Recapitulation of GeoJamMusic PROJECT AMA event held at AMA LOVERS CLUB.

Venue: https://t.me/amaloversclub
Date: Monday, 25th October, 2021
Time: 14:00 UTC

The GeoJamMusic PROJECT team was represented by @Geojamsam and @Sarahfig who judiciously shared with us detailed knowledge and information about GeoJamMusic PROJECT.

1st Segment: INTRODUCTION

Q1: Can you please introduce yourselves and your background, also introduce the team working on GEOJAM?

ANS: After exiting my first company at 20, and Sam serving as COO at a seed capital investment fund where he invested in 64+ companies, Sam and I met when I was running a music sponsorship agency for Fortune 500 Brands and Sam was producing major music festivals. Together, we saw that there was a huge gap in the market between fans, brands, and artists.

Launched in 2020, Geojam is a social engagement platform that has already generated meaningful, passion-fueled fan engagement with celebrities and backers such as Mariah Carey, Machine Gun Kelly, and Nyjah Huston. In one year, Geojam has garnered tens of thousands of users across iOS devices and has served as a bridge for fans to engage directly with artists, athletes, and influencers in the world of music.

With our native token, $JAM, our vision is to build the creator economy of the future that redirects the flow of incentives back into the hands of the creators and users themselves.

You may ask what’s the Creator Economy?

The $104+ Billion dollar Creator Economy is rapidly defining the future of digital work as nearly 50M+ individuals, ranging from social media influencers, celebrities, artists, YouTubers, and athletes, are building out new monetization strategies alongside loyal followers.

@Geojamsam you would like to introduce yourself?

ANS: Hi Everyone. I’m the COO and Co-Founder of Geojam. I have been working in the music & tech industries for the past 15 years and am very passionate about what we’re building at Geojam.

Q2: Can you introduce GEOJAM , what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?

ANS: Over the past 20 years, digital advertising drove online monetization strategies creating multi-trillion dollar social media empires at the expense of their users. Influencers began to emerge as rockstars. Now we are experiencing a massive shift in the exchange of value between content creators and the platforms that profit from them: creators are gaining authority over user bases to drive engagement while networks are failing to compensate appropriately; users are immune to digital advertising but are increasingly loyal to the creators.

Geojam solves this problem through $JAM, our cryptocurrency, which unlocks incentives to all stakeholders involved in the creator economy.

In its current iteration, Geojam is the ultimate social media platform for music. Users simply connect their existing Spotify or Apple Music account to sign in and begin earning Jam Points for engaging on the platform which can be redeemed in the Jam Shop for highly-coveted platform-exclusive merchandise and once-in-a-lifetime experiences such as, taking a fan on a private jet to their hometown, playing video games, designing apparel, one-of-a-kind memorabilia, and more.

The next evolution of Geojam lies in increasing the opportunity for artists and users alike by capturing and storing the latent value in the current exchange of experiences. But it won’t just be with music…. The $JAM token will actively expand Geojam to every industry that harnesses influence, including sports, art, cryptocurrency, gaming, fashion, film, and television.

With the inception of our cryptocurrency, $JAM, we combine the technological advancements of decentralized finance with real-world experiences while interweaving the ethos of autonomous cryptocurrency communities and mainstream social networking.

Q3: Only recognized music platforms will be just Spotify and Apple music? Any plan to expand to accommodate none Apple users?

ANS: We are currently available for Spotify premium and Apple Music users. We are planning on integrating many additional streaming platforms in Q1 of 2022.

Q4: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?

ANS: We launched to the public in the apple app store exactly a year ago and have since garnered tens of thousands of users. You can download the Geojam App in the Apple App Store, currently available in 167 countries around the world. geojamx.com/download

We’ve signed on some of the biggest artists in the world, for example, Mariah Carey is our executive advisor

We had a whole feature in The New York Times about our pivot during the pandemic.
https://www.nytimes.com/2020/11/06/your-money/entrepreneur-pandemic.html

Most recently, less than a month ago, we released our whitepaper, and are 3x oversubscribed on our $5.9 Million pre-sale. The pre-sale is still open for strategic partners for which we are still accepting applications. You can sign up here- https://docs.google.com/forms/d/e/1FAIpQLSd1VM2OWxzYxsVqGIz7piyAk9SLhWrmgcvba0Gy_kndLG9xYw/viewform

Here is our roadmap!

