The Present
Digital creation and distribution networks have given creators unprecedented capabilities to expand their reach. But with unprecedented capabilities also comes unprecedented dependency. Creators’ works are kept within the controls of the platforms they choose for distribution. Through this control, platforms have gained a monopoly on pricing creators’ works by keeping pricing power out of direct reach of the market. This leaves creators’ works largely undervalued as much of the value is accrued by the platforms themselves.
We believe that the solution to break free from legacy platforms is to create an open, decentralized protocol that allows for the free market to price works, instead of a handful of platforms. The solution would allow the direct collective actions of all users to price creators’ works continuously, unlocking more value for consumers and creators alike.
The Gallerii protocol at its core is a free market for creative works. Each work has a permanent market to enable perpetual price discovery, and has flexible terms of exchange for creators and buyers. Creators can set a permanent ownership stake in their works to receive a share of revenue whenever an exchange is made. Similarly, buyers can also share in revenue of a future trade.
Every second, consumers and creators make an uncountable number of choices about works they interact with. Every minute, platforms are aggregating and monopolizing these choices and leeching value from those who create it. Now, it’s time for creators and consumers to escape the confines of monopolistic platforms and enter the infinite world of their own Gallerii.
The Future
Gallerii is a perpetual pricing market for NFTs and a DeFi platform.
The Gallerii protocol represents works in the form of ERC721 tokens, the standard for NFTs. Gallerii establishes perpetual bid markets for each work that is created, enabling a liquid market for previously highly illiquid assets. Work owners do not have to manually list works for sale and can accept bids at any time. When a bid is accepted, or an ask fulfilled, revenue from the sale will be split amongst the shareholders. Shareholders for a work are limited to the owner, the previous owner, and the creator. All market data is accessible to any market participant.
Gallerii also utilizes cryptographic checks to ensure that works and their metadata is unique. The checks are enforced within the protocol and can be called at any time by any user.
Along with pure price discovery of a work through transfers, Gallerii will also implement voting mechanisms to allow users to voice their appreciation for a work without having to bid for ownership. Voting will performed through providing ART tokens to a specific work, with proceeds flowing to the creator.
Gallerii is designed to be a multi-chain protocol that will be deployed to EVM compatible chains first. Initially, Gallerii will be deployed to Binance Smart Chain (BSC), because of its low, accessible fees and significant adoption. As protocol adoption grows, Gallerii will also be developed for and deployed on emerging chains such as Solana.
Enter your Gallerii
Gallerii: https://gallerii.io/
Tweets: https://twitter.com/YourGallerii
Community: https://t.me/gallerii_hi
Details: https://gallerii.io/gallerii_litepaper.pdf
Code: https://github.com/Gallerii
Hi: hi@gallerii.io
