Draft:Tune.FM

Tune.FM is a decentralized music streaming platform and music NFT marketplace, founded by Andrew Antar and Brian Antar.

The platform was designed to address several perceived deficiencies in the music industry, using distributed ledger technology to achieve a fairer allocation of revenues for artists, and a more active role for fans.

Platform
The Tune.FM platform is marketed under the claim ‘When the music gets played, the artist gets paid’.

Described as a ‘musical social network’, Tune.FM aims to differentiate itself from online radio stations and mainstream digital distribution services, where artists typically get paid only around 12% of the total revenue generated by their songs.

Artists on the platform earn money from streaming instantly via micropayments, delivered in the form of JAM tokens. Artists can set their own prices and retain up to 90% of the revenues, which is approximately 10-100 times more than offered by mainstream services.

The use of cryptographic tokens makes it possible to eliminate the cost associated with intermediaries (e.g. traditional record labels), one of the main purported benefits of Web3. The Hedera Hashgraph DLT allows hundreds of thousands of transactions to take place per second with "virtually no fees", overcoming the problems associated with many blockchain solutions.

Functionality
Artists receive tokens when their tracks are played, in proportion to the number of seconds played. They can also earn tokens by selling digital collectibles, such as unlockable experiences (e.g. backstage passes, exclusive releases, merchandise, FaceTime calls).

Additionally, artists can reward listeners with JAM tokens (e.g. for playing or reviewing new tracks). This two-way nature of tokens is intended to create a ‘win-win’ system in which fans and artists alike are compensated.

Future plans for the platform include a mobile app, offering Tune.FM’s technology to labels and publishers, and a musical festival metaverse with token-gated virtual live shows.