards to the alleged Vox Mint points earlier than these circumstances. These are areas they should resolve and look out for. In any other case, historical past is certain to repeat itself.