FAQs

Here you will find some frequently asked questions and their answers to help you understand our ecosystem.

How does the GFAL ecosystem work?

Games for a Living is a video game development company that operates a marketplace where players can buy and sell in-game items using the $GFAL token. These transactions do not guarantee any financial gain for players, and the items are not NFTs, which prevents speculation on open or unregulated platforms.

The $GFAL token is classified as a utility token by the Comisión Nacional del Mercado de Valores (CNMV) in Spain. This means its sole function is to enable players to buy or sell in-game items within the GFAL platform, and it is not considered a financial instrument. The token is designed purely for use within the platform, avoiding the speculative activities associated with security tokens. Its issuance complies with EU regulations, specifically Title II of REGULATION (EU) 2023/1114.

Can players of the client's games earn winnings when they play?

No, players do not earn any financial rewards from playing. Games for a Living does not develop play-to-earn games, and no benefits are guaranteed. The games are designed purely for entertainment, similar to titles like FIFA (football video game), where players purchase items to enhance their teams. The key difference with Games for a Living is that these purchases can be made between players. However, any $GFAL tokens a player earns through sales are intended to be used solely within the GFAL ecosystem. The company's sole objective is to entertain players through their video games.

Can players exchange or cash-in their purchased tokens for cash?

Our platform does not directly facilitate the conversion of tokens into fiat currency. However, players may use third-party exchanges to cash out their tokens if desired. While these exchanges may offer services for converting tokens into fiat, we have no control or oversight over their operations or processes.

To ensure compliance with applicable regulations, Games for a Living has implemented an Internal Manual for the Prevention of Money Laundering and Terrorism Financing. This manual details our procedures for conducting identity verification and establishing thresholds to mitigate the risk of illicit activities. The most recent update was made on July 18, 2024, by our Head of Risk and Compliance, Christophe Canler.

We encourage our players to engage with reputable exchanges that comply with legal standards; however, any actions taken by players outside of our platform are beyond our control.