Just-In: Gala Games (GALA) To Invest $5B For NFT Expansion Efforts

By Ashish Kumar
February 8, 2022 Updated February 8, 2022
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In a big bid to expand the NFT ecosystem, Blockchain gaming studio Gala Games (GALA) on Monday confirmed that it will invest $5 Billion within the next year. As per reports, the gaming studio will begin investing capital in movies, music, and theme park NFTs. However, Gala Games’ President of Blockchain Jason Brink confirmed the numbers later.

Gala Games to invest $5 Billion

It is expected that out of $5 billion, $2 billion will go into gaming, $1 billion will be allocated for the studio’s music ambitions as well as $1 billion will go for movies. Meanwhile, Gala theme park NFTs will bag the remaining $1 billion.

This big move comes after marketplace value for NFT hit a staggering $41 billion by the end of 2021. Asking about the recent developments, Jason Brink in a statement said that

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

However, he denied commenting further on details and future plans and said that his studio needed to save “some stuff for the Gala Gold community.” As per reports, it is expected that Snoop Dogg may release an “NFT album” on their platforms just shortly before it can be streamed elsewhere.

GALA Price up by 65% in last 7 days

Gala Games has grown immensely since its launch in 2019. It has sold over 26,000 NFTs with the most expensive piece valued at $3 million. As reported by CoinGape Markets, the GALA price has almost doubled in last 3-4 days and has broken some significant resistances.

TradingView Chart

GALA has gained more than 65% in the last 7 days. Meanwhile, GALA is trading at $0.34 down by 7.5% in the last 24 hours. It managed to break into the top 50 coins with a market cap of  $2,373,869,279.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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