The long-anticipated moment has arrived! Gala Film is proud to announce completion of our Token Generation Event (TGE) for $FILM on December 5th, 2024
This milestone marks one of the most important steps in our mission to revolutionize the film industry through decentralization, bringing fans, filmmakers and cutting edge content to a thriving GalaChain ecosystem. Whether you’re a filmmaker seeking creative freedom or a fan eager to engage more deeply with the stories you love, $FILM is now here to empower you.
GalaChain $FILM allowances have now been issued to all Gala Film users based on their support prior to the $FILM TGE. You’ll find more information on redeeming $FILM allowances and initial distribution in the newly updated Gala Film Whitepaper.
A Decentralized Vision for Entertainment
At Gala Film, we’re reimagining the film industry. By leveraging the power of GalaChain, we’ve built a platform where filmmakers can connect directly with audiences, cutting out traditional gatekeepers and elevating the experiences of both creating and enjoying films. The $FILM token is the beating heart of this ecosystem—a utility and reward token designed to create a transparent, inclusive and collaborative cinematic experience.
$FILM Details
Here’s what you need to know about the $FILM TGE:
Launch Date: December 5, 2024
Total Supply: 500 million $FILM
Initial $FILM generation at launch: 100 million $FILM (20% of the max supply)
Initially $FILM has been allocated to content creators, Theater Node operators, advocates and other ecosystem supporters.
This distribution ensures that every participant, from filmmakers to fans, has a stake in Gala Film’s decentralized vision.
To finish 2024 with a bang, Gala Games has unveiled an awesome weekly way to collect $GALA… The Epic Gala Sweepstakes.
Prize drawings are happening every week on Wednesday at 12pm PT. Don’t miss out. Next week’s drawing (December 11th) will be the biggest yet, with more than 12 MILLION $GALA in the prize pot!! 🤯
Progressive $GALA Prizes
Epic Gala Sweepstakes is a lottery-style game in which players submit tickets to pick numbers and enter themselves in the weekly prize drawing.
Prizes are a combination of $GALA, the core utility/gas token of the GalaChain ecosystem, and additional Sweepstakes tickets.
Whenever $GALA is burned, 2% of that $GALA is always added to the ongoing prize pot in the Epic Gala Sweepstakes. Any $GALA that is not won in each drawing rolls over into the next weekly drawing.
Additionally, the team is injecting an extra 1 MILLION $GALA to the prize pot every single day in December for major prize possibilities!
Tickets Do Not Expire
The newest Epic Gala Sweepstakes update reveals that tickets will no longer expire if left unused by each new Sweepstakes drawing. This means players will have the freedom to wait until the time (or prizes 😉) are right, adding a new dimension of strategy to the game!
How to Enter
Anyone in an eligible location* can enter the weekly Epic Gala Sweepstakes drawing with no purchase required, using the mail-in option. For more details on this no-purchase-necessary method of entry, check out the Terms & Conditions.
All tickets in the Epic Gala Sweepstakes are free, collected by using $GALA on eligible ecosystem actions. To be classified as an eligible action, $GALA must be burned as part of the action. Whenever a user action leads to a $GALA burn, the total $GALA burn counts toward your accumulation of free Sweepstakes tickets.
Eligible Purchases
Sometimes, eligible actions are item purchases in which all $GALA spent is burned – Typically, these are items sold for Gala Games owned IPs like VEXI, Mirandus and Common Grounds World.
Transactional Fees
Additionally, $GALA is burned when it is used in transactional fees, for transferring, minting or bridging tokens.
Tapper $GALA
In Gala Games’ Telegram mini app ecosystem, all $GALA used in-game is burned, so 100% of $GALA spent on features like buying Steal Tokens, Premium Quests and Gala Stash counts toward your free Sweepstakes entries.
Connect your Gala Games wallet in the following free games:
When you create or accept a token swap on GalaConnect, all $GALA fees count toward your free Sweepstakes tickets. If you use the project token creation tool to make a new token, $GALA burned when your token is approved will also count.
