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Music app Geojam launches new crypto token $JAM on Lattice

By:
on Dec 6, 2021
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  • $JAM token presale raised $5.9 million through two private sale rounds
  • Launchpad enables the users of the social media music app to interact with artists directly
  • Blockchain technology makes sure fans and artists receive adequate compensation for the use of their ideas

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Geojam, a social media app for music, has launched its new $JAM crypto token on DEX Lattice, a launchpad powered by Constellation Network’s Hypergraph protocol, Invezz learned from a press release. The $JAM token presale raised $5.9 million through two private sale rounds.

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Revolutionizing community interaction

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$JAM is aimed to revolutionize the way fans and creators interact. Among the celebrity investors in Geojam are Mariah Carey and Nyjah Huston. The token’s release on Lattice will transform the creator economy by putting monetization and decentralized governance at the helm of social networking.

The launchpad enables the users of the social media music app to interact with artists directly and support them. This is possible thanks to staking pools and simplified mechanisms for a new-to-crypto user base.

Sarah Figueroa, CEO and co-founder of Geojam, commented:

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 favorite artists. $JAM reward incentives offer a key benefit to the community while also empowering artists to monetize their fandom.

Direct crypto payments remove barrier between creators and fans

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Geojam’s token will eliminate the barrier between creators and fans by enabling direct crypto payments, which will compensate both sides for their time and effort. Blockchain technology makes sure fans and artists receive adequate compensation for the use of their ideas and work thanks to a unique, unalterable ID, time stamp and rights information on the public ledger.

Justin Rosenbaum, Chief Growth Officer for Geojam, said:

Constellation brings the unique level of transparency that we need to directly connect artists with fans. The $JAM community 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.

Fans form an economy where they can earn $JAM cryptocurrency by engaging with the app and taking part in different activities, such as sharing music and streaming videos and inviting friends to join. Each creator can create a pool, where their fans stake their $JAM tokens for the opportunity to see their collaborative ideas come to life. That’s not all: fans can also use their $JAM tokens to buy merchandise in the $JAM shop.

Ben Jorgensen, CEO and co-founder of Constellation Network, shared:

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. We’re thrilled to have Geojam join our community and look forward to providing their user base with an unparalleled decentralized currency experience.

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