Shrapnel FPS Game to Migrate to Gala Games Ecosystem
Web3 first-person shooter (FPS) game Shrapnel is making a strategic move from the Avalanche blockchain to the Gala Games ecosystem, as announced by the team on July 30. This migration is seen as a step towards enabling a global launch and aligning with a shared vision.
Community Reaction and Market Response
The decision to move Shrapnel has sparked mixed reactions within the gaming community. Despite this, the game currently accounts for 24% of the total AVAX mindshare, as reported by Messari Portals. The market has shown a positive response to the news, with the SHRAP token seeing a 17% increase in value over the last 24 hours. However, it is important to note that the token has experienced fluctuations, being flat over the past week and down 90% from its peak value in the last year.
SHRAP Token and Marketplace
SHRAP is a micro-cap token with a market capitalization of $6.7 million and a fully diluted valuation of $13 million. The token is utilized in Shrapnel’s marketplace, where players can buy and sell unique weapon skins, similar to the marketplace in Counter-Strike: Global Offensive (CSGO). Following its launch in January 2024, SHRAP briefly reached a market capitalization of $166 million but has since been on a downward trend.
Gala Games Ecosystem
Gala Games, known for its gaming-focused blockchain ecosystem, has had a volatile journey since its token launch in 2021. The GALA token reached a peak market capitalization of $5.5 billion in November 2021 but faced a significant drop to $120 million after the FTX exchange collapse in 2022. GALA has experienced fluctuations, with highs of $2.5 billion in March and December 2024, and currently holds a market capitalization of $717 million.
AVAX Mindshare Portal – Messari
SHRAP Chart – CoinGecko
*Messari Portals offer a community resource that combines quantitative data with qualitative context to provide transparent and convenient access to information for better decision-making in the crypto space. Visit messari.io/portals to learn more.