A music social media app, Geojam, announced today the official launch of its brand-new crypto token named $JAM through Lattice Exchange Launchpad, a DEX finance exchange platform. The token presale already raised $5.9 million through two private sale rounds, according to the press release shared with FXEmpire.
Geojam is an iOS app that gathered well-known investors and music celebrities such as Mariah Carey, Nyjah Huston, and 24kGoldn.
The launchpad within the context of the $JAM token will allow holders to support and interact straight with their favorite creators via staking pools and mechanisms simplified for a new-to-crypto user base.
“Our crypto token allows artists and fans to leverage their collective influence in a way that’s never been done before to build new opportunities and provide a way for them to earn together. Artists want to engage deeper with their fans, while fans have also demonstrated a desire to engage with their favorite artists. $JAM reward incentives offer a key benefit to the community while also empowering artists to monetize their fandom,” Sarah Figueroa, CEO, and Co-Founder of Geojam, commented about the announcement.
Zero Gas Fees For Creators
Fans in the platform can use their $JAM tokens as in-app money to purchase merchandise in the shop, but at the same time, creators could deploy a pool where their fans could stake $JAM tokens and see their governance go live.
The technology used in the launchpad would be the Constellation Network Hypergraph’s protocol, which is one of the platforms within the sphere that allows creators to mint NFTs with zero gas fees – something that has been a hot discussion among an emerging industry that keeps gathering steam each day.
“As a consumer application, it is essential for Geojam’s customer base to have the resilience, speed and cost-effectiveness that is characteristic of the Hypergraph,” Ben Jorgensen, CEO and Co-Founder of Constellation Network, added.