Blockchain incubator, Digital Asset Monetary Network made its first stake in the music-focused social media platform.
Digital Asset Monetary Network (OTC Pink:DATI), an incubator and accelerator focused on disruptive industries announced that it has made its first investment in Project JAM. Operating under the mission to bring transparency and fairness to musicians, Project JAM is a social media platform that formalizes contracts among musicians, recording engineers and professionals in the industry.
As quoted in the press release:
Project JAM’s mission is to bring transparency and justice to the music industry. Project JAM is an ecosystem which caters to musicians, songwriters, producers, audio engineers, industry execs and fans, to address the challenges which have long plagued the music industry. Writers, artists, musicians and other music professionals will have opportunities to formalize the ways in which they are discovered, rated and hired by their peers.
“Establishing a startup and building that business is never easy, especially in music,” stated co-founders of Project JAM, Inc., Anthony Pisano and Tony Livadas in a joint statement. “We needed money and we needed guidance. Most of all, we needed someone that would show up for us because we represent ‘real lives… real people’, and not simply another number on some house-hold brand accelerator or funding portal. With DigitalAMN, we’ve so far received what every startup initially needs – structure, opportunity and capital. With their assistance and direction, we’ve received the jumpstart we needed and we believe Project JAM and JAM Compass will ultimately be better because of it.”