STREAMING SERVICE LAUNCHES ‘JAM’ TOKEN CRYPTOCURRENCY ON THE HEDERA HASHGRAPH PLATFORM
hearo.fm Inc. has announced that they will be launching the JAM token cryptocurrency built upon Hedera Hashgraph’s distributed ledger technology (DLT), which will be fully integrated with a new music streaming service called tune.fm.
The music technology startup hearo.fm Inc., founded by Philadelphian brothers Andrew Antar and Brian Antar, allows fans to discover and stream music from artists around the world, whilst ensuring that artists are fairly, transparently and quickly compensated for their work, helping to fully democratise the music industry. hearo.fm is currently running as a fully functional demo platform with over 5,000 artists already making use of it.
Both a social media and music streaming platform, hearo.fm provides artists and fans with an incredible streaming experience, complete with high quality music from artists around the world. The site has a unique visual discovery ‘map’ tool, which allows fans to discover local music from different countries, regions, and cities around the globe.
Artists receive JAM tokens when fans stream their tracks, which can be used for on-site marketing or cashed out to fiat currency. Fans are rewarded with JAM tokens for helping curate the music experience, such as reviewing albums and crafting playlists. Hedera Hashgraph allows hundreds of thousands of transactions to take place per second with virtually no fees. This allows micropayments for every stream and artists to keep 90% of the proceeds. The music ecosystem guarantees fans that their money is directly supporting the artists they love.
In the current music industry landscape, getting a new band heard by genuine fans is hard, and leads to artists getting anaemic payments from streaming platforms and labels. hearo.fm is creating an industry first non-exclusive platform that can hand control and profits back to artists, whilst still allowing fans to enjoy a rewarding music discovery experience.
hearo.fm is currently in the public presale phase of launching their JAM token cryptocurrency, ahead of their Initial Coin Offering (ICO) in Q1 2019. The fully tokenised streaming platform will launch as tune.fm in Q4 2019.