Gala Music Introduces MUSIC token
Gala Video games isn’t solely about gaming. They’ve additionally been busy constructing out branches for movie and music. And now, their Gala Music platform takes one other step ahead as they announce the launch of their MUSIC token, an blockchain based mostly token that can change the present, in-app solely BEAMS token.
Gala Music is able to make issues official with the launch of their MUSIC token on the Ethereum and GalaChain networks. This token replaces BEAMS, and can operate because the financial spine for the Gala Music ecosystem.
Extra about MUSIC token
Observe house owners accumulate factors towards MUSIC tokens at any time when somebody streams a monitor they personal. This encourages monitor house owners to advertise their monitor assortment by means of social media, playlists, and particular occasions. Node house owners additionally obtain factors as customers stream tracks from their server, encouraging them to maintain their Node on-line, and likewise to assemble a big choice of music tracks that individuals need to take heed to!
And better of all, the artists aren’t neglected. Not solely do they obtain earnings when their tracks are bought, however in addition they obtain ongoing royalties as their tracks are streamed by means of the Gala Music platform! All MUSIC distribution occurs by means of a ‘recognition factors’ system, with a shared reward pool among the many members.
Customers can assist artists and achieve loyalty factors by holding, or staking MUSIC tokens on that artist. Gamers obtain a loyalty stage, relying on how a lot they stake, which opens up perks like entry to an unique Discord chat, month-to-month giveaways, reductions, and extra.
Any person of the Gala Music website that has collected BEAMS can convert these into MUSIC tokens by means of their balances page on a one to 1 foundation (i.e. 1 BEAM = 1 MUSIC). MUSIC tokens are minted on the GalaChain, however can holders can bridge them again to the Ethereum community for buying and selling. And vice-versa.
What’s Gala Music?
Gala Music is a web3 music distribution and streaming service. Artists promote Tracks, which customers can then pair with Nodes and stream for anybody to take heed to. Observe house owners, Node house owners, and the musical artist all earn factors then extra usually customers stream their tracks. These factors decide the scale of the payouts to everybody concerned.
Artists launch new tracks recurrently on the platform. Tracks can be found for quite a lot of costs.
With the introduction of the MUSIC token, Gala Music has introduced their financial system absolutely on-line. With some enlargement and integrations with different apps, Gala Music could also be poised to take the lead within the merging of the blockchain and music industries!
To study extra about Gala Music, go to their website, observe them on Twitter, and be part of their Discord.
