Tune.fm, a decentralized music streaming platform, has secured $50 million in funding from Global Emerging Markets, bringing its total capital raised to $80 million. This investment will be used to enhance liquidity for the platform’s native JAM token, which is crucial for rewarding artists and listeners for their activity. With previous backing from investors like LDA Capital, Alpha Token Capital, Animoca Brands, and The HBAR Foundation, Tune.fm continues to attract significant interest.

The platform operates with a unique model, using blockchain technology to ensure that artists receive micropayments for every second their music is streamed. Unlike traditional streaming services, Tune.fm’s system guarantees that the value of music is tied directly to user engagement. Users are also incentivized to discover new music, earning tokens as they listen to promoted tracks.

The streaming service includes an integrated non-fungible token (NFT) marketplace where artists can sell digital collectibles. Artists can begin monetizing their content without needing complex third-party wallets, making Tune.fm accessible for users unfamiliar with crypto. The platform automatically generates blockchain wallets for new users to simplify the onboarding process, allowing immediate access to streaming and earning tokens.

In response to the funding, Tune.fm commented on the shortcomings of major streaming platforms like Spotify, which often leave artists with only a small percentage of total revenues. “The problem with today’s major streaming platforms is that large corporations reap the lion’s share of the profits, leaving artists with a small piece of the pie,” the company said in a statement. In contrast, Tune.fm aims to empower artists by allowing them to retain a more substantial portion of the earnings from their streams.

The music industry is increasingly embracing blockchain technology, with platforms like Royal and eMusic also exploring new ways to support artists. Tune.fm’s approach addresses a growing demand for fair artist compensation, leveraging blockchain to disrupt traditional streaming models.

With the global music streaming market expected to hit $34 billion by 2027, Tune.fm’s expansion comes at a pivotal time as artists and consumers seek more equitable solutions for music monetization. The platform plans to use its new funding to further develop its NFT marketplace and boost global user adoption.