GalaChain review. GalaChain is a Layer 1 blockchain designed for entertainment but ready for anything, created by Gala Games aims to power its growing entertainment ecosystem. GalaChain is built on Hyperledger Fabric (HLF) and powered by a network of founder nodes.
GalaChain was developed with a clear goal: To reliably support the requirements of Web2 games while adding Web3 features (such as ownership and rewards) and expanding its capabilities to other industries.
As a L1 blockchain, GalaChain also enables the creation of other tokens, channels, and more specialized networks of nodes, such as nodes for games like Common Ground World and Last Expedition, or Theater nodes that host decentralized movie content on the Gala Film platform.
The ecosystem of founder nodes is another cornerstone of the GalaChain architecture. Limited to just 50,000 nodes, these operators play a crucial role in giving players true ownership of their assets and content. By managing the Founder’s Node, operators help maintain a decentralized infrastructure that supports complex decentralized tasks that meet the specific needs of the project. The daily distribution of funds from these Founder’s Nodes is the only way GALA originates.
Founders Node aren’t the only way how $GALA is created. Actually it’s only 50%. Other 50% go straight to Gala’s hands.
In addition to founder nodes, many projects in the Gala ecosystem use individual nodes with specialized workloads. Gala’s network of nodes supports individual tasks and provides a unique approach to monetizing projects, bypassing the complexities of traditional ICOs and reducing centralized costs.
GalaChain allows projects to expand the network of nodes as needed, potentially eliminating the need for data centers and cloud hosting costs.
The GalaChain ecosystem connects various platforms and applications using blockchain technology to improve user experience in games, music, movies and more.
- Gala Games. As the cornerstone of the GalaChain ecosystem, Gala Games boasts a portfolio of 17 games, including 6 in early access and 3 coming soon. These games support various platforms such as browser-based, mobile (Android and iOS), Windows and Mac.
- Gala Music is a decentralized music streaming platform powered by GalaChain and IPFS. Artists can convert songs into NFTs and directly sell them on Gala Music without the hefty royalties of traditional producers. Digital signatures for songs are uploaded to GalaChain as NFTs. MUSIC is the platform’s native token, and Gala Music boasts over 20,000 Jukebox Nodes, making it one of the largest DePIN networks. Jukebox Node operators are rewarded with MUSIC tokens for supporting the ecosystem with artists, track owners and listeners. Gala Music allows artists to retain ownership of their intellectual property, providing transparency and improved monetization. Fans benefit from direct interaction with musicians and exclusive access to content and merchandise. Backed by well-known artists such as Snoop Dogg and Jordin Sparks, Gala Music has over 400 music creators registered with Gala Music.
- Gala Film is a decentralized platform that allows filmmakers to tokenize their work as NFTs. This provides transparency, security and improved monetization, giving creators more control over their intellectual property. Through direct interaction with audiences, filmmakers can offer exclusive access to content and merchandise. Theater Nodes are the backbone of Gala’s decentralized film ecosystem. By owning a license and managing a Theater Node, users can use computing power to host cinematic content and earn daily rewards. Additionally, users can own Moments — unique scenes from movies or TV shows that earn rewards each time the content is viewed. These moments vary in rarity, providing a unique and rewarding experience for both creators and viewers in the community.
- NFTs. The GalaChain ecosystem includes various popular collections of NFTs, including gaming NFTs from Gala Games, music NFTs from Gala Music and movie NFTs from Gala Film. These NFTs are unique digital assets that increase user engagement and offer new monetization opportunities for creators. NFT enthusiasts can mint and transfer their NFTs in the GalaChain Inventory or on third-party trading platforms.
- DeFi. GalaSwap enables direct token swapping on GalaChain, allowing users to trade GALA and other bridgeable tokens seamlessly. The GalaSwap Project Token Creation Tool allows the creation of custom tokens on GalaChain, also allowing creators to distribute mint allowances as they wish to addresses on chain.
Uniswap Secondary Market on Zora. When any posts created on Zora.co (contract version v2.13.2 and above) ends their mint period, a secondary market powered by Uniswap will begin. A portion of the Mint Fee provides liquidity on Uniswap, and one token for every ten minted during the primary mint window ensures an immediately active secondary market. With the new secondary market model, we are putting forward a new form of creator royalties called Secondary Rewards — they are onchain, built into each Uniswap market, and cannot be taken away.
NFTScan presents AI Search Explorer. Now you can find the exact NFTs you’re looking for: Use text (TXT-IMG) or upload images (IMG-IMG) for precise results.
sudoswap will be launching on ZAAR Chain on Day 1 along with the mainnet. It will be he first NFT Marketplace on Initia with Celestia underneath.
Magic Eden aggregated minting platforms into Mint Terminal .
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NFT2.0 aggregator updated all project pages.
ERC-7753: Algorithmically generated NFT. The current NFT solutions store images on IPFS or third-party servers, consuming storage space and being separate from the blockchain. Our goal is to represent image information using mathematical algorithms stored in smart contracts, tightly integrating with the blockchain. This approach uses no storage space and allows anyone to render the image information at any time based on the algorithm stored in the smart contract.
ERC-7757: Instinct-Based Automatic Transactions. This ERC proposes a standard for AI-driven automatic transactions on the Ethereum blockchain, triggered by predefined or dynamic “instincts” with associated temptation values. AI agents or users autonomously evaluate and act upon these instincts, optimizing their strategies through a learning process. This standard enables the creation of a self-regulating, adaptive blockchain ecosystem where decisions and transactions are made based on calculated rewards and penalties.
ERC-721 standard security page on the SmartSecHub.
Classifying NFTs as securities would not only misinterpret the law, but would jeopardize the livelihoods of artists, disenfranchise collectors and gamers, and stifle innovation in many promising uses of NFTs.
To ensure that creators can continue to innovate without fear, OpenSea is pledging $5M to cover legal fees for NFT artists and developers who receive a Wells notice.
Will NFTs Come Back? 54.1%, or more than half of cryptocurrency market participants, do not expect NFTs to return in the near term. Specifically, 29.5% of respondents strongly disagree that NFTs will return in the current cycle, which slightly overpowers the 24.7% who are less opposed to NFTs. A further 26.4% of participants expressed a neutral stance towards NFT, probably representing a mix of those who take a wait-and-see attitude towards NFT and those who are not interested in this niche.
On the other hand, builders and spectators were more optimistic about NFTs recovering, as compared to investors and traders.
What is the most popular NFT use case? The survey revealed that the crypto community has mixed opinions on the best use case for NFT. At the same time, gaming and the meta universe proved to be the most popular NFT use case — 17.2% of cryptocurrency participants found it to be the most bullish.
Disclaimer. To date, analytical tools are still evolving and provide only approximate data that do not cover all chains, DAG systems and other types of distributed ledgers, as well as NFTs or less common types, such as utility or financial.
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In August, the total number of users decreased.
Volumes fell proportionately and the leaders did not change. Royalties have dropped.
Magic Eden flipped Opensea this mounth
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