TuneFM, a music platform on the internet, got $20 million from an investment group called LDA Capital. The money will help Tune. FM help musicians make more money from their music.
TuneFM uses Hedera Hashgraph’s technology to help musicians make money from streaming. They can get paid with JAM tokens and create unique digital music items.
TuneFM said that big companies make most of the money from streaming music, leaving artists with very little. TuneFM wants to change that by giving artists up to 90% of their streaming money.
Many people think that blockchain technology could be used to spread out power and money in industries that are currently controlled by just a few people.
Despite its promise, we don’t have evidence to prove it yet. When the digital asset market gets better, more money should go to platforms like Tune. FM This will let them try out their ideas and see if they work.
TuneFM already has support from investors like Animoca Brands, the HBAR Foundation, and Broad Street Angels.