NFT EveningNFT Evening
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • News
      • Collectibles
      • Crypto Art
      • Blockchain games
      • Metaverse
      • Music
      • Interviews
      • Columns
    • Guides
      • Top NFT Projects
      • Top Blockchain Games
      • NFT Marketplaces and Tools
    • Learn here!
      • What is an NFT?
      • How to keep your NFTs safe
      • NFT Glossary
    • NFT Calendar
      • NFT Drops
      • NFT Conferences
      • NFT Launchpad
    • Newsletter
    NFT EveningNFT Evening
    Blockchain games

    Home » News » Blockchain games » Gala Games: $5B Allocated To Diversifying Their NFT Offerings Beyond Gaming

    Gala Games: $5B Allocated To Diversifying Their NFT Offerings Beyond Gaming

    By TheoFebruary 9, 2022Updated:February 10, 20223 Mins Read

    Blockchain gaming studio Gala Games has an ambitious goal for 2022 and it is allocating $5 Billion to make it happen! The startup is expanding its offerings to include music, movies and theme park NFTs. Since launching in 2020, it has attracted 1.3 million monthly active users thanks to its gaming titles, so this move marks a new chapter for the company and its supporters.

    Gala Games is expanding beyond Gaming
    Gala Games is expanding its reach to other segments of the NFT industry! Credit: Gala Games

    Gala Games Beyond Gaming

    Gala Games’ President of Blockchain, Jason Brink, confirmed that they would be pouring in capital to new NFT segments. Out of the $5 billion allocated to Gala Game’s NFT expansion, $2 billion is expected to go to gaming. A further $1 billion will be earmarked for the studio’s music ambitions, as well as $1 billion for movies. Lastly, Gala theme park NFTs will pick up the remaining $1 billion.

    Commenting on the big move, Brink said:

    “Those were some of the numbers shared with the Gala Gold community. We certainly look forward to helping that unfold with the community in the future.”

    Despite not elaborating plans, the community quickly picked up Brink’s photo with iconic rapper turned NFT investor and creator Snoop Dogg. As such, there are rumors that the chart-topping musician will release an NFT album on Gala Games’ music platform. “As for Snoop, keep watching and make sure to pick up his album when it comes out, whether it’s as an NFT or otherwise,” said Brink.

    Gala Games President Brink Takes a Photo with Snoop Dogg
    Will Snoop Dogg drop an NFT album in partnership with Gala Games? Credit: Twitter (@BitBenderBrink)

    Let’s Run Numbers

    With a $5 Billion budget, Gala Games has all the means to shake things up in the space. How did a two-year-old venture raise such huge capital?

    GALA, Gala Games’ token, has a fully diluted valuation of $16.73 Billion, with about 15% of its supply currently circulating. In addition, it carries a market capitalization of $2.52 billion, with the tokens trading at $0.33 each, according to CoinGecko. The token is actually down by about 60% from its all-time high set on Nov. 26, 2021.

    In addition, the gaming titles under Gala Games’ umbrella are performing exceptionally well. Town Star, Mirandus, Spider Tanks, The Walking Dead and more were huge hits to the NFT gaming scene. As such, Gala Games collectively sold over 26,000 NFTs. Its most expensive NFT sale bagged $3 Million!

    With liquidity and momentum on its side, the blockchain gaming studio is making bold choices. It also launched a $100 million blockchain gaming fund with crypto investment firm C2 Ventures. The partners aim to invest in game developers and projects building atop the blockchain.

    Controversies Surrounding Gala Games

    Yes, Gala Games has the machinery for expansion, but it has yet to resolve some issues around its homecourt. A few weeks ago, we reported how some users are dismayed over the increasing Gala Games Hacks and the lack of support. There were also some questions about the alleged Vox Mint issues before these cases. These are areas they need to resolve and look out for. Otherwise, history is bound to repeat itself.

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    Gala Games
    Previous ArticleOpenSea Stopped Responding to Victims of its Delisting Bug
    Next Article Circle of Ninjas x Polygon Studios Announce Their Partnership
    Theo
    • LinkedIn

    Theo is NFTevening co-founder. He has been in the digital marketing & Media industry for the past 7 years and is involved in several big publishing companies - Reaching 35Millions users monthly across 20 different countries. He is a nostalgic gamer, a Witcher-fan and a huge NFT-enthusiast !

    More great NFT Evening content:

    Mirandus: Crafting, Farming, and Epic Hunts Await in Gala Games’ Web3 MMORPG

    May 19, 2023

    Earn Huge Bonuses in May Mayhem With Spider Tanks

    May 8, 2023

    My Neighbor Alice Unveils Exciting 2023 Roadmap: Land Sales, Multi-Chain NFTs, and More!

    April 29, 2023
    image of three avatar fighters on a background that says 'one fight arena' for the NFT game

    Step Into the Ring With ONE Fight Arena, the NFT Game Backed by Animoca Brands

    April 27, 2023

    Mega Man and Tekken Creators Join Forces for New Web3 Platform

    April 12, 2023

    Galactix Zone: Taking NFT Gaming To Newer Heights!

    April 12, 2023

    Web3 AI Takes Over With FIFA AI League Open Beta

    April 4, 2023

    Immutable & Polygon Labs Partner to Disrupt Web3 Gaming

    March 21, 2023

    NFTevening is the biggest website for NFT news. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Put simply, we are the best place for new and experienced non-fungible token fans — making content fun & accessible

    Privacy policy
    Terms and conditions

    Article Categories
    • Blockchain games
    • Collectibles
    • Columns
    • Crypto Art
    • Guides
    • Interviews
    • Metaverse
    • Music
    • News
    • NFT Marketplaces and Tools
    • Sponsored Content
    • Top Blockchain Games
    • Top NFT Projects
    NFT Calendar
    • Today’s NFT Drops
    • Upcoming NFT Drops
    • Solana NFT Drops
    • NFT Calendar
    • NFT Calendar : Add Your NFT Event
    Get In Touch
    • Advertise (Media Kit)
    • Job Opportunities
    • About Us
    • Contact Us
    • Newsletter
    NFT Beginners Guides
    • How to Sell NFT Art
    • How to Create NFT Art
    • How to Display NFT Art
    • How To Make Passive Income With NFTs
    • Best Crypto Wallet
    • Best NFT Coins
    • Best NFT Rarity Tools
    • What is a DAO ?
    • What Are Crypto Gas Fees ?

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version