How to Play
Playing Epic Gala Sweepstakes is as simple as using your free tickets.
*Please note that this fee is also burned, counting as 1/10 of your next free ticket!
Epic Gala Sweepstakesis only the beginning of a new era in Gala Games chance-based gaming, powered by a state of the art GalaChain RNG system, coming soon…
With the release of the new Gala Film Whitepaper, we’re unveiling the transformative vision and innovative technology powering Gala Film. With more detailed plans than the previous Litepaper, this document offers an in-depth look at the platform’s economy, the $FILM token, and how we’re decentralizing the filmmaking industry to empower creators and fans like never before.
Following December 5th’s successful $FILMToken Generation Event (TGE), let’s dive into the key highlights of the Whitepaper and how Gala Film is rewriting the cinema script for the web3 era.
Gala Film is more than an ad-free film streaming platform; it’s a movement to decentralize and democratize the entertainment industry. With the web3 power of GalaChain as its engine and our native $FILM token as its fuel, Gala Film will virtually eliminate the gatekeepers of traditional filmmaking, empowering creators with control over their content and fans with opportunities to participate while collecting rewards.
Gala Film’s mission is built on three core principles:
Decentralization: Using Theater Nodes to create a resilient and secure ecosystem, Gala Film is removing single points of failure for a film world free from centralized servers and corporate control.
Community Ownership: Film is meant to be experienced, and a community-centered approach allows Gala Film users to go deeper into the content they love. From owning digital collectibles to influencing platform governance, audiences will always play a vital role in the future of Gala Film.
Fair Rewards: Both creators and participants are rewarded transparently, fostering a sustainable and equitable entertainment ecosystem driven by the cutting edge capabilities of the latest web3 technology.
Key Highlights from the Whitepaper
The Whitepaper outlines the architecture, tokenomics and vision for Gala Film. Here are some of its most exciting elements:
The $FILM Token
At the heart of Gala Film is $FILM, the utility token driving the ecosystem. Here’s how it works:
Utility: $FILM facilitates all transactions and access to exclusive content.
Rewards: Fans can get $FILM by watching films, hosting Theater Nodes or supporting the platform through ecosystem-building activities.
Governance: Token holders will have a voice in shaping the platform’s future through decentralized governance mechanisms.
Decentralized Content Delivery
Gala Film’s Decentralized Content Delivery Network (DCDN) powered by Theater Nodes to ensure that content is available exactly when and where it is needed.
Decentralized Storage: Instead of being housed in giant centralized server warehouses, content is distributed, stored and streamed across a network of community-run nodes, ensuring reliability and scalability on a level that cannot be matched by more traditional centralized systems.
$FILM Rewards: Node operators collect $FILM rewards for contributing computing power and bandwidth to the ecosystem, similarly to how GalaChain Founder’s Node operators collect $GALA rewards for powering GalaChain.
NFT Moments and Rewards
Gala Film introduces gamified engagement with NFT Moments, the most accessible and simple method of supporting content for regular $FILM rewards.
Collecting Moments: Moments are collectible digital assets (NFTs) tied to specific films and series. They can be transferred or exchanged on secondary GalaChain markets like NFT Harbor.
Collecting $FILM Rewards: Moment owners receive daily $FILM rewards based on the popularity of the associated content, with a total of 15% of initial $FILM allocation for Moment owners.
Governance and Decentralization
The long-term vision of Gala Film is full decentralization that will open important platform decisions to members of the community, particularly Theater Node operators.
Community Governance: Theater Node operators and $FILM holders will vote on key platform decisions, from content guidelines to reward structures.
Join the Gala Film Revolution
The Gala Film Whitepaper is an invitation to be part of a decentralized cinematic future. Now is the time to join the movement and help redefine how films are made and experienced.
Together, we’ll create a people-powered entertainment ecosystem that puts creators and fans in control.
