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Gala Games sets aside $5 billion to fund its NFT expansion efforts By BTC Peers

by Mike Robinson

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Gala Games set aside $5 Billion to finance its NFT expansion plans

Gala Games, the blockchain gaming platform Gala Games announced Monday it will allocate $5 billion for its NFT ambitions over the coming year.

A startup based out of Las Vegas is trying to increase its NFT market presence through investments in music, movies and the theme parks NFTs. Gaming is likely to receive $2 billion. $1 billion will be dedicated to the studio’s music ambitions, as well as $1 billion for movies. $1 billion more will be dedicated to the Gala NFTs.

Gala Games’ President of Blockchain Jason Brink confirmed the figure, stating 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.” Brink was reluctant to share details of the future plan, insisting that his studio needed to save “some stuff for the Gala Gold community.”

Gala Games and crypto-investment firm C2 Ventures have teamed up to create a $100m blockchain gaming fund. This fund will invest in developers of games as well as projects that build upon blockchain technology.

According to CoinGecko, the platform’s native token, GALA, currently has a market capitalization of $2.52 billion, with a fully diluted valuation of $16.73 billion. GALA currently trades at $0.33 per token and is about 60% below its peak on November 26, 2021.

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