TechFlow reports that Web3 music platform Tune.FM has announced a $50 million funding commitment from Global Emerging Markets (GEM Group). Tune.FM stated the new funds will be used to grow user base, promote its token, marketing, development, and new products.
Tune.FM is a decentralized music streaming project built on the Hedera Hashgraph blockchain, aiming to help artists earn higher royalty income through "streaming royalty micropayments and digital music collectibles." The platform uses its native JAM token, allowing artists to expand their fanbase by promoting music, while new listeners can discover newly promoted tracks by earning JAM through a "play-to-earn" model.
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