decrypt.co
Tune.fm, a streaming music service built on the Hedera Hashgraph public blockchain, has announced a deal with Mathew Knowles to put his Music World Entertainment label’s artists on the platform.
Knowles is the father of R&B icon Beyoncé Knowles as well as Solange Knowles. Music from both artists will be available through the service, along with music from Beyoncé’s former group, Destiny’s Child, and solo efforts from the other members. Chaka Khan and Kool & The Gang are also included in the Music World Entertainment portfolio. It’s not yet clear exactly how much music from each artist will be available for streaming.
Tune.fm uses the JAM token to make micropayments directly from listeners to artists for every second of music playback on the service. The service also plans to add the ability for users to earn JAM tokens by listening to specially-promoted music, giving them an incentive to check out new artists.
“I see cryptocurrency and streaming paired together as the wave of the future,” said Knowles, also a Tune.fm advisor, in a release. “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.”
According to a release, Tune.fm envisions music fans using the JAM token for much more than streaming, including concert tickets, merchandise, affiliate referrals, and more.
Tune.fm is the first streaming music service built on Hedera Hashgraph, which claims the ability to handle 10,000+ transactions per second with low fees and swift transaction confirmations. However, the recent public mainnet beta launch was followed by a 90% drop in the value of its HBAR token.