News Byte: TUNEFM $20 MILLION INVESTMENT DEAL WITH LDA CAPITAL/APP RELEASE IMMINENT
Tune Media Inc. the company behind the groundbreaking web3 music streaming platform, Tune.fm has recently announced it has received a $20 MILLION investment from LDA CAPITAL into its token $JAM and its streaming platform. Read more about the deal here.
This comes shortly after GDA CAPITAL had announced its partnership and investment into Tune.fm for a still undisclosed amount. Read more here.
These deals are significant steps for the platform and especially the $JAM token which powers all aspects including streaming royalties and NFT purchases on the web3 marketplace. Since the announcement, the token’s price has already increased more than 100% but it’s marketcap still sits at just over $3.6 million as of 20th January 2024. Comparing this to the $225 million marketcap (ATH above $1 billion) of its closest web3 competitor, Audius' $AUDIO token, there is plenty of room for $JAM to grow in the cryptosphere yet. But when we consider Tune.fm is in talks to on-board a music catalogue larger than Spotify, Tune.fm has set its ambitions higher and seeks to become one of the biggest players in music streaming.
On the back of the $20 million deal, Wednesday 24th of January 8am PST has been set as significant. On this date a podcast will be made public featuring founder Andrew Antar. Rumours are going around that then or shortly after, the highly anticipated iOS and Android Tune.fm app will be released. Be sure to Tune into the event. Details are here.
Updates will be provided here as they happen. Be sure to check back for more news and an app review in the near future.
Thanks for reading! Check out and join Tune.fm here, Join their Telegram channel here, and find a great summary of the platform’s key features here.
