The credential data in the present times is isolated across several databases which are managed by controlled-centralized applications, government organizations and credit institutions. This has kept the individuals or the applications who require the data, aloof and closed. Galxe intends to address this issue using an open and collaborative credential data network that would help Web3 developers leverage their credential data to build better products.
The Galxe platform is loaded with infrastructure which limits the components and contributes to the digital credentials of the data network. It supports curating data from multiple data sources where-in the curators contribute data from 7 different chains for on-chain credentials. The platforms also offer multiple APIs for enhanced use cases.
The native token GAL is the governance token of the platform which is also used to pay the Application module fee and carries many more utilities.
| Launch Date | 28 April 2022 |
| Founder | Charles Wayn, Harry Zhang |
| Blockchain Protocol | Ethereum Chain |
| Native Token | GAL |
| Market Cap | $54.12 million |
| Token Type | ERC-20, BEP-20 |
| Circulating Supply | 35.16 million GAL |
| Max Supply | 200 million GAL |
| Consensus Method | Proof-of-Stake |
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Who Are the Founders of Galxe?
Harry Zhang and Charles Wyan are the Co-founders of the project. Harry Zhang was previously the COO and the co-founder of Lino Network and the D.Live.tv. Before founding these platforms, Zhang worked as a Head of product at Club Factory. He holds a ‘Bachelor’s degree in Computer Science from UC Berkeley.
Besides, Charles Wayn, the co-founder and strategy lead of Galxe co-founded Dlive.tv and worked as the CEO. In 2019, DLive.tv merged with BitTorrent and Wayn became the new VP of Interactive Entertainment at BitTorrent. He also served as the President of the Association for Chinese Entrepreneurs (ACE) at UC Berkeley from 2017 to 2018.
How Does Galxe Work?
Galxe project aims to build an NFT-as-a-Service(NaaS) for developers and communities so that they create NFT-based loyalty systems. It mainly consists of 3 main features:
- NFT Launchpad
is a set of templates including plug & play modules for developers to create custom NFT campaigns to reward loyal community members. These templates include NFT Drop Campaign that focuses on Air-drops. It also includes asset-backed NFTs that enables the users to stake-in governance token to mint asset-backed NFTs. And Initial NFT offering allows the developers to raise funds with custom whitelists and various pricing models.
- NFT Arcade
It is a set of gamification modules that keeps the community engaged and creates sustainable value for existing NFT holders. The modules include Forging, Upgrade, and Farming. With forging, the existing NFT modules can be forged into multiple NFTs into ones that represent higher levels of contribution in the community. The Upgrade module allows you to upgrade from the existing NFT based on on-chain activities. Further, the Farming module provides a fun way to reward members based on their NFT’s rarity and attributes.
- DAO Suite
It is a suite of tools that help the DAO or Decentralized Autonomous Organisation to build a better community and identify long-term contributors by utilizing the NFT holder profiles. The tools include
- Third-party social media plugins
- NFT holding profile dashboard
- Voting system leveraging NFT-powered loyalty system
- Reward distribution tool leveraging NFT holding profile
- DeFi related applications
Read more:
What Makes Galxe Unique-Uses Cases?
The main aim of the project is to build a public, collaborative data network which is widely available to all Web3 developers. While the infrastructure is provided by the project, the curation of credentials is accomplished using several sources through the provided infrastructure. The curators can also request on-chain credentials as Galxe is connected with data sources like Twitter & Github for off-chain.
The platform offers Application modules, credential Oracle Engine, and credential API for developers. Besides, the use cases of the application modules include
- Galxe OATs (On-chain Achievement tokens),
- NFT Loyalty programs,
- Growth Hacking Campaigns,
- Gated Community
- Customized governance
Read more: How to build an NFT community?
Galxe Price Analysis
Source: Tradingview
- After the recent market crash due to the collapse of the FTX exchange, GAL price witnessed a steep downfall from levels above $2.6 to as low as $1.23
- Meanwhile, the trend since then has been incremental and approaching the immediate resistance that it constantly tested multiple times before
- As these levels could have weakened to some extent, the possibility of surpassing the resistance becomes quite prominent
- Hence, the GAL price is believed to maintain an ascending consolidation to reach the apex and may also face a minor rejection in the meantime
- Once it reaches the pinnacle of the consolidation, the price may break above to reach $2 initially and lay down a notable upswing to reclaim the lost levels soon.
Read more: Crypto Price Predictions
| Galxe Price Today | $1.59 |
| Price Change <Yearly> | NA |
| Market Dominance | 0.008% |
| Market Rank (as per CMC) | 315 |
| Market Cap | $55.74 million |
| Fully Diluted Market Cap | $309.06 milion |
| ATH | $18.26 |
| ATL | $1.23 |
How to Buy Galex in India?
Buying or selling Galex (GAL) or any other token is simple and safe on CoinDCX. Being one of the leading crypto investing app, CoinDCX . To register all you need to do is,
- Download the CoinDCX App on your smartphone
- Enter the details required to register
- Complete KYC
- After your profile is verified, fund your wallet and buy GAL token
