Nas, Pusha T, and other musical artists are taking a deep dive into the cryptocurrency industry.
Nas and Pusha T joined the most recent collective of investors responsible for $5 million worth of new funding being funneled into the new platform Audius.
Audius is said to be a new way to consume music. Imagine if the streaming platform Spotify and the music-sharing site Soundcloud had a child, this new entity Audius would be the outcome.
What makes this new being more interesting is that, according to Decrypt.co , it integrates that video-based social media site TikTok into the play and also offers NFT opportunities.
Audius already has six million active users. Via a press statement, Nas shared his excitement for the project.
“I’ve known that blockchain will change the world since I invested in Coinbase five years ago and I believe it might be the most important technology to ever hit the music industry,” Nas explained.
Nas added, “Everyone who uploads to Audius can be an owner, you can’t say that about any other platform.”
According to CoinGecko, since the announcement a day ago, Audius’ AUDIO token is up 23% and is currently valued at $2.69. The platform is continuing to make noise.
In August, the company’s token almost doubled in value in one day — after they announced they were bringing TikTok into the fold. Be on the lookout for even more high-functioning features soon. There is a sneaky suspicion that Audius is just getting started.