AMA with GeoJam
Introduction with GeoJam
Riswan Rasheed:
Q1. Can you start us off with what is GeoJam about and why it is exciting?
Sarah Figueroa:
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.
We are experiencing a massive shift in the exchange of value between content creators and the platforms that profit from them. Geojam solves this problem through $JAM, our cryptocurrency, which unlocks incentives to all stakeholders involved in the creator economy.
Sam Krichevsky:
What excites us most is the potential that Geojam has because we already have an existing product in the marketplace with tens of thousands of users and some of the biggest celebrities in the world are already backing it
Sarah Figueroa:
It's exciting to bring decentralized finance to mainstream social networking
Riswan Rasheed:
Q2. How easy it is for an user to sign up and start experiencing GeoJam ?
Sam Krichevsky:
We are currently available on iOS devices in 168 countries around the world for Spotify Premium and Apple Music users. We are planning on integrating additional streaming services in Q1 2022
Sarah Figueroa:
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.
Download geojam here: geojamx.com/download
Riswan Rasheed:
Q3. What is the utility of $JAM token and how do we aquire it?
Sarah Figueroa:
$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.
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 ABOUT OUR STAKING POOLS! 🙂
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).
Sam Krichevsky:
Let me give you some examples:
- Take us backstage at Coachella for a live stream
- Get Cristiano Ronaldo on Geojam
- Taylor Swift to play a concert in Dubai
Sarah Figueroa:
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.
Sarah Figueroa:
$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.
Sam Krichevsky:
Our pre-sale is now open. We are oversubscrubed and have $16M commited in our $5.9M raise
Sarah Figueroa:
Here is the link to the pre-sale waiting list
https://docs.google.com/forms/d/e/1FAIpQLSd1VM2OWxzYxsVqGIz7piyAk9SLhWrmgcvba0Gy_kndLG9xYw/viewform
Riswan Rasheed:
Q4. Can you tell us about what is GeoJam planning to achieve in the later part of this year?
Sarah Figueroa:
Here is our technical roadmap!
What we are most excited about at Geojam is bringing the ever growing partnerships and experiences with top creators, artists, and celebrities to the crypto community!
Keep up with updates in our telegram community t.me/geojamofficial
Community ask questions from Twitter
Riswan Rasheed:
Staking is one of the several ways to keep the project ecosystem up and running and also, increase the value and price of the corresponding token. What are the requirements to participate in staking $JAM? And whats in for me as an investor in terms of APR and governace proposal?
https://twitter.com/Cryptocurran7/status/1453241069878104071?s=20
Sarah Figueroa:
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
Geojam incorporates the power of decentralized networks, the products of DeFi, with social networking dynamics: from the technology that governs them to the communities that enforce them.
Through our various branded Pools on Geojam, we facilitate a direct dialogue between crowds and creators to unlock the voice of highly engaged audiences.
Pools are used to create a real-world economy, powered by $JAM that rewards people with unique items, experiences, and $JAM. By incorporating multiple incentivization structures, we are able to align multiple stakeholders with common goals.
Sam Krichevsky:
Through Creator Access Pools, we use DeFi staking mechanisms to drive engagement and monetary value around experiences; conversely, through Proposal Pools, we allow crowds to orchestrate the development of the platform from features to new creator opportunities on Geojam
Riswan Rasheed:
It was written on Ur website about the ways in which experiences & additional offerings can be redeemed through jam shop transactions and campaign competitions. Could you elaborate more on these two campaigns? And what are the benefits offered to participants of this campaign?
https://twitter.com/Cryptocurran7/status/1453240939431010311?s=20
Sarah Figueroa:
We will adopt a greater level of both engagement and revenue for the creators themselves. Jam points will be replaced with $JAM. Fans will continue to earn $JAM through engagement and sharing, with the additional layer of $JAM rewards coming from participation in staking in access and proposal pools.
Jam Shop transactions, which will be sold with $JAM in which Geojam will take a transaction fee that will directly fund the community rewards treasury.
Geojam will continue to customize campaigns for artists and any creator that wants to promote their various initiatives through CAP’s and Games, which will also sponsor the community rewards. Programmatic campaign pricing will be based on on-chain scores that measure audience reach and engagement to determine the $JAM campaign price.
Riswan Rasheed:
I read about the emerging artists program, it got me very interested. So can you tell us the benefits for being an artist in your platform apart from fame? How can artists apply? Is it open for artists worldwide? Will there be any requirements?
https://twitter.com/Albertjaison2/status/1453242457261584386?s=20
Sam Krichevsky:
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
Artists can apply at- https://www.geojam.com/emergingartist
Riswan Rasheed:
Many new projects make a good impression at first but are suddenly abandoned. My question is, how will you manage the project and the token to get a position in the market and become the best token in the crypto world? Also are there any benefits for long term investors?
https://twitter.com/mahemnr/status/1453243690714021892?s=20
Sarah Figueroa:
We have an amazing team of entrepreneurs and have all had our own successful projects before. We truly believe that $JAM is going to be the currency of the future for the creator economy and are honored to be part of the building process to create something so game changing for what is currently a $100B+ industry and growing every day. We already have some of the biggest celebrity backers. The founders tokens are locked up for 30 months.
Sam Krichevsky:
As the user base on Geojam grows so will the value of $JAM
Riswan Rasheed:
As a social media place for Music, I assume you're entering a market that has dominated my music streaming giants like Spotify, Apple Music, Boomplay, Google Music, Pandora,.... Are you looking to replace these people or is Geojam music looking to complement these platforms?
https://twitter.com/Nguyenhuybach12/status/1453256842365345793?s=20
Sam Krichevsky:
Geojam is a layer that sits on top of all popular music streaming services
Sarah Figueroa:
We are monetizing fandom for not just musicians but for all creators. There is so much lost revenue from putting social media conglomerates at the forefront of advertising, we are redirecting the flow of incentives from them, and integrating directly with popular music streaming platforms such as spotify and apple music. We are aiming to put the value back into the hands of the creators and fans themselves.
Live questions answered by GeoJam
1)Dan:
💯💱💯
Is GEO JAM LIVE YET
Do you plan for pre sale or it's late already. ?
💯💱💯
Sam Krichevsky:
Geojam has been live in the App Store for 1 year. $JAM token will be launching next month
2)Temitope Awoyinka:
🔥🔥
How will GEOJAM gain GLOBAL ADOPTION
WHAT ARE YOUR MARKETING STRATEGIES
DO YOU HAVE A GLOBAL AMBASSADOR PROGRAM OR REFERAL PROGRAM. ?
🔥
Sarah Figueroa:
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
3)ভিক্ষে করে খা:
$ Will buying Jam Token cost me a lot? How can I simply buy your token? On which platform is your token sale offered?
Sam Krichevsky:
$JAM will be listed on de-centralized and centralized exchanges starting in December
4)ভিক্ষে করে খা:
Is the GeoJam project run in a community where English is not good? If yes, how do you manage projects in that community? Does your project run in the community's own language?
Sam Krichevsky:
Geojam is available in 168 countries around the world. We are setting up 'Jambassadors' in many countries where English is not the primary language. Those communities will be run in the native language
5)J Mags:
Instead of MetaMask, GeoJam encourages its users to use the Stargazer Wallet when interacting with the GeoJam platform/app. What are you opting user to use the Stargazer Wallet instead of the conventional MetaMask? How compatible and suitable is the Stargazer Wallet on your app?
Sarah Figueroa:
We are building first stargazer wallet SDK for mobile... It will be very user friendly and seamless with usability for a non-crypto userbase