Introduction
Gala Games is a cool web3 gaming platform built on its own blockchain, where players can earn GALA coins or NFTs just by completing in-game tasks, joining competitions, and even trading and selling game assets. The big thing about Gala is that it promises players true ownership of their assets, which is something you don’t really get with regular gaming platforms.
But here’s the real question: how safe is it to store your assets on Gala Games?
Is Gala Games Really Secure?
To be completely honest, Gala Games has had its fair share of security issues. In fact, it’s been hacked several times. The most recent one was pretty big—about $22 million in cryptocurrency was stolen after someone broke into their system. The company tried to play it down, calling it an "incident," and said they fixed the issue. They’re even working with law enforcement to find out who was behind it.
But that’s not the only problem. There’s also some drama within the company itself. The CEO, Eric Schiermeyer, is actually suing the co-founder, Wright Thurston. Apparently, Thurston took 8.6 billion GALA tokens back in 2021 and sold them for $130 million. Schiermeyer claims he did it behind the company’s back, which obviously isn’t a good look for Gala Games. So yeah, there are definitely some security concerns that make investors nervous. But for players who are just there to enjoy the games and buy some assets with GALA coins, these issues don’t seem to get in the way of the fun.
The best gala game everyone should to play
If you’re looking for a fun game on Gala, I’d say Spider Tanks is the best pick. Whether you’re playing solo or with friends, it’s nonstop action and really engaging. Now, if you’re hoping to make money, this game isn’t going to make you rich—especially if you don’t want to invest in it. You could probably get away with spending around $10-15 a month, which is much less than what hardcore players are shelling out on skins and other in-game stuff.
What is Galaverse?
Galaverse is this big event Gala Games holds where they announce new games, drop NFTs, and offer rewards to people who bought tickets to attend. These events usually stir up a lot of excitement in the community, attracting gamers, developers, and even investors. When this happens, you might see a small boost in the GALA coin price, but don’t expect a huge spike—maybe around a 10% increase at best. It’s cool, but not game-changing in terms of price movement.
GALA Coin Halving: What Does It Mean?
Just like Bitcoin, GALA goes through a halving event every July, where the rewards for generating new coins get cut by 50%. This is supposed to help control inflation and support long-term price growth. But honestly, in the past, it hasn’t done much for the coin’s price either before or after the event. While halving might sound like a good thing for long-term holders, there are just too many other factors pushing the price down.
Price Prediction in 2024
Let’s be real—GALA’s price history is a wild ride. It shot up from just a few cents to $0.80 at one point, which was amazing, but then it came crashing down pretty fast. So what’s going to happen in 2024? I think the best-case scenario is it could test the $0.30 level again, especially if we get a strong altcoin season. But don’t get your hopes up for it hitting a new all-time high anytime soon.
On the flip side, if things go south, it could drop back to $0.015. Is that a good buying opportunity? Well, it depends on how the overall market is behaving and what GALA holders are doing. Right now, $0.015 seems like a solid support level, but if there’s another big market crash, like the one in May 2022, we could see it dip below one cent.
Final Thoughts
Gala Games is an interesting platform, especially if you’re into web3 gaming and like the idea of owning your in-game assets. But the platform has its flaws—security issues, internal drama, and a token that’s struggled to hold its value. If you’re just playing for fun, you’ll probably enjoy it. But if you’re thinking about investing in GALA, you’ll want to keep an eye on market trends and be cautious before diving in.
