On September 12th, according to Cointelegraph, the decentralized music streaming platform Tune.fm announced a financing of 50 million US dollars, and LDA Capital, Alpha Token Capital, Block Alpha, Animoca Brands, The HBAR Foundation and GDA Capital participated in the investment. So far, the total financing amount has reached 80 million US dollars. The new funds will be used to provide liquidity for the agreement's JAM token, which is used to reward artists and users within the platform.
The platform provides music streaming services through an integrated NFT marketplace. Artists are paid a small amount for every second their music is played, while users can earn tokens by discovering and listening to newly promoted songs. The platform is powered by the Hedera blockchain.
Decentralized music streaming platform Tune.fm raised $50 million, Animoca Brands and others participated
2024-09-12 03:06:47
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