Despite the ongoing state of the general NFT and Web3 markets, some projects continue to soar regardless. Case in point, the breakout Gala Music platform announced that it broke the 5 million monthly streams barrier on the last day of August 2023.
While certain PFP collections have diminished in stature over the Months, music NFTs have proved a more enduring use for the technology. This is basically achieved by distributing tracks fairly and facilitating interaction between artists and fans, all without resorting to the astronomical fees normally associated with NFTs. As a result, Web3 Music platforms generally move away from the speculative side of NFTs, and focus instead on the accessibility side of operations.
As a testament to the rise of this new medium, Gala Music has revealed the progress it has made in its latest Monthly report. One of the highlights of which, has seen the platform register over 5 million monthly streams for the first time. This comes in addition to other eye-popping stats such as over 57k new accounts, 40k new listeners, and almost 24k holders of its test utility token, $BEAMS.
Last month, Gala Music went over 5M streams! Soft launched on March 28, 2023, we have now had 85 amazing artists release tracks on the platform, and August we saw another 57k more music fans join us. Register for an account today and start streaming music that’s truly free!…
— Gala Music (@GoGalaMusic) September 4, 2023
Gala Music’s Artists are the Real Stars of the Show
Gala Music could not have achieved these magnificent stats if it wasn’t for the high caliber of artists it has attracted to its platform. As a result, it saw 26 top-notch talents release tracks via Gala Music in August, with stand-out performers including, Emily Lazar, Wrighteous J, and Louis King.
In addition, Gala Music also saw the massive release of a long-rumored collaboration by rap maestros, Earl Sweatshirt and the Alchemist. A mesmerizing drop that was recently bolstered by integrating with another Gala product, Spider Tanks.
So, as we roll into September, it seems that Gala Music has hit on a winner with its free streaming platform, backed with purchasable, utility laden NFTs!
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Decentralised human, Explorer, Adventurer.