The price of AUDIO, the proprietary token of the decentralized music streaming platform Audius, has risen by over 90% right after the platform's integration with social media giant TikTok.
At the time of writing, AUDIO is trading at around $ 3.32, according to the Nomics crypto metering platform and crypto signals. The current token price is about 30% below the all-time high of $ 4.95 on March 27.
The increase comes after Audius announced a partnership with TikTok yesterday. The integration makes Audius one of the first partners of the media giant Sound Kit SDK, which allows creators to "seamlessly bring original sounds and music from third-party apps to the TikTok ecosystem."
With the new feature, Audius artists will be able to add their tracks to TikTok so that users can easily add them to their videos. Among the artists who have joined Audius are such popular musicians as:
The Stafford Brothers;
Alina Baraz and others.
The development in question is not the first for many who have entered the world of cryptocurrency.
For example, Deadmau5 has been active in the immutable token (NFT) space in recent months. Last December, he launched his $ 100,000 NFT Collections in partnership with Worldwide Asset eXchange. In another example, the artist collaborated with Mythical Games and the NFT-based game Blankos Block Party.