Q5: Can you briefly describe your PARTNERSHIPS so far?

ANS: Over the last year of being in the App Store, we have built a name for ourselves in the music industry because of the talent we have been able to partner with. We have partnerships with big name-record labels, management companies, and influencers. We have 100+ artists/influencers already signed up for the platform

We have partnered with 50 Fraternities around the United States, and are currently on a Geojam College Tour, which is driving thousands of downloads and awareness to the platform

Additionally, we have a partnership with Constellation Network, who is incubating us. We are lucky enough to work directly with the founders. Geojam is merging its existing point system onto Constellation Network's decentralized Hypergraph Network to create a financially feasible 360º degree token-economic model that bridges the gap between creators, brands, and fans through DeFi staking mechanisms. Existing cryptocurrency token standards and decentralized layer 1 protocols (i.e., Ethereum) are slow and have variable high transaction fees (gas fees) to use the network.

This ultimately prevents Geojam from creating a predictable business model that takes our traditional user base into consideration by being too costly with a negative user experience (which ultimately can create user churn). As a result, Geojam will be minting an L_0 token on Constellation Network’s Hypergraph, a decentralized layer 0 protocol and network with zero transaction fees built for high volume transaction utility and use cases.

Q6: Can you give an overview of the Tokenomics and Utility of the $JAM tokens?

ANS: Geojam has already developed a unique economic cycle that will be accelerated with $JAM and a token economy. Currently, on the platform, there are two ways in which experiences and additional offerings can be redeemed through jam shop transactions and campaign competitions.

We will also be introducing two types of pools on Geojam, Proposal pools and Creator Access Pools (CAPs)

Let's talk more about staking pools!

Nodes that makeup and participate in decentralized networks are incentivized to provide additional services (bandwidth, computing power, etc.) to the network in exchange for a portion of block rewards and fees. In many decentralized networks, nodes require initial collateral of the network's cryptocurrency to participate in the network.

On Geojam, pools operate in a similar capacity requiring people to stake $JAM to participate in exchange for rewards and access to endless possibilities of games, experiences, and special items in the Jam Shop.

Our products are broken down as follows:

Proposal Pools: Proposals are a form of platform governance where Geojam and user-generated initiatives are requests for features or creator opportunities and require users to stake $JAM to participate. Many of these proposals will ultimately turn into experiences in Creator Access Pools (CAP).

Creator Access Pools (CAP): These are pools hosted by a creator. The creator creates unique opportunities that will invite users from crowds to stake $JAM. A user can stake $JAM on the creator’s CAP to unlock direct access to them, experiences, tickets, merchandise, NFT’s, content, etc. Both the creator and the user earn rewards for participation.

$JAM will reward creators for their social reach in exchange for providing experiences and opportunities for their fans, restoring the true value of the creator economy.

The first phase of the token cycle will be an ERC-20 $JAM token that will be launched in Q4 of 2021. This token will have basic staking functions, earn an APY and gain Jam Points that can be used on the Geojam platform for products, merchandise, and experiences. We will migrate to the L_0 token in phase two. ERC-20 $JAM tokens will be swappable for L_0 tokens.

2nd Segment: LIVE Questions

Q1: I saw GeoJam is only on App Store and waitlist is open for Android App so can can you tell me what is required to to join the waitlist? The app will not be available to everybody in future?

https://twitter.com/RahulGandhix5/status/1452614872852623361?s=20

ANS: You can fill out a form on our website to be added to the Android waitlist- https://www.geojam.com/home

The app will be available for both Apple and Android users by the end of Q1 2022.

Q2: 🙋🏻🙋🏻🙋🏻, Geojam is a very creative platform consider with other platforms. I'm sure geojam will be a major platform in future.

