GeoJam AMA SUMMARY
1 Question
You want to connect artists, cryptocurrencies, and the community in one place. Could you please introduce a little bit about yourself and your project? What exactly is #GeoJam ? What kind of innovations do you plan to introduce?
Answer
Sarah Figueroa
I am Sarah, CEO and Co-founder of Geojam!
Sam Krichevsky
I’m Sam Krichevsky, COO and Co-Founder of Geojam!
Sarah Figueroa
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.
Sam Krichevsky
Our vision is to merge a non-crypto user base with beginners and experts. 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 to pave the creator economy of the future
Sarah Figueroa
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.
2 Question
Can you tell us something about your experience, skills? Please describe something about your team, we want to meet you better. Should be nice to hear about your passions!
Answer
Sarah Figueroa
I have been leading social media-type start-ups for the last 8 years. I am extremely passionate about entrepreneurship and bringing concepts to life with a great team. I sold my first company when I was 20 and have dedicated my life to creating passion-fueled experiences in both the digital and physical world.
Whether it’s designing front-end user experience for Geojam, or creating brand activations at music festivals, the key theme and skill set has always been customer experience. I have been passionate about Cryptocurrency since 2017 when I started mining Ethereum and always thought blockchain could change the way we transact, interact, and engage on social media.
Sam Krichevsky
I have been working with startups for 10+ years. I was the COO of an accelerator and business incubator called LaunchHouse where we invested in high tech/high growth companies. Then I went on to start my own live event production company where I was the CEO and produced large-scale events including music festivals and comedy festivals. During this time I gained a lot of experience working with artists and creators and saw the gaps in the existing marketplace for creators to monetize and earn revenue. I am very passionate about the building process and bringing concepts from ideation to reality. In my free time, I love spending time with my kids, going to concerts and music festivals, and watching football
Sam Krichevsky
Here is an article that tells you more about us including our third co-founder Justin. https://geojam.medium.com/hello-crypto-world-were-geojam-nice-to-meet-you-84628b9c04cb
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.
You can learn more about some members of our team here- https://geojam.medium.com/not-only-does-geojam-partner-with-rock-stars-they-hire-them-too-f53ac25a392c
3 Question
Can you please tell us more about #GeoJam features? How do you want to reward the community, and how important is the community to you? What is your plan to attract people to join your project?
Answer
Sarah Figueroa
Great question!
Our product includes a mobile and web platform that allows you to interact and transact $JAM seamlessly in a fun and meaningful way.
Community is at the heart of Geojam. We love meeting our community members from around the world and everyone has such a unique angle and perspective to add. We love that by merging Geojam onto the blockchain and into a decentralized platform, the community is able to be a part of the decisions. The way we are thinking about community governance is really cool through our proposal pools and NFT’s but more on that later!
Sam Krichevsky
Geojam creates value-based gamification fandom by giving creators new monetization opportunities and fans’ entertainment, and tangible rewards. Creators customize staking pools, called CAPs, which include rewards, opportunities, and access to experiences, memorabilia, and NFTs that they promote to their fans in Geojam Crowds
Sarah Figueroa
Although the enthusiasm surrounding the music industry has been a perfect vessel for proving the relationship between the artist and platform users, the $JAM token will actively expand Geojam to every industry that harnesses influence.
Sam Krichevsky
Join our Telegram Community! t.me/geojamofficial
4 Question
Tell us something about your marketing strategy, business plan, show us your vision of the project in the next few years.. And one more, what is your plan for the bear market?
Answer
Sarah Figueroa
We have tens of thousands of users who we have been educating for the last year on our in-app digital currency, Jam Points. When $JAM launches, all of our users will instantly have wallets. Our focus is to bridge the gap between crypto communities and non-crypto users. 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.
Sam Krichevsky
This level of engagement between fans and artists has already been proven on the Geojam platform with A-level talent. Artists have demonstrated a desire to engage deeper with their fans by offering unique experiences on Geojam: taking a fan on a private jet to their hometown, playing video games, designing apparel, one-of-a-kind memorabilia, and more
Sarah Figueroa
In Geojam’s current iteration, artists are hosting experiences because they find value in connecting with their fans. 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.
Sam Krichevsky
Learn more in our whitepaper here- https://geojam.docsend.com/view/h42c9i546p7v3wuj
5 Question
Let’s talk about foundations, please explain to our community on which chain do you want to build your project? Maybe you want to implement more chains in the future? High fees — nobody likes it!
Answer
Sarah Figueroa
We don’t like fees!
Sam Krichevsky
Everyone hates fees!
Sarah Figueroa
Which is why we have chosen Constellation Network as our partners!
Sam Krichevsky
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
Sarah Figueroa
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.
Sarah Figueroa
We are launching as an ERC20 token with a bridge to other networks and then will be migrating everyone to L_0 once Constellation Network’s Hypergraph network in Q2 2022.
6 Question
What is for you the most revolutionary in your project? What’s your opinion because we have a lot of similar projects? Feel free to show the best things from your ecosystem for our community!
Answer
Sam Krichevsky
Firstly, what makes our project unique is that we already have an existing product, HUGE celebrity backing, and have a proven track record with tens of thousands of existing users
Sarah Figueroa
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 through decentralized finance and social media.
The ability to turn decentralized finance, staking pools, NFT’s into tangible products, merchandise and once in a life time experiences with your favorite creators changes everything! $JAM gives you access like never before. So get ready for life changing experiences and moments.
