- Summary:
- Geojam, a music app, recently announced the launch of its new cryptocurrency token, $JAM, via Lattice Exchange Launchpad.
Geojam, a music app, recently announced the launch of its new cryptocurrency token, $JAM, via Lattice Exchange Launchpad, a decentralized platform run by Hypergraph protocol from Constellation Networks.
$JAM is a cryptocurrency token aimed at revolutionizing how content creators and their consumers interact.
$JAM token raised $5.9 million in two private sale rounds.
Geojam is an iOS that was launched in October 2020 and has many users and celebrity investors like Nyjah Huston,24kGoldn and Mariah Carey.
The introduction of $JAM on Lattice Launchpad is set to revolutionize the creators economy by using decentralized monetization and governance and making it the centre of social networking. The launchpad enables the $JAM holders and Geojam users to interact with the creators. This is made possible by mechanisms and staking pools made easier for the new crypto user base.
CEO and co-founder of Geojam, Sarah Figueroa,
Our crypto token allows artists and fans to leverage their collective influence in a way that’s never been done before to build new opportunities and provide a way for them to earn together. Artists want to engage deeper with their fans, while fans have also demonstrated a desire to engage with their favourite artists. $JAM reward incentives offer a key benefit to the community while also empowering artists to monetize their fandom.”
The introduction of Geojam in the blockchain space will take down barriers between content creators and fans and facilitate compensation for both their time, art and engagements with direct cryptocurrency payments.
Chief Growth Officer for Geojam Justin Rosenbaum,
Constellation brings the unique level of transparency that we need to connect artists with fans, The $JAM community directly is who decides what happens on the platform, meaning artists and fans can work together towards common objectives within our ecosystem and share the rewards.”
$JAM has a crowd governed foundation, which makes it deliver value to content creators and fans. Each creator creates an economy where fans earn $JAM crypto by engaging in tasks and competitions like streaming videos inviting people to join, and sharing content.
Fans can also make in-app purchases using $ JAM tokens.
Creators can build a pool where fans in their crowd are allowed to stake the $JAM tokens.
The interest of staked tokens is calculated as annual percentage yield and is advanced to the content creator and fans as $JAM tokens. Fans who stake more increase their chance to earn once in a lifetime experiences with the creator.
The users can stake the $JAM tokens in proposal pools, where they suggest ideas for the content creators to be offered through the application. If the creator uses the ideas, the participants receive rewards on their staked $JAM. The experiences will be featured as Geojam offerings in the creator’s circle or pool. The Hypergraph allows creators to harvest NFTs with zero fees which is its unique feature.
Ben Jorgensen, CEO and co-founder of Constellation Networks, said
As a consumer application, it is essential for Geojam’s customer base to have the resilience, speed and cost-effectiveness that is characteristic of the Hypergraph, and We’re thrilled to have Geojam join our community and look forward to providing their user base with an unparalleled decentralized currency experience.”
Investors can now buy a $JAM token at the first public sale via the Lattice Exchange Launchpad by buying and staking Lattice’s $LTX tokens to book their spot.