Vezt Inc. Launched Its Blockchain Music Royalty Sharing App in the Apple App Store and Google Play Store with Select Titles Selling Out – Proving the Value Proposition of Vezt
NEW YORK, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Digital Asset Monetary Network, Inc. (OTCMKTS: DATI) (“DigitalAMN”), a specialized tech accelerator leveraging its Public Accelerator-Incubator (PAI) model, congratulates one of its portfolio-companies, Vezt Inc. (“Vezt”), on the launch of its blockchain-based music royalty sharing app into the Apple App Store and Google Play Store; an outstanding start considering several of its listed titles have already sold out.
Download the app or visit https://www.vezt.co/ for more info.
By leveraging the blockchain, Vezt seeks to democratize the way artists and fans cultivate and earn money through music, together. Vezt supports fans and its artists on a song-by-song basis, affording fans the opportunity to partner with, and make money from, an artist’s royalties and licensing income. Simultaneously, artists and producers benefit from additional ways to financially leverage their creative properties.
“What gives us the greatest pleasure in congratulating Vezt on its success, is the unique relationship shared with DigitalAMN,” stated Ajene Watson, CEO of Digital Asset Monetary Network. “Not only is Vezt an early supporter and adopter of our Angels+ program – making Vezt a DATI portfolio-company, Vezt’s Co-Founder and CFO serves as an executive advisor to DigitalAMN and is someone who has raised capital for and/or co-founded, other multi-million-dollar startups.”
“In addition, learning from and working with Vezt’s Co-Founder and CEO, DigitalAMN has expanded its working knowledge of both the blockchain and alt-coin marketplaces. This helped us make prudent decisions within each of those markets, which we believe will complement our equity crowdfunding and social capital endeavors. The combination should position our growth ecosystem as the possible ‘go-to’ platform for future security token opportunities.”
Vezt, which has listed its token under the symbol VZT, is now operating in two countries; having offices in L.A. and South Korea. The company’s offices in Seoul, is staffed with 13 employees and is expected grow significantly in terms of the scope and size of the overall operations; particularly as Vezt adds new song titles to the music royalties sharing platform.
Vezt launched its app initially with just a few notable song titles; many of which sold out quickly. These sold out titles included songs recorded by Mac Miller (Wear My Hat, and Gees – feat. Schoolboy Q), Rick Ross – Cigar Music, and Rihanna – Man Down; naming just a few. Vezt’s management has indicated that they’ve seen a surprising adoption, conversion and average spend number within their first few days – without the aid of any marketing campaign. Should the South Korean relationship continue to be fruitful, Vezt’s Co-Founder and CEO, Steve Stewart said, “Vezt anticipates adding upwards of 100,000 new song titles very quickly at the current pace.”
If Vezt continues to be successful in making great strides in the implementation of their business plan, management is confident that DigitalAMN’s overall interests in Vezt will grow; especially as more fans and artists recognize the strong value proposition of Vezt’s unique music democratization. Particularly the earning power it gives fans to align themselves with their favorite artists.
Watson concluded, “I remember when Vezt was just an idea – a concept – with a valuation of only $1.2M; now indicating an estimated value of nearly 30x that. I truly believe that Vezt is just getting started and will ultimately prove invaluable to the overall development of DigitalAMN’s PAI model and our ecosystem. Congratulation Vezt! Job well done. Keep It Going and Let The Music Pay.”
See Blog: Hats Off to Vezt!: https://digitalamn.com/company-blog/hats-off-to-vezt-inc-on-successful-app-launch/ With BONUS Cheddar Interview at the New York Stock Exchange
ABOUT Vezt Inc.
Vezt is the first blockchain-based mobile app where music fans can acquire rights in their favorite songs and recordings. Vezt’s goal is to improve the music industry by providing artists, songwriters, and producers with additional funding sources derived directly from their own fan bases on a global basis. In exchange, fans receive rights to share in a pro rata portion of the royalties earned by their favorite songs and recordings that they subscribe to. Vezt collects these royalties on behalf of these fans from the performing rights organizations, publishers and record labels and tracks such royalties through Vezt’s proprietary blockchain technology.
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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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