Gala Music (MUSIC): a small-cap dark horse, with a potential increase of 600% compared to competing products
远山洞见2024/08/16 11:10
By:远山洞见
I. Project introduction
Gala Music is a decentralized music platform based on blockchain technology, aiming to completely revolutionize the traditional music industry, give artists greater autonomy, and create a new music experience. Through MUSIC tokens, users can participate in various activities, including streaming media playback, purchasing music tracks, and operating Gala Music Jukebox, all of which can bring users rich rewards. The platform's MUSIC tokens can not only be used within the Gala Music ecosystem, but also can be exchanged for various exclusive goods and experiences in the All Access store, such as concert tickets, limited edition peripheral goods, and special interaction opportunities with artists.
Gala Music's goal is to free artists from the constraints of the traditional music industry, directly interact with fans, and gain more freedom in creation and income through its decentralized ecosystem. The platform hopes to attract at least 20% of global music listeners to participate in this new music experience in the next 2-5 years.
![](https://img.bitgetimg.com/multiLang/web/51526b53d06b1c2e2d273189787494f4.jpg)
II. Project highlights
1. Unique music ecosystem: Gala Music has built a decentralized platform through blockchain technology, breaking down the barriers between artists and fans in the traditional music industry. Artists can directly publish music, and fans can support their favorite musicians by purchasing and streaming media. This direct interaction and support model cannot be achieved by traditional music platforms.
2. Multiple uses of MUSIC tokens: MUSIC tokens are the core of the platform. By operating Gala Music Jukebox, purchasing music tracks, and participating in other platform activities, users can earn $MUSIC tokens. These tokens can not only be used within the platform, but also exchanged for exclusive goods and experiences in the All Access store, such as concert tickets and artist meetings. In addition, the supply and distribution mechanism of tokens combined with the active level and growth of the platform ensures the value and stability of the tokens.
3. Enhancement of Artist Autonomy: Gala Music aims to provide artists with greater autonomy and break the constraints of the traditional music industry. Artists can independently decide the publishing, price, and quantity of music, while obtaining transparent income distribution and Data Analysis through the platform. This autonomy provides artists with more freedom in creative space and fairer income distribution.
4. Powerful community participation mechanism: The platform has designed various mechanisms to encourage community participation and interaction, including rewarding popular tracks through "popularity algorithms" and providing rare music collections for early supporters. This community-driven model not only enhances user participation, but also helps promote and develop emerging artists.
5. Rich User Experience and Reward System: Gala Music is not only a music streaming media platform, but also provides a rich User Experience and Reward System. Through the STGE application, fans can interact with artists in real time, participate in LIVE concerts, obtain exclusive content, etc. At the same time, users can also obtain token rewards and exclusive benefits by participating in various activities in the ecosystem, which increases the attractiveness and user stickiness of the platform.
III. Market value expectations
Gala Music, as a decentralized music platform, breaks through the constraints of the traditional music industry, gives artists greater autonomy, and provides users with diverse interaction and reward mechanisms. The platform realizes a unique ecosystem through the $MUSIC token, allowing users to participate in streaming media playback, purchase music tracks, and enjoy rich rewards and exclusive experiences. Gala Music also enhances user stickiness through a strong community participation mechanism, helping the development of emerging artists. Overall, while bringing innovation to the music industry, Gala Music also creates more value and opportunities for users and artists.
According to real-time data from CoinGecko, MUSIC currently ranks 1064 in market value, with a fully diluted market value of 3.93 million USD and a total supply of 125 million tokens. Compared to music streaming media protocol Audius/music collectibles LMWR/fan platform CEEK for digital content creators in the same field, it has potential.
-CEEK: Fully diluted market value of 30 million US dollars, token unit price of 0.03U.
-LMWR: Fully diluted market cap 130 million USD, token price 0.2U
-Audius: Fully diluted market cap 155 million USD, token price 0.12U
If the MUSIC market cap is the same as CEEK/
LMWR/
Audius market cap, the MUSIC token price and increase are:
Benchmarking CEEK: The price of MUSIC token can reach 0.24 USD, an increase of 6.65 times.
- Benchmarking LMWR: The price of MUSIC token can reach $1.04, an increase of 33.09 times.
Benchmarking Audius: The price of MUSIC token can reach $1.24, an increase of 39.44 times.
IV. Economic model
MUSIC is the core token of the Gala Music ecosystem, which has been given diverse functions and powerful practicality by the official. MUSIC tokens are mainly used to purchase music NFTs, select artist peripheral products in the All Access store, and purchase nodes. In addition, MUSIC can also be used to upgrade node hosting tracks and serve as an important incentive tool within the ecosystem to promote the overall development of the platform.
The total supply of tokens is set at 1 billion, with an initial circulation of 150 million. Among them, 75 million MUSIC tokens come from test tokens, while another 75 million MUSIC tokens are officially minted and distributed to ecosystem operators. These tokens are designed to support ecosystem partners, platform activity participants, platform function development, and product launch.
In order to ensure the long-term value of MUSIC and maintain the sustainable development of the ecosystem, Gala Music adopts a token burning mechanism. MUSIC burns by purchasing goods in the All Access store and other ecosystem-related functions (such as STGE tips), thereby reducing the circulation supply of tokens. At the same time, as activities within the ecosystem increase, Mint subsidies will increase accordingly, forming a dynamic balance of coin minting and burning cycle mechanism to ensure the stable operation of the ecosystem.
The Mint Allowance Pool is responsible for releasing the initial circulation of $MUSIC. 0.15% of the 150 million $MUSIC will be released daily as an allowance, distributed according to the following ratio:
- 50% is allocated to the project party to support the continuous development and operation of the platform.
- 35% is allocated to Jukeboxes (nodes) to incentivize node operators to actively participate in the ecosystem.
- 25% is allocated to other participants in the ecosystem, including music NFT owners, platform users, etc.
- 10% is allocated to the artist in return for creating and promoting content on the platform.
- 5% is allocated to founder nodes to reward their early contributions to the ecosystem.
The daily release and distribution mechanism motivates multiple participants to promote the prosperity and development of the Gala Music ecosystem, while ensuring the supply and demand balance of MUSIC and maintaining the stability of token value.
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V. Team and financing
The CEO of Gala Music is Leila Steinberg, who has served as a marketing executive at several well-known music companies such as Atlantic Records, Sony, Def Jam, Tommy Boy, Interscope, and Relativity. Leila Steinberg not only has rich experience in the music industry, but is also widely known as the artistic mentor and first agent of the legendary US rapper 2PAC. 2PAC is widely regarded as one of the most influential and successful rappers in history, with profound influence in the Hip-Hop field and globally.
Although Gala Music has not publicly disclosed its financing situation, there are indications that due to US regulatory pressure, the company may choose to conduct disguised financing through node sales. This strategy not only provides financial support for Gala Music, but also helps the company maintain its stable business development in the current complex market environment.
VI. Risk Warning
1. The crypto market is highly volatile, and the value of tokens may be influenced by market sentiment and the external environment.
2. Gala Music is facing intense competition from the traditional music industry and other emerging blockchain music projects, and must maintain continuous innovation.
VII. Official links
Website:
https://music.gala.com/
Twitter:
https://x.com/GoGalaMusic
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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