Gala Games Announces Buyback of Cryptocurrency TOWN

TOWN coin to start buying back

On the 10th, Gala Games will buy back the in-game currency “TOWN” used in the P2E game “Town Star” with the crypto asset (virtual currency) “GALA” issued by Gala, and on the same day as TOWN’s reward token announced the end of its functionality.

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#Gala CEO Eric announced a 2:1 swap between TOWN and GALA.#GalaGames Check out more in the community https://t.co/5CHCB1pXb2#Web3 #Web3 Entertainment #NFTs #blockchain games #NFT games https://t.co/evLtg6TXq7 pic.twitter.com/q3927DUoFS

— Gala Games Japan Spider Tank P&E started Tank rental system is also in operation (@GoGalaGames_JP) January 10, 2023

The TOWN buyback rate is 2 TOWN = 1 GALA (5.19 yen) (at the time of writing).

According to Gala CEO Eric Schiermeyer, the buyback of TOWN will begin on a dedicated site within the next 60 days. It is said that 180 days will be secured for the period during which TOWN can be converted (swapped) to GALA.

Abolition of TOWN

“TOWN (TOWN Coin)” is a virtual currency issued by Gala Games that conforms to the Ethereum token standard “ERC-20”. It served as an in-game utility token for Townstar.

According to an announcement made by Eric Schiermeyer on Discord, it is clearly stated that as of the 10th, the use of “Townstar” has been discontinued.

Townstar new version to launch in Q1

The announcement also revealed new information about a new version of the Townstar. The game will be playtested at the end of January and officially launched in February.

In the new version, Gala has started transitioning to a new blockchain developed independently by Gala, and by transitioning to using a server-authorized game engine called “Godot”, countermeasures against hacking acts have been strengthened, and the long-awaited browser has been closed. The game can be progressed even in this state.

In addition, the reward function will be revived, and by bridging existing game items (NFT) to Gala’s own blockchain, it will be possible to upgrade the NFT, as well as a new “decoration game”, town persistence mode, etc. , various updates will be applied in the future.

In the new version of “Town Star”, GALA becomes a common currency used in the game, and you can earn GALA as reward tokens through gameplay.

Relation:Gala Games’ P2E farm game “Town Star”, long-term development prospects, painful reforms

GALA soars on Gala Film related news

As additional related information, GALA rose 26.6% from the previous day and 165% from the previous week on the 10th for individual stocks.

It was announced that they would partner with popular Hollywood actor “The Rock” Dwayne Johnson and Mark Wahlberg to produce two films.

Relation:Altcoins Rebound Over Weekend, GALA Gains 165% YoY

It is expected that digital assets such as NFTs (non-fungible tokens) will be available as movie ticket purchase benefits. GALA will also act as a transaction fee (Gas fee) for Gala Film and Gala Music, which offer blockchain-powered immersive entertainment.

Relation:Gala Film Announces Film Production Partnership with Academy Award-nominated Production Company