Tune.fm, a decentralized music streaming platform, has received $50 million in investment from emerging markets around the world, bringing its total funding to $80 million. The new funds will be used to provide liquidity for the JAM token within the platform to better reward artists and users. The platform uses Hedera blockchain technology to provide streaming income to music artists, while users can also earn tokens by discovering and listening to newly promoted songs.

Key Points

- Tune.fm has raised a total of $80 million with the new $50 million investment.

- The investment funds will provide liquidity for the JAM token to reward artists and users within the platform.

- The platform provides music streaming services with an integrated NFT marketplace.

- Artists can earn micropayments for streaming per second, and users can earn tokens by discovering new music.

- Tune.fm uses the Hedera blockchain to automatically create blockchain wallets for users to simplify first-time use.

- Existing similar platforms, such as Royal, allow fans to co-own music copyrights by purchasing NFTs associated with songs.

- The global music streaming market is expected to reach revenues of approximately $34 billion by 2027.