Audius is a decentralized music streaming protocol initially built on POA network, but now living on Solana. Audius was launched to remedy the inefficiencies of the music industry, which is plagued by intransparent music rights ownership and intermediaries standing between artists and their audience.
Audius aims to align the interests of artists, fans, and node operators through its platform powered by its native AUDIO token. Artists can upload music, stored and distributed by content and discovery nodes, that fans can listen to for free. Currently, Audius rewards content creators through rewards like featuring in the weekly trending lists. In the future, it plans to integrate stablecoins for artists to offer paid content, as well as artist tokens that give fans the ability to access exclusive content, potentially cooperating with platforms like Rally.
The Audius blockchain platform has received funding from some of the most popular artists like Katy Perry, Nas, The Chainsmokers, Pusha T, Jason Derulo, Mark Gillespie.
On Monday, the TikTok sharing feature went live for all Audius users. The deal with TikTok is a huge step towards an influx of new music artists and their popularity growth.
Streaming tokens are performing exceptionally, meanwhile, Bitcoin is stuck under $60K. To exacerbate Bitcoin’s situation, whale transfers to retailers suggest the onset of a short-term bear trend.
It was reported that the algorithm used to distribute the AUDIO governance token favored the artists over the listeners with about 75% of the tokens allocated to creators.
