By
Ibukun Ogundare
June 14th, 2023
Gala Music, a new decentralized, blockchain-based music network, is one of the companies that is making an entry into this newly emerging, revolutionary sector.
Music is now one of the many areas that NFT adoption is sweeping. As there are obvious benefits for both musicians and their fans to use blockchain technology, more and more bands, DJs, and vocalists are beginning to do so every day. Utilizing NFTs enables the autonomous generation of economic benefits through certain platforms. Since there are no longer any middlemen in this system, musicians may interact directly with their audience while also selling their items.
For instance, in recent years, Snoop Dogg has been a vocal supporter of non-fungible token (NFT) technology. In addition to admitting that he was a crypto whale and possessed millions of NFTs, Snoop is a fervent supporter of the advantages of owning these digital assets. According to him, “Imagine me taking one of my classic tracks that you love to death, and you’ve always treasured it, and it means so much to you. You now have the authority to acquire it, to claim it as your own, to sell it and to profit from it.”
To explain it better, 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.
Gala Music, a new decentralized, blockchain-based music network, is one of the companies that is making an entry into this newly emerging, revolutionary sector. Gala Music boasts an NFT shopfront, a decentralized distribution network run by fans, and a platform for streaming music NFTs. Gala, 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.
Being an industry leader, Gala caught Snoop Dogg’s attention. This motivated Nick Adler, the brand manager for Snoop Dogg, to join the recently established Gala Music advisory board, announced earlier this month. This brings the rapper and Death Row Records even closer to the blockchain.
It’s interesting to see artists like Snoop Dogg and his associates still breaking new ground in music, not just creatively, but paving a new path for the modern artist in fair compensation and additional creative control. We expect that both Gala Music and Death Row will grow immensely from this experience and learn from each other’s expertise in this new field.
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