The Gala Ecosystem, powered by the revolutionary GalaChain, stands at the forefront of blockchain innovation, offering a versatile and secure platform for gaming, entertainment, and beyond. While building the blockchain infrastructure of our core entertainment brands of Gala Games, Gala Music and Gala Film, our team of web3 experts built something that was way beyond entertainment.
GalaChain is a developer-first blockchain that is fast, scalable and extremely easy to use. With the recently revealed and Typescript integrated GalaChain SDK, we now have tons of aspiring web3 enthusiasts making plans to build on our blockchain. This is why we couldn’t help hosting a massive GALAthon hackathon event during GDC 2024. We wanted to be where the innovators were, right in the thick of it with $1M in prizes for brilliant developers.
A pivotal element underpinning this dynamic ecosystem is the $GALA token, designed with a strategic tokenomics model to foster growth, sustainability, and community empowerment. This blog delves into the intricate tokenomics of $GALA as detailed in the Gala Ecosystem Blueprint, elucidating its operational framework, supply dynamics, and its pivotal role within the Gala Ecosystem.
The Essence of $GALA
$GALA serves as the foundational utility token within the expansive Gala Ecosystem, facilitating seamless payment, settlement, and incentivization among participants. Operating under a Gnosis multisig safe for enhanced security and governance, $GALA upholds the highest standards of operational security and regulatory compliance, distinguishing itself as a beacon of trust and reliability in the blockchain realm.
Genesis and Distribution
The genesis of $GALA tokens is intrinsically linked to the operation of Gala Games Founder’s Nodes, marking a departure from conventional ICO-founded projects. This innovative reward mechanism ensures a fair and equitable distribution, with a 50:50 split between Founder’s Node Operators and the Gala Conservatorial Entity. This structure not only incentivizes the maintenance and growth of the ecosystem but also lays the groundwork for its future decentralization.
Supply Dynamics
$GALA is capped at a maximum total supply of 50 billion tokens, with a daily emission rate that is dynamically adjusted based on the circulating supply. This responsive supply system is designed to balance ecosystem rewards with a mechanism that exerts a downward pressure on the total token quantity in circulation, ensuring long-term sustainability and value.
Token Burns and Supply Types
A significant aspect of $GALA’s tokenomics is its approach to token burns, which do not affect the maxSupply but impact the totalSupply, thereby refining the economic model of the ecosystem. Understanding the distinctions between maxSupply, totalSupply, and circulatingSupply is crucial for grasping the full scope of $GALA’s tokenomics strategy.
Emission Tranches and Decentralization
$GALA’s emission tranches are carefully structured to align with milestones in the totalSupply, facilitating automatic halving events that modulate the emission rate based on demand. This approach underscores Gala’s commitment to decentralization and community-driven growth, empowering Founder’s Nodes operators to shape the ecosystem’s future.
A Visionary Framework for the Future
The $GALA tokenomics model is more than just a mechanism for distribution and reward; it’s a visionary framework designed to propel the Gala Ecosystem into the future. By aligning incentives with the ecosystem’s health and growth, $GALA ensures a vibrant, sustainable, and decentralized future for gaming, entertainment, and beyond. As we journey together into this exciting new era of blockchain technology, the $GALA token stands as a pillar of innovation, empowerment, and community engagement within the Gala Ecosystem.
In conclusion, the $GALA tokenomics outlined in the Gala Ecosystem Blueprint presents a robust and forward-thinking approach to managing the ecosystem’s economic model. With a clear focus on sustainability, decentralization, and community empowerment, $GALA is poised to drive the Gala Ecosystem towards unparalleled growth and innovation.
Get ready for an exciting leap forward in cinematic experiences with the launch of our much-anticipated film platform on April 14th.
RZR
We’re kicking things off with the Gala Film exclusive world premiere of the sci-fi thriller series, RZR, created by the visionary David Bianchi. At launch, RZR will be the singular title available, showcasing the first two episodes, with subsequent releases following a weekly schedule until all eight episodes have been released. While traditional streaming services are saturated in binge-watching culture, we’re aiming to recapture the magic of anticipation as you wait for each new week’s RZR episode.
A Unique Viewing Reward System
Gala Film is introducing an innovative approach to viewing: For every episode of RZR watched, viewers will be awarded a special RZR Mystery Box. Each box contains shards that viewers can assemble to unlock director cuts, offering extra exclusive content and deepening the RZR experience. This system rewards engagement and provides a tangible connection between our viewers and the content they love.
Powered by GalaChain’s DePIN
The cutting-edge technology of GalaChain is crucial to the Gala Film ecosystem’s operation. GalaChain’s Decentralized Physical Infrastructure Network (DePIN) leverages idle GPU and CPU power across the globe to deliver high-quality cinema through a decentralized content delivery network. The DePIN ensures a smooth, scalable, and secure viewing experience even as the amount of content on the platform multiplies, democratizing access to cinematic content like never before.
