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This Week in Crypto Gaming: Gala’s $240 Million Exploit, NYAN Token Launch, ‘Notcoin’ Earnings Missions
Cryptocurrency and NFTs The gaming space is busier than ever lately, with major games starting to release, coin drops piling up, and a seemingly constant array of other things happening all the time. There’s a lot to take in!
Luckily, DecipherGG is everywhere. And if you need a quick way to stay up to date on the latest crypto gaming moves, we’re happy to present This Week in Crypto Games.
Our weekend roundup features the biggest stories from the past week, along with a few other tidbits you may have missed. We also feature some of our original stories of the week.
The biggest news
Exploitation of the Gala Games: The Gala Games ecosystem was attacked last week when an as-yet-unidentified person exploited the Gala smart contract print and drag 5 billion GALA tokens, or worth $240 million at the time. After exchanging 600 million GALA tokens for ETH via Uniswap, the wallet was frozen and the next day the attacker returned the $22 million in ETH that they had managed to get their hands on.
The Gala team first decided to exchange the returned Ethereum for GALA tokens burning themthus cutting the overall offering. Now the network operators vote consider the remaining 4.4 billion GALA tokens printed by the attacker to have actually been burned, as they are currently stuck in a frozen wallet.
NYAN Token Launch: Solana-based shooter game with heroes Heroes of Nyan launched its token on Bybit, early Tuesday morning. The token surpassed $0.46 on initial volume of $22 million, and at the time of writing currently has a market cap of approximately $21 million according to CoinMarketCap.
In addition to the launch, Bybit hosted a awards campaign distributing 2.76 million NYAN tokens (approximately $828,000) to customers who staked NYAN, MNT or USDT on the exchange. Nyan Heroes developer 9 Lives Interactive has also opened airdrop he says to those who have checked out the playtests of the pre-alpha demo on the Epic Games Store.
Missions to earn coins: After successfully by throwing its NOT token Due to considerable demand, the viral Telegram-based clicker game Notcoin launched a new type of in-game mission last week that allows players passively earn crypto rewardsrather than earning one-time rewards.
“Earning missions” guide players through different communities belonging to “partner projects,” granting them tokens in exchange for knowledge of other crypto games and apps. However, true clicker gameplay has yet to return, although it is planned.
ICYMI
GG spotlight
Here are some of our original stories from the past week that we think are worth a weekend read: