Listeners who choose to buy music tracks and/or operate ‘Gala MUSIC Jukeboxes’ (nodes that host music on the platform), can also receive the platform’s MUSIC token, $MUSIC. It is a utility token which can be redeemed on concerts, experiences, merchandise, collectibles, music and more. $MUSIC can also be used as within the ecosystem to increase the functionality of the Gala MUSIC Jukeboxes, formerly called “Player Nodes” – including the number of tracks they can host.
Gala Music’s ecosystem features five key roles: Listeners, Fans, Owners, Hosts, and Artists.
Gala MUSIC is a new home for artists wanting more control, full transparency and improved monetisation. It is also a new place for listeners and fans to enjoy an altogether more interactive and rewarding music experience.Aiming to create a decentralized fan economy through blockchain technology, Gala Music strives to revolutionize the music entertainment industry as a new type of Web3 music platform.Behind Gala Music is Gala Games, a blockchain game development company established in 2018. The Gala Games platform primarily focuses on three sectors: games, music, and films.
In February 2022, Gala Games officially launched Gala Music, announcing a collaboration with renowned rapper Snoop Dogg. His latest album (B.O.D.R.) was deployed on the blockchain, with tracks being sold as NFTs. Currently, Gala Music collaborates with 87 top musicians, including Snoop Dogg, Jordin Sparks, Earl Sweatshirt and The Alchemist, and PLS&TY.
Technical Principles Behind Gala Music
Built upon Gala Games dedicated and customizable L1 blockchain, GalaChain, Gala MUSIC Jukebox operators provide music streaming services and infrastructure, tracking content providers to enable fans to discover, stream, support artists, and interact with them.
In exploring the dynamic landscape of the music industry, it’s essential to understand the total addressable market encompassing five key segments: Listeners, Fans, Owners, Hosts, and Artists. Each group plays a pivotal role in the ecosystem, contributing to the industry’s vibrancy and economic potential.
Listeners: Listeners will find an increasing catalog of artists ‘streaming free’ on the MUSIC platform, with high quality sound, mobile optimized site and concert and video features – users can access curated playlists, new music and exclusive tracks. Unique plays on the platform are tracked so that the most popular songs can be ranked, and the owners of tracks related to those songs, rewarded.
Fans: The individuals who buy albums, stream songs, or purchase tickets to shows, are largely invisible to an artist. With MUSIC, emerging talents and established names can see who their supporters are, giving them not just a unique insight into their fan-base but also a real chance to interact with them. For a fan, MUSIC is an opportunity to engage, interact and be recognized by an artist like never before.
Owners: Owners of individual music tracks are able to host their track(s) by pairing the same with a Gala MUSIC Jukebox. Track Owners can receive $MUSIC based on how well the song related to that track is performing. Song performance is captured by the ‘Popularity Algorithm’ registering the number of listens a song has both on and off of the MUSIC platform. As noted below, Track Owners can host their own Tracks, or partner with a Jukebox Operator to host their tracks.
Hosts: Known as a Gala MUSIC Jukebox Operator, those who host music tracks share in the distribution rewards of those tracks, with the Track Owner. If the Gala MUSIC Jukebox Operator and Track Owner are the same person then they earn 100% of the distribution reward associated with the track pairing. Gala MUSIC Jukebox Operators have the option to ‘opt in’ to being a community host – meaning they don’t need to own tracks to earn $MUSIC but can share in the distribution with Track Owners who need a host. Gala MUSIC Jukeboxes have a 20 hours minimum uptime requirement and can (currently) host 10 tracks as standard – these tracks can be their own, or be owned by a member of the community who has opted in to have their tracks hosted.
Artists: Gala MUSIC is an artist-first platform, providing each with on-chain data around their sales, streams and ‘All Access’ items and experiences. When releasing songs on MUSIC, an artist’s song enters into a tier system, the number of tracks made available for any given song, can increase with the number of listens a song gets (i.e. its popularity). The release of tracks is the primary revenue stream for an artist and is supported by residual income from secondary market sales, as well as other platform incentives (tips and tracks), which are obtained based on listens, fan and artist engagement.
