Introduction
I will keep this post relatively short, but I wanted to give a quick update on the price of GALA nodes.
GALA Games and its mission of decentralization
As a short recap, GALA Games is a blockchain gaming company that is aiming to create the world's largest decentralized gaming platform.
To achieve decentralization, the gaming platform will be powered, run, governed and controlled by 50,000 nodes that will be geographically located across all four corners of the globe.
Anyone with a computer can acquire a node and this is key to the goal of decentralization.
How Much Does A Node Cost?
As of today, the cost to acquire a GALA Games Node stands at a rather hefty $18,000. However for every 100 nodes that are sold, the price will now increase by $500 (prior to the 1st October the price increase was a rather modest $100). This means that the last node (or the 50,000th node) will be sold for a whopping $95k.
Currently, circa 35,000 nodes out of the absolute finite supply of 50,000 nodes have been sold to date, and with daily sales volume of circa 100 nodes, it would not surprise me if the remaining 15,000 nodes are sold before the end of 2021.
What Are Node Operators Expected To Do?
As the platform only consists of one game*, the current requirements for nodes are to simply be online for 6 hours in a 24 hour period. However, once the platform grows, further computational power will be needed as follows;
50 GB Disk Space
4 GB Ram
2 CPU Cores
10 Megabit upload network connection
Standard machines maybe able to meet this increased computational demand, however if not, the nodes can be run on a virtual private server (VPS).
*4 more games are officially in the pipeline with launch dates expected Q4 2021 and 2022)
What Are The Rewards For Node Owners?
Currently node owners are receiving the following benefits;
400 -500 GALA* per day. As GALA is currently trading at around $0.105 this equates to a reward of $52 per day, or $1,560 per month, or $18,720 on an annual basis. Please note the price of GALA does fluctuate and over the past month has seen lows of $0.05 and highs of $0.14.
From the 5th October 2021, node owners will receive daily drops of "TownCoin" which is the native currency for the game TownStar. The exact amounts to be distributed to node owners is not yet known.
Randomly receive NFT airdrops for upcoming games on the platform. The value of these NFTS can vary between a few dollars right up to thousands of dollars.
*The GALA coin can be traded on multiple crypto exchanges such as binance or bitrue
Can I Sell My Node?
Right now it is not possible to sell your node and they can only be acquired from GALA . Having said this, once the entire 50,000 nodes have been sold, it is intended that the nodes will be converted into NFTS and can be sold on the secondary market. What will the value of these nodes be on the secondary market? Well your guess is as good as mine, but with the last node selling for $93k it should demand a large price tag.
What is GALA Chain?
GALA is an ERC-20 token and therefore runs on the Ethereum network. However, as most of the crypto readers here will be aware, the gas fees to transact on the ether network are incredibly high. Consequently, GALA are in the process of launching their very own blockchain...."GALA Chain" allowing players to transact in the GALA gaming world for a fraction of a penny. It should be noted that the GALA chain will of course be run and maintained by the 50,000 nodes.
Whilst an official launch date for the GALA chain is not known, it is expected to before the end of this year.
Interested In Learning More About A GALA Games?
If you are interested in learning more about GALA Games, their vision, the node network and their awesome games, then you can find out more here (yes I am shamelessly adding my referral link :) )
Thanks for reading!