Gala Films has announced the forthcoming transition of POPCORN! to $FILM, a move aimed at energizing the decentralized entertainment landscape. $FILM is positioned to become the primary currency within the digital ecosystem, facilitating rewards and project support for members.

Although $FILM is not yet operational on GalaChain, the rollout strategy is detailed in the Gala Film Litepaper. The conversion from POPCORN! to $FILM was expected, as POPCORN! was initially introduced as a reward for early supporters. Screen Node operators will witness their holdings transitioning based on their current token balance, with the proposed conversion offering 10 $FILM tokens for each POPCORN! held, plus bonuses based on the size of their POPCORN! Buckets.

POPCORN! will remain the initial reward token, incentivizing users to mint more $FILM tokens. This approach not only adheres to the conversion ratio but also accounts for bonuses tied to bucket sizes.

$FILM's introduction aims to establish it as the utility and reward token within the Gala Films ecosystem. Users can leverage their holdings to support film projects, participate in platform governance, and earn rewards. Support for film projects and rewards distribution will be in $FILM tokens, with users eligible for rewards upon demonstrating platform engagement through activities like content interaction and film viewing.

Platform governance grants holders of $FILM the authority to vote on ecosystem decisions, shaping the future of Gala Film towards democratizing film projects. Rewards are accessible to artists, viewers, and collectors, with initial utilities including film pitch creation, backing pitches, purchasing screen nodes, items, and engaging with creators. More utilities are expected to be announced by Gala Film in the future.

Reward distribution is slated to occur daily, varying based on user engagement within the ecosystem. Opportunities to earn $FILM rewards include operating as a node, content distribution, incentivization, and ecosystem support. Positive contributions aligned with Gala Films' mission are essential for reward eligibility. Node operations involve providing decentralized storage and computing capacity.

Looking ahead, Gala Films is gearing up for its feature presentation and plans to introduce more attractions in the future.