Meet $GLF: Gallery Finance Community Token
We at Gallery Finance believe that the power of NFT creation should belong to the community, and all participants should be rewarded for their efforts.
To implement this vision, we are introducing $GLF token, a key element of Gallery Finance ecosystem. Its main purpose is to incentivize the community to participate in NFT creation and distribution.
$GLF is a utility token, meaning that it unlocks the key features of Gallery Finance for users. Thus, holding $GLF provides you access to:
1) Customized art workshops
Unlike existing NFT marketplaces that only let you purchase existing artworks, Gallery Finance allows you to vote for custom art you want to see created.
Participants can stake tokens to create customized workshops with any theme they would like artists to work on. To propose a themed contest, you need to stake 100 $GLF tokens for 4 consecutive days.
For the first Gallery Finance workshop, artists will paint 10 real or imaginary public personalities of your choice. Stay tuned for the official announcement with more details!
To participate in workshops, artists need to stake 10 $GLF for each artwork they would like to submit. $GLF token holders can vote for submitted artworks to choose the best ones that will be rewarded and turned into NFTs.
Proposers and voters of winning artworks will share 10,000 $GLF among themselves. At the end of each workshop, Gallery Finance creates NFTs for the winning artworks.
These community-created NFTs will be truly exclusive. Participants will be able to stake $GLF tokens to mine reward points and redeem them for the NFT cards.
Once you get your unique NFT, you can hold it or sell it on a decentralized auction like Superrare (for USDT / GLF / ETH) within the Gallery Finance ecosystem.
2) NFT generation
In addition to workshop, you can generate your own NFTs through Gallery Finance. Transaction fees are paid in $GLF tokens.
3) NFT Auctions
The core philosophy behind Gallery Finance is that the artist should also be rewarded. That’s we we allocate 30% of transaction fees from all the auctions to the original creators of NFTs. When you create a great art piece, you will earn money from its every consecutive sale.
Other 30% of transaction fees will be used to purchase GLF tokens, and the 40% will be put into artist fund to finance future workshops.
4) Exhibition hall
If you want to display your art and let people enjoy it, this is the place: Gallery Finance lets artists showcase their artworks via decentralized storage, even if they don’t have immediate intention to sell. This is the place where Gallery Finance community comes together. Tell your story and share your thoughts about the art you have created.
All fees for exhibition and storage will be paid with $GLF tokens, 50% of Transaction fee will be burned in GLF tokens and 50% will be put into artist fund to finance future workshops.
IMPORTANT NOTICE
$GLF has a total hard cap supply of 30k tokens and the token model is deflationary along the development with burning mechanisms.
All tokens will be distributed to participants through the first workshop and liquidity staking. $GLF is a purely community token, and won’t be available to investment prior to launch.
The official launch date will be announced soon. Join our channels to learn the news first:
Community chat: https://t.me/gallery_finance
Official Twitter account: https://twitter.com/FinanceGallery
Telegram news channel: https://t.me/galleryfinance
