Gala Games to Pour $5B Into Its NFT Expansion Plans

Gala Games is allocating $5 billion to strengthening its NFT presence within the next year.
Image source: Gala Games

Quick take:

  • The capital will be split between gaming, music, movies and theme park NFTs.
  • An anonymous source revealed that Snoop Dogg may release an NFT album on Gala’s platform.
  • GALA token hit a 117% high yesterday after a low on Feb 2.

Las Vegas-based blockchain gaming platform Gala Games has announced that it will be allocating $5 billion to ramp up its NFT efforts within the next year.

Gala Games’ President of Blockchain, Jason Brink, confirmed the figure. Out of the $5 billion, $2 billion will go to gaming, while the rest will be divided equally into music, movies and theme park NFTs allocated with $1 billion each. 

Brink is keeping further details under wraps, saying that he’s saving them for the Gala Gold community. 

An anonymous source close to Gala Games told Blockwork that rapper Snoop Dogg may release an NFT album on the platform before it’s released elsewhere. Brink dropped a subtle hint, saying: 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.”

The rapper has been an avid NFT collector since last year, tweeting about NFTs under the pseudonym Cozomo de’ Medici. He holds over 600 NFTs including blue-chip projects like Bored Ape Yacht Club, CryptoPunks, and more.

In December, Gala Games announced the launch of a $100 million blockchain gaming fund to invest in game developers and emerging projects building with blockchain technology.

The success of Gala can be partially attributed to the launch of new games like the upcoming Spidertanks and Legends Reborn, new partnerships with crypto art community 888innercircle and mental-health focused gaming app Betwixt, and its increasing popularity.

Gala has seen a steady increase in users since December 2021. As of today, the total number of users on Gala is 122,679, almost double from 67,031 on Dec 1.

Currently, Gala’s native token, GALA, has a market capitalisation of $2.37 billion and a fully diluted market cap of almost $12 billion. The token gained 117% from its low of $0.177 on Feb 2 to a high of $0.384 yesterday, before tumbling to $0.257 today. 

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