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    GALA rockets nearly 60% after Gala Films and Dwayne ‘The Rock’ Johnson collaboration

    By Darius McQuaid

    Edited by Martyn Cornell

    12:35, 9 January 2023

    Actor Dwayne Johnson
    Dwayne Johnson and Mark Wahlberg are developing two films with Gala Games – Photo: Getty Images

    After Gala Games (GALA) ahhounced that it is working with the actors Dwayne ‘The Rock’ Johnson and Mark Wahlberg, the value of its crypto soared by almost 60% in a day. 

    By 09:30 GMT on 9 January, GALA was trading at $0.03739, up 57% compared with the previous day, according to CoinMarketCap.

    A day later, at 09:30 GMT on 10 January, the token was up another 15% at $0.04305.

    GALA to USD

    Alongside the games platform, the Gala ecosystem incudes two other additional platforms, Gala Music and Gala Films.

    Johnson, a former professional wrestler who has starred in films including Baywatch, Jumanji: Welcome to the Jungle and Black Adam, and Wahlberg, star of Three Kings, Four Brothers and 2 Guns, are partnering with Gala to develop two separate films with the ecosystem.

    BTC/USD

    98,871.70 Price
    +0.730% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 106.00

    DOGE/USD

    0.40 Price
    +2.720% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.0012872

    ADA/USD

    0.91 Price
    +13.040% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.00646

    ETH/USD

    3,362.71 Price
    +0.300% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 6.00

    In an announcement shared on Twitter, Gala Films said it was “happy to get the chance to work with” Johnson and Wahlberg and the pair were  “two absolutely huge forces in the entertainment industry”.

    GALA went on to say it believed their “presence might be even more powerful off screen” compared with on screen. Gala Films said:

    “The exciting thing for the ecosystem, though, is this is yet another huge opportunity to bring in an extremely large number of users onto our blockchain.”

    Blockchain and film

    GALA also detailed what it believes may happen in the future in regards to how the blockchain could penetrate the film industry. GALA developers said: 

    “Imagine going to a movie and there is a QR code on your ticket to redeem a digital item. Imagine again you’re watching a film on Netflix and a QR code shows up there as well. These are just some of the use cases. Integration with our games and our music is another very exciting prospect. Would you like to add Hogwarts to your VOXverse land?”

    VOXverse is Gala Games’ home for its collectible NFT (non-fungible token) avatar series, VOX,  Hogwarts is the fictional wizarding school in the Harry Potter books.

    The GALA team also announced that Gala Films will use GALA as its own gas token.

    Markets in this article

    GALA/USD
    GALA/USD
    0.03012 USD
    0.00065 +2.260%

    Related topics

    #Cryptocurrency

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    The difference between trading assets and CFDs
    The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
    You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
    CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
    CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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