Tune.FM Secures $50 Million to Revolutionize Music Streaming for Artists
TL;DR
- Tune.FM has secured $50 million in funding from GEM Group, following a previous $20 million round.
- The platform aims to enhance artist earnings through micropayments and digital collectibles using its $JAM token.
Web3 music platform Tune.FM has announced a significant capital commitment of $50 million from the Global Emerging Markets (GEM) Group, just eight months after raising $20 million in an earlier funding round. Operating on the Hedera Hashgraph blockchain, Tune.FM focuses on providing decentralized music streaming solutions that aim to boost artists' earnings through innovative payment structures.
The newly acquired capital will be utilized to expand the user base and promote the $JAM token, alongside marketing and development efforts. Plans include launching a desktop application for both Mac and Windows, complementing existing mobile applications available on the Apple App Store and Google Play Store.
Tune.FM seeks to help artists earn more through streaming royalty micropayments and digital music collectibles using its native $JAM token. This approach allows artists to engage new listeners through a play-to-earn model, enabling them to see returns on promotional efforts as fans stream their music repeatedly. As Tune.FM continues to grow, it aims to create a more artist-friendly environment in the music industry, potentially reshaping how artists interact with audiences and monetize their work.
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