NEW YORK, June 20, 2019 (GLOBE NEWSWIRE) -- Digital Asset Monetary Network, Inc. or “DigitalAMN” (OTCMKTS: DATI), a Public Accelerator-Incubator (“PAI”), announced today, that DigitalAMN’s first Angels+ client, the privately held Vezt Inc. (Token: VZT), continues to add to its success by connecting some of the biggest music artists in the world directly with their fans, allowing everyday people to invest in and own the rights to their favorite artist’s music – as evidenced by the royalty rights portion of songs being offered for Beyoncé and Panic At The Disco, selling out in record time on the Vezt platform.
Vezt Inc. is the first and only blockchain based, music royalty sharing platform, that gives music fans a direct financial interest in an artist’s published work; allowing everyday people to acquire song rights and earn money from them.
Management for Vezt had recently reported (i) over 70,000 App downloads for iOS and Android; (ii) average users spent approximately $110.00 per investment; (iii) reorder transactions grew to 65%; and, (iv) the average customer purchased the rights to 4.2 songs. Beginning with a $75k investment, “Vezt has now expanded operations to two continents, is organizing an international K-Pop concert, and is in the process of acquiring rights to hundreds of songs that the company will make available on the Vezt app – for everyday fans to own more of their favorite music,” stated Ajene Watson, CEO of DigitalAMN.
Watson continued, “Vezt has grown from $5,000 raises per artist, to over $50,000 raises per artist, has dozens of Initial Song Offerings (ISOs) listed on their platform (including that of Beyoncé, Meek Mills and Panic at the Disco) and is continuously scaling revenue. If Vezt continues on its current trajectory, this will be a tremendous success for all those involved. And, as DigitalAMN’s first Angels+ participant, this win would demonstrate to angel and early stage investors, as well as DigitalAMN shareholders, the incredible value that can be derived from the Angels+ program.”
“Vezt has achieved a tremendous amount of success over the past year,” stated Robert Menendez, COO & Co-Founder of Vezt. “We recently hit our highest monthly revenues to-date; conducting over 14,000 transactions on our blockchain based platform. Should we continue meeting our benchmarks – especially with what’s planned for K-Pop from our South Korea office – we can easily see 100,000 transactions by year-end.”
Watson concluded, “One of my favorite things about Vezt remains the connection between the financial education of everyday people and the disruption in how music artists take even more control over their artistry and money. Before Vezt, there was no way for the average person, who is also a fan of some genre of music, to invest in their favorite artist. Thanks to Vezt, now, all that has changed.”
“This is truly great news as we bring aboard our newest client-company, JAM Compass (another blockchain based company addressing other music industry injustices). We anticipate that JAM [Justice for All Musicians] will also become an Angels+ participant. And, given the success of our first Angels+ participant, this, is music to my ears.”
About Vezt Inc.
Vezt™ (www.vezt.co) is the first blockchain-based mobile app where music fans can acquire a royalty interest in their favorite songs and recordings. Founded in 2016, the company is headquartered in Los Angeles, California, and has completed more than 12,000 music rights transactions since the launch of their app last September, and is currently onboarding rights from record labels, publishers, independent artists, writers and producers. The Vezt mobile app is available on iOS and Android. See the website www.vezt.co and Twitter profile @veztinc for more information.
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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Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking.
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