Gala Music is a music NFT and streaming platform. It has been launched softly in February 2022.
Fans can listen to music for free and buy NFTs on the platform. By purchasing an NFT, listening to songs and operating a node, they are able to get access to exclusive tracks, releases, merchandise and more. In addition, Listen-to-Earn rewards will be launched in the future, which will enable fans to earn “Gala Music Token” by listening to tracks from emerging artists.
A major feature of Gala Music is its network of Music Nodes. According to its official website, a Music Node is like a jukebox that the whole world can access. The platform is decentralized with no company in control, so Music Nodes host and stream music.
Music Nodes consist of two types of computers.
- Player Node : Hosting all tracks
- Fan Node : Hosting tracks created by a specific artist
In order to be a Music Node, you need to buy the license. If you run a node to support the ecosystem, you will be able to get rewards.
In the summer of 2022 (PHASE 2), Gala Music Token will be listed on exchanges and the beta version of the music player will be introduced. PHASE 3, the fall of 2022, represents the full implementation of the music player. During this phase, all node license holders will be able to operate their nodes.
(As of April 3, 2022)