In addition to GALA, other gaming and meta-universe tokens such as decentraland (MANA), sandbox (SAND) and ultra (UOS) have also seen significant gains in recent days.
MANA is up 57% in the last 7 days, SAND is up 100% and UOS is up 77% in the same period, making them the best performing tokens on a weekly basis in CoinGecko’s rankings.
Aside from improved sentiment across the gaming and metaverse categories – often referred to as GameFi – there have been few major announcements or other news from Gala Games that could explain the token rally.
However, the GALA token was recently listed on a number of major exchanges in November, including Coinbase, FTX and Huobi. since listing on these exchanges, the token price has risen more or less vertically, with GALA today 500% higher than it was on the first day of trading on Coinbase on November 16.
4-hour chart of GALA since Coinbase’s listing.
GALA tokens allow users to participate in the governance of the game’s development and to purchase in-game items and non-forgeable tokens (NFTs) from Gala Games’ own VOX NFT series.
Currently, a simulation game called Town Star is the only playable game developed by Gala Games, with one other game currently in beta and three others in development.