Introduction
Recently I purchased a GALA games node node for just over $17,000. I can imagine most of you are scratching your heads and wondering what a GALA node is. Following a number of questions from friends, and other members of the crypto and gaming space, I thought I would write this blog to help others understand why I made this purchase.
What Is GALA Games?
Gala Games was set up by Eric Schiermeyer back in 2019, a man who already boasts an impressive track record as he is the co-founder of Zynga. GALA is a new type of gaming platform that aims to be fully owned and operated by its’ players through the power of decentralised nodes. The gaming platform aims to achieve three main goals;
Games will have their own virtual economic eco system and will allow players to monetize their in game play whilst also retaining the "free to play" and "play to earn" gaming models .
The platform aims to be decentralised and controlled in a democratic fashion by the node holders, who will be expected to vote on the direction of the platform, along with being the ones who are rewarded for the success of the gaming platform (more on this a little later).
Anything that a player earns, wins or finds in a GALA game will truly belong to that player. To expand on this point, imagine finding a super rare sword in a game of Zelda and then having the ability to actually sell it on an open marketplace? This is a revolutionary step in the gaming world where players can truly monetise their in game play for real $$$.
Ok, Tell Me About The Games On The Platform
GALA currently has 1 live game called Townstar, which is akin to Farmville. Players compete to build the best most profitable town and are rewarded in cash prizes. In addition, there are officially four games lined up in the pipeline to be launched on the GALA network, which are;
Mirandus
Mirandus is expected to be released in 2022. Set in a massive world ruled by five monarchs, Mirandus gives players complete freedom of choice, including the ability to acquire, utilize, and sell assets ranging from a humble land holding ($50) to one of five ancient citadels ($500,000). Players will have a plethora of in game choice, they can set out into the wilderness to try their fortunes against the monsters of the deep woods and dungeons, or join with one of the monarchs to serve as a knight in their court, or even set up a weapons shop in one of the five great cities of the realm. Mirandus is expected to be released in 2022.
Spider Tank
Spider Tanks is a PVP Brawler designed and developed by award-winning Netherlands based GAMEDIA. Players choose between a number of Tank Bodies and Weapons in the garage, then battle it out in one of the many Spider Tanks arena maps. Spider Tanks is free to play, but also incorporates a variety of play-to-earn mechanics, centering around skill-based competition, resource collection, and a player-driven upgrade cycle. Whether you want to play with a small group of close friends, or test your skill in high-stakes competition, Spider Tanks will be the worldwide play-to-earn esport for you. Purchase fully tradable Weapons, Tanks and Bodies in the Spider Tanks store for advantages to the upgrade cycle, rarity head starts and more. Launch date expected in Q4, 2021.
Echoes of Empire (EoE)
Echoes of Empire is an epic sci-fi strategy game set within a galaxy at war. In game, players will be able to build, upgrade, and own a fleet of epic spaceships used to control their sector of the galaxy. Players will decide to go solo or join up in massive guilds to wage combat over the scarce resources circulating the system. Once they obtain enough resources they will need to muster and master the economic centers of their Command Station where they can upgrade warships, craft new weapons, and repair their fleet. Player ownership of in-game assets is a central mechanic, and players will have the ability to own major sectors of the galactic system. EoE is set to be launched in Q2 of 2022.
Fortified
Fortified is an epic PvP Tower Defense game set in a fantastical medieval world. In game, players will be able to compete with one another to build the best tower defense strategies, utilizing everything from basic arrows and archery to the arcane arts. Compete with players on your own terms on your own land, or meet on neutral territory to battle it out to see who will take home the prize. Player ownership of assets is an important part of each part of the game, but those without land or NFTs will still be able to join and compete, potentially earning part of the prize pool! In Fortified, you set the terms of your engagement, build out your tower network, and train your NFT-based troops to attack!
What's more GALA have also announced that around 10-15 games should be fully released on the platform in the next 2 years, with further details to be announced soon.
Tell Me More About The GALA Node?
Anyone with a computer can purchase a node and all is required is a quick download of the node software. Put simply, the node will work collectively with thousands of other nodes and act as the backbone, life, soul and heart of the GALA gaming platform. As previously mentioned, nodes will be responsible for hosting the GALA server, voting on the future direction of the platform, processing transactions on the GALA games network and much more.
Furthermore, GALA nodes will be responsible for maintaining and forming the blockchain. For those who are familiar with cryptocurrency will understand the concept of blockchain technology. If you are a non crypto reader, then, in the most basic of forms, a blockchain is a public database of transactions that are linked together by the use of blocks. Blocks are verified, approved, and created in a decentralised manner. Once a block has been formed and added to the chain, it is immutable and cannot be changed or removed.
Will The Node Slow Down My Machine?
In the past, I would leave my node running throughout the day and can honestly say I did not even notice it. The caveat here is that once the GALA platform grows, computational power requirements may increase, but the financial compensation of owning a node should also increase (more on this a little later).
Currently (now that I have got a little more tech savvy), I actually run my node on a vultr vps (virtual private server) removing the need to keep my laptop on. The cost is a mere $5 a month.
