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Gala Film announces launch date for $FILM, its upcoming token

Gala Film announces launch date for $FILM, its upcoming token

The coming attractions are nearly over, and it’s almost time for your Feature Presentation.

Gala Film has rewritten the playbook for the web3 era, building a free platform that enhances the watching experience for fans while empowering filmmakers to create anything their imagination can manage.

Gala Film’s revolutionary plan is fueled by a single upcoming GalaChain token: $FILM. And we’re pleased to announce that an official date has been slated for its release.

$FILM is coming on December 5th, 2024.

What is $FILM

Gala Film is an ecosystem built on the web3 infrastructure of GalaChain, a blockchain built specifically to meet the fast-paced demands of entertainment industries like Games, Music and Film. As a dedicated GalaChain network, Gala Film’s vision centers around $FILM, the platform’s official reward and utility token.

$FILM will be:

  • Collected as a reward for multiple levels of participation.
  • Used to boost promising projects and unlock exclusives.
  • Harnessed to fund a future of decentralized video content and usher a new creative era.

But that is only the beginning of the story. Keep watching.

Doing More with Film

What if you could do more than just watch your favorite films and series. What if you could own pieces of them, powering the experience for viewers just like you and collecting tangible rewards in the process. The ad-free viewing platform of the future is powered by users within the decentralized network.

Participation is its own reward, especially when you don’t even have to buy a ticket to enjoy the show. But for those who want to take their film experience to the next level, it goes far beyond simply participating.

  1. Watch and Unlock

Gala Film content is free to watch for all viewers. By enjoying new episodes and movies, fans can sometimes collect special rewards like Mystery Boxes, which contain shards that when collected and combined, unlock exclusive content they won’t find anywhere else. Instead of making you pay to watch, we’re giving you something they can treasure.

  1. Own and Collect

Fans of specific Gala Film projects can support those projects directly by becoming a Moment owner. Moments are Gala Film NFTs, unique tokens that can be collected, transferred or exchanged on secondary markets. When you own a Gala Film Moment NFT, you collect a share of that content’s generated $FILM rewards each day based on its platform success.

  1. Power the Network

By owning and operating a Gala Film Theater Node, community members can become producers, powering the decentralized network that delivers content and works behind the scenes of the platform’s complex web3 ecosystem.

Anyone with a computer and a good internet connection can become a licensed operator of a Theater Node. Ultimately as GalaChain moves toward full decentralization, Theater Node operators will have the option to tokenize their Theater Node licenses, making it possible for operators to transfer and exchange those tokens on secondary markets.

  1. Create Something Extraordinary

The empowerment of creators lives at the core of everything web3 can do for the film industry. Where film funding and filmmaking have always been notoriously difficult to “break into,” GalaChain is flipping the script by making it possible for anyone with a vision to make their creative dreams come true. You’ll love Pitches, made possible by $FILM.

Keep the POPCORN! Coming

Throughout 2024, POPCORN! Has been collected as the official placeholder token for $FILM. With the $FILM TGE (Token Generation Event) on December 5th, the Gala Film community will finally have the ability to convert their collected POPCORN! and POPCORN! Buckets into the new token at a fixed rate.

Look for more details about this conversion process as the TGE draws nearer in the Gala Film Discord community, blog and social media channels.

We hope you’re as excited as we are for the future of Gala Film and its new reward and utility token.

$FILM is coming on December 5th, 2024.

The Results of Gala Film’s Inaugural Theater Node Governance Votes

The Results of Gala Film’s Inaugural Theater Node Governance Votes

Recent News

We are thrilled to announce the completion and results of Gala Film’s first two Theater Node governance votes. Marking a significant milestone in our journey towards a more decentralized and community-driven platform, our community of Theater Node operators has spoken, and their decisions will play a crucial role in shaping the future of $FILM tokenomics.

The Votes

The two governance votes focused on key aspects of $FILM tokenomics:

  1. Maximum Boost for Film Projects
  2. Distribution Method for $FILM Tokens

Voter Participation

We extend our heartfelt thanks to all Theater Node owners who participated in these votes. A total of 249 Theater Node operators cast their votes, with a total of 508 participating Theater Nodes. This strong turnout underscores the dedication and engagement of our community, and we hope to further increase the involvement and engagement of our valued Theater Node operators in the future.

Results

Vote 1: Distribution Method

With 58% of the votes, the community has decided to keep the current distribution method based on the prior day’s activities. This means that the daily minting of $FILM tokens will continue to be determined by the previous day’s ecosystem activity.

Vote 2: Film Boost Reward

With 43% of the votes (winning share), the community has chosen to set the Film Boost at 3X. This decision means that once a film reaches the Boost cap, each view will count as three views when calculating daily $FILM distribution.

Next Steps

These decisions will be incorporated into the Gala Film Litepaper and applied to the platform. We believe that these choices will foster a more dynamic and rewarding ecosystem for all participants.

We are immensely grateful for your continued support and participation in shaping the future of Gala Film. Together, we are building a more empowering film industry.

Stay tuned for more opportunities to have your voice heard in upcoming governance votes. Your participation is crucial in our journey to revolutionize the world of film through the power of blockchain technology.

Thank you again for voting and for being a part of the Gala Film community.

Interested in operating a Gala Film Theater Node of your own?For more information, visit Gala Film and read the latest updates in the Gala Film Litepaper. Let’s continue to build the future of film together!