By hosting the video content that is distributed to viewers, Theater Node operators contribute significantly to the platform’s performance and resilience. In return, these operators will receive rewards in $FILM, the official token of Gala Film’s decentralized ecosystem. This model fosters a community-driven approach, where everyone has the opportunity to participate in and benefit from the ecosystem’s success.
More Titles on the Horizon
Gala Film is committed to expanding its library with more films and series in the coming months. Our platform is designed to empower creators and audiences alike to create a vibrant community where innovative storytelling thrives. From blockbusters to indie gems, Gala Film is a beacon for diverse and compelling cinematic experiences.
Join us on April 14th for the world premiere of RZR, blending the art of storytelling with the power of blockchain tech. Witness the future of cinema unfold, where every view counts, and every viewer is rewarded.
As we continue to unveil the panel of judges for the GalaChain Hackathon at GDC 2024, we are honored to introduce Moshe Shen – the Business Development and Partnership Director at Wintermute!
Wintermute is a leading global algorithmic trading firm and liquidity provider in digital assets. Moshe is in charge of expanding Wintermute’s footprint in Asia, where the demand for digital assets is rapidly increasing. We’re thrilled to have him as part of the judging team for the GalaChain Hackathon!
Moshe Shen: A Decade of Experience in Capital Markets with a Focus on Growth
With a solid decade of experience in financial markets and derivatives, Moshe has a deep understanding of the cryptocurrency ecosystem and the specific needs of its various participants. At Wintermute, Moshe focuses on regional growth across liquidity provision, OTC trading, and venture investments in Web3 projects, leveraging his expertise in both centralized and decentralized finance.
A Unique Lens on Innovation
Moshe’s expertise in liquidity provision and digital asset market structure offers a unique perspective on the potential applications of any new blockchain technology. His role requires a keen understanding of market dynamics, market sociology and the technological underpinnings that facilitate efficient digital transactions. This background makes him an ideal judge to view GalaChain Hackathon entries through a unique lens – one that values technical sophistication, market impact, and innovation in digital finance.
What Moshe Looks for in a Winning Entry
Given Moshe’s focus on market efficiency and liquidity, it’s likely that he’s looking out for projects that:
Enhance Market Infrastructure: Projects that aim to improve the underlying infrastructure of digital markets will stand out. Innovations that improve trading efficiency, or present effective liquidity solutions are all very close to home for Moshe.
Offer scalable infrastructure: Moshe is likely to be drawn to projects demonstrating the ability to grow and adapt to the changing needs of the market, ensuring consistent and equitable access for all participants.
Innovate in Financial Technologies: Moshe will potentially gravitate toward projects that push the boundaries of financial technology – especially those that leverage GalaChain to introduce new financial instruments or trading mechanisms.
The Future of Digital Markets with Moshe Shen
Moshe’s participation as a judge underscores the GalaChain Hackathon’s commitment to pioneering advancements in web3 and digital markets. His deep understanding of financial markets and technical aspects of algorithmic trading should guide participants toward creating projects that are not just innovative but also pragmatic and impactful to the future of digital assets.
As we gear up for this groundbreaking event, let Moshe’s contributions to the world of digital finance inspire you to envision new possibilities for blockchain technology.
This hackathon is not just a competition… it can easily be a launchpad for the next generation of financial technologies that harness the power of GalaChain! What will you build?
As the GALAthon Hackathon event at GDC 2024 is only a couple days away, anticipation around the cryptosphere is growing, not just for the innovative projects it will unveil but also for the esteemed panel of judges it has attracted. We’re pleased to announce that Nirun Fuwattananukul, CEO of Binance TH by Gulf Binance, is joining the lineup. His leadership and vision have been pivotal in expanding the impact of one of the world’s leading cryptocurrency exchanges within the Thai market and beyond.
Nirun Fuwattananukul: A Vanguard of Cryptocurrency and Blockchain
Nirun Fuwattananukul, serves as the Director – Southeast Asia at Binance, leveraging his extensive background in finance and business operations. Prior to his current role, he held notable positions at Ascend Money, McKinsey & Company, and UBS, demonstrating his expertise in strategic management and financial analysis. Nirun Fuwattananukul earned his Master of Business Administration (MBA) from INSEAD in 2014, following a comprehensive education that includes engineering studies at the National University of Singapore and professional development courses at Stanford University’s Stanford Center.
Possessing a diverse skill set encompassing Portfolio Management, Financial Modeling, Investments, Equities, and Strategy, Nirun Fuwattananukul is recognized for his valuable contributions to the industry. His leadership and insights have been instrumental in driving growth and innovation within the Southeast Asian market, reflecting his commitment to excellence and continuous professional development.
