Gala Games avoids the creator by talking a lot about token values

Should influencers with insider knowledge be allowed to speak publicly about tokens and their exchange value at the forefront of the blockchain game: crypto tokens and monetization versus traditional games?

This question has been at the center of a conflict between crypto influencer and YouTube mogul Jesus “Classy” Martinez and blockchain game company Gala Games. The company removed Martinez from its creator program following concerns that Martinez's videos were focused on “ROI” (return on investment) and token-oriented content.

“Yesterday, I was kicked out of the Gala Creator program,” Martinez said at length Post Explaining his experience. “I have invested thousands of hours in this ecosystem.”

According to Jason Brink, the company's president of blockchain, Gala Games is expanding its creator program, an initiative to spread awareness about Gala and connect creators through a dedicated Discord server.

The program awards a monthly $1,000 worth of GALA gifts to each approved creator to give to their fans at live or IRL events. Gala says it “doesn't support any content creators directly,” but is instead trying to grow the community through “network initiatives.”

as if Post In response to Martinez, Brink said that the gala does not want to allow any creator to be a part of the show because the creators in the program will have early knowledge of upcoming news and startups.

“If a creator makes a lot of ROI-based content or talks about tokens (moonboy/roiboi content), we cannot give them access to this information,” said Brink. “The GALA token is the central heartbeat of everything, but we don't want to encourage anything that creates liability for the project as a whole.”

“Classic is a great creator whose content doesn't match what we want. [sic] Promotion for obvious reasons,” Brink added.

But whatever it is, any creator can certainly be. Officially Promotion, in theory, any of the gala's many crypto tokens could be launched before the game or NFT behind the scenes.

“Play to Earn” or “Play and Earn” – a collection of games that allow players to earn crypto tokens or NFTs for winnings – forms a large part of Gala's game portfolio. The company sold expensive NFTs that could demand value Thousands of dollars For the games, some of them are not yet released. Gala has issued several tokens: GALA, ETIME, TOWN, MUSIC, MTMRM and SILK.

Blockchain game influencers may choose to cover crypto games rather than traditional games because they want to explore the financial aspects of the startup industry: they like to own game assets and buy and sell NFTs and tokens. It is a paradoxical task to expect content creators not to focus on blockchain game's blockchain elements.

And in the era of freedom Game simulation airdrops Attracting a huge amount of community attention and excitement, it is unlikely that crypto game enthusiasts will lose interest in the currency anytime soon.

Martinez said. Decrypt In a message that he tried to vote for the Gala token-trading community and players who bought and sold various Gala tokens and NFTs. He said he created his own community tournament for Gala Game Spider Tanks out of his passion for the game without any help from the company. And while Martinez has previously made “price prediction videos” that feel like they're real, he says he's never owned a large amount of Gala crypto tokens.

As for the so-called “Moonboys” being allowed to become part of the Gala ecosystem, Brink said, “You're welcome to come.”

“I don't feed them information to make legally problematic posts,” Brink said. he said..

But theoretically, does an influencer acting on the front lines or making public predictions about token prices pose a real legal threat to the company's gala?

Reached for outside comment, Georgia State University law professor and former FDIC attorney Todd Phillips, who frequently advises members of Congress and U.S. regulators on cryptocurrency regulation, says he doesn't think Gala will ultimately be held accountable for his behavior. In terms of law.

“Gala Games itself cannot be held legally responsible, especially if they have policies to stop insider trading in their terms of service,” Phillips said. Decrypt via email.

However, influencers who violate Galan's TOS are certainly possible. Securities laws are based on insider trading obligations. Influencers may be held liable if they breach their obligations to Gala (violating the TOS).

Gala games at the moment TOS It said users of the platform are not involved in “creating, trading, selling or buying securities,” cannot violate any laws, and users are “solely responsible for user behavior,” among other laws.

Gala Games currently does not have a separate legal agreement or TOS for Creator Program members, Brink confirmed Decrypt.

Gala Games' general TOS argues that the Gala token is “a digital reward, not a security token.”

But any incidents may still be subject to safety rules, Phillips said.

“Gala Games' Terms of Service do not determine the security of their Gala Tokens or other tokens used by their games. That will be decided by the jury based on the facts of the case,” Phillips said. Decrypt.

For example, last year a US judge found a former OpenSea executive Guilty of insider trading NFTs The executive pleaded innocent saying that NFTs are not securities and therefore such rules do not apply. But the judge didn't believe it, and now the executioner is trying. Appeal Verdict of guilt.

Edited by Andrew Hayward.