NEW YORK, Oct. 04, 2017 (GLOBE NEWSWIRE) -- Digital Arts Media Network, Inc. (OTCMKTS:DATI), a specialized tech accelerator leveraging the Public Accelerator-Incubator (PAI) model, has aligned with Vezt, Inc., a blockchain based music royalty sharing app, to leverage the Angels+ program.
Vezt, Inc., co-founded by music executive Steve Stewart, provides music artist with an equitable and transparent platform to easily monetize songs in a unique way. The blockchain based music platform allows fans to partner with artist on a song-by-song basis, providing fans with the opportunity to make money from an artist’s royalties and licensing income.
“Vezt has raised more than $3M in less than 12 months from rather savvy tech investors,” stated Ajene Watson, Chairman and CEO of Digital Arts Media Network, Inc. “We are happy to align with Vezt, Inc. through our Angels+ offering and will continue to assist them in any way needed. Given the tremendous support received from those music, blockchain and cryptocurrency experts at Vezt’s first event, Blockchain In Music Conference, it seems apparent that Vezt could be an overwhelming success for the music, blockchain and startup communities.”
Angels+ is a capital formation program giving startups like Vezt, Inc. the ability to provide angel and early-stage investors early liquidity options. In return, startups give a small slice of equity to Digital Arts Media Network for providing early liquidity to the startup’s angel investors. This equity is pooled together in a basket of other high-growth valued startups that make up the equity portfolio of Digital Arts Media Network.
Robert Menendez co-Founder and CFO of Vezt, Inc. commented, “Lack of liquidity is a real problem for angels when investing in startups. I understand this as both an investor and co-founder of startups. Assisting Ajene and his team develop a strategy that solves this problem, was important to me for both my own startup company [Vezt, Inc.] and the startup community at large.”
Steve Stewart, CEO of Vezt, Inc., commented, “It was not until I was interviewing an investor who faced the typical liquidity challenges that most angel and early stage investors grapple with, that I realized the potential value of Angels+ for tech startups. Simply seeing an investor’s liquidity concerns alleviated by the prospect of Angels+, turning a “no” into a possible “yes”, is what sold me.”
Vezt, Inc. and Digital Arts Media Network, Inc. initially established the relationship primarily for the Angels+ program. Management at both companies anticipate the business relationship will evolve accordingly.
Vezt, Inc. was formally founded in early 2017 by CEO and co-Founder Steve Stewart and CFO and co-Founder Robert Menendez. Receiving Pre-Seed funding from venture capital firms, including Binary Capital and Global Trust Group, Vezt operates offices in both Los Angeles and Atlanta where the company is developing a blockchain based music app that democratizes the way artists make and share music with fans while giving fans the ability to make money from an artist’s royalties and licensing income.
Vezt has assembled a talented engineering and design team with deep backgrounds in blockchain, UX/UI, and design. In addition, Vezt has tapped a number of successful and highly experienced advisors for their expertise in music, publishing, blockchain, and cryptocurrencies.
Digital Arts Media 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 Arts Media Network will assist with the development and acquisition of innovations that solve problems through digital platforms and other electronic applications.
Digital Arts Media Network aligns with leading private accelerators, incubators and reputable angel investors to form unique partnerships. These partnerships enhance the vetting process and expedite traction. Further, Digital Arts Media Network partners with successful entrepreneurs, venture capitalists, and development teams to provide startups with general and functional mentorship from industry leaders.
Digital Arts Media Network offers all investors the ability to (i) diversify, (ii) maximize success, (iii) see money at work, and (iv) exit. For those persons invested directly in the PAI, there is an additional opportunity to effectively support startup ventures through mentorship, and angel investors in startup ventures receive additional benefit from various strategies which further hedge and mitigate risk.
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