Major announcements and increased activity in NFT markets have pushed up the price of the GALA token in recent days, currently trading at around $0,044 per unit.
GALA, the native token of the Gala gaming ecosystem, is on the rise with recent announcements made by its developers.
On Twitter, Gala has confirmed a collaboration to develop her film projects. The film publication Variety had reported in November that The production team of “Four Down” signed a deal with entertainment company Web3, Gala Film, to produce a feature-length documentary directed by Oscar-nominated and Emmy Award-winning Steven Cantor.
Other big names in the film industry will be involved in the production, including Mark Wahlberg and Dwayne Johnson, known as “The Rock.”
The news was confirmed on Twitter by the Gala developers, who also announced the Acquisition of game developer with 20 million users Ember Entertainment.
As part of the acquisition of Ember Entertainment, Gala announced that the mobile gaming portfolio developed by the newly acquired company will become part of the Gala Games blockchain gaming ecosystem. Thus, Ember Entertainment’s “Dragon Strike” and “Meow Match,” which are available for both Apple and Android, will be integrated with the Gala blockchain and will use the GALA token for gas fees.
GALA is on the rise with recent announcements from its developers
Gala is a gaming ecosystem that wants to Unlocking the potential of blockchain in the gaming industry. Therefore, the developers of this blockchain ecosystem have reported that Titles developed by Ember Entertainment will be integrated with Gala.
Following the post on Twitter, Gala explained that the game assets of “Dragon Strike” and “Meow Match” will become digital assets within the blockchain. In addition to this, the blockchain ecosystem highlighted that Players will be able to mint NFTs and participate in weekly tournaments and competitions to Generate rewards through the Play to Earn (P2E) mechanics.
Following the announcements, the price of GALA has responded positively and has skyrocketed on the market. According to data from CoinMarketCap, In the last week the price of GALA has increased by 142%, reaching $0,044 per token at the time of writing.
Source: CoinMarketCap
At this price, GALA has returned to its two-month highs, making it this week's winning cryptocurrency.
GALA’s current market cap is $299 million, but its trading volume, which has grown by 31% this week, exceeds $41.360 billion.
What is Gala?
Gala is a blockchain protocol that has been created to empower the gaming community through new technologies and Web3. Its main objective is to give control and power back to players so that they can own their own gaming experiences, so that they can monetize them and create new communities around them.
This ecosystem has also developed a Web3 solution for music, film and TV, called Gala Film, which seeks to boost the creative and artistic work of emerging artists and fans.
Other cryptocurrencies are also gaining in value
In addition to the Gala token (GALA), other cryptocurrencies on the market have also seen significant growth in the past week, such as Lido (LDO), Zilliqa (ZIL), Solana (SOL) and Aptos (APT), whose prices have increased by between 43% and 60%.
Metaverse and NFT tokens such as Decentraland (MANA), The Sandbox (SAND), Apecoin (APE), Immutable X (IMX), and Chiliz (CHZ) have surged over 20% in the past 7 days.
Finally, Bitcoin (BTC) and Ethereum (ETH), the main cryptocurrencies in the market by capitalization, have risen between 3% and 9%, respectively.
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