Gala Music is a new way of looking at music that elevates the careers of artists while empowering the experiences of the fans who make it happen. This game-changing rework of the music industry wouldn’t be possible without the creation of a secure and sustainable economy, unlocking the door to real ownership and real rewards. That’s where $MUSIC comes in, powered by GalaChain.
A World of Tokens
No matter where you look in the web3 world, you’ll find a plethora of tokens. Whether fungible (each token is the same as every other token) like Bitcoin or non-fungible (each token is uniquely identified) like a Gala Music track NFT, these gamified representations of digital property have staked a massive claim in the future of the internet.
Because tokens In web3 are always tied to smart contracts, a token is defined by what it represents and what it does. This is why nearly every blockchain-based project out there has a token of its own, created on a blockchain with custom specs that perfectly fit the situation. Basically, $MUSIC was built for music, created to fuel the Gala Music ecosystem for artists, fans, collectors, record labels and more.
What is $MUSIC?
Whenever you see the word with the $ and all capital letters, there’s a good chance it’s referring to the core ecosystem token of Gala Music. We think of $MUSIC mainly as a utility token because its economy is primarily driven by what it does. However, when categorizing the different types of tokens in web3, you’ll find that $MUSIC falls into multiple categories.
$MUSIC is a Utility Token, used to access and utilize the services offered by the platform. They can be spent in the ecosystem’s All Access store, locked to show support for artists, and used to incentivize ecosystem growth. For instance, the $MUSIC token within the Gala Music ecosystem can be used to purchase music tracks, concert passes, merchandise, and more.
$MUSIC is a Reward Token, distributed as rewards for specific actions or participation within the ecosystem. For example, in the Gala Music ecosystem, users can collect $MUSIC tokens for a variety of actions based on their platform engagement, as well as the popularity of owned and hosted tracks.
Governance Tokens give holders the right to participate in the decision-making processes of the platform. Holders can vote on changes, upgrades, or any other decision that affects the ecosystem’s future. While not explicitly detailed in the Gala Music Whitepaper, governance tokens are common in many web3 projects to ensure community-driven development. In the future of Gala Music, governance functions will eventually be added to the $MUSIC token, allowing holders to contribute to ecosystem decisions based on their $MUSIC held.
Security Tokens represent ownership of an asset, and are subject to federal securities regulations. They often represent stakes in a company, real estate, or other assets and offer dividends or profit-sharing. $MUSIC is NOT a security token, nor is ownership of $MUSIC an investment of any kind.
Non-Fungible Tokens (NFTs) are unique tokens representing ownership of a specific item or piece of content, often used in the music and art industries. Within Gala Music, tracks and All Access Experiences are often sold as NFTs, allowing fans to own a piece of their favorite artist’s work and share in the success. $MUSIC itself is considered a fungible token, meaning that a $MUSIC token is indistinguishable from any other $MUSIC token in terms of its use (similar to a US dollar).
Stablecoins are cryptocurrencies pegged to a stable asset, such as the US dollar or gold, in order to minimize price volatility. They are typically used within ecosystems to facilitate transactions without the risk of significant value fluctuations. Examples of stablecoins include USD-T(Tether) and USDC (US Dollar Coin).
As a cryptocurrency that can be held on either GalaChain or Ethereum, $MUSIC can be obtained by trading on a variety of exchanges where it is listed.
On GalaSwap, users can swap other GalaChain minted tokens (such as $GALA) directly for $MUSIC with no need to bridge tokens to Ethereum and navigate an external exchange. Simply log in with your Gala account credentials and you’re free to create and accept swaps at any time.
On Ethereum, you’ll find a list of $MUSIC markets at on CoinMarketCap along with the exchange pairings offered at those exchanges. Keep in mind that not all exchanges are legally accessible by residents of all countries, so be sure to check on your local and federal regulations before using a cryptocurrency exchange.
$MUSIC Rewards
$MUSIC is first introduced into circulation as rewards to artists, listeners, owners and Jukebox Node operators.
For Artists: One of the primary ways that artists benefit from producing their music with us is the generation of $MUSIC. $MUSIC generated based on platform and app popularity is entirely in addition to the 70% revenue share Gala Music artists enjoy from NFT track sales.
For Listeners: Even free users of the platform and app can stack $MUSIC rewards for simple actions like listening to new music on a daily basis, interacting with live events, sharing their favorite artists with friends and more. Part of the new $MUSIC generated each day into the ecosystem is reserved for what the Whitepaper calls “ecosystem supporting activities,” empowering fans to become superfans and build a collection in the process.
For Track Owners: Collecting reward enabled NFT tracks with Gala Music is a fantastic way to start gathering $MUSIC rewards, especially if you’re picking the most popular tracks and snagging digital copies before they sell out. Simply host your owned tracks by pairing them with active Jukebox Nodes to enable daily rewards based on their plays. The more plays each day for your track, the more $MUSIC you’ll get.
For Jukebox Node Operators: When you’re ready to become a real force in the decentralized world of music, you may decide to get licensed to operate a Jukebox Node. It’s easier than it sounds (your computer does the hard work), and without Jukebox Nodes forming our DePIN (Decentralized Physical Infrastructure Network), none of this would be possible. As such, Jukebox Node operators are rewarded accordingly, sharing in rewards from 10+ hosted NFT tracks at a time.
