Gala Games to Airdrop Version 2 Tokens in May

The new tokens are part of an upgrade to Gala's network.

AccessTimeIconApr 18, 2023 at 9:54 a.m. UTC
Updated Apr 18, 2023 at 5:18 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

A new version of the native tokens of metaverse-focused Gala Games will be airdropped to users on May 15, developers said in a blog post on Tuesday.

The version 2 tokens will be dropped on a 1:1 basis to holders of the current gala (GALA) version 1 tokens. The v1 tokens aren't intended to hold any value following the v2 token issuance, developers said.

Gala said v2 tokens are part of a broader upgrade to the Gala smart contracts on the Ethereum blockchain. The upgrade is designed to make Gala more secure and will introduce burn mechanisms, which may make the tokens more valuable in the future.

Burns are a way of permanently deleting tokens from circulation supply by sending them to an address not controlled by anyone. Burns may provide a bullish impetus for tokens because they can lead to price increases as demand increases and supply reduces.

Gala Games is one of the largest gaming-focused crypto projects, with a market capitalization of $360 million. Users can play different types of games built on the platform, and the tokens are used as the primary medium of exchange between users.

In-game items are represented as non-fungible tokens on the Ethereum blockchain and users can trade them on marketplaces, such as OpenSea.

Gala tokens were up 10% in the past 24 hours, data from CoinGecko shows.

Edited by Sheldon Reback.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.