The company has now raised $80M in its efforts to cut out the middleman between artists and music streamers. Unlike traditional platforms where artists receive a fraction of streaming profits, Tune.FM claims to pay artists 90%of their streaming revenue through its JAM token. This stands in contrast to industry giants like Spotify, which distributes “nearly 70%” of its music revenue to rightsholders, who then further distribute it to artists and songwriters.
Source: Web3 music streaming platform Tune.FM raises $50m in funding