Blockchain music service Audius has announced $AUDIO Rewards, a new gamified rewards program for users that will allow them to earn the $AUDIO cryptocurrency by participating in certain in-app actions.
READ MORE: Audius CEO Roneil Rumburg: “Web3 is happening, with or without us. It’s the funnest place in the world to be building things”
Users will be given challenges such as inviting their friends to join the platform, downloading the mobile app, daily listening streaks, and uploading their songs to earn $AUDIO. Audius will periodically refresh the challenges to ensure $AUDIO is evenly distributed among users, who can use the token to unlock “elevated experiences” in Audius, though these experiences have yet to be detailed.
At the time of writing, one $AUDIO token is equivalent to $1.07.
In a press statement, Audius CPO Forrest Browning said “$AUDIO Rewards is not monetisation, but it is one of the first big steps towards progressive monetisation on Audius in 2022,” adding that the program was made feasible due to Audius’ move from the Ethereum blockchain to the more cost-friendly Solana.
“This migration to Solana is laying the groundwork to eventual micropayments and actual monetisation in the future,” he concluded.
In our February cover feature, Audius CEO Roneil Rumburg explained how users can earn by using the platform. He told us: “If you are running a playlist on Audius that garners a bunch of listens, then your act of curating that content is increasing the value of the Audius network. You should be rewarded proportionately by the network for that value you’ve created.”
Read more about Audius in our cover story.