NEW YORK, Aug. 05, 2019 (GLOBE NEWSWIRE) -- Digital Asset Monetary Network, Inc. or “DigitalAMN” (OTCMKTS: DATI), a Public Accelerator-Incubator (“PAI”), announced today, that the Company has onboarded into its growth ecosystem, its newest client-company, Project JAM, Inc. (Project Justice For All Musicians (“JAM”)) – a blockchain component, social media platform, focused on bringing fairness and transparency to the music industry.
“The $50B music industry is something that we have had our hands in for quite some time now,” stated Ajene Watson, CEO of DigitalAMN. “We already have a vested interest in a blockchain component platform, that allows fans to purchase music rights from their favorite artists – which is doing very well by the way. We also have a vested interest in an equity crowdfunding platform that recently launched a funding portal focused exclusively on music industry endeavors. So, it made sense for us to continue building a ‘music line’ of business opportunities for investors, by onboarding a company like JAM. We believe JAM is synergistic with Vezt, Inc., and can likely raise money with equity crowdfunding.”
Management finds it fitting that JAM’s onboarding has coincided with musical history: Lil Nas X’s “Old Town Road” just recently set the record for the most weeks at #1 on the Billboard charts. This song just overthrew Mariah Carey's “One Sweet Day.” Lil Nas X challenged long standing institutions and systems, and won; proving that the traditional routes are no match for the powerful force of change makers and visionaries.
Watson continued, “As we are seeing with Vezt, startups like JAM are the ‘change makers’ and visionaries that a phenomenon like Lil Nas X can be born from; circumventing rigid structures, leveraging technology and destroying the status quo no matter what.”
JAM, whose founding investor has over 3.2 million subscribers and 418 million views – not including his “E Sports” and Entertainment network, is implementing a multi-platform (Artist to Artist and Artist to Hobbyist) blockchain ecosystem, with the intent to bring justice to the music industry. This includes fixing the limited transparency that exists, the delayed royalty payments and the inability in finding the right people to connect with… whether to simply jam out – or collaborate on a new project. Project JAM is expected to release the first iteration of the company’s platform within the fourth fiscal quarter.
Watson concluded, “JAM has now entered the ‘Accelerate Phase’ or our PAI model. This is where first, we focus on corporate organization. Then stream the business summary, pitch and market presentation; lastly, implementing a capital raise leveraging ‘The Crowd.’ From there, we aim to see JAM evolve within our growing ecosystem, until it becomes a staple in the new ‘millennial’ music industry.”
ABOUT PROJECT JAM, INC (JAM)
Project JAM, Inc. (Project Justice for All Musicians (JAM)) is a blockchain component, social media platform, focused on bringing fairness and transparency to music through an ecosystem catering to musicians, songwriters, producers, audio engineers, industry executives and fans. JAM’s ecosystem will implement a multi-platform (Artist to songwriter/Producer and Artist to Industry), to address these problems and give writers, artists and musicians opportunities to formalize the ways in which they collaborate, rated and hired by other musicians, record labels, producers and clients.
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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