TUNE.FM is an industry first artist network

Introduction

The tune.fm tokenized music marketplace provides streaming micropayments, NFTs, and live social audio experiences for artists to earn directly from their fans.

TUNE.FM, a tokenized music marketplace platform, today announced that it will utilize the power of the new Hedera Token Service (HTS) to deliver real-time music streaming micropayments, limited release NFT minting services for artists, and tokenized live social audio experiences.

HTS is a new Hedera service that offers the ability to issue and configure native fungible and non-fungible tokens on Hedera, taking full advantage of Hedera Hashgraph’s native performance, security, stability and governance. HTS offers a faster and more efficient alternative to smart contract token creation.

"Tune.fm is excited to launch the JAM token on Hedera Token Service — Hedera Token Service is the ultimate native token service that will enable us to truly realize our original vision for real-time micropayments at lighting speeds with super low fees."
ANDREW ANTAR

CO-FOUNDER, TUNE.FM

Tune.FM is on a mission to help artists earn a living by radically evolving the music industry with a new business model for artists to earn directly from their fans. With HTS and the power of Hedera, thousands of tune.fm artists can earn JAM tokens for every second their music is streamed, so when the music gets played the artist gets paid.

The JAM token is the global reserve currency for the music economy, backed by the fundamental value of music. The tune.fm community is fostering an ecosystem of artists and fans by giving them tools to earn JAM tokens together by discovering, streaming and curating music on the platform. Artists and fans can buy and sell rare NFTs for limited releases, exclusive content and special live experiences.

Tokens created using HTS inherit many of the characteristics of HBAR, including asynchronous byzantine fault tolerant (ABFT) consensus, world-class governance, and thousands of transactions per second with finality — in addition to predictable, low fees. HTS offers the ability for anyone to access stable coins, security tokens and more, issued on Hedera by creating a Hedera account.
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TUNE.FM is an encrypted music marketplace for NFT music.
Thu. 11/11/2021

by nam jjg

Tune.fm has tapped cryptocurrency startup Hedera Hashgraph to enable fast payments for artists. Pretty soon, you’ll be able to use the Hedera-based cryptocurrency to pay for songs from Beyoncé, Solange, Chaka Khan, and Le’Andria Johnson.

The application is an important step for Hedera, a new decentralized ledger that combines peer-based security and transparency with transactional speed and whose value has until now been theoretical.

Musical artists have always struggled to get their fair share of the revenue their music generates. But this new system will enable a pay-as-you-go business model, using a Hedera-based cryptocurrency token called Jam that enables fast micropayments for every second of music that streams between artists and fans.

Tune.fm will let consumers use the Jam cryptocurrency to pay for songs in Music World Entertainment’s (MWE) music catalog. The catalog was founded by music mogul Mathew Knowles, who is also a Tune.fm advisory board member.

“I see cryptocurrency and streaming paired together as the wave of the future,” said Knowles in a statement. “Tune.fm has put together an incredible platform with a unique user experience, and Music World Entertainment Corp is excited to share its content on the Tune.fm platform.”

The MWE catalog features many Grammy award winners among its extensive list of popular talent.

“The existing industry business model is not profitable and squeezes artists. Streaming platforms pay the vast majority of their revenue to publishing companies, and they leave artists with only about 10% of that,” said Tune.fm cofounder Andrew Antar in a statement. “Our unique business model is only now possible with the fastest and most secure distributed ledger technology available today from Hedera Hashgraph, which powers the Jam token. Jam is the cryptocurrency for the global music economy on our platform. When the music gets played, the artist gets paid.”

How the Jam token works
Jam tokens are used to pay for every second of streaming by directly connecting artists with their fans. Users can sign up and receive 100 Jam tokens for free to discover and listen to thousands of artists from anywhere in the world. As listeners stream music, Jam token payments are made into the artists’ wallet for every second of streaming. In addition, artists will soon be able to promote their music with Jam by paying out Jam tokens to first-time listeners of their songs, creating a pool of promoted music that fans can stream for compensation.

In the future, Jam will be the denomination for many products and services within the music marketplace on Tune.fm, including affiliate referrals, gamification, reviews, merchandise, tickets, and VIP experiences. Tune.fm is creating a crypto jukebox that is growing into a global music ecosystem. With artists in control of their rights and able to earn instantly as their music is streamed, Tune.fm is turning the tables on the music business, Hedera said.

play fees in order to access a library of over 30 million songs

which needs to be supported by extensive audio and display ads or

subscriptions to pay the fees. This license was created to mimic

terrestrial radio streaming, in which the user has no control over

song selection but is served up songs based on general genre, artist,

or mood preferences. This license has created products like

Pandora, Songza, and many other discovery and ‘radio’ streaming

digital products on the market.

The On demand streaming license, which has created services like

Spotify and Apple Music, demands a higher per play fee and takes

a percentage of revenue, equity, and cash advances in order to

obtain a blanket license covering around 30 million songs that fans