Let's Move On To The Juicy Bits - What Are The Economic Benefits For Node Operators?
Daily distribution of GALA coin
Node operators enjoy a daily reward of GALA tokens providing their node is online for 6 hours a day. A fixed amount of GALA (8.5m per day) is released into circulation and distributed amongst node owners based on a points system (1 point is given for every node that achieves the 6 hours uptime in a 24 hour period). The amount that is distributed to each node operator fluctuates depending on how many nodes are online, along with other factors, but as of today, node owners receive around 500 GALA per day. GALA is currently trading at around $0.10, therefore, if we do some quick maths, the daily reward for active node operators is 500 GALA x $0.10 = $50 per day.
This daily GALA distribution will continue until the entire 50 billion GALA tokens have been released into circulation. A hopefully obvious point, but the more nodes online = a smaller amount of daily GALA per node.
In Game NFTs (Non Fungible Tokens)
Node operators can randomly be airdropped in game items such as land, shops, and weapons etc for Mirandus, or tanks and armour for Spider tanks, or for any game for that matter. These in game items will truly belong to the node holder with the ability to sell them on the secondary market such as opensea or rarible. These in game items are called NFT (non fungible tokens) and will be kept on the blockchain.
Rewards For Processing Transactions On The network
GALA are in the process of building their own blockchain (at present they use Ethereum) called "GALA chain" and at some date in the future, the node network will be responsible for processing transactions on the GALA chain (such as in game purchases by players). As a reward for processing these transactions on the network, node owners will be credited in the form of GALA.
Airdrop of In-Game Currencies
In addition to the GALA coin which will act as the bridge/global currency of the GALA world, each game will have its' own currency (e.g the Townstar game has a currency called Towncoin). Node owners will be airdropped specific in game currencies in addition to the daily GALA drop.
What Kind Of Return On Investment (ROI) can I expect?
As mentioned above, active node owners are currently earning around 500 GALA/$50 per day. At this rate, it would take 340 days to repay the node ($17,000 / $50). However, this equation is subject to two variables 1) the price of GALA against the $ and 2) the number of nodes online. Obviously the daily rewards will drop as more nodes are purchased, but the price of GALA could rise (and should rise) as the platform develops. Whilst this is a fairly healthy return in itself, this ignores the other economic benefits previously mentioned such as random NFTs drops, or rewards for processing transactions on the network, or probably the largest of all, the appreciation of the value of the node (see below).
The Node Pricing System
Currently a node can be purchased for just over $17,000 and approximately 34,000 nodes out of the finite supply of 50,000 have been sold to date. From the 1st October 201, the price of node will increase by $500 for every 100 nodes sold. As an example, nodes 34,001 to 34,100 will cost $17,500 and nodes 34,101 to 34,200 will cost $18,000 and so on and so on.
Based on this pricing mechanism, the last node will be sold for just under a whopping $100,000.
Can I Sell My Node?
At present, it is not possible to sell your node on the secondary market, nodes must be purchased from the official GALA store. However, GALA Games have stated that once the entire 50,000 nodes have been sold (remember the last node will be sold for $100k), the nodes will be converted into NFTs and can be sold on the secondary market.
What Are Your Non Financial Reasons For Purchasing A Node?
I like the idea of a gaming platform being owned, controlled, and operated by the players. The thought of being able to vote on the development of a game on a decentralised platform strongly appeals to me. What's more, the idea of genuinely owning in game assets is another gravitational pull by the GALA platform.
Final Thoughts
From a financial perspective, acquiring a node is huge financial decision with both great risks and great rewards. From a gaming perspective, I am incredibly eager to be part of a new revolution within the gaming industry, where the players of a game are the ones who truly have the power. The idea of a real world environment (such as owning land and businesses - like a weapons shop) fused with the endless imagination that is often found in these RPG games is fascinating. With the launch of Mirandus, and other games on the platform, I think GALA has a strong potential due to its' first mover advantage into unchartered territory. Nonetheless, I am completely aware that my investment is highly speculative right now, and will ultimately depend on whether GALA are a success and can captivate the mind of today's gamers.
I Want To Buy A Node, Can You Help?
If you are interested in purchasing a node, I am providing my referral link here. If you do decide to acquire a node under my referral, I will happily give you 50% of the one time referral fee (at today's rate this is worth around $300). Please note, the referral link is created upon account sign up, so please ensure you sign up using my link, or enter my referral code at the account creation page which is..... 60268690c7edd133f7131bec.
It is not possible to retrospectively apply the referral link.
Once you have acquired your node, please message me on twitter (handle chris_crypto1) or comment below with evidence that you have acquired a node licence under my referral code, and I will send you your share of the reward either in GALA or a token of your choice. (Side note- feel free to message me on twitter should you have any questions about the node - I would be more than happy to help! But please, please, please, make sure you fully understand what you are purchasing and understand that your capital is at risk. Whilst this is a rather unique opportunity, please do not think this will be a "get rich quick" scheme - it is not.
Disclaimer
None of the above should be taken as financial advice. I do own a GALA node and the cryptocurrency GALA.