How to Use Gala Music to receive rewards
Gala Music offers non-artists multiple ways to receive rewards: first you can be a supportive ecosystem actor, second is purchasing tracks and pairing them with a Jukebox Node, and third is operating a Gala MUSIC Jukebox Node.
Open the Gala Music Official Website
Method One: Refer new users to Gala Music
1. After entering the homepage, click “Charts” to view tracks currently trending.
2. Click “Share” on the track you want your friends to listen to and copy your unique referral link.
3. When your friends create an account and begin to listen you can receive $MUSIC token for supporting the ecosystem.
Method Two: Own tracks paired on a Gala MUSIC Jukebox
1. After entering the homepage, click “Charts” to view tracks currently trending and the related daily listen and reward statistics
2. Select music (Track) that you believe has potential and complete the purchase, after which you can earn rewards based on play counts. Note: Tracks marked as “Sold Out” have been sold and can be viewed on Opensea; if your preferred music is available, click to enter the purchase page.
3. Click “Purchase”, choose the payment token on the purchase page, and after completion, the corresponding music NFT will be minted.
4. After purchasing your track you must pair the track to a MUSIC Jukebox Node to begin receiving $MUSIC rewards. Select “Nodes”, click “Your Music”, then click “Not-Hosted”.
5. Select the track you wish to host and click “Host selected tracks”. Click “Confirm” and your track will be hosted with a Community Jukebox Nod
Method Three: Host tracks on a Gala MUSIC Jukebox
1. After entering the homepage, click “Nodes” to access the Jukebox Nodes purchase page
2. Click the “Buy Now” button and complete the purchase (currently, the price of a Node is 9,137 MUSIC tokens)
Click the link to purchase MUSIC immediately: https://www.htx.com/en-us/trade/music_usdt?type=spot
3. After purchasing a Jukebox node, you can buy music that you believe has potential, match it with your node to receive MUSIC token. Currently, buying a Jukebox Node during the Gala Music limited-time promotion grants free tracks.
Click “Your Music,” enter the page, then click “Explore Music”
4. Select music (Track) that you believe has potential and complete the purchase, after which you can earn rewards based on play counts. Note: Tracks marked as “Sold Out” have been sold and can be viewed on Opensea; if your preferred music is available, click to enter the purchase page
5. Click “Purchase”, choose the payment token on the purchase page, and after completion, the corresponding music NFT will be minted. The holder can view or list it for sale on Opensea
Token Economic Model
MUSIC is the utility token of Gala Music, which can be used in the MUSIC store to purchase tracks or Jukebox Nodes. Additionally, MUSIC tokens can be used to increase the capacity of a Jukebox Node and the quantity of tracks they can host. It’s worth noting that the MUSIC token has a burning mechanism. When a user completes a purchase in the ALL Access Store, 50% of the paid amount in tokens will be destroyed, with the remaining 50% paid to artists on MUSIC.
The daily token mint will be distributed to ecosystem participants who contribute positively to the project and platform, incentivizing their beneficial actions. The allocation for ecosystem participants depends on the popularity of a track on a given date, and this conversion from track popularity to token allocation is managed through MUSIC’s proprietary ‘Popularity Algorithm’.
GalaChain, as MUSIC’s L1 blockchain, leverages the power of $GALA as its designated gas fee token for seamless bridging in and out of the platform. This approach ensures efficient operations. GalaChain enhances the ecosystem without diminishing the value and purpose of the Gala $MUSIC token.
With 50% allocated to the platform, mainly for ecosystem development, market operations, event expenses, and partnerships. Of the remaining 50% of MUSIC, 25% is allocated for daily ecosystem support activities, 25% for track owners, 5% for daily active artists, 5% for monthly active artists, 5% for daily active node operators, and 35% for daily GALA MUSIC Jukebox.
Conclusion
The Gala Music project was launched in 2022 as an integral part of the Gala ecosystem. Its reward model is innovative; it builds direct connections between music artists and fans through blockchain technology, representing a disruptive innovation and challenge to traditional music platforms. Furthermore, as Gala Music moves forward, they are committed to: break down barriers, foster direct artist-fan interactions, and ensure artists have the freedom and support they need to thrive.
The post first appeared on HTX Square.
