Tune.FM is revolutionizing the music industry by empowering artists with up to 90% of streaming revenue on its Web3 platform. The platform has recently secured a $20 million investment, backed by Hedera, promising a decentralized future that challenges streaming norms and prioritizes revenue for artists.
The music industry is taking a significant step towards decentralization with this capital injection into Tune.FM, a Hedera Hashgraph-based Web3 platform. This initiative, supported by alternative investment group LDA Capital, is primarily aimed at giving musicians a larger share of royalties from their work.
Powered by Hedera Hashgraph’s blockchain technology, Tune.FM stands as a beacon for musicians, offering them a platform to receive streaming micropayments on their native JAM token (JAM). The platform also enables the creation of non-fungible tokens (NFTs) for digital music assets and collectibles.
Tune.FM’s fundamental premise stems from criticism of conventional streaming platforms. The platform states that large corporations take the majority of the profits, leaving artists with a small slice of the pie. Tune.FM seeks to subvert this standard, offering artists up to 90% of their streaming revenue.
Decentralization of industries where money and influence are concentrated in a few hands is a vision often touted as a potentially massive use case for blockchain technology. With the return of a bull market in digital assets, capital is expected to flow into platforms such as Tune.FM, providing them with the opportunity to put this theory into practice.
Tune.FM aspires to be a disruptor in the digital music space and is committed to being a catalyst for change. By empowering artists with a significantly higher percentage of their earnings, the platform positions itself as a driving force to redefine the economic dynamics in the music industry.
With the $20 million investment, Tune.FM intends to consolidate its position as a leader in the Web3 music revolution. The platform aims to create an ecosystem where artists are fairly rewarded for their art. Tune.FM is set to be a game changer in the music industry, challenging the status quo and paving a path towards a fairer and more equitable musical future. With the right financial backing, Tune.FM is poised to translate its ambitious goals into a tangibly harmonious reality for musicians around the world.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | None |
| Companies | CoinDesk, LDA Capital, Tune.FM, Hedera |
| Currencies | TokenFi |
| Securities | None |
