By
Kseniia Klichova
March 5th, 2024
Both artists and the public are seeing the benefits of joining the ecosystem – the Web3 decentralized character allows for user input and ownership.
Music is now one of the many areas that NFT adoption is sweeping over. More musicians, DJs, and vocalists are using blockchain technology every day. NFTs, or non-fungible tokens, are made to be distinctive digital goods. They are virtual objects that mimic real things like music, video content, artwork, and other in-game components. They are, in other words, digital certificates that are stored on a distributed database that is open to public inspection. Music NFT has both a musical and a visual component.
Entering this new space is Gala Music, a new decentralized, blockchain-based music network. Gala Music boasts an NFT shopfront, a decentralized distribution network run by fans, and a platform for streaming music NFTs. Gala Work, in contrast to conventional labels and streaming services, offers its artists complete control and ownership of their music in addition to monetary compensation through NFT drops and streaming.
It is due to these rewards that Gala is rising in popularity so quickly. The platform is listen-to-earn, meaning by streaming the music library, it is possible to earn money. Each artist and group are different so the extra perks will vary depending on the streamed song and artist. The rewards will come in the form of the platform’s own digital token, called $GMUSIC.
Both artists and the public are seeing the benefits of joining the ecosystem – the Web3 decentralized character allows for user input and ownership. Seeing how fast Gala Music is growing, many bands and single performers are joining the platform. Examples of the industry’s heavyweights include Snoop Dogg, Kings of Leon, Bassjackers, and Mount Westmore. However, new upcoming artists are the ones benefiting the most from joining Gala – they have a new and bigger space to explore.
And to celebrate these new artists joining the platform, Gala organized an event in London, United Kingdom. The event – Gala Music Live – took place on October 28th, during which the Web3-powered global streaming service welcomed some of the best emerging talents on the planet. Gala Music’s idea was to allow their loyal user base to enjoy amazing artists before the rest of the world discovered them. All performers had their sets captured, and transformed into digital certificates, allowing fans to support them with their highly limited NFT track, dropping exclusively on the platform.
What do you think? Are you interested in listen-to-earn and music NFTs? Are you interested in Gala? It is a revolutionary new industry and joining now is looking like a promising investment.
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