Imagine coming up with a song idea, and everyone likes this idea very much, you can get support through encrypted tokens. You raise so many crypto tokens, and then your favorite artist decides to sing.
Sound crazy? This is possible-starting today.Yes, through popular social music apps jam you can do it.
It works like this: Geojam is an Apple iOS social streaming platform supported by artists such as Mariah Carey and 24kGoldn. It allows users to have an “interactive experience” with their favorite artists and share music with friends and other app users.
Today, it gave up its encrypted token $JAM.Released on Decentralized Finance (DeFi) platform Lattice Exchange Launchpad -Supported by the Hypergraph protocol of Constellation Network-Geojam users can earn, hold and mortgage tokens.
Using $JAM fans can guide their favorite artist’s music career
Do you have a good song idea for your favorite artist? Put $JAM in the “proposal pool” and if other users like it, they will support it. If enough support is obtained, the artist will compose a song. Anyway, this is the idea.
“Artists want to interact more deeply with their fans, and fans also show a desire to interact with their favorite artists,” Said Sarah Figueroa, CEO and co-founder of Geojam. “The $JAM rewards and incentives have brought important benefits to the community, while also allowing artists to profit from their fan circle.”
“Our crypto token allows artists and fans to use their collective influence in unprecedented ways to create new opportunities and provide them with a way to make money together,” She added.
The more $JAM tokens that fans invest in a particular creator’s pool, the better their chances of having a once-in-a-lifetime experience with the artist.
Geojam users can also earn $JAM tokens by participating in the app and participating in fan contests and missions-this can be as simple as sharing music and streaming videos.
This idea certainly gained some traction: before its release today, $5.9 million was raised through two rounds of $JAM private sales.
Geojam will run on Constellation Network Hypergraph
$JAM will run on the Constellation network—just like Bitcoin and Ethereum—the idea is that because the token has its own unchangeable ID, timestamp, and rights information, artists (and fans) will be rewarded for their work Get fair remuneration.
Justin Rosenbaum, Chief Growth Officer of Geojam said: “The $JAM community determines what happens on the platform, which means that artists and fans can work together to achieve common goals in our ecosystem and share rewards.”