Gala

Halal Rating :
Comfortable
Last Price $0.04 Last updated:
Rank 73
1D Change 5.62 %
Market Cap $1.44b
Circulating supply 36,663,609,900
Maximum supply None

Crypto Overview

Categories
  • Collectibles & NFTs
  • Gaming
  • BNB Smart Chain
  • Polygon Ecosystem
  • Play To Earn

Purpose and Utility

GALA is the native token of the Gala Games ecosystem, designed to power a blockchain gaming platform. The token serves multiple purposes including governance of the Gala Games ecosystem, node operation rewards, and in-game purchases across various games in the platform.

Business Model Analysis

The platform operates by developing and publishing blockchain games where players can truly own their in-game assets as NFTs. The business model centers around creating engaging games while maintaining player ownership of assets, which aligns with Islamic principles of ownership and fair trade.

Real-World Adoption

Gala Games has launched several games including Town Star, Spider Tanks, and has many others in development. The ecosystem has attracted over 1.3 million monthly active users and operates thousands of nodes worldwide. The GALA token is actively used for purchasing in-game items and node operation.

Platform Development

The project shows consistent development activity with regular updates to their games and platform infrastructure. They have established partnerships with major entertainment brands and continue to expand their game offerings.

Token Distribution and Governance

The token distribution includes allocations for ecosystem development, node operators, and the founding team. While the founding team received a significant allocation, there are vesting periods in place to prevent immediate liquidation.

Additional Considerations

The primary focus on gaming and digital asset ownership aligns with halal principles as it involves actual ownership and transfer of digital assets. The platform does not involve interest-bearing mechanisms or gambling-based games.

Crypto Impact

To assign a comfort level investing in Gala from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Gala.

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