Public accelerator-incubator Digital Asset Monetary Network Inc. made an initial investment in Project Jam Inc., also known as Project Justice For All Musicians.
Digital Asset committed to fund a portion of Project JAM's capital requirements. The company anticipates that Project Jam will exceed its capital requirements during its equity crowdfunding raise on truCrowd Inc.'s specialized music portal, MusicFy.
Project Jam is a blockchain component and social media platform that helps stakeholders in the music industry to address fairness and transparency challenges. Digital Asset assists client-companies in leveraging the JOBS Act as part of its public accelerator-incubator model.
Digital Asset said its decision to invest in Project Jam came after audio company Spotify AB purchased SoundBetter LLC.
