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TUNE.FM Launches the JAM Token on Hedera Token Service to Radically Evolve the Music Industry

TUNE.FM, a tokenized music marketplace platform, today announced that it will utilize the power of the new Hedera Token Service (HTS) to launch the JAM token. It aims to deliver real-time music streaming micropayments, limited release NFT minting services for artists, and tokenized live social audio experiences. The tune.fm tokenized music marketplace provides streaming micropayments, NFTs, and live social audio experiences for artists to earn directly from their fans.

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 to 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.

About tune.fm

tune.fm is a tokenized music marketplace helping artists earn a living with streaming micropayments, NFTs, and live social audio so when the music gets played, the artist gets paid. The tune.fm streaming platform features thousands of artists from around the world including several Grammy award winners. 

About Hedera

Hedera is the world’s leader of a decentralized public network on which developers can build secure, fair applications with near real-time finality. The platform is owned and governed by a council of the world’s leading organizations including Avery Dennison, Boeing, Dentons, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group.

Photo by Spencer Imbrock on Unsplash

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