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Gala Games, a blockchain game company, announced Monday that it will invest $5 billion over the next year to extend its non-fungible token (NFT) offerings. Gaming is likely to receive $2 billion of the $5 billion allocated to Gala Game's NFT growth. A total of $1 billion will be set aside for the studio's music goals, as well as $1 billion for film production. The remaining $1 billion will be picked up by Gala theme park NFTs. When asked about the developments, Jason Brink, Blockchain President stated:
“Those were some of the numbers shared with the Gala Gold community and we certainly look forward to helping that unfold with the community in the future.”
Brink declined to elaborate on the contents or future plans, citing the necessity for his firm to conserve some materials for the Gala Gold community. As part of the campaign, Rapper Snoop Dogg may release an NFT album on its platform before it is released elsewhere. Snoop, who is no new to crypto, is said to have started collecting NFTs under the alias Cozomo de' Medici last year. In February 2021, the musician also tweeted a picture of a Shibu Inu head superimposed on his body from the R&G Rhythm & Gangsta — The Masterpiece album Brink further said:
“As for Snoop, keep watching and make sure to pick up his album when it comes out, whether it’s as an NFT or otherwise.”
Gala Games and crypto investment firm C2 Ventures recently announced the formation of a $100 million blockchain gaming fund. It will be focused on game developers and businesses built on the blockchain. At the time of writing, the platform's token, GALA, has a market value of $2.56 billion and a fully diluted valuation of $17 billion, trading at $0.34 per token. It is down roughly 58.6% from its all-time high set on Nov. 26, 2021.