Tune.FM, a decentralized music streaming platform built on the Hedera Hashgraph blockchain, has secured a $50 million capital commitment from the Global Emerging Markets (GEM) Group. This funding comes just eight months after raising $20 million in a previous round.
Tune.FM aims to revolutionize how artists earn by leveraging “streaming royalty micropayments” and digital music collectibles through its native JAM token. The platform enables artists to promote their music and reach new audiences, allowing listeners to earn JAM tokens while discovering music. This model ensures artists see a return on investment as their music gains more streams.
The newly acquired funds will be used to expand the platform’s user base, promote the JAM token, and support marketing, development, and new product offerings. Tune.FM also plans to launch desktop applications for Mac and Windows, complementing its existing mobile apps available on the Apple App Store and Google Play Store.
By using the Hedera blockchain, Tune.FM facilitates instant micropayments, allowing artists to earn royalties in real-time for each second their music is streamed. This addresses the revenue challenges faced on traditional platforms, which typically take a large portion of the earnings. Tune.FM’s blockchain-driven model ensures fairer compensation and financial sustainability for artists.
With this latest round, Tune.FM has raised a total of $80 million. Backed by key investors such as LDA Capital, Alpha Token Capital, Animoca Brands, and The HBAR Foundation, the platform is positioned to become a leading force in the future of decentralized music streaming, offering a more equitable system for artists and a better listening experience for fans.
