We are excited to share that Gala Games, a blockchain games startup founded by Zynga cofounder Eric Schiermeyer, has joined the Polyient Games Ecosystem.
As part of Gala Games’ entrance into the PG Ecosystem, Polyient Games has made a $100K purchase of GALA tokens to support Gala Games’ token economy and build out liquidity pools for GALA within the Polyient DEX.
Background on Gala Games and GALA
Gala Games is bringing a new level of professionalism to the blockchain gaming space with a particular focus on quality gaming experiences. This approach is ultimately designed to benefit creators and gamers alike.
The startup currently has two titles under development:
- Townstar: Farmville-style casual game with a blockchain twist. Currently available to play.
- Mirandus: Fantasy RPG set in a massive world ruled by five player-monarchs. The game features a cutting edge approach to in-game economies and blockchain integration designed for real-world adoption. Alpha testing of the title is set for 2021.
The Gala Games platform is fueled by the GALA token, the native utility token used as the medium of exchange between participants in the Gala Games ecosystem, and earned as a reward for the operation of a Gala Game Node.
Beyond its own in-house game development, spearheaded by Michael McCarthy, the former Creative Director of Farmville 2, Gala Games plans to expand its platform and token economy to third-party titles, further embedding GALA into the framework of the blockchain gaming industry.
“We have an incredibly busy first quarter ahead of us, and I am confident that our deepening partnership with Polyient Games will give an ever-widening number of gamers access to the Gala Games ecosystem,” said Jason Brink, Gala Games CMO and Head of Ecosystem Development. “We hit over 120,000 monthly active users in December, and I am confident we will greatly exceed that by the end of Q1, 2021.”
Polyient Games plans to work with Gala Games to facilitate adoption of their platform, in addition to supporting unique tokenomic innovations around core in-game assets and experiences.
DEX Market Details
GALA will be coming to the Polyient DEX via a swap market with Polyient Games Unity Token (PGU), the new fungible token that will function to standardize liquidity for the entire NFT asset class across all blockchain networks.
PGU is distributed to both Polyient DEX LP providers and holders of PGFKs. More details can be found here.
Liquidity providers for the GALA-PGU pool will be eligible to earn PGU rewards with each emissions event. Both Polyient Games and Gala Games will also be working on additional incentive structures to provide farming and NFT experiences for users who participate in the GALA token economy within the Polyient Games Ecosystem.
A proposal to add the GALA-PGU market to the Polyient DEX is now available. This vote will run through 8 am PST on 12/29. If the proposal passes, the market will launch shortly after.
Once the market is live, liquidity providers will immediately become eligible for PGU rewards, which are distributed via emission events at specific timepoints.
Polyient Capital Purchase
Polyient Capital, the asset management arm of Polyient, has entered into a $100K position in GALA token, with plans for additional purchases in the coming months. These tokens are destined to provide liquidity for the GALA-PGU market on the Polyient DEX, in addition to other DeFi activities to further expand the GALA token economy within the Polyient Games Ecosystem.
“The team behind Gala Games has a well-established track record of success and is responsible for some of the most popular games in history,” said Eric Kapfhammer, Polyient COO and Head of Polyient Capital. “Our initial investment highlights our excitement around Gala Games approach to blockchain gaming and the road ahead.”
About Polyient Games
Polyient Games, a subsidiary of investment group Polyient, is a unique investment ecosystem focused on the NFT and decentralized finance (DeFi) markets. Polyient’s portfolio includes leading NFT startups such as Nonfungible.com, Blockade Games, and Cargo.