ANote Music on Algorand Hits €82K Royalties, Rivaling Hedera Tune.FM in Web3 Music
ANote Music, a music investment platform built entirely on the Algorand blockchain, generated €82,266 in royalties throughout April 2025 as reported by the developers.
The decentralized finance (DeFi) app joins web3 music innovations such as Hedera Hashgraph’s Tune.FM, a music streaming platform supported by Snoop Dogg.
In April, ANote Music paid out royalties from 12 music catalogs, marking the platform’s highest monthly payout to date. Here’s how both apps are innovating the music industry with blockchain technology.
ANote Music Brings Music Catalogs Onchain for Crypto Investors
ANote Music gives everyday crypto investors the ability to support music artists by investing in their music catalogs. The platform allows verified music catalog owners to list their catalogs on Algorand-based auctions.
Once a catalog is verified for legitimacy, it is auctioned on the platform. Investors can bid to acquire shares in the catalog, obtaining ownership rights once the auction concludes.
This process creates a peer-to-peer marketplace where music catalogs can be traded onchain. Catalog owners and investors receive royalty payouts based on the catalog’s performance, which are shared with the artists.
Verified Artist Catalogs Available on Algorand’s ANote Music
The platform hosts a range of verified catalogs, including the catalog of the Destiny’s Child manager and guitarist Brian Tarquin. Through ANote, users can invest in these catalogs and earn royalties.
For example, Destiny’s Child's manager’s catalog offers investors a share of commissions from digital performance royalties generated by hits like “Say My Name” and “Survivor” on non-interactive platforms.
Hedera Hashgraph’s Tune.FM as a Competitor to Spotify and Apple Music
Similar to ANote Music, Hedera’s Tune.FM is a web3 music platform that rewards artists with higher royalties for streaming.
Tune.FM aims to challenge mainstream services such as Spotify and Apple Music by incentivizing artists and listeners with its native JAM token.
Most recently, Snoop Dogg announced plans to release his entire catalog on Tune.FM, encouraging other artists to join the platform and explore opportunities in the web3 space.
Snoop Dogg partnered with the platform back in February 2025, vowing to ditch Spotify due to the latter's low royalty payouts.
As traditional music platforms continue to reduce payouts, both ANote Music and Tune.FM may gain traction as an alternative solution for artists and fans seeking fairer compensation models and ways of supporting artists.
As a streaming platform, Tune.FM may have a chance of gaining more market share from competitors Spotify and Apple Music if they’re able to play their cards right, utilizing the Hedera network.
