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Gala Games To Boost Its NFT Business With $5 Billion Funding

By Aaron - Crypto Investor - 08-02-2022

NFT

Decentralised gaming ecosystem, Gala Games is aiming to expand its NFT collections to further establish itself within the NFT industry. In order to develop its crypto art further, the company has set aside around $5 billion to be used for future projects. The announcement came Monday as Gala Games had stated that they will be investing in their theme park NFTs as well as gaming, movies, and music. The $5 billion will reportedly be split between each of those categories to further improve the company. More specifically, the NFT department within the company will receive $1 billion out of the allocated $5 billion. Reportedly, game development will receive $2 billion, and the music as well as movies will get $1 billion each.

Gala Games is a blockchain-based gaming company that allows players to keep what they win, receive, and earn. It also doesn’t promote its decentralised blockchain technology as the company believes that players can enjoy the simple gameplay without needing to be professionals in blockchain. Gala Games also has a native crypto market investment dubbed as GALA. If players wish to purchase anything in the game, they would first have to buy GALA tokens. However, players that want to start buying GALA crypto can only get it from certain exchanges rather than through the platform. Reportedly, GALA has a diluted valuation of $16.73 billion, this valuation is in accordance to about 15% of the supply in circulation.

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