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Tune.fm Raises $50M from Global Emerging Markets to Enhance Blockchain Music Platform

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Cointelegraph
507Words
Sep 11, 2024

Blockchain music startup Tune.fm has secured $50 million in funding from Global Emerging Markets, raising its total funding to $80 million. The investment will support liquidity for its JAM token, used to reward artists and users on its decentralized music streaming platform. Tune.fm, powered by the Hedera blockchain, integrates a non-fungible token (NFT) marketplace and offers micropayments to artists for streaming. The platform simplifies onboarding with automatic blockchain wallet creation for new users. The global music streaming market is expected to reach $34 billion by 2027, highlighting the industry's shift from CDs to streaming services.

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