Purpose
This article aims to explain what POINTS are and how they relate to $MUSIC.
Assumptions Made
Gala Music - Hold $MUSIC Against Artists
Summary
Loyalty Points are a verifiable system that measures fan's dedication to their favorite artists. By holding $MUSIC tokens, fans can publicly demonstrate their loyalty, as the blockchain transparently displays the number of tokens held and the duration of ownership. Locking tokens for an artist does not generate returns and is not a form of "staking." Instead, it serves as on-chain proof of a fan's commitment to that artist.
Artists have the freedom to use a fan's Loyalty Point balance to grant their most devoted fans early access to unique experiences or exclusive opportunities. This allows artists to recognize and reward their most dedicated fans based on their holding of $MUSIC tokens.
Gala Music does not control or deliver the experiences offered by artists through All Access. The platform's decentralized nature empowers artists to identify and engage with their superfans independently, on their own terms.