Audius, “new kid on the blockchain”,, is hoping to shape an altogether better approach for music distribution among artist and fans. AudioCoin separates the barriers of traditional music financing, straightforwardly interfacing artists and fans through a transparent, distributed ledger. Let’s jump into Audius’ part in music and more on the platform’s native token. For the people who know about audio platform Soundcloud, you will comprehend Audius has gained similar comparisons because of its ‘artist-first’ mentality. This approach permitted Soundcloud to birth many successful artists, such as Chance The Rapper, because of the platform’s ability to drive music to fans with minimal label interference.
Audius also uses the same artist-friendly approach, by allowing them free uploads, a substantial artist percentage payout, and placement opportunities. All of these transactions will be reported on the blockchain. The platform seems to have a firm understanding that artist buy-in is critical.
How does this tie into Audius, as well as cryptocurrency more broadly? The platform is using the blockchain to connect sellers and consumers within music in a similar vein as Soundcloud.
The crypto music platform also has a token available with limited access points; however, this token has surged into the top 150 tokens and will be looking for continued exchanges to host on.
The San Francisco-based coin has gained some national attention in recent headlines on Rolling Stones with some heavy hitters getting behind the project. Some of the fast growing list of artist investors include Katy Perry, Nas, The Chainsmokers (via their Mantis VC), Jason Derulo, Pusha T, Steve Aoki, Linkin Park’s Mike Shinoda, and more. Audius is a example of how music distribution and the blockchain work together and effectively, providing an innovative way of getting music to fans and getting artist’s paid.
Audius & The Music Industry
The way music is bought and sold today has evolved drastically over the past decade. With the rise of digital streaming, Audius now provides a new way that might change how we get our favorite songs. Other projects stand to benefit greatly as Audius shows us a new potential blueprint around crypto and the music business.
Many interested investors around crypto and music are starting to look at Audius (AUDIO) as something to keep an eye on. The crypto’s price jumped significantly this year and is still on the climb as they close out more deals. With powerhouse backings from artists, executives, and platforms like TikTok, it will be interesting to see how things go in 2022 and in years to come.