Web3 music platform Tune.FM secures a commitment of $50 million in funding.

TechFlow News: Web3 music platform Tune.FM announced a $50 million funding commitment from the Global Emerging Markets Group (GEM Group). Tune.FM stated that the new funds will be used to increase user numbers, promote their token, market, develop, and create new products.

It is reported that Tune.FM is a decentralized music streaming project based on the Hedera Hashgraph blockchain. It aims to help artists earn more royalty income through "streaming royalty micro-payments and digital music collectibles." The platform uses the native JAM token, allowing artists to expand their fan base by promoting their music, and new listeners can discover new promoted music by "playing with" JAM tokens.