Direct to fan platform Hearo.fm Inc.is launching a cryptocurrency called the Jam Token, which will be fully integrated with a new music streaming service called Tune.fm.
Jam Tokens are built upon Hedera Hashgraph’s distributed ledger technology (DLT).
Hearo.fm is currently in the public presale phase of launching its cryptocurrency ahead of its Initial Coin Offering (ICO) which takes place in Q1 2019.
The fully tokenised streaming platform will launch in Q4 2019.
Hearo.fm was founded by Philadelphian brothers Andrew Antar and Brian Antar and is currently running as a fully functional demo platform with over 5,000 artists already making use of it.
Artists receive Jam Tokens when fans stream their tracks, which can be used for on-site marketing or cashed out.
Fans are rewarded with Jam Tokens for helping curate the music experience, such as reviewing albums and crafting playlists.
“When the music gets played, the artist gets paid.”
Andrew Antar, Hearo.fm
Hedera Hashgraph allows hundreds of thousands of transactions to take place per second with virtually no fees.
“Hedera Hashgraph is the only platform that will truly fit our technological need to enable lightning fast micropayments for music streaming around the world,” saidhearo.fm Founder Andrew Antar in August when the startup first revealed its plans to use the Hedera Hashgraph for its cryptocurrency.
“When the music gets played, the artist gets paid.”
“Enabling artists to benefit from their work directly is a perfect use case for the Hedera Hashgraph public distributed ledger,” said Jordan Fried, Global VP of Business Development at Hedera.
“We are pleased that the team at Hearo.fm, which is building an innovative platform to help artists connect directly with fans, has selected to build on top of the Hedera Hashgraph platform.”Music Business Worldwide
