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Let’s Make Some $MUSIC

December 8, 2023
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The launch of MUSIC is almost here! Get caught up with the basics about the new token that’s your key to the Gala Music Ecosystem!

It’s been a long journey. But today, finally, it gives us incredible excitement to announce Gala Music’s $MUSIC Token. We’re so grateful to all of you for your patience, support and love while we built what we believe will transform the industry — enabling you to experience music more powerfully than ever before.

With $MUSIC, you’re not just listening to Gala Music’s unbelievable artists, you’re actively part of their story — playing a gamified music ecosystem that allows you to get closer than ever to the music you love. Discover precious undiscovered sounds, purchase tracks, and experience unprecedented rewards. There’s heaps more exciting stuff to come. But for now, let’s run through how $MUSIC works.

Heading: How $MUSIC Works

$MUSIC is your key to the Gala Music ecosystem. It can be acquired by supporting the Gala Music Ecosystem in various ways — supporting artists with track ownership, facilitating listens with Node ownership, or just exploring exciting new sounds.

With $MUSIC the possibilities are endless. If you discover an artist you love, then take your fandom one step closer by buying one of their tracks. As a track owner, you’ll accumulate $MUSIC every time it’s streamed. So if other users love it as much as you do, you’ll be looking at some epic rewards.

$MUSIC is a token on GalaChain, but it also is bridgeable to the Ethereum Network.

The Contract address of $MUSIC on the Ethereum Network is 0xD8c0b13B551718b808fc97eAd59499d5Ef862775.

Head to the All Access store, where you’ll be able to get unprecedented access to totally unique experiences with your favorite artists. We’re talking exclusive concerts, merchandise and collectibles… but also one-to-one dinners, visits to music studios, smoke-outs and much, much more.

For more details on the Gala Music Ecosystem, check our White Paper!

What will happen to BEAMS?

Bye bye, BEAMS. We’re converting these to $MUSIC at a 1/1 ratio — so if you have 3000 BEAMS racked up, we’ll replace them with 3000 $MUSIC. This will utilize 75 million MUSIC tokens, or half of the original supply planned.

Section 3.2 of Gala Music White Paper

So, everything that gave you BEAM rewards will now give you $MUSIC rewards through the GalaChain Allowance in your inventory!

The Future of Music

One of the best things about $MUSIC? It’s built on GalaChain, so the future possibilities are countless and very exciting indeed. This L1 blockchain was crafted with the needs of Gala Music in mind, and with the scalability it offers we’ve got all the growing room we need for this ecosystem!

Pretty exciting right? We’ll be dropping more information on our revamped blog soon. In the meantime, get out there and start making $MUSIC — your listening future is yours to control. Thank you for being on this journey with us. We can’t wait to jump into the next chapter together.