Spotify rival set for ICO in 2019

Hearo.fm opens up presales of its token, as it looks to revolutionise music streaming…

A relatively new platform that’s taken on the likes of Spotify is set to launch its own cryptocurrency, it’s been revealed.

Hearo.fm is already in the demo stage, and it’s a platform whereby music artists can stream their work, and can get direct rewards when people listen to their music. It sells itself under the line “the global music economy for artists and fans”.

Musicians will get their rewards for their work via Jam Tokens, which are at the token presale stage now. The Jam Token itself works under the simple line of “when the music gets played, the artist gets paid”. Furthermore, those who curate music using the Hearo.fm service can also expect rewards via Jam Tokens too. They’ll get credit, if all goes to plan, when they review albums as well.

The Jam Token is based on ERC20, and once it’s fully integrated with the Hearo.fm platform, the idea will be to create a service called Tune.fm. That will then become “a fully tokenized music economy for global decentralized cryptocurrency micropayments between artists and fans for streaming and curating music”.

Furthermore, it’s put together on distributed ledger tech from Hedera Hashgraph, that claims to facilitate hundreds of thousands of transactions every second, but with virtually no fees.

You can find out more about the Hearo.fm project at its website here, and specifically about the Jam Token here.

The full ICO is set to take place early in 2019, with the idea being for the full platform launch at the end of 2019.