- Gala Games recently announced the development of two separate films in collaboration with independent production companies led by Hollywood stars Dwayne โThe Rockโ Johnson and Mark Wahlberg.ย
- In the wake of the announcement, GALA surged 70%.ย
- CoinDesk and Crypto Twitter reacted to the deletion of the original announcement.ย
- Gala later clarified the situation claiming the original statement lacked context.ย
In a now-deleted tweet dated January 9th, Eric โBenefactorโ Schiermeyer, CEO of Gala, announced the development of two films in collaboration with Dwayne โThe Rockโ Johnsonโs Seven Bucks Productions and Mark Wahlbergโs Unrealistic Ideas. The CEO shared that the upcoming films would play a major role in the strategy for Gala Film.ย
Following the announcement, GALA reportedly surged 70% in 24 hours, according to CoinMarketCap. The price rally supposedly coincided with the announcement of Hollywoodโs biggest starsโ entrance into Web3 with Gala Film. However, events quickly took an unexpected turn.ย
Overzealous – The Announcement and Reaction
While the CEOโs original announcement mentioned the actors were participating offscreen in their upcoming title, the post did not mention the names of their production companies. This led to the social media team editing the original announcements on Discord and deleting tweets out of respect for Gala Filmโs partners, claiming the posts were โa bit overzealous.โ
Sponsored
In light of the social media edits, Crypto Twitter and community members brought the authenticity of the initial announcement from Gala into question. After having rallied 70% in 24 hours, GALA saw a brief pullback due to the negative funding rates.ย
Omkar Godbole of CoinDesk correlated the negative funding rates with the deletion of the tweet and the alleged negative sentiments in their article.ย
$GALA, @GoGalaGames' native token, stumbles after the blockchain-based gaming platform deleted a tweet announcing a partnership with @theRock and @markwahlberg.
— CoinDesk (@CoinDesk) January 11, 2023
Despite the pullback, the token is still up over 130% for the month.https://t.co/a4UHszZn3U pic.twitter.com/4nG9wc1TAD
Galaโs executives Jason โBitbenderโ Brink and Eric โBenefactorโ Schiermeyer shared that CoinDeskโs article lacked important information about the film’s production and trailer. Users later shared their concerns with the publicationโs article missing facts and implying that the tweet’s deletion led to a price dip.ย
A Benefactor of Catharsis
In response to CoinDeskโs article, Schiermeyer shared on the Gala Games Discord channel:
Gala Gamesโ official Twitter later tagged CoinDesk and the reporter in question, suggesting they read an article before writing one.
.@coinDesk @godbole17 maybe read an article before writing one?https://t.co/gYKtkdzLEz
— Gala Games (@GoGalaGames) January 11, 2023
CoinDesk’s reporter later responded to Gala Gamesโ tagged tweet, claiming they had reached out for a comment but failed to get a response. The reporter added that the article didnโt insinuate anything and instead just mentioned Gala had deleted the initial tweet.ย
@GoGalaGames you deleted the tweet. that's all the article says, it doesn't insinuate anything
— Omkar Godbole (@godbole17) January 11, 2023
Here https://t.co/eldVzbAenJ
you RT article, citing partnership with Rock as reason for rally.
so was that the reason or its Variety's November article thats pushing the token higher?
Jason Brink, Chief Marketing Officer of Gala Games, shared his thoughts in a tweet, clarifying the situation. The executive shared that the first tweet was deleted because it made it look like Gala Film was working on one project with the Hollywood stars.ย
Context on this whole issue with Coindesk:
— Jason Brink aka BitBender (@BitBenderBrink) January 11, 2023
The first tweet was deleted because it made it look like we were working on ONE film with The Rock and Mark Wahlberg. The reality is that it is two separate projects with their respective companies.
Still building, no matter what. https://t.co/wCdCglh2vK
The exchange led to Crypto Twitter reacting to the drama on CoinDeskโs tweet promoting the article. Some users called for โdumping the project,โ while others clarified the situation, stating the deletion of a tweet didnโt mean bad news.ย
Whatโs This All About?
Galaโs film subsidiary will release two independent projects with the superstarsโ featuring as executive producers in their respective collaborations.ย
In partnership with Oscar Nominated and Emmy Award-winning filmmaker Steven Cantor, Gala Film aims to finance the feature-length documentary and make it available to its online community. Gala Filmโs community will gain access to exclusive behind-the-scenes footage and interviews, among other immersive experiences, as the filmmakers work on the film over the next year.ย
The documentary will feature Gala founder Eric Schiermeyer and COO Sarah Buxton as executive producers on behalf of Gala Film, along with Dwayne Johnson and other award-winning producers.ย
Gala has shared that the release timeline for the title with Mark Wahlbergโs team will be this summer. However, Gala Films has yet to share additional context on that project.
On the Flipside
- The CEO of Gala, Eric โBenefactorโ Schiermeyer, has since edited the initial discord message announcing the development of the film, dated January 9th.
- CoinDesk was recently involved in another controversy reporting The Sandbox and Decentralandโs user numbers.
Why You Should Care
It is easy to overlook some angles of the story, which is why CoinDesk and many users fell short in interpreting the announcement. Journalists and related publications must report accurate facts and news. This requires a story to be examined from every angle and considerate of all available data to provide necessary context.ย
Read about CoinDeskโs previous controversies:
CoinDesk Stirs Controversy in Report on The Sandbox and Decentraland User Numbers.ย
Why did GALA soar by 70%:
GALA Soars by 70% After Dwayne Johnson and Mark Wahlberg’s Movie Announcement.