Following last week’s launch of $GSWAP, the official token of GalaChain’s official decentralized exchange protocol, we have more exciting GalaSwap news.
Our engineers have completed implementation of $MUSIC, Gala Music’s official token onto the GalaSwap platform, essentially making $MUSIC tradable within the GalaChain ecosystem. While the intentions to add this token were announced with GalaSwap’s V1 launch earlier this year, we did not know how long its implementation would take. We’re pleased to announce that our GalaChain engineering team has exceeded expectations and $MUSIC is now fully tradable on the platform.
Login with your Gala account now at GalaSwap.Gala.com to start trading $MUSIC and getting $GSWAP.
How to Get $MUSIC
$MUSIC is the lifeblood of our rapidly growing decentralized world of music, on a mission to empower artists and fans like nothing else in the world.
With one of the latest Gala Music platform updates, it’s now easier than ever to get some $MUSIC of your own, whether or not you’re an NFT owner. Community is everything in the new world of web3 music; Fans make it possible for artists to keep making music, artists make it possible for fans to become superfans, and community is the empowering tie that binds us all together.
According to the Whitepaper, 25% of generated $MUSIC is currently reserved as a reward for users who support the ecosystem in various ways. You’ll find a specific list of the rewarding actions here.
Listen for Rewards
Each day, the number of unique tracks you listen to equates to a point value that represents your share in the day’s $MUSIC reward distribution for ecosystem supporting actions.
Discover the latest Gala Music
Share for Rewards
By sharing your Gala referral link with your friends, you’ll qualify for rewards when they take certain specific actions to empower themselves and support the ecosystem. Easily share your favorite songs and artists on social media– Whenever someone creates an account as a result of your share, they’ll be automatically connected to you, giving you a shot at some additional $MUSIC reward points!
Host the Music
Become a powerful force in the Gala Music ecosystem by operating a Jukebox Node to generate regular $MUSIC rewards for hosting NFT tracks on the platform. Whenever a hosted track is listened to, rewards are generated for the artist who created it, the collector who owns it, and the Jukebox Node operator who provided the computing power to host it!
Own the Music
Becoming the owner of NFT tracks from your favorite artists is a simple and consistent way to share in daily $MUSIC rewards based on how many times your track was played in a 24 hour period. To unlock these rewards, just pair your NFT track with one of the active Jukebox Nodes on the network for no additional cost.
