Reward-Based Music App — Geojam, Integrates Constellation Network: Constellation Network is expanding Geojam — a rewards-based music platform and app, with crypto. Note that last week, Constellation Network announced Geojam as its next incubation project.
Built to generate meaningful, passion-driven fan engagement, Geojam is entering the blockchain and cryptocurrency industry by integrating Constellation’s Hypergraph Transfer Protocol (HGTP).
To specify, working with Constellation will also allow Geojam to merge its existing point system onto the blockchain with the creation of its crypto platform token, JAM. The company further said that it will launch the JAM token later on Constellation-powered Lattice Exchange’s Launchpad.
Unlike the traditional method that is currently controlled by major labels, Geojam gives artists and creators the power to interact with fans directly. In short, they can share fandom with fans by creating a two-way value exchange. It means that the more a fan engages with an artist, the more the fan is incentivized.
According to the company, user engagement is measured with Jam Points, which can later be redeemed for rewards. This includes highly-coveted merchandise, once-in-a-lifetime experiences, and many more.
Not to mention, token holders can use JAM tokens to participate in many events on the platform. As a result, this will increase revenue for featured celebrities, allowing fans a deeper level of gamification.
What is more, Geojam investors could also help fund the project by staking Lattice’s native currency, LTX, to receive a financial allocation of the project. On the other hand, JAM token holders can also stake their tokens and receive rewards, including real-world events and prizes when the JAM token launches.
Moreover, both CEOs of the companies expressed their excitement about working together. Sarah Figueroa, Geojam’s co-founder, and CEO says,
Creating unique and impactful engagement between music artists and fans is what we do best. With $JAM, this is taken to a whole new level, as fans can now play a direct role in the trajectory of their favorite artists, while artists can leverage unique monetization and gamification strategies that are only possible with this token-economic model.
Also, Ben Jorgensen, co-founder, and CEO of Constellation Network notes that as a consumer app, it is vital for Geojam’s customer base to have the resilience, speed, and cost-effectiveness, which is typical of the Hypergraph.
To continue, Jorgensen adds, “We’re thrilled to have Geojam join our community and look forward to providing their user base with an unparalleled decentralized currency experience.”The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.