Tune.FM, Music Streaming Project on Hedera Blockchain, Gets $50M Capital Commitment

Web3 music platform Tune.FM said Wednesday that it has secured a $50 million capital commitment from the Global Emerging Markets (GEM) Group. The news comes just eight months after Tune.FM shared it had raised $20 million in a funding round. Tune.FM, which describes itself as a decentralized music-streaming project atop the Hedera Hashgraph blockchain, aims to help artists earn more in royalties from their music by “streaming royalty micropayments and digital music collectibles,” with its native JAM token. The new capital will go towards growing its users as well as towards efforts to promote its token Tune.FM said.

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