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Apr 21, 2022, 06:00 ET
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TuneFM’s JAM Token is disrupting the music industry by utilizing distributed ledger technology and token payments to ensure artists are paid
ST. JULIANS, Malta, April 21, 2022 /PRNewswire/ — BEQUANT, the digital asset prime brokerage and exchange, is proud to announce the listing of its first music token, the JAM token from Tune.FM, on the BEQUANT Exchange.
The Tune.FM JAM Token is a Hedera Hashgraph-powered music token that enables a global decentralized music streaming marketplace platform for artists and fans. Each JAM token is paid almost instantly with minimal fees. This means the artist keeps around 90% of revenue made through each stream. This system of micropayments is creating a fully tokenized music economy, connecting artists and fans in ways not seen in the industry before.
The listing of the JAM token is the first music-focused token on the BEQUANT Exchange. Through the BEQUANT Pro prime brokerage platform, the token will also be available to be traded by institutional clients as well as retail investors.
Tune.FM embarked on the mission to create a global independent music marketplace for artists to collaborate, share their music, and connect directly to their fans. Tune.FM is a thriving music marketplace where users can discover great independent music from all around the world.
George Zarya, CEO and Founder of BEQUANT, commented: "We are thrilled to announce the listing of our first music-focused token on the BEQUANT Exchange and be able to support Andrew’s vision and cause."
"The music industry has shifted from buying to streaming in the last 10 years and now, Tune.FM’s Web 3.0 offering democratizes this principle and puts the money back into the hands of the independent artists. It’s a fantastic opportunity and we welcome Andrew and the team into the BEQUANT ecosystem."
Andrew Antar, Co-Founder of Tune.FM, said: "Post-COVID saw independent musicians suffer and with the likes of Spotify not paying them fairly, many were struggling to get by. We are the antidote for the millions of creatives that are not being paid fairly by the big streaming services."
"We are really happy to be partnering with BEQUANT and making JAM token available to retail and professional traders through their Exchange and Pro platform. We’re excited to start our journey together."
BEQUANT is where traditional investing meets cryptocurrency – a one stop solution for professional digital asset investors and institutions.
Located and regulated in Malta, BEQUANT’s breadth of products include prime brokerage, custody and fund administration, all enhanced by an institutional trading platform providing low-latency trading, liquidity and direct market access for investors.
The BEQUANT team is composed of experts from institutional, retail and digital financial services with experience in banking, derivatives, electronic trading and prime brokerage.
© BEQUANT Inc. 2022
Built for artists, for artists.
Tune.FM was built to give power back to the artist. Take control of your creations and your rights. You deserve it. Earn 10X+ more from streaming versus Spotify and others by keeping 90% of your streaming revenue (instead of less than 10%).
"When the Music Gets Played, the Artist Gets Paid."
About JAM Token
Powered by Hedera Hashgraph, Tune.FM’s JAM Token provides lightning fast seamless global value exchange through streaming micropayments. The enterprise-grade security of Hedera’s consensus algorithm (PoS) is the highest standard possible, aBFT (Asynchronous Byzantine Fault Tolerant).
The JAM token is the first native audio token built on the Hedera Token Service to be traded on an exchange, enabling for the first time ever streaming royalty micropayments with instant settlement. The blazingly fast high throughput (100Ks Tx/s with 3-5s consensus finality) and miniscule fees of a native Hedera token ($0.00001) allow pay-as-you-go micropayments, opening new frontiers for groundbreaking new business models for media consumption.
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