NEW YORK, March 21, 2019 (GLOBE NEWSWIRE) -- Digital Asset Monetary Network, Inc. or “DigitalAMN” (OTCMKTS: DATI), a Public Accelerator-Incubator (“PAI”), announced today, that DigitalAMN would like to applaud TruCrowd, Inc. (“TruCrowd”) on the successful soft launch of its fourth equity crowdfunding portal, Musicfy - a funding portal dedicated exclusively to the music industry (https://musicfy.us/).
“It is impressive what TruCrowd continues to accomplish on a daily basis,” stated Ajene Watson, CEO of Digital Asset Monetary Network. “We take our hats off to TruCrowd, who just seems to operate with a ‘Can’t Stop, Won’t Stop’ mentality. With the addition of a music focused equity crowdfunding portal, I am confident that TruCrowd will continue to grow the popularity of its service offerings, the strength and quality of their user base, their revenue stream and the overall enterprise value of their company.”
Having already been recognized as one of 2018’s Top-10 equity crowdfunding portals (https://bit.ly/2LYRnDB), the addition of Musicfy to its other industry-specific verticals, should help position TruCrowd for continued growth in 2019. According to TruCrowd’s management, Musicfy completed its soft launch with Varner Enterprises (owner of independent record label L2 Records), being the first issuer to list its offering, promising their investors both a short-term and long-term exit on their investment, pending the issuer meeting their funding goals.
Watson continued, “In 2017 alone, the market value of the music industry exceeded $17B. Musicfy is introducing a new way for music entrepreneurs to raise the money needed to launch and further artists’ careers, while, letting fans and other everyday people become owners and partners in new music ventures. Between Vezt, Inc. and Musicfy, the future of music investing is among us! And having an interest in both… well, that’s just music to my ears!”
[see TruCrowd Announcement: TruCrowd Completes Soft Launch of Music Focused Equity Crowdfunding Portal, Musicfy (https://bit.ly/2Cwl3o1)]
Management indicated that when DigitalAMN initially began making investments in TruCrowd-operated portals, DigitalAMN secured a 5% interest to start building a business relationship with TruCrowd’s management. At that time, TruCrowd only owned a single portal, but operated two. In 2018, DigitalAMN acquired a 19.9% stake (plus Warrants for an additional19.99%) in TruCrowd, Inc. That year, TruCrowd expanded to ultimately own and operate three portals [two sector focused portals and one general funding portal]. A comparative analysis study completed in 2019, suggested that the enterprise value of TruCrowd increased an estimated 3000%; attributed to increased revenue, a substantial increase in userbase, the success of it cannabis focused equity crowdfunding portal Fundanna.com, and the competitive average amount of money raised per startup.
Watson concluded, “We firmly believe that the traction TruCrowd gained in 2018, will continue to grow, following the addition of Musicfy as part of the TruCrowd family of equity crowdfunding portals. I have never been more excited about the growth of TruCrowd and the contribution we anticipate they will continue to make to both the PAI ecosystem and our equity-portfolio; which should continue to add value to our shareholders.”
ABOUT Digital Asset Monetary Network, Inc.
Digital Asset Monetary Network, Inc. (OTCMKTS: DATI) is the first company to utilize the Public Accelerator-Incubator (PAI) model, with the intent to follow the global success of accelerators and incubators around the world, adding niche opportunities to both the microcap and startup communities. As a PAI, Digital Asset Monetary Network will develop and acquire innovations that solve problems through digital platforms and other electronic applications.
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For investor and general information, please email info@DigitalAMN.com
ABOUT TruCrowd, Inc. (owner/operator of truCrowd.com)
Located in the heart of the financial district of downtown Chicago, truCrowd is a FINRA member equity crowdfunding portal operating under Regulation Crowdfunding (Title III of JOBS ACT); connecting startups and emerging businesses with non-accredited and accredited investors. Built on the belief that not all businesses and investors are alike, we pride ourselves on delivering a personalized and professional funding experience through industry-leading technology.
| Website: | http://www.trucrowd.com/ https://musicfy.us/ |
For investor and general information, please email info@DigitalAMN.com
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking.
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