The GALA token is the digital utility token of the Gala Games ecosystem.
GALA is an ERC-20 utility token used in the Gala Games ecosystem, an Ethereum-based gaming platform. GALA can be used as the medium of exchange between participants in the ecosystem and to purchase digital assets, including NFTs. The project aims to create an environment where gamers retain full ownership of their in-game items, in contrast to the current centralized system where players lose their in-game items when banned or when platforms shut down. NFTs used in-game exist on the Ethereum network and are entirely separate from Gala Games.
Why Donate GALA?
Since GALA has appreciated significantly, donating GALA and other cryptocurrencies can save you money on your taxes. Because the IRS classifies cryptocurrency as property, this means you don’t have to pay capital gains tax on your donation and can deduct the amount on your tax return. This is why financial advisors recommend you donate your most highly appreciated assets first. Users who donate and enter their email address will automatically get a compliant tax receipt.
Don’t want your GALA stack to decrease? Repurchase the same amount of GALA afterward and still get the same tax benefits to offset some (or all) of your gains.