As a seasoned crypto investor with a keen interest in gaming and blockchain technology, I find the recent partnership between Gala Games and Animoca Brands an exciting development. Both entities bring valuable experience and resources to the table, which could significantly enhance the user experience of the GALA token and the broader gaming ecosystem.
Gala Games, a company specializing in Web3 and blockchain gaming, has joined forces with Animoca Brands, a leading venture capitalist and gaming firm from Hong Kong. Together, they plan to advance the creation of the GALA token. This partnership intends to improve the user experience with this alternative coin.
According to a recent social media post, Animoca Brands has been announced as the recipient of GALA tokens from Gala’s Treasury. This is intended to enable Animoca Brands to offer liquidity services for the trading of the GALA token. Additionally, the venture capital firm intends to function as a validator on the GalaChain, the native blockchain for the gaming platform, in the upcoming period.
“According to the X post, Animoca Brands currently manages nine of Gala Founder’s Nodes and intends to become a validator on the GalaChain network in the future.”
As a crypto investor, I’m excited about Animoca’s commitment to keeping the GALA token liquid and ensuring stable trading. This partnership with Mittaria’s CEO, LordBenalez, came as a surprise to many in the gaming community on X, and we’re all eagerly waiting for more information from him about this unexpected collaboration.
Gala Games gained significant attention in 2021 as part of the previous cryptocurrency market surge. The primary goal of this platform is to disrupt the multibillion-dollar gaming sector by enabling players to have complete ownership over the ecosystem.
In contrast, Animoca is recognized for its significant investments in crypto assets and gaming businesses. More recently, the company entered into a Memorandum of Understanding (MoU) with Futureverse, an innovative AI and metaverse company, for a strategic collaboration. The objective of this partnership is to expand “Futureverse’s advanced metaverse technology offerings by utilizing Animoca Brands’ extensive network of blockchain-based solutions.”
Animoca Brands has additionally invested in CARV, which is the biggest modular data foundation for gaming and artificial intelligence, and Cross The Ages (CTA), a multi-media gaming organization. (Paraphrased)
GALA Token Collapses
The value of a GALA token decreased by 5.18% over the last 24 hours. Currently, it’s being sold for $0.0261. Unfortunately, this cryptocurrency has plummeted more than 90% from its peak price of $0.8367, which it reached on November 26, 2021. Despite numerous attempts to bounce back, the digital asset remains stuck in a prolonged downtrend following its disappointing performance post-peak.
The trading volume for this token amounts to 0.32%, representing approximately $72 million in GALA transactions. Its market capitalization currently totals $837 million, ranking it 81st in the market. According to TradingView data, the token has experienced a major decline from its March 10 peak price of $0.08677.
With an RSI reading of 32, bears appear to be in the driver’s seat, but this situation also offers potential entry points and purchasing chances for investors.
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2024-07-03 13:44