Gala Music MUSIC

1. Summary

Ranks

Liquidity

87

Developer

-

Social

11

Momentum (beta)

17

Stack Rank™

-

Price

$0.05 +0.1%

Market Cap

$7.50M (#1581)

Supply

127.35M / 127.35M

Tags

Music Ethereum Ecosystem

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Price
52W High price	$0.28
52W High date	14th Dec 2023 (10 months ago)
All Time High (ATH) Date	14th Dec 2023 (10 months ago)
ATH Price	$0.30
% From ATH	-90.44%
All Time Low (ATL) Date	5th Aug 2024 (2 months ago)
ATL Price	$0.03
% From ATL	9.94%

Supply & Trading Volume
Trading Volume (24h)	$2.51M
Total Supply	127.35M
Max Supply	1.00B
Circulating Supply	127.35M

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Description

About Gala Music

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About Gala Music

Gala Music is a decentralized music platform utilizing blockchain technology to offer artists control over their music, transparency, and improved monetization. The platform allows artists to enhance control over their intellectual property and connect more closely with fans, providing a rewarding experience through direct connections to musicians, access, events, merchandise, and more. Gala Music is part of the Gala ecosystem alongside Gala Games and Gala Movies.

Key Features and Mechanics

• Token Name and Symbol: MUSIC

• Supply and Distribution: The maximum supply of MUSIC is 1 billion. Initially, 150 million tokens were circulated, consisting of 75 million test tokens and 75 million minted for ecosystem activities. The supply follows a dynamic model, controlled by a mathematical formula that aligns token supply with platform growth and utility, reducing over-supply and under-supply issues.

• Node Sales and Node Management: Node pricing is approximately 11,704 MUSIC. Nodes require 20 hours of uptime and can host 10 tracks. MUSIC tokens are used for node upgrades.

• Music NFTs and Ownership: Songs are turned into non-fungible tokens (ERC-1155 NFTs) on GalaChain. Fans can purchase NFTs, becoming song owners and earning MUSIC by hosting the NFT on a node. Nodes can host multiple tracks by using MUSIC tokens.

• Monetization and Participation: MUSIC tokens are used for purchasing NFTs, merchandise, and node upgrades. Fans can earn MUSIC tokens by streaming, redeeming them in stores, or trading on exchanges. MUSIC is burned through utility actions and ecosystem functions, maintaining a balance in the system.

• GALA Music Community: Over 93 artists are listed on the platform, including notable figures like Snoop Dogg. Fans can interact with artists and purchase exclusive merchandise on the platform's stores.

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