Geojam Talent Portal Protocols
We’re thrilled to announce the launch of our revolutionary decentralized marketplace. This transformative platform connects JAM Token holders with a vast and diverse network of talents, offering a range of services from tweets and Facetimes to strategy meetings, marketing partnerships, concerts, and more. JAM Token holders have access to a wide range of talent, including Geojam’s partnership with WME, one of the world’s largest agencies. The possibilities are endless.
Our decentralized marketplace allows for transparency, security, and efficiency. Let’s dive into how it works.
A buyer can place an offer for talent. This kicks off a potential transaction between a buyer and the talent. The JAM Token is held in escrow until the transaction is completed, rejected, or effectively disputed.
If the talent rejects the proposal, the funds are automatically refunded to the buyer. If the talent accepts the proposal, the transaction is pending, awaiting the next steps.
Once the talent performs the service (e.g., a tweet or a concert), the buyer can confirm its completion or open a dispute.
Once the buyer confirms the service has been provided and completed, the funds will be sent from the escrow account to the talent, finalizing the transaction.
The buyer would open a dispute if they are unsatisfied with the service provided. For example, the talent never tweeted or performed the concert. Or the tweet or concert did not meet the specified requirements agreed upon. In this case, the dispute is sent to our content operators. They will vote and decide whether the transaction should be refunded or completed and sent to the talent, finalizing the transaction.
The talent can also open a dispute if they are unsatisfied with the transaction, which would also trigger a vote from our content operators to decide whether or not the transaction should be completed and sent to the talent or refunded, finalizing the transaction.
The buyers and the talent can also provide counteroffers to a transaction if they want to alter the offer’s details.
In this case, as usual, the buyer places a beginning offer for talent, which is held in escrow awaiting further action.
The buyer can adjust specifics such as the token amount and the offer’s expiration date, which will, in turn, update the offer in escrow. The talent can accept the new proposal, initiating the smart contract protocol discussed above to begin the service. The talent can also reject the proposal, which will terminate the transaction, and the buyer will receive their tokens back.
The talent can also counter the bid to adjust the offer’s details. The buyer will then need to accept or reject the counteroffer. If the offer is ultimately rejected, the transaction will terminate, and the buyer will receive their tokens back. If the buyer accepts the counteroffer, this will update the offer in escrow and initiate the transaction’s smart contract protocol.
If a proposal is sent to the talent, and the talent fails to accept, reject, or counter the offer within the specified timeframe, the proposal expires. Then, the buyer can initiate a refund for the tokens in escrow or submit an updated proposal with new terms and a new expiration date. The new proposal will be sent to the talent to either be accepted, rejected, or expired.
Geojam’s decentralized Talent Portal marks the dawn of a new era in decentralized talent exchange, where creativity and innovation flourish on a global scale. Geojam allows individuals to explore, transact, and collaborate in ways like never before.