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Gala says shooter game Superior will launch on Steam as token price crashes

By Raphael Sanis

Edited by Martyn Cornell


Updated

A magnifying glass enlarges the Gala Games name and icon
Crypto gaming publisher Gala Games has 15 titles on offer – Photo: Shutterstock

Gala Games is fighting its way through the bear market with an upcoming superhero game, though its native token, GALA, appears to have slumped in response, falling to its lowest point in the past year.

Superior, the new shooter game, will be launching on the largest digital gaming distributor Steam. Superior can now be added to players’ wishlists on the distributor after arious playtests, .

John Osvald, president of games at Gala Games, said in a statement: “Superior brings an over-the-top roguelite experience to the superhero shooter genre and offers limitless combinations for players to wield fantastic powers.”

Gala Games is a crypto gaming publisher that has already launched numerous titles. However its native token GALA crashed following the announcement about Superior. 

GALA has started recovering since falling to its 12-month low. It is up 26% over the past seven days, as of 31 October, which comes after bullish news from the publisher about its Spider Tanks game. 

Steam’s crypto stance

A partnership between Steam and Gala Games was not predictable after the distributor banned blockchain games in October 2021. Gabe Newell, co-founder of Valve, which is the company behind Steam, made the decision because of fears over security.

He said in an interview with Eurogamer: “Blockchains as a technology are a great technology, but the ways in which it has been utilised are currently all pretty sketchy. And you sort of want to stay away from that.”

Newell also cited large price swings as another reason. “Cryptocurrency volatility meant that people had no idea what price that they were actually paying. Yes, they were anchored to a cryptocurrency, but most people's wages are not in cryptocurrencies,” he said.

BTC/USD

61,769.70 Price
+1.350% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

DOGE/USD

0.15 Price
-0.470% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

BCH/USD

483.75 Price
+4.620% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

XRP/USD

0.50 Price
-0.080% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

However, Superior is a blockchain game because there are 10 different non-fungible tokens (NFTs) for gamers to purchase with the native token GALA and use in-game. Whether the Steam version of Gala Game’s new shooter will implement these tokens is unclear.

GALA’s price crash

Gala Games is currently running a giveaway for Superior NFTs, with investors able to win tokens based on social media activity.

Meanwhile, the publisher has claimed it has already received praise from the community after its various playtests. It said in a statement: “Superior is already being hailed by many Web 3.0 gamers as the most professional, AAA-caliber Web3 game they’ve ever seen.”

Despite the positive reaction, the GALA cryptocurrency has crashed. It fell from $0.037 on 18 October to a 52-week low of $0.03161 on 21 October. 

However, it has started recovering and made significant gains. As of 31 October, GALA was trading at $0.0425, up 26% in the past week.

This surge came as Gala Games revealed its long-awaited Spider Tanks title was launching on 31 October.

But GALA is struggling to keep this momentum as it is still down 7% in the past 24 hours.

Markets in this article

GALA/USD
GALA/USD
0.04191 USD
0.00109 +2.720%

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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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