Gala said v2 tokens are part of an ongoing upgrade to the Gala smart contracts on the Ethereum blockchain. The upgrade is designed to make Gala more secure and will introduce burn mechanisms, which may make the tokens more valuable in the future.
Gala Games is one of the largest gaming-focused crypto projects, with a market capitalization of $360 million (at the time of reporting). Users can play different types of games built on the platform, and the tokens are used as the primary medium of exchange between users.
The Gala Games ecosystem includes: Walking Dead Empires, Grit, Spider Tanks, Mirandus, and many more. In-game items are represented as non-fungible tokens on the Ethereum blockchain and users can trade them on marketplaces, such as OpenSea.
Jason Brink aka BitBender is currently President of Gala Games. 
“GRIT” is described as battle royale title set in the Wild West being built by Team Grit. Team Grit is a new game development and publishing company established by veteran industry insiders Bob Berry and Jon Mavor, creators of Planetary Annihilation and Monday Night Combat.
The game will be a free-to-play online multiplayer game for Windows PC players, and it will feature user-owned ERC-721 NFT assets that can be purchased, resold, and utilized within the game. Play modes will include solo, duo and squad mechanics. 
Gala Games stated that this first step will hopefully help ignite the process of bringing web3 games to the masses, exposing millions of gamers to the world of blockchain gaming.
Other web2 gaming marketplaces, such as Steam, have banned web3 games that use NFTs or blockchain technology. But Epic Games CEO Tim Sweeney said Epic Games would allow them on the store, which has an impressive 194 million plus users.
“GRIT” is an upcoming battle royale title set in the Wild West being built by Team Grit. Team Grit is a new game development and publishing company established by veteran industry insiders Bob Berry and Jon Mavor, creators of Planetary Annihilation and Monday Night Combat. The game will be a free-to-play online multiplayer game for Windows PC players, and it will feature user-owned ERC-721 NFT assets that can be purchased, resold, and utilized within the game. Play modes will include solo, duo and squad mechanics.
The game will be launching towards the end of 2022.

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