Sam Krichevsky
We have been working on the concept of Geojam since 2018
Sarah Figueroa
We went back and forth on how to get to this point. We always knew it was meant for the blockchain, but decided to get here a little differently than most projects do.
7 Question
Can you please share with us some details like tokenomics? Our investors need to know things like this. You can also tell something more about your token use cases..
Answer
Sam Krichevsky
Yes! $JAM redefines the existing creator economy by creating a virtuous cycle between advertisers, creators, and fans (crowds)
Sarah Figueroa
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).
Sam Krichevsky
LET’S TALK ABOUT OUR STAKING POOLS! 🙂
Sarah Figueroa
Our products are broken down as follows:
Proposal Pools: This is where community governance comes in to play! 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 Warsaw
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.
Sarah Figueroa
Join our Telegram Community: t.me/geojamofficial
Download Geojam in the Apple App Store: geojamx.com/download
For more information:
w: www.geojam.com (http://geojam.com/)
e: token@geojam.com (http://token@geojam.com/)
Socials:
Telegram: t.me/geojamofficial
Twitter: twitter.com/geojamofficial
Instagram: instagram.com/geojamofficial
Facebook: facebook.com/geojamofficial
8 Question
And the last question, maybe do you want to take advantage of the Metaverse in the future? Imagine a platform, with artists, excellent community but in the metaverse. What are you thinking about it?
Answer
Sarah Figueroa
I am so glad you are asking this question… this is exactly where Geojam is heading! We are building a new ecosystem built in Web 3. When you stake on Creator Access Pools, a METAVERSE for the specific creator will unlock.
Sam Krichevsky
Imagine being able to shop in Mariah Carey’s Closet with her, or learn how to play football with Cristiano Ronaldo at his curated field. The opportunities are endless
Sarah Figueroa
Over the last month, we have signed on strategic partners, designers, artists, and creators to bring the metaverse to the heart of our platform. Geojam will be the Disneyland of the Creator Economy and we will be bringing incredible opportunities to the palm of your hand!
Community questions
1 Question
Jasson Robinson
How important is the COMMUNITY to you? and how can we collaborate or help you for the development of the project?
Sam Krichevsky
Community is at the heart of Geojam. We love meeting our community members from around the world because everyone has such a unique angle and perspective to add. The best way the community can help us now is by spreading the word about our platform and engaging on the app!
2 Question
8Mi_Yile | Rick Astley
Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?
Sarah Figueroa
Here is the link to our YouTube Channel https://www.youtube.com/channel/UCHkLyB-ZJ4LSDVND1FcQjOA
Stay Tuned on our announcements channel for new video content about $JAM coming out next week! https://t.me/geojam_announcements Also this interview with Mr. Digital
https://www.youtube.com/watch?v=IuYgHXBRGAI&t=697s
3 Question
Andre Sukma
Many young artists have no voice and JAM can get them on board.
My question is, why should JAM only focus on people who are subscribed to only Apple Music and Spotify?
Sam Krichevsky
We are currently available on Apple Music and Spotify but will be integrating many additional streaming services in the coming year including Amazon Music, YouTube Music, Tidal, and many more. We also have an emerging artist program that is focused on up-and-coming talent from around the world. The 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. Here is the link to apply! https://www.geojam.com/emergingartist
4 Question
Radusch
NFTs is hot trending now, Do you have a play to have NFTs in your platform? If so, can you tell us yhe plans of your project in NFTs?
Sarah Figueroa
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.
5 Question
Hoang
Is this your project only for elite investors, how about others with small funds, is it open to everyone?
Sam Krichevsky
This project is definitely open to everyone, not just elite investors. Our pre-sale is nearly closed, but here is the application for anyone that can provide value to the project! https://docs.google.com/forms/d/e/1FAIpQLSd1VM2OWxzYxsVqGIz7piyAk9SLhWrmgcvba0Gy_kndLG9xYw/viewform
6 Question
Trâm Anh
Do you have An Ambassador Program available? If yes, how can I join it? And can you tell us what the benefit Available for the Ambassador?
Sarah Figueroa
Yes! https://www.geojam.com/jambassador
Winners Questions
1 Question
PhạmThông
Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
Sam Krichevsky
We recently hired an incredible UI/UX firm alongside an incredible in-house metaverse designer that will be helping us to redesign the application for version 2.0 which will have all of the crypto and blockchain functions built in
2 Question
Henry Ribery
The cryptocurrency market is increasingly competitive, especially Defi. What is your unique “selling point”? and how will you take advantage of it?
Sarah Figueroa
Geojam will incorporate all of these DeFi mechanisms in a way that rewards users with real-world experiences, prizes, and our native token, $JAM. 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.
3 Question
LedgeAnDairy
COVID 19 has slowed many economies around the world but as a crypto business has it affected you negatively or positively? Secondly, are you still on track to achieve your targets as the road map says?
Sam Krichevsky
We are on track to meet our road map goals and had a feature write-up about our business during the pandemic in The New York Times. You can find it here- https://www.nytimes.com/2020/11/06/your-money/entrepreneur-pandemic.html
About Synapse Network
Synapse Network is developing a cross-chain investment and start-up acceleration ecosystem based on blockchain technology to give everybody an equal chance to contribute to great upcoming projects and to do so early on. We are bridging the gap between the traditional & crypto market. The idea of the Synapse Network technology goes beyond the standard offer of launchpads available on the market, becoming a true technological brand providing tech solutions.
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