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A-List Artists Invest $5 Million In Blockchain Music Platform Audius

AUDIUS, the blockchain-enabled music platform with more than six million monthly users, has announced a new $5 million round of strategic funding from several of the biggest names in the music industry: KATY PERRY, THE CHAINSMOKERS, NAS, JASON DERULO, PUSHA T, GUY OSEARY’S SOUND VENTURES, ELECTRIC FEEL VENTURES, MARTIN BANDIER and more.

AUDIUS is a digital streaming service that connects fans directly with artists and exclusive new music. It does this by being fully decentralized. AUDIUS is owned and run by an open-source community of artists, fans and developers all around the world. It was founded in 2018 and its six million users make it the largest crypto application ever built.

A company statement noted, “We got our start sharing music directly with fans and so we are really aligned with the way AUDIUS uses the blockchain to enhance the artist-fan relationship. We plan to upload the stuff we play live, which we wouldn’t typically share on traditional music platforms. It’s a purer alternative to the more polished album rollouts that we will continue to deliver. As an artist, it’s empowering to share different creative choices and to test stuff out in a lower-stakes environment. Additionally, for us, the role of developing a community around our music has always allowed us to grow and motivated us to take risks. AUDIUS continues to empower the artists and their community to seek freedom in all aspects of their art as the music business hopefully shifts more in favor of the artists fueling the economy.”