Hedera-Based Tune.FM Raises $20M for Artist-Friendly Web3 Music Platform
Summary
Web3 music platform Tune.FM has secured $20 million in funding from LDA Capital. The platform uses Hedera Hashgraph's blockchain technology to allow musicians to receive micropayments for streaming in its native JAM token and to mint non-fungible tokens (NFTs) for digital music assets and collectibles. Tune.FM aims to disrupt the current music streaming industry by offering artists up to 90% of their streaming revenue. The platform's existing investors include Animoca Brands, the HBAR Foundation, and Broad Street Angels.
