Audius, a “new kid on the blockchain”, is wanting to form a totally brand-new method of music circulation in between artist and fans. AudioCoin breaks down the barriers of traditional music financing, directly connecting artists and fans through a transparent, distributed ledger.
Let’s dive in to Audius’ function in music and more on the platform’s native token.
The Get Down: What This Platform & Token Is All About
For those who are familiar with audio platform Soundcloud, you will understand Audius has gained similar comparisons because of its ‘artist-first’ mentality. This technique permitted Soundcloud to birth lots of effective artists, such as Chance The Rapper, since of the platform’s capability to drive music to fans with very little label disturbance. 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.
Audius likewise utilizes the exact same artist-friendly technique, by permitting them complimentary uploads, a significant artist portion payment, and positioning chances. All of these transactions will be reported on the blockchain. The platform seems to have a firm understanding that artist buy-in is critical.
The crypto music platform likewise has a token readily available with restricted gain access to points; nevertheless, this token has actually risen into the leading 150 tokens and will be trying to find continued exchanges to host on.
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 jobs stand to benefit considerably as Audius reveals us a brand-new prospective plan around crypto and the music company.
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 quick growing list of artist financiers consist of Katy Perry, Nas, The Chainsmokers (by means of their Mantis VC), Jason Derulo, Pusha T, Steve Aoki, Linkin Park’s Mike Shinoda, and more. Audius is a example of how music circulation and the blockchain interact and successfully, supplying an ingenious method of getting music to fans and getting artist’s paid.
Many interested investors around crypto and music are starting to look at Audius (AUDIO) as something to keep an eye on. The crypto’s cost leapt substantially this year and is still on the climb as they liquidate more offers. 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.
