Snoop Dogg dropped a bombshell on the music streaming world this week, declaring “I don’t f* with Spotify anymore. I’m only on Tune.FM.” The rap legend has become the new face of this decentralized music platform, releasing his exclusive track** “Spaceship Party” there. Not just talk, either. Snoop’s aiming to move his entire catalog over. Serious business.
The D-O-Double-G just fired a warning shot at Spotify while boarding the blockchain music revolution train.
The partnership wasn’t random. Snoop met Tune.FM founder Andrew Antar at Crypto Ball, and apparently, they hit it off. Snoop’s appearance at the event raised significant controversy due to its connection with Trump’s inauguration. Makes sense. The platform claims artists earn 100 times more than on traditional streaming services. Who wouldn’t want that math?
Markets reacted instantly. The platform’s JAM token skyrocketed 222% after the announcement. Talk about making a splash. But that’s not the only crypto benefiting from Snoop’s move.
HBAR, the native token of the Hedera network that powers Tune.FM, surged 10.9% in just 24 hours. It peaked at $0.262 before settling at $0.2477. Trading volume jumped 55%, with a net positive flow of $7.68 million. Weekly gains exceeded 15%. Not too shabby for an announcement about streaming music.
Currently, HBAR sits at the 11th spot by market cap, valued at $10.3 billion. The token is testing resistance at $0.2629, which aligns with a descending trendline and Fibonacci retracement level. Technical analysts are eyeing potential targets of $0.3161 and $0.3542 if it breaks through. Of course, rejection could send it back to $0.2211 or lower.
The ripple effects go beyond just numbers. Snoop’s move spotlights blockchain-based music streaming, potentially disrupting the entire industry. The advanced encryption methods used in cryptocurrency platforms like Tune.FM offer artists unprecedented security for their digital assets. Other artists might follow his lead. Why wouldn’t they?
With Bitcoin hovering near $86K and increased institutional interest in blockchain tech, the timing couldn’t be better. Crypto and entertainment continue their inevitable merger. And Snoop, as usual, is ahead of the game.