A Unique Lens on Blockchain Utility and Adoption
As a judge for the GalaChain Hackathon, Nirun Fuwattananukul’s criteria for standout projects are informed by his leadership role in Binance Thailand and his keen interest in the advancement and adoption of blockchain technology. Participants should be aware of his expectations, which include:
Identifying Exceptional Projects and Builders: Nirun is on the lookout for projects that not only showcase innovation and technical excellence but also have the potential to make a significant impact within the blockchain space. He is keen to provide support to exceptional builders and projects that demonstrate a clear vision and the ability to execute it.
Gaining Insights into the Latest Developments and Innovations: With a finger on the pulse of the GameFi sector, Nirun values entries that bring fresh perspectives and novel solutions to the table. He is particularly interested in projects that can offer insights into the latest developments and emerging trends in the GameFi space, signaling the future direction of blockchain gaming.
Investigating and Establishing Connections within the Global Web3 Gaming Ecosystem: Understanding the importance of connectivity and collaboration in the rapidly evolving web3 ecosystem, Nirun looks for projects that not only excel on their own merits but also contribute to the broader community. Entries that demonstrate an ability to forge meaningful connections and foster a sense of community within the global web3 gaming ecosystem will stand out in his evaluation.
Bridging Innovation with Impact: Nirun Fuwattananukul’s Vision
Nirun Fuwattananukul’s participation as a judge is evidence of Gala’s alignment with the broader goals of blockchain innovation—to create technologically advanced solutions that are impactful, accessible and transformative. His expertise underscores this event’s commitment to projects that embody the spirit of inclusivity, utility and scalability.
As teams are revving their engines and preparing ideas for the hackathon, they are encouraged to consider Nirun’s holistic approach to web3. This is an unparalleled opportunity to present solutions that not only push the boundaries of what’s technologically possible but also address real-world challenges to pave the way for mass adoption.
In the lineup of judges for GALAthon, the GalaChain Hackathon during GDC 2024, Danny Bilson stands out as a distinguished figure whose career covers a wide range of topics. Sitting at the intersection of academia, game development, and interactive media, Bilson is the Faculty Chair of Interactive Media and Games at the University of Southern California (USC), as well as the Director of USC Games.
Bilson brings a wealth of knowledge and insight into the evolving dynamics of game design, development and how new technologies are positioned to shape the gaming industry.
Danny Bilson: Gaming Excellence and Innovation
Danny Bilson has extensive background creating compelling narratives within games as well as fostering the next generation of game designers and developers. This gives him a totally unique perspective among the GalaChain Hackathon judging panel. His work at USC Games — a leading program dedicated to the advancement of interactive entertainment — showcases his commitment to pushing the boundaries of what games can be and pushing progress into the next generation.
Bilson’s expertise not only covers the technical and design aspects of gaming but also emphasizes storytelling, user engagement and the exploration of new tech for greater gaming experiences.
A Unique Perspective on Game Development and Web3
In evaluating hackathon entries, Bilson is likely to draw upon his vast experience in game design and education to identify projects that embody creativity, technical innovation, and overall show a deep understanding of what makes games engaging and memorable. The fun factor in a game isn’t always easy, but Bilson knows how to identify and cultivate that spark.
His perspective is invaluable in recognizing entries that not only leverage GalaChain’s capabilities but also push the envelope in terms of user experience, creativity and overall execution.
What Danny Bilson Might Look for in a Winning Entry
Given his extensive background and experience, Danny Bilson might prioritize projects that:
Showcase Innovative Design and Mechanics: Projects that introduce unique and innovative systems, leveraging GalaChain’s technology to offer new forms of interaction, and user experience.
Demonstrate Technical Excellence: Entries that are technically sound and also exhibit creative use of blockchain technology to improve aspects like individual ownership, game economies, and community-driven content.
Focus on Engagement and Community: Initiatives that emphasize creating a strong, engaged community around the project itself, increasing the ways for the community to engage with each other and drive the evolution and narrative of the project.
Inspiring the Future of Gaming with Danny Bilson
Danny Bilson’s role as a judge underscores the GalaChain Hackathon’s commitment to uncovering and nurturing groundbreaking projects that are poised to redefine the landscape of interactive entertainment. His insights will guide participants towards creating experiences that are not just technologically advanced but also nuanced, well-planned and expertly executed. Even beyond just game projects, Bilson brings a huge amount of insight to the table as a judge.
As the hackathon approaches, let Bilson’s dedication to education and innovation in gaming inspire you to envision and create projects that are bold, innovative, and capable of captivating users in new and profound ways. The opportunity to impress a figure of Bilson’s stature is not just an honor; it’s a challenge to elevate your work to the highest standards of design and development. What compelling experience will you craft?