$JAM😍

I want to join with your pre sale and what is the procedure to register for pre sale?

https://twitter.com/lupu_anhtar/status/1452606722732789761?s=21

ANS: You can register for our pre-sale in this form- https://docs.google.com/forms/d/e/1FAIpQLSd1VM2OWxzYxsVqGIz7piyAk9SLhWrmgcvba0Gy_kndLG9xYw/viewform

Q3: Geojam's approach to music is innovative and impressive but I would like to know how you plan to attract more people to join this interesting platform? Do you plan to focus on users in the crypto space or will you be marketing strategies to attract non-crypto users?

https://mobile.twitter.com/LadyAnitax/status/1452605550047469578

ANS: A huge part of what we are doing at Geojam is bringing the utility of cryptocurrency and blockchain to the mainstream with decentralized social networking. We have tens of thousands of users who we have been educating for the last year on digital currency, Jam points, when $JAM launches all of users will instantly have wallets. Our focus is to bridge the gap between crypto communities and non-crypto users to do so.

We have already signed on and will continue to sign on major talent to launch experiences and creator access pools. We will have something for everyone.
We are on a college tour across the country which is targeting the masses.
We have some big announcements with major talent coming up. Stay tuned!

Q4: How Can I participate in token sell..? Can Everyone can participate in token sell..? And how much should we invest minimum..? How to whitelist myself..?

https://twitter.com/Muhammad1_11/status/1452549934591275011?t=Aw8WxUKleqJO29F_CVgf0Q&s=19

ANS: You can fill out our pre-sale form here- https://docs.google.com/forms/d/e/1FAIpQLSd1VM2OWxzYxsVqGIz7piyAk9SLhWrmgcvba0Gy_kndLG9xYw/viewform

Q5: 1. What is the the tvolution of Jam Points and current use of Jam Points?
2. How does $JAM redefines the existing creator?

https://twitter.com/james7dan123/status/1452608082077360129?t=ytNQNNSAk1LQTzNouad0GA&s=19

ANS: $JAM redefines the existing creator economy by creating a virtuous cycle between advertisers, creators, and fans (crowds). It allows us to redirect the flow of incentives away from centralized social media conglomerates that capitalize off your engagement and impressions, and back towards the creator economy that generates those engagements and socialization. Through $JAM, we unlock the ability to further incentivize engagement to benefit all stakeholders, which can directly replace otherwise lost advertising dollars.

Q6: 🐳Geojam platform, and the points live in the fan’s wallet. Can Fans use metamask? What wallets do you support? is there a plan to develop your own wallet?

https://twitter.com/nikolblanco2005/status/1452483748323368962?s=20

ANS: Stargazer Wallet (Constellation's multi-asset cryptocurrency wallet): Stargazer will be integrated into the Geojam mobile application and we will allow people to purchase $JAM through the wallet.

Q7: How was the idea for GeoJam Music received amongst the Music loving and promotion community ?
Did any major director or studio giant or music s agree to work with them to develop the idea for you ? What are some of the success metrics or indicators recorded on Geojam ?

https://twitter.com/talk2fatty01/status/1452612663221964802?t=4qw9QaTQyeGVpVo2El2UAA&s=19

ANS: The idea for Geojam has been very well received in the music and creator communities alike. We have already secured partnerships with major labels including Columbia, Warner, Sony and Roc Nation. We have tens of thousands of users around the world using the platform on a daily basis and are signing on more artists and creators on a daily basis.

Q8: As a social media place for Music, I suppose you are coming into a marketplace already dominated my music streaming giants such as Spotify, Apple Music, Boomplay, Google Music, Pandora and Audiomack. Are you looking to displace these people or does Geojam music seeks to complement these platforms ?

https://twitter.com/obissy3/status/1452612599003160576?s=21

ANS: We are a layer and social network that sits on top of all popular streaming services. We allow users from one streaming platform to share music with a user from another. Our integration with other streaming platforms is what sets us apart.

Q9: I saw something interesting on your website and it is your emerging artists program so could you give me more details about this program and how it benefits these emerging artists? What are the requirements to enter this program?

https://mobile.twitter.com/antonio50221026/status/1452605016766877702

ANS: The emerging artists program is designed for up and coming artists to have similar opportunities to major record label artists via promotion on Geojam. If an artist applies and is selected to the program, Geojam will help them formulate experiences and promotional campaigns to grow their audience and reach as well as feature them on certain parts of the platform for everyone to see.

