According to TechFlow, Web3 music platform Tune.FM announced that it has received a $50 million funding commitment from the Global Emerging Markets Group (GEM Group). Tune.FM said that the new funds will be used to increase the number of users, promote its tokens, marketing, development and new products.
It is reported that Tune.FM is a decentralized music streaming project based on the Hedera Hashgraph blockchain, which aims to help artists earn more royalties through “streaming royalty micropayments and digital music collectibles”. The platform uses native JAM tokens, allowing artists to expand their fan base by promoting music, and new listeners can discover newly promoted music by “playing and earning” JAM.