GALA CEO Responds to Drama as Crypto Twitter Reacts

• Gala Games recently announced the development of two separate films in collaboration with independent production companies led by Hollywood stars Dwayne ‘The Rock’ Johnson and Mark Wahlberg. 
• In the wake of the announcement, GALA surged 70%. 
• CoinDesk and Crypto Twitter reacted to the deletion of the original announcement. 
• Gala later clarified the situation claiming the original statement lacked context. 

In a now-deleted tweet dated January 9th, Eric ‘Benefactor’ Schiermeyer, CEO of Gala, announced the development of two films in collaboration with Dwayne ‘The Rock’ Johnson’s Seven Bucks Productions and Mark Wahlberg’s Unrealistic Ideas. The CEO shared that the upcoming films would play a major role in the strategy for Gala Film. 

Following the announcement, GALA reportedly surged 70% in 24 hours, according to CoinMarketCap. The price rally supposedly coincided with the announcement of Hollywood’s biggest stars’ entrance into Web3 with Gala Film. However, events quickly took an unexpected turn. 

Overzealous – The Announcement and Reaction

While the CEO’s 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 Film’s partners, claiming the posts were “a bit overzealous.”

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. 

Omkar Godbole of CoinDesk correlated the negative funding rates with the deletion of the tweet and the alleged negative sentiments in their article. 

Gala’s executives Jason ‘Bitbender’ Brink and Eric ‘Benefactor’ Schiermeyer shared that CoinDesk’s article lacked important information about the film’s production and trailer. Users later shared their concerns with the publication’s article missing facts and implying that the tweet’s deletion led to a price dip. 

A Benefactor of Catharsis

In response to CoinDesk’s article, Schiermeyer shared on the Gala Games Discord channel:

Gala Games’ official Twitter later tagged CoinDesk and the reporter in question, suggesting they read an article before writing one.

CoinDesk’s reporter later responded to Gala Games’ tagged tweet, claiming they had reached out for a comment but failed to get a response. The reporter added that the article didn’t insinuate anything and instead just mentioned Gala had deleted the initial tweet. 

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. 

The exchange led to Crypto Twitter reacting to the drama on CoinDesk’s tweet promoting the article. Some users called for ‘dumping the project,’ while others clarified the situation, stating the deletion of a tweet didn’t mean bad news. 

What’s This All About?

Gala’s film subsidiary will release two independent projects with the superstars’ featuring as executive producers in their respective collaborations. 

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 Film’s 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. 

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. 

Gala has shared that the release timeline for the title with Mark Wahlberg’s 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 ‘Benefactor’ 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 Decentraland’s 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. 

Read about CoinDesk’s previous controversies:
CoinDesk Stirs Controversy in Report on The Sandbox and Decentraland User Numbers. 

Why did GALA soar by 70%:
GALA Soars by 70% After Dwayne Johnson and Mark Wahlberg’s Movie Announcement.