In a shocking and unprecedented twist of fate, Gala Games, a towering presence in the burgeoning web3 gaming industry, has been thrust into the spotlight due to a fierce feud between its co-founders. Eric Schiermeyer and Wright Thurston, once partners in a vision for the future of gaming, have turned against each other, setting in motion a dispute that has rocked the foundations of the web3 gaming community. This explosive legal saga, unveiled on August 31, 2023, has unraveled a web of complex allegations and intrigue that has left the industry in disbelief.

The Unveiled Allegations

At the heart of this bitter conflict lies a sprawling 76-page Verified Shareholder Derivative Complaint filed by Eric Schiermeyer. Within the labyrinthine legal document, Schiermeyer levels a staggering accusation against Wright Thurston and his investment vehicle, True North United Investments, LLC. He alleges that a grand theft of Gala Games’ most vital resource, the GALA tokens, to the tune of 8,645,014,077 tokens, has taken place under Thurston’s orchestration.

GALA tokens, the lifeblood of Gala Games’ blockchain-based gaming ecosystem, are the linchpin of the platform. They power in-game transactions, facilitate exchanges among players, and even serve as the driving force behind the Gala Nodes, a coveted limited offering of 50,000 nodes enabling users to earn GALA tokens through operation.

The Intricacies of Deception

Schiermeyer’s lawsuit paints a vivid and sinister portrait of Thurston’s alleged scheming. It suggests that Thurston meticulously engineered a convoluted web of transactions, intentionally designed to obscure the flow, exchange, or sale of the allegedly misappropriated tokens. These GALA tokens, with an estimated worth of a staggering $130 million, vanished into thin air before Gala Games had a chance to intervene.

Curiously, this legal battle also rekindles the specter of the United States Securities and Exchange Commission (SEC). It reveals that Thurston and True North were previously embroiled in an SEC lawsuit regarding their involvement in “Green Boxes,” an ambitious but ultimately controversial energy-efficient crypto token initiative.

A Troubled History

The lawsuit delves further into Wright Thurston’s troubled past, marked by associations with companies that have faced legal actions, insolvency, or bankruptcy. Thurston’s history includes previous run-ins with the SEC, casting a shadow over his business ethics and practices. He has also been linked to several unsuccessful ventures, including ventures in the murky realm of multi-level marketing.

Seeking Justice and Resolution

Eric Schiermeyer’s lawsuit seeks a multi-faceted path to justice. It calls for the disgorgement or restitution of the allegedly misappropriated cryptocurrency, with the aim of restoring what Gala Games has purportedly lost. The lawsuit also demands compensation for the damages inflicted upon the company due to these alleged actions.

In an additional twist, the legal action seeks to dethrone Wright Thurston from his directorial role within Gala Games, signaling a profound desire for a substantial change in the company’s leadership.

It’s worth noting that the lawsuit raises questions about Thurston’s acquisition of a lavish $40 million residence in Puerto Rico in March 2022, adding further intrigue to the financial implications of his alleged actions within Gala Games.

The Industry Watches with Bated Breath

As this gripping legal battle unfolds, the entire web3 gaming community finds itself on the edge of its seat, gripped by uncertainty about Gala Games’ future and its place within the ever-evolving landscape of blockchain-based gaming. The clash of titans between Schiermeyer and Thurston threatens to reshape the web3 gaming world, and the outcome will undoubtedly have far-reaching consequences for the industry as a whole. Stay tuned as we delve deeper into the drama, revealing the shocking details and ramifications as they come to light.