Get ready for the Gala Film platform’s official Token Generation Event (TGE) scheduled for Thursday, December 5th, 2024. Gala Film has been making significant strides this year with its decentralized Theater Node network, exclusive content, NFT Moments, and more. The platform aims to revolutionize the video content industry by empowering filmmakers and viewers alike.
GALA and GalaChain
$GALA serves as the core gas token for the GalaChain ecosystem, which includes Gala Games, Gala Music, and Gala Film. It is essential for all transactional activity on GalaChain and is distributed daily to Founder’s Node operators. This rewards system helps power the decentralized ecosystem and ensures its scalability as GalaChain continues to grow.
FILM and Gala Film
Gala Film operates on GalaChain, utilizing its dedicated node network (Gala Film Theater Nodes) and blockchain infrastructure. $FILM, the platform’s fungible token, forms the core of the Gala Film ecosystem. It is designed to reward users and creators while facilitating the onboarding of new content and filmmakers.
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Distribution of $FILM
$FILM will be distributed daily to creators, viewers, and collectors within the Gala Film community. The distribution breakdown includes allocations for Theater Node operators, Founder’s Node operators, Content Creators, Moment NFT Owners, and Ecosystem Supporters, all contributing to the growth and sustainability of the platform.
Utility for $FILM
Aside from its reward distribution model, $FILM serves various purposes within the Gala Film platform. Users can utilize $FILM for boosting content, purchasing digital collectibles, participating in community pitching, and enabling commercial ad spends to reach the platform’s audience effectively.
Supply for $FILM
The maximum supply of $FILM is set at 500,000,000 tokens. The upcoming TGE on December 5th will introduce 100,000,000 $FILM allowances, representing 20% of the total supply. These allowances will be distributed to users based on their existing holdings of POPCORN! and POPCORN Buckets.
FILM and POPCORN!
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In 2024, Gala Film introduced POPCORN! as the initial utility token. Holders of POPCORN! will receive GalaChain allowances for $FILM at a ratio of 1 POPCORN = 10 $FILM during the TGE. Following this distribution, POPCORN! and POPCORN Buckets will no longer have utility, and $FILM will be the primary token within the ecosystem.
Exchanging $FILM
Users will have the ability to exchange $FILM tokens on GalaChain using GalaConnect (formerly GalaSwap). While centralized exchange listings are not confirmed, $FILM is expected to be available on GalaConnect shortly after launch. This feature enables users to swap $FILM for $GALA, providing flexibility and accessibility to all participants.
FAQs
Q: What is the purpose of the Gala Film platform?
A: Gala Film aims to revolutionize the video content industry by empowering filmmakers and viewers through its decentralized ecosystem.
Q: How is $FILM distributed within the Gala Film community?
A: $FILM is distributed daily to various stakeholders, including Theater Node operators, Founder’s Node operators, Content Creators, Moment NFT Owners, and Ecosystem Supporters.
Q: What can users do with $FILM on the platform?
A: $FILM can be used for boosting content, purchasing digital collectibles, participating in community pitching, and enabling commercial ad spends to reach the platform’s audience.
Q: How will the Gala Film TGE impact the token supply?
A: The TGE will introduce 100,000,000 $FILM allowances, representing 20% of the total supply, which will be distributed to users based on their existing holdings of POPCORN! and POPCORN Buckets.
Q: Where can users exchange $FILM tokens?
A: Users can exchange $FILM tokens on GalaChain using GalaConnect, allowing for peer-to-peer swaps to and from $GALA.
Credit: news.gala.com
