Decentralized Music Platform Tune.fm Secures $50 Million Financing to Boost JAM Token Liquidity and Develop a Music NFT Marketplace
Publication Time:2024-09-12 11:11:10
Decentralized music streaming platform Tune.fm announced the completion of a $50 million funding round aimed at further strengthening the liquidity of its JAM token within the protocol, while constructing an integrated NFT market to elevate user experience. Following this round, Tune.fm's total funding stands at $80 million, with investments from notable institutions such as LDA Capital, Alpha Token Capital, Block Alpha, Animoca Brands, The HBAR Foundation, and GDA Capital. By integrating Hedera blockchain technology, Tune.fm provides artists with a novel revenue model: earning small payments for every second of music played, and enabling users to earn tokens by exploring and listening to new promoted songs. This innovative approach not only accelerates the digital transformation of the music industry but also establishes a new channel for interaction between creators and listeners.
Tune.fm
Decentralized Music
JAM Token
Music NFT Marketplace
Hedera Blockchain