- February 7, 2020
- Posted by: Ajene Watson
- Category: Coffee Talk
Did you know that the first ever mobile app where music fans can share royalty rights for songs and recordings by artists they love is a company within the DigitalAMN equity-portfolio? Pretty cool, huh?
This same multi-million dollar startup is also our first Angels+ participant, which means its part of the DigitalAMN equity-portfolio.
This blockchain-component music royalty sharing app has already sold out of portions of the royalty rights of songs [offered on the platform] performed by Beyoncé and Panic At the Disco – in record time. Revenues. App downloads. Royalty sellouts. Heck! For a young startup, the KPI for this gem is solid.
Therefore, we’d be remiss not to consider, on behalf of our stakeholders, to increase DigitalAMN’s participation in VEZT, Inc. Take a look for yourself. This is an exciting venture and we’re in the ‘good company’ of a few very substantial and established Angel and VC investors who share this belief.
Be mindful, that in a very short period of time and with a small marketing budget, Vezt, Inc. has already achieved close to 150K app downloads and is quickly approaching $1M in the sale of music royalty rights. Given this, we are confident that with an aggressive marketing push, Vezt will soon be able to quickly sell the more than $10M in song royalties from the music catalogs they’ve secured from one of the world’s most prominent music groups – and we intend to support this effort with our own increased participation in Vezt.
This leads DigitalAMN to re-explore the possibility of leveraging the JOBS Act to the benefit of Vezt; seeking to have Vezt Inc. possibly make a Reg. CF offering on one of TruCrowd’s equity crowdfunding portals. Further, following a recent loan DigitalAMN made to Vezt in the beginning of 2020, we are exploring the possibility of providing Vezt with additional capital to assist with boosting sales by scaling its marketing efforts.
We strongly believe that Vezt will be wildly successful in its endeavors; contributing to DigitalAMN’s long-term value.