GateLive AMA Summary-Geojam

2023-02-16, 07:03

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## 1.What is SocialFi, and what problem does it aim to solve? What projects are coming out and what are the big opportunities in space?
**Sarah(CEO) & Sam(COO):**
SocialFi in our sense is a decentralized social platform that merges social media and decentralization / web3. The idea behind SocialFi is to leverage the large and engaged user base of social media platforms to bring more people into the world of DeFi and decentralized finance. By combining the social features of social media with the financial opportunities of DeFi, SocialFi aims to provide users with a more accessible and user-friendly way to participate in the DeFi ecosystem. That’s what Geojam’s all about. We’re a mainstream platform with the underlying mechanisms of DeFi and web3.

SocialFi aims to solve the problem of DeFi's low adoption and usage among the general public. By integrating social features into DeFi, the hope is to make DeFi and web3 more approachable and appealing to a wider audience.

We’re excited to see various projects popping up, and we’re looking forward to how Geojam can continue to transform and evolve the space. Opportunities in the space lie in achieving mainstream adoption and popular appeal.

## 2.What are the features that distinguish Geojam from other similar projects? 
**Sarah(CEO) & Sam(COO):**
Our team has extensive experience in web3, tech, and social media / entertainment (talk abt board, talent officer, etc.). We are uniquely positioned in this new landscape.

We’re all about building community. Our daily prompts build community with your friends and family in a genuine way, removing the anxiety associated with posting on social media to portray a perfect life. Our weekly and monthly prompts take it a step further and build on your favorite creators, brands, and fans communities. We offer unique, once-in-a-lifetime experiences and challenges so that we can truly experience moments together with the world. We’ve already undertaken awesome, unforgettable experiences for our fans and it’s just the beginning. We’re actively partnering with creators and brands to expand on and grow our activations.

We have IP and tech in order to run our platform, sync-chain, transactions, and wallet in a smooth, easy to use way which will help with a seamless mass adoption in the web3 space
We’re leveraging the power of AI into our ecosystem to drive genuine engagement and help come up with optimal, engaging prompts and the most highly-anticipated experiences.

## 3. Please explain in detail about the unique engage-to-earn model of GeoJam so that the audience can understand the platform better.
**Sarah(CEO) & Sam(COO):**
We’re making it fun to engage and earn on our platform with the Jam Token. In true DeFi / SocialFi fashion, we’re shifting the value generated on the platform back into the hands of the users.

JAM Token is a engage-to-earn token, as it rewards its users for participating and engaging in various activities and contributing to the network in many ways. The key characteristic that makes JAM Token token engage-to-earn is its ability to offer real financial incentives for engagement, rather than serving as a speculative asset.

Our engage-to-earn incentivization mechanism is designed to align the interests of token holders with the success of the project and to create a self-sustaining ecosystem. Users can earn rewards by participating prompts and engaging on the platform. We’re coming up with exciting gamification incentives that result in a fun, exciting user experience.

These activities add value to the network, and increase engagement. Usage can create a virtuous cycle and a strong network effect that can enable growth. Users on our platform will be able to earn and spend JAM Token in order to holistically engage and create together on the platform with friends, communities, and brands.

The JAM Token is ultimately a engage-to-earn token that rewards its users for actively engaging within our new social platform, building a sense of community and contributing to the success of the project.

## 4. Any updates since GeoJam launched on Gate.io?  What advantages has “Play to Earn” provided to GeoJam?
**Sarah(CEO) & Sam(COO):**
As we test and gather feedback, we’re evolving our platform to drive genuine engagement and experiences for our communities and fans, and we’re integrating the use of AI as one of our mechanisms to do so.

We’ve got some massive marketing pushes coming up, like a spot in a world-famous rapper’s music video
We are already planning and preparing for one of our biggest events of the year, Jamchella, Geojam’s famous marketing campaign surrounding one of the biggest music, art, tech, and culture festivals in the world, Coachella.

Our play to earn model is one of the main pillars of the Geojam ecosystem and vision. It’s how we drive genuine engagement, build communities, and redirect the <a href="/id/price/flow-flow" target="_blank" class="blog_inner_link">Flow</a> of incentives back towards our beloved users.

## 5. What stage has GeoJam reached now?Are all targets in accordance with the current road map? and what are the next steps that will be taken in the future?
**Sarah(CEO) & Sam(COO):**
We’re currently raising another round of funding as we continue to grow and expand our operations and technology. We’re thrilled to have a working product and bring real-life experiences to life through our project and the Jam Token, which is superior to many crypto projects out there.

All our targets are lined up with the road map and we’re constantly working behind the scenes with our super passionate team in order to continue building and create the best platform we can for our users.

As we grow and expand, we continue to push on marketing efforts to drive visibility and users. We are always building and coding to create a seamless experience that our users will enjoy. We’re working to achieve additional listings on top exchanges as well.

Click here to review the lIve AMA>>[AMA-Geojam(SocialFi)](https://www.gate.io/live/video/b3a73102d3d70188b5c64901d064d1de "AMA-Geojam(SocialFi)")

<div class="blog-details-info">
<div>Author:** GateLive**, Gate.io Team
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
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