Gala Games (GALA) was the sole token among play to earn cryptocurrencies to rise on Wednesday. Play to earn tokens were somewhat depressed after Bitcoin (BTC) slid under $50,000 in the past days and Ethereum (ETH) retreated to $3,800.
GALA survived the sell-off, trading at $0.50, achieving 7% growth overnight. GALA remains a top token among play to earn games, retaining most of the gains achieved in 2021. The asset still has a low per-unit price just months ahead of another game launch.
What Gave GALA a Boost
Gala Games got a boost from two recent partnerships. For its future development, GoGalaGames, the organization behind a new gaming model, partnered with C2 Ventures to build a $100M fund for game investments.
“This event for our community has ushered in the new blockchain generation of gaming,” said Eric Schiermeyer, co-founder of Zynga and now CEO of Gala Games.
“We brought together the biggest names and franchises in the industry to present our vision for the future. We are focused on building gaming titles that fans will want to play if we are going to take blockchain gaming truly forward. This is just the beginning as we look to develop the Galaverse experience around the globe.”
Gala Games is also partnering with The Walking Dead game brand to reimagine the world of gaming.
Gala Games has started with Town Stars and has another battle arena game in the pipeline, expecting a launch in early 2022.
GALA Unaffected by Coinbase Glitch
The GALA market price remains relatively stable, just below this week’s peak at $0.60. GALA was not affected by a short-term problem on Coinbase, which displayed over the top asset valuations.
Coinbase users and Coinmarketcap data displayed higher prices for 30 minutes to an hour, with no real effect on order books.
GALA is one of the few play to earn assets with Coinbase access, potentially opening its gaming market to US-based players and traders. GALA has a relatively recent Binance exchange pair and the markets are still growing their liquidity with the potential for higher valuations.