Gala Games (GALA) surges 265 percent following the announcement of Binance’s listing.

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GALA’s 270 percent surge has reached a new high thanks to an exchange listing and forays into NFTs and play-to-earn gaming.

Nonfungible tokens (NFT) and play-to-earn games are two of the hottest developments in the crypto sector because each opens new avenues for drawing consumers, and the distinct nature of each niche allows participants to make wealth rather than spending money to become a member of the community.

Gala Games, a blockchain-gaming-focused business that allows players to use their unique NFT characters in gameplay, saw huge increases in its GALA token after Binance announced plans to sell the GALA token.

Data from  TradingView shows that after hitting a low of $0.021 on Sept. 12, the price of GALA catapulted 270% to an intraday high at $0.077 on Sept. 13 as its 24-hour trading volume skyrocketed.

GALA/USDT 4-hour chart. Source: TradingView

The sudden burst in trading volume and the price breakout shortly after GALA listed on Binance, a development that has historically led to rapid price movements.

GALA’s fundamentals are in its growing NFT ecosystem

The Binance listing aided GALA’s recent progress, but the project has been steadily expanding its platform and gaining traction for several months now, as the NFT sector has been booming.

See also  Nokia has announced the launch of a blockchain-powered data marketplace.

Gala Games successfully completed the inaugural sale of VOX, the project’s major NFT offering, on August 11, which sold out in less than 8 minutes despite network congestion and high gas prices.

In addition to the VOX auction, Gala Titles has released fresh updates for its popular Town Star game, and the project has teased information about upcoming games such as Spidertanks.

GALA may be attempting to follow in the footsteps of other successful play-to-earn games such as Axie Infinity, which has seen its highest priced Axies sell for 300 Ether, and Illuvium, which saw the price of its native ILV token surge from $33.30 to a high of $613 in less than three months with only a minimum viable product.

 

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