Using $MUSIC
This is where it gets really exciting: Spending those rewards. Everything sold on Gala Music can be purchased for $MUSIC, from the latest Mystery Boxes and All Access Experiences to NFT tracks, exclusive merch and Jukebox Nodes.
Most items can only be purchased for $MUSIC, so it’s a good idea to hold onto some if you want to be ready for the next drop.
Tipping Artists Directly
This is exactly what it sounds like. One of the most impactful things you can do for an artist whose music you enjoy is give them a tip. Gala Music makes it easy to send some $MUSIC to artists of your choice, letting them know how much you appreciate what they do.
Holding $MUSIC to Support Artists
At Gala, even the $MUSIC you’re holding can be put to use while you’re holding it. Using the Loyalty Pools program, you can lock in specific amounts of $MUSIC to support specific artists, directly aiding in their rise to the top and unlocking exclusive access benefits for yourself. Each of the (nearly 200 at time of writing this) Gala Music artists is invited to offer special benefits for loyalty support in the form of locked tokens, including special Discord community access, VIP concerts, early sale access, discounted track prices and more.
Gala Music is excited to announce the return of electronic hip hop artist Harry Shotta with his latest track “Growth (Gala Audiophile Edition),” releasing on June 5th. This marks Harry Shotta’s second track drop on the Gala Music platform, following his popular debut “Do What Ya Like” (produced by Macky Gee), which is still available in limited supply. Now is the perfect time to build a complete Harry Shotta collection as he continues to rise through the ranks of Gala Music’s elite artists.
Growth (Gala Audiophile Edition)
“Growth (Gala Audiophile Edition)” is a high-resolution, immersive listening experience where Harry Shotta takes us on a poignant storytelling journey of change, loss and hope based on true events. The second verse is particularly moving, as it honors his lost bandmate, Stormin MC, whose brave fight against cancer deeply affected the UK music scene. Produced by Erb N Dub, this track has been engineered for emotional clarity, ensuring every word and beat resonates with listeners.
Artist Bio
Harry Shotta is a Guinness World Record-breaking MC who has revolutionized the DnB scene, amassing over 100 million streams globally. Renowned for his boundary-pushing wordplay and creativity, Harry Shotta is a multi-award-winning artist who merges art, sound, and technology in unprecedented ways. From global performances with his SaSaSaS supergroup to innovative AR exhibitions, Shotta has garnered critical acclaim, establishing himself as a visionary force in both the music and mixed reality spaces.
Track Availability
“Growth (Gala Audiophile Edition)” will be available on June 5th. For $MUSIC supporters of Harry Shotta who have unlocked level 2 in his Loyalty Pool, the early access sale starts at 12pm PT. For everyone else, you can get yours starting at 1pm PT.
Don’t miss the chance to own this exclusive track and experience the emotional depth and clarity that Harry Shotta brings to his music.
Gala Music proudly presents the latest track from returning artist Ryan V, titled “New York City In A Day,” dropping tomorrow (June 4th) at 1pm PT. Level 2 $MUSIC supporters of Ryan V’s Loyalty Pool will enjoy presale access starting at 12pm PT and a 5% discount on the track!
This marks Ryan V’s 6th NFT track on Gala Music, with several of his previous releases still available while supplies last. Check out his other tracks at the links below!
“New York City In A Day” is a captivating piece inspired by Ryan’s first international journey to New York City. Spending an entire day and night in transit, Ryan was enchanted by the city’s vibrant energy, which he has masterfully captured in this song. Utilizing an alternate open tuning on the acoustic guitar to evoke a sense of movement, Ryan has also incorporated strings to enhance the song’s cinematic feel. This long-awaited track is now ready for its exclusive release on Gala Music.
Listen to “New York City in a Day” now on Gala Music
Artist Bio
Ryan V, formerly the lead vocalist of the South African band “The Waiting Room,” is now a singer/songwriter based in Cape Town. Following early success between 2006 and 2008, Ryan took a hiatus from music but returned with his solo single “Hope” in January 2023, which hit #1 on Radio Laeveld. The challenges of the 2020s, including the lockdowns, reignited his passion for music. Ryan now channels his thoughts, fears, victories, and challenges into his songs, sharing his journey and inspiring others. He is excited for the future and thrilled that his children can witness him living his dream.
Why You Shouldn’t Miss This
This Signature Edition is limited to just 100 copies, ensuring scarcity and a solid flow of $MUSIC rewards for any owners who host their tracks by pairing them with active Gala Music Jukebox Nodes.
This track was part of the first generation of tracks voted into the platform directly by the community through the new NextUp feature that puts the fans in control of what’s coming next. Everybody gets to vote, and new votes are live each and every week!
True empowerment of artists, fans and collectors means revolution in the music industry, and it goes beyond blockchain tech. It exceeds the innovative capabilities of digital assets made possible by web3 advances. It surpasses the expectations of today’s major record labels, whose executives care more about the bottom line than the relationship between artists and their fans.
