Can you imagine having a video call with Mariah Carey, flying on a private jet with 24KGolden, and skating with Nyjah Huston? Nowadays you can do that with GeoJam. It’s a platform that allows fans like you an opportunity for two-way dialogue and interaction with celebrities.
In the process, you and the creators get to monetize with $JAM tokens. Also, one of the most notable things about GeoJam is that it has already proven the setup works. However, does $JAM have a solid utility in the setup, does it have the right tokenomics? Let’s find answers to all these questions in this article.
What is GeoJam?
We all have created some kind of community on different social media platforms and so have many artists. But one of the biggest limitations is that such a community does not generate many other ways of monetization for the artist. And the only reward for fans is that they can just consume these products/services which limit their engagement.
Therefore, thanks to GeoJam, has made it possible for artists and their fans to engage in a two-way interactive relationship.
The monetization works in two ways:
- Fans earn JAM points by participating in the artist’s activities that are then returned to the artist as JAM tokens.
- Artists, in return, give the option to fans to have NFTs, merchandise, or real-world experiences.
GeoJam, created in 2021, has made it possible that a fan can have a video call with Mariah Carey, or that a fan can have a New Year’s weekend with Tinashe, among other very cool real-world experiences. Also, this platform was built on Ethereum’s blockchain.
More About GeoJam
However, these experiences won’t be focused only on music artists. GeoJam is planning to expand to other industries like sports, art, crypto, gaming, fashion, film, and TV. Right now, GeoJam is available in its iOS version, and you can get early access to the Android release on the website.
Moreover, Here are some features:
- Governance voting through our proposal pools.
- $JAM Token holders give access to unlock exclusive & one-of-a-kind experiences, NFTs, content, merch, and more.
- Content Operators, democratize content moderation and reward the token holders running these nodes.
On the other hand, GeoJam works with the Constellation Hypergraph Network. It’s a new NFT standard that doesn’t require gas fees to transfer NFTs in GeoJam’s NFT marketplace.
A message from our Executive Advisor @MariahCarey $JAM https://t.co/drGM3eFuyS
— geojam (@geojamofficial) April 4, 2022
Nowadays, the platform has more than 3000 active addresses. where the iOS app is live a year ago. Also, GeoJam has an emerging artist program where artists have access to GeoJam which will provide the internal and external resources with a new level of fan engagement. This will expand their fan base.
Also, Geojam has a Jambassador program. Here, the platform has the most talented and unique influencers that can help to promote its brand. On the other hand, you can use your JAM tokens with the following platforms:
- JAM Shop: With the JAM points you earn interacting with your artist’s social media accounts, you can get personalized items, which makes creators gain exposure. The JAM Shop retail increases depending on its demand.
- JAM Competitions: Artists create competitions to let their fans can interact with their material. Therefore, users can get JAM points. These competitions have a very high value because artists have a very high ROI
- JAM staking pools: Nodes that provide liquidity get rewards with a % of the block’s fees. So, people need to stake JAM tokens to participate. There are two kinds of pools:
- Proposal Pools: Pools for governance decisions. People need to stake JAM to participate.
- Creator Access Pools: This is a pool made by users that are rewarded for staking JAM.
GeoJam Tokenomics & Competitors
$JAM is the native token of Geojam where worldwide celebrities get rewards. Also, $JAM provides tools for community governance through a direct user experience. Moreover, only 12% of JAM tokens are provided for the team. 40% to community rewards, 20% to token sales, and 10% to advisors.
Moreover, fans earn JAM tokens who participate in proposals and creator access pools Therefore, artists, who participate in a pool, establish rewards. Also, there are four ways to purchase the JAM tokens:
- Stargazer Wallet: This wallet is integrated with GeoJam mobile app.
- Centralized and Decentralized Exchanges: You can buy JAM in KuCoin and Uniswap.
On the other hand, two platforms are considered competitors: Bitclout and Rally. Bitclout is an open-source crypto social network where every artist has a token that you can buy/sell. In addition, Rally is a platform where artists can launch their token to make their community can use it and have another source of income.
However, neither of the mentioned initiatives makes people get truly close to their artists. That’s why what makes GeoJam different is the opportunity to make artists and fans interact directly via personalized real-world experiences.
Nowadays, Geojam has more than 100 artists from different sectors using the platform. Therefore, the goal of GeoJam is to target a mainstream audience by attracting the next 100 million JAM token holders. Finally, the biggest risk is speed and regulation, In other words, GeoJam is having so much engagement that it may sacrifice some of its potential to grow steadily.
Roadmap & Recent Developments
According to the roadmap, The Jam portal will be released on April 1st with staking, creator access pools, and community governance in development. Also, Content Operator will be launched this month. In other words, they are active nodes that will have certain rewards. Look at its social media accounts for more details.
Moreover, Geojam 2.0 will be coming soon. In Q2-2022
- GeoJam 2.0 Launch (Include UX/UI, mobile wallet, creator access, etc.)
- User creator access pools.
- NFTs on Constellation.
- NFT Marketplace, etc.
On the other hand, GeoJam has very prestigious investors like Galaxy Ventures, Crypto Lotus, Ethos, KuCoin Labs, GSR, Proof Capital, Ghaf Capital, and Alphabit. Moreover, here is some of the latest news about GeoJam:
- Recognized on Fast Company’s World’s most innovative companies (#10 in Music)
- Featured in The New York Times for our pivot during the pandemic.
- A $5.9 million pre-sale with strategic partners such as KuCoin Labs and Galaxy Ventures.
- Partnerships with A-list celebrities.
Finally, we are increasingly seeing the importance of communities in all types of personalities. So GeoJam is a solution that not only allows them to provide a new type of monetization to artists through the application of tokens and NFTs but also to enlarge it and make it more and more loyal.
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