Q10: Hello, Geojam is a social music platform.But there are amazing features and different from other traditional music platforms..

💢Why did you decide to combine your platform with blockchains?

💢Have you a whitepaper or other data source about Geojam?

https://twitter.com/upulkarunaratna/status/1452602827839213569?s=21

ANS: A value-based ecosystem, with our platform token $JAM, expands Geojam’s impact on creators by rewarding them and the crowds that support them with desirable value exchanges: a result of increased time and attention (trend analysis) will accelerate the adoption of $JAM. Geojam is uniquely positioned in having a functioning ecosystem and rewards-based economy for creators to engage with fans to redeem physical and digital experiences, products, digital goods, and merchandise. $JAM is essential and will be the decentralized utility of Geojam, granting $JAM token holders a direct relationship with one another to connect, engage, and transact in an authentic and fun way that not only increases community value for artists and their fans but changes the value of engagement and gamification. Find our whitepaper here: https://geojam.docsend.com/view/h42c9i546p7v3wuj

Q11: I read the full whit paper. There you mentioned about L_0 token.. Can I ask what is L_0 token..? Is it liquidity provider token...?

https://twitter.com/earnpro786/status/1452554851917778953?t=xUroPpFYyKb2dkrxkbU-AQ&s=19

ANS: The L_0 token is currently in devlopment and will be native to the Constellation Network Hypergraph. We will be launching with an ERC-20 token then migrating everyone to L_0 once it is complete in Q2 2022

For everyone asking about NFT's: In 2021 non-fungible tokens (NFT’s) stand as a key player in bringing direct revenue back into the hands of artists and creators. However, in order to mint NFT’s on the Ethereum Network, this ERC-721 standard requires gas fees that can be higher than the value of the NFT itself. On the Constellation Hypergraph Network, there will be an NFT standard that requires zero gas fees to transfer the NFT as we are running on the Constellation Hypergraph. We will be working alongside Constellation to build the first NFT, using Constellation’s standard, to create an NFT for the world’s most popular creators. What sets Geojam apart is that we have already enabled a retail marketplace through our Jam Shop in which NFT’s can be sold and earned. The possibilities are endless with multi-use NFT’s that can store more than digital value but also real-world access, experiences, metadata, and advanced governance permissions.

Example: Imagine you win the skateboard with Nyjah Huston experience through a CAP. The creator, Nyjah Huston, has the ability to create a wide range of digital assets that could include digital autographs, voice memos, songs, tickets, avatars, merchandise, branded pins, etc. These NFT’s can be distributed, with a fraction of the cost, to participants in the CAP and on the platform as a limited edition item, only on Geojam.

Q12: $JAM incorporates technological advances
decentralized finance with real world experience, still a project needs to deal with solving real world problems or problems, so What are the real world issues that your project focuses on? Please share with us!!

https://twitter.com/rekt_reki/status/1452610124565016579?t=QJTF5Kh4fPSBhgCg3RBAMA&s=19

ANS:

Q13: Can you please tell us how do you plan on engaging producers, composers and the music creation community at large ? Do you have any well-known artists or musicians been onboarded into your project?

https://twitter.com/Joseph_agbai12/status/1452568833080889345?s=20

ANS: We have a number of top tier artists currently on Geojam including Mariah Carey, Machine Gun Kelly, 24kGoldn, and more. Geojam is a tool for the music industry and creator economy at large and artists are seeing the value of what we have built and will continue to.

Follow Us On Our Various Social Media Communities For More Update;

https://t.me/amaloversclub/368073

Join our Telegram Community: t.me/geojammusic
Download Geojam in the Apple App Store: geojamx.com/download

For more information:
w: www.geojam.com
e: token@geojam.com

Socials:
Telegram: t.me/geojammusic
Twitter: twitter.com/geojammusic
Instagram: instagram.com/geojammusic
Facebook: facebook.com/geojammusic

Pre-Sale Waitlist:https://docs.google.com/forms/d/e/1FAIpQLSd1VM2OWxzYxsVqGIz7piyAk9SLhWrmgcvba0Gy_kndLG9xYw/viewform

Whitepaper
https://geojam.docsend.com/view/h42c9i546p7v3wuj

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