Mathew Knowles adds his Grammy award winning music catalog to tune.fm, launching the first music streaming platform with the JAM token cryptocurrency running on Hedera Hashgraph
Sep 16, 2019, 20:01 ET
PHILADELPHIA, Sept. 16, 2019 /PRNewswire/ -- Music Mogul Mathew Knowles who's best known for managing Destiny's Child and grooming his daughters Beyoncé and Solange to mega stardom from his label Music World Entertainment (MWE) has signed on to the Advisory Board of hearo.fm Inc., today launching tune.fm the first music streaming platform with an integrated cryptocurrency (JAM) to run on Hedera Hashgraph's public distributed ledger technology (DLT), also launching public open access today.
"I see cryptocurrency and streaming paired together as the wave of the future," said Mathew Knowles, owner of MWE Corp, "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 has over 4,500 songs including many Grammy award winning artists. Today, MWE begins earning JAM tokens for every second of streaming alongside thousands of artists around the world on tune.fm today. The JAM token enables micropayments for each second streamed by running on the fastest and most secure distributed ledger technology (DLT) available today, Hedera Hashgraph. Tune.fm is a totally new pay-as-you-go business model for the music industry that pays artists fairly and instantly. When the music gets played, the artist gets paid.
Before becoming tune.fm, the music platform was a fiat (USD) based marketplace and social network for independent artists called hearo.fm. Brothers Brian and Andrew Antar, classically trained violinists, started the building platform in their dorm rooms while at Penn and Brown for musicians and artists to connect directly with fans and level the playing field for distributing music. They grew the network through grassroots efforts to amass a collection of thousands and artists and songs from around the world. In order to democratize music streaming and enable artists to get paid a living wage for their music, the Antar brothers created a new tokenized model for streaming-based compensation with micropayments for every second.
The company chose Hedera Hashgraph as the only technology that would enable this level of high performance real-time micropayments.
"Tune.fm is revolutionizing the way that artists interact with their fans and get fairly compensated for their creations," said Jordan Fried, SVP of Global Business Development for Hedera Hashgraph. "We are delighted that they have chosen to build such an important offering on top of the Hedera network, which will allow Tune.fm to provide cryptocurrency payments at a fraction of the cost of delivering them on other public platforms."
Fans can earn JAM tokens too for streaming new music they've never heard, and artists can promote their music by purchasing verifiable first time streams with their JAM tokens. There will be many products and services denominated in the JAM token cryptocurrency available on the tune.fm decentralized marketplace.
Earn 100 free JAM tokens in your wallet just for signing up on tune.fm and discover new artists from unsuspecting places anywhere in the world. The tune.fm mission is to enable artists to earn a living wage by cutting out the middle man and going direct to fan. With artists in control of their rights and able to earn instantly as their music is streamed for the first time ever, tune.fm is turning the tables on the music business.
Tune.fm is a new music streaming platform launched by the company hearo.fm Inc. The company was founded with a mission to help artists earn a living wage from their music. The founders are working to fulfill that mission by creating a new tokenized business model for music streaming that fairly compensates artists. This is made possible by the JAM token which enables micropayments for every second of streaming. The JAM token is powered by the groundbreaking speed and security of Hedera Hashgraph, the world's most advanced distributed ledger technology. Tune.fm is the first music streaming platform to launch on Hedera Hashgraph.
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Hedera is a decentralized public network where anyone can carve out a piece of cyberspace to transact, play, and socialize in a secure, trusted environment. Developers can build secure, fair, blazing-fast decentralized applications on top of the Hedera platform. Dr. Leemon Baird, Hedera Hashgraph Co-Founder and Chief Scientist, and Mance Harmon, Co-founder and CEO of Hedera, invented and developed the groundbreaking hashgraph technology after working at the United States Air Force Academy and as founders of Trio Security, BlueWave Security, and Swirlds, Inc.
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