At Gala Music, we understand that while artists make the music, fans make the music possible. This is why we’ve basically thrown out the traditional music industry’s playbook and created a new system that returns power to the artists and their fans.
One of the most important results of our rapidly growing web3 music revolution is the rise of our All Access Store, where we blur the lines between digital and IRL to bring you All Access Experiences.
Music is Meant to be Experienced
Directly supporting your favorite artists on Gala Music makes it possible for them to make music for a living– That’s the dawn of the new music world. It’s a world that breaks down the barriers separating artists from their craft, rather than building them up. It’s a world that rewards fans for encouraging the most deserving musicians, with multiple layers of incentives. Perhaps most importantly, it’s a world where music goes beyond listening, into the immersive realm of experience.
When you listen to a passionate musician’s track, you can step for a few minutes into their shoes to share both turmoil and triumph. By encouraging our artists to create and sell All Access Experiences, we’re giving you a chance to go even deeper, to immerse yourself in the passion that flows from your favorite sounds.
Check out some of the latest Experiences available in the All Access store, only available for a limited time and while supplies last!
All Access Experiences are limited supply, VIP items offered by artists through the Gala Music platform. So when you find an All Access Experience you like, you’ll want to secure yours as quickly as possible by purchasing the NFT in the All Access Store.
As an exclusive utility sink for Gala Music’s official token, All Access Experiences can exclusively be purchased for $MUSIC on GalaChain. When you generate $MUSIC rewards for owning and hosting tracks or for operating a Jukebox Node, your rewards are awarded as a GalaChain Mint Allowance, allowing you to mint directly to your GalaChain wallet at no additional cost whenever is convenient for you.
Once you spend your $MUSIC on the All Access Experience, you’ll receive a token that is redeemable for the actual experience or item offered. You’ll find your collected All Access Experiences in the “Experiences” area of your Collection page.
If the experience you’re redeeming involves a physical item, you’ll be prompted for additional information such as recipient name and mailing address at the time of redemption.
When physical items are involved, pay attention to the specific item details before purchasing. Some items are restricted by location, and not all physical items are available all over the world.
The power to directly support your favorite emerging artists in multiple ways is central to our vision of a decentralized world of music that elevates artists while empowering fans. One of the most effective ways to power the success of an artist is locking your $MUSIC in their support. Check it out!
Lock Your $MUSIC
Locking $MUSIC is a mostly symbolic gesture that takes only a small effort on your part, but can have a profound impact on the success and growth of your favorite Gala Music artists. By locking your $MUSIC, you’re letting the Gala Music world know that you care directly about the success of your supported artists. Rather than just holding your $MUSIC, you’re holding it for them.
The best part? It’s still absolutely your $MUSIC. You can unlock $MUSIC that is locked at any time and at no cost. The only things you’ll lose when you unlock your $MUSIC are the benefits that come with your support.
How it Works
Think of locking $MUSIC as a sort of voting system that allows all holders of $MUSIC to back the success of individual artists with the tokens sitting in their wallet. Thanks to the power of web3 and GalaChain, your wallet money doesn’t have to just sit there.
Follow these steps to contribute to an artist’s Loyalty Pool.
On any artist’s profile page, click Access Benefits to visit their Loyalty Pool.
Browse the artist’s benefit access levels in the tabs to the right.
Choose how much $MUSIC from your available balance you’d like to lock.
Finalize the free transaction with your GalaChain transfer code and verify.
You can lock $MUSIC in support of as many artists as you like, supporting them with any amount of $MUSIC you choose.
If you’ve been collecting a lot of $MUSIC rewards for owning and hosting tracks, listening to unique songs each day and sharing Gala Music with your friends, you’re probably prepared to level up your relationships with your favorite artists.
You can browse all artists on the platform directly from the Loyalty Pools page. In the Loyalty Pool box, look for this dropdown to freely search by artist, easily allocating your $MUSIC to the most deserving artists in minutes!
Benefits to Locking $MUSIC
Private Discord communities
Chances to connect with the artist
Presale track drop access
Discounted tracks
Higher tier benefits at the artist’s discretion
Never underestimate the power of presale access. Because all Gala Music track sales are limited in supply, it’s always a good idea to give yourself a head start!
Unlocking $MUSIC
When you’re ready to make a new purchase, unlock an All Access Experience or trade your $MUSIC on GalaSwap, unlocking your $MUSIC from an artist’s Loyalty Pool is easy. Under Access Benefits, visit your artist’s Loyalty Pool page and use the three dots in the bottom right to “Release $MUSIC.
That’s it! Your $MUSIC is then immediately ready to be used however you like but you’ll no longer have access to the Loyalty Pool benefits you had unlocked for that artist. Don’t worry– Those benefits will be waiting for you as soon as you lock your $MUSIC back in!
Locking $MUSIC in support of artists is one of the most innovative ways that Gala Music is empowering artists and fans to bring them closer together than ever before.
What are you waiting for? There’s a ton of new music to discover from emerging artists and established superstars alike on Gala Music. Go find your favorites and start locking in your $MUSIC rewards today!
