Altcoins: Geojam Token (JAM) - What Is It? - A Deeper Look Into the Geojam (JAM) Platform
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Summary:
- What is The Geojam Platform and how does it work?
- Advantages of the Geojam exchange.
- Geojam’s past, present and future price positions.
The GeoJam Platform
Fans can now interact directly with celebrities, athletes, and influencers like Mariah Carey, Machine Gun Kelly, and Nyjah Huston thanks to Geojam. With the launch of the cryptocurrency, $JAM, the platform integrates the principles of independent cryptocurrency communities and traditional social networking while fusing the technological developments of decentralised finance with real-world experiences. Fans that participate in the communities and activities they love can earn the $JAM token, which can then be exchanged for access to those same communities and creators as well as goods, experiences, and Non-Fungible Tokens (NFTs). By rewarding creators for their social influence in exchange for giving their followers chances and experiences, $JAM will revive the true worth of the creator economy.
There are now two ways on the platform to redeem experiences and extra offerings: jam shop transactions and campaign competitions. Two new pool types, Creator Access Pools and Proposal Pools, will soon be introduced on Geojam (CAPs). Let's discuss staking pools in more detail. Decentralised networks' nodes are motivated to contribute extra services (bandwidth, processing power, etc.) to the network in return for a share of block rewards and fees. Numerous decentralised networks need cryptocurrency as initial collateral before nodes can join the network.
On Geojam, pools function similarly, requiring participants to stake $JAM in return for rewards and access to an endless array of games, experiences, and unique items in the Jam Shop.
The following is a breakdown of their products: Pools of proposals Geojam and user-generated initiatives are requests for features or creator opportunities, and proposals are a type of platform governance where users must stake $JAM to participate. In the end, many of these ideas will become experiences in Creator Access Pools (CAP).
Pools called Creator Access Pools (CAP) are those that a creator hosts. The designer develops special prospects that will entice users to bet $JAM from crowds. To gain direct access to a creator's experiences, tickets, goods, NFTs, material, etc., a user can wager $JAM on the creator's CAP. Participation in the activity rewards both the creator and the user. By rewarding creators for their social influence in exchange for giving their followers chances and experiences, $JAM will revive the true worth of the creator economy.
An ERC-20 $JAM coin that was released in Q4 of 2021 will represent the first stage of the token cycle. Basic staking features are available for this token. In phase two, we will switch over to the L0 token. L0 tokens will be exchangeable for ERC-20 $JAM tokens.
The current market capitalisation for this crypto is $3,070,389. There is a maximum supply of 8 billion JAM tokens, 9% of these are currently in circulation.
Advantages of the Geojam Token Platform
- Decentralised finance, they integrate the values of independent cryptocurrency communities and traditional social networking while fusing the technological advances of decentralised finance with real-world experiences.
- Exclusive offerings, Fans can earn $JAM by taking part in communities on the Geojam app. The same communities can be supported with $JAM, which can also be exchanged for goods, services, and Non-Fungible Tokens (NFTs).
- Community governance, by encouraging creator contributions to provide the best user experience and bringing new features and ideas to life in a motivating and engaging way, $JAM enables the community to participate and assist in the development of the platform.
- Proposal pools, To bring their craziest ideas and desires to life, fans and creators can submit, vote, and stake. Through proposal pools, our community establishes direct contact with creators while demonstrating financial support with staked $JAM.
- Creator access pools (CAP), The designer comes up with special chances that entice people to stake $JAM. To gain direct access to a creator, their experiences, tickets, products, NFTs, content, and more, a user can wager $JAM on the creator's CAP. Participation in the activity rewards both the creator and the user.
- NFTs and the Metaverse, NFTs created on $JAM are linked to the creator's profile, and they can be exhibited and used in our metaverse, giving them a social nature that increases their worth.
Present and future prices of The Geojam Token network (JAM)
Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, JAM does fall under this category.
According to some analysts, the future price of The Geojam Token network (JAM) could reach up to $0.02 by 2025 and could see a price of more than $0.13 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions.
JAM Price Chart
Sources: finance.yahoo.com, coinmarketcap.com, geojam.com, swapspace.co
