Decentralized music streaming platform Tune.fm raised $50 million, with participation from Animoca Brands, etc.

Odaily Planet Daily News: Decentralized music streaming platform Tune.fm announced a $50 million financing round, with participation from LDA Capital, Alpha Token Capital, Block Alpha, Animoca Brands, The HBAR Foundation, and GDA Capital, bringing the total funding to $80 million. The new funds will be used to provide liquidity for the JAM Token, the protocol’s native token used to reward artists and users on the platform. The platform provides music streaming services through an integrated Non-fungible Token market. Artists earn a small reward for every second their music is played, while users can earn Tokens by discovering and listening to newly promoted songs. The platform is supported by the Hedera blockchain. (Cointelegraph)