Music streaming platform Tune.FM, built on the Hedera blockchain, has secured $50 million in funding from Global Emerging Markets, according to a report by Cointelegraph, citing sources from the startup.
The raised capital will be used to support the liquidity of the platform’s native token, JAM, which plays a crucial role in its ecosystem by rewarding both artists and users. This token is a key driver of Tune.FM’s economy.
Following the investment announcement, JAM surged more than 21% in value over the past 24 hours, according to CoinMarketCap, reflecting growing confidence in the platform.
Tune.FM offers more than just music streaming services—it also integrates an NFT marketplace, allowing artists to receive micropayments for each second their tracks are streamed. Users can earn JAM tokens by discovering and listening to promoted songs on the platform.
“Users can easily sign up and start listening to music without needing an external cryptocurrency wallet. A blockchain wallet is automatically created during the onboarding process, simplifying the experience for those unfamiliar with cryptocurrencies,” a Tune.FM representative explained.
Джерело інформації та фото: cryptopolitan.