Gala Games to Launch the Pay-By-Burn Program in Q1 2023
Gala Games plans to launch the Pay–by–Burn program in Q1 2023. Users can still buy with ETH or credit cards, but all GALA used to purchase digital assets will be forfeited.
Gala Games will launch the “Pay-by-Burn” program in Q1 of 2023. When a “buy” is made on the Gala platform during the program, the GALA tokens used will be burned. Gala Games states that users can still purchase via ETH or credit card, but 100% of GALA used to buy digital assets will be forfeited.
The change will take a few more days to implement fully, and any purchases made within the Gala platform will automatically be canceled by the end of next week.
After the GALA token is destroyed, the same amount of tokens will be added to the issuance pool to be redistributed through the Founders Node in the normal distribution. This is an attempt to bring transparency and utility to the ecosystem.
As updated in the previous article, the above plan was once “hidden” by the project, so yesterday, the GALA token suddenly stirred up the market with a “crazy” increase to more than 300% from a low after a long time bottoming from a low of 0.014 – 0.015 USD to 0.05 USD in just a few days.
This quickly made investors attractive again, with the expectation of a better future coming to the project after GALA somewhat disappointed the community because it was “attacked” by pNetwork. The $5 billion NFT ecosystem development fund announced in early 2022 has so far lost contact.
Besides, this skyrocketing momentum also comes from “rumors” that the project is developing two movies with famous Hollywood actors, Dwayne Johnson and Mark Wahlberg.
However, this notice was removed after a few hours without any explanation. Some users have even reported being blocked from Discord for asking about the issue. Because of the above false information, the price of the GALA immediately reacted violently.
GALA coin has rebound partly on the back of Bitcoin’s rally and is currently trading around $0.04, but still dropped 1.21% in the past 24 hours.
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