Mainstream social music application Geojam is going to integrate Constellation's technology Hypergraph Transfer Protocol (HGTP) and release its first native token, JAM.
Constellation Network will move Geojam's business operations to blockchain
According to the official announcement shared by Constellation Network, Geojam, a leading music social application for iOS-based devices, will utilize its blockchain solutions.
Excited to welcome @Geojammusic to the @Conste11ation family! Together, we'll continue to revolutionize the way artists & fans interact, meanwhile moving towards more mainstream adoption of #blockchain 🚀
Join the community👉 https://t.co/LAjGFpJYKT$LTX $DAG $JAM #HGTP pic.twitter.com/1lUWrnwxZe — Constellation Network (@Conste11ation) September 8, 2021
The Geojam platform is backed by a clutch of iconic artists such as Mariah Carey, 24kGoldn and Nyjah Huston. It attempts to assist artists in regaining control over their records through fan engagement practices and novel content distribution mechanisms.
Currently, Jam Points are utilized as metrics for popularity and engagement of supporters for every artist on Geojam. With the Constellation Network partnership, this rating mechanism will need to migrate to the blockchain.
As Geojam's financial model will integrate Constellation's Hypergraph Transfer Protocol (HGTP), Geojam will release its own cryptocurrency, JAM token.
JAM token will be listed on Lattice Exchange
Ben Jorgensen, CEO and co-founder of Constellation Network, stresses the paramount importance of the partnership for the entire community of Geojam:
We're thrilled to have Geojam join our community and look forward to providing their user base with an unparalleled decentralized currency experience.
Sarah Figueroa, Geojam’s co-founder and CEO, highly evaluates the role of JAM token in the tokenomics of his service:
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.
The product's native token, JAM, will be listed by Lattice Exchange. LTX native tokens will be required to purchase an allocation in the Geojam tokensale.