BEQUANT list its first music token: the JAM crypto
JAM is designed so that the artists receives 90% of revenue made through each stream
BEQUANT, the digital assets prime brokerage and crypto exchange, has announced the listing of its first music token, the JAM token from the tokenized music marketplace Tune.FM.
Powered by the Hedera Hashgraph (HBAR), the JAM crypto provides a global decentralised music streaming marketplace platform for artists and fans – and is designed so that the artist receives 90% of revenue made through each stream.
The system the JAM is creating is a “fully tokenised music economy, connecting artists and fans in ways not seen in the industry before”.
‘A global independent music marketplace’
Tune.FM has a mission of creating a “global independent music marketplace”.
Via the BEQUANT Pro prime brokerage platform, the crypto will also be available to be traded by institutional clients as well as retail investors.
Independent musicians suffered in post-Covid world
Andrew Antar, co-founder of Tune.FM, said independent musicians have been struggling to get by in a post-Covid-19 world because of unfair payments from streaming services.
He added: “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.”
George Zarya, CEO and founder of BEQUANT, said: “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 democratises 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.”