Audius – AUDIO
We all stream music nowadays, but it comes with a recurring cost.
Why not use A FREE music streaming platform built on the blockchain…
This is a Project Review on AUDIO.
AltCryptoGems
🧵👇
Audius was founded by Forrest Browning & Roneil Rumburg in 2018. They strive to provide users with a free music streaming platform that they can also earn on.
It is designed for users and enables music creators to own the rights to all of their work and remove centralised powers like record labels, streaming platforms, etc.
Audius is a decentralised layer 2 blockchain first built on the POA network, an Ethereum side-chain.
The network attracted too many users to the POA network, which couldn’t handle the congestion.
In 2020, they migrated its ‘content management system’ to the Solana mainnet, a more scalable network.
Audius’ native token $AUDIO is still on the Ethereum network.
Comparing Audius & Spotify
Spotify generally takes 30% of all revenue made by each artist on the platform, whilst the artist takes 70%. Audius on the other hand provides music creators/artists 90% of all revenue and the remaining 10% goes to Audius node operators.
Audius offers the same audio quality as #Spotify (320kbps), but the main difference is that Audius is free and Spotify charges $9.99 per month…
Audius offers both users and creators incentives to use and earn on the platform!
The Native token of the platform is the $AUDIO token, which can be used for the following:
Governance – $AUDIO stakers can vote on any future proposals of the project. Just like most decentralised protocols offer.
Exclusive Features- Audius offer four $AUDIO VIP tiers. Each tier unlocks different exclusive features that the platform offers. To unlock new tiers, simply hold more $AUDIO.
Earning- Creators, Developers and Users earn from content, building or other features.
Securing the Network- Anyone can hold & stake $AUDIO tokens to become one of many existing Node operators.
The network has over 250K artists on the platform and the most recent statistics reveal Audius has an average of 7 million monthly listeners!
Artists such as dead bmau5, Katy Perry, Nas, Skrillex and many more can be found on the Audius platform! There are music genres for everyone to enjoy!
Audius is also compatible with mobile and is available to download on the Apple App Store & Google Play Store. This will attract newcomers to the world of Web3, as the power is literally in their hands…
At the time of writing, the $AUDIO token is sitting a price of $0.1935 with a market cap of $160.48M. $AUDIO is down 96.13% from its all-time high of $4.99 and a market cap of $1.4B!
You can purchase $AUDIO on the Ethereum & Solana networks or on the Binance CEX!
You might ask, are Spotify going to be entering the blockchain space?
Well, there are reports online that Spotify have job openings focusing on the Web3 sector.
The future holds all the answers…
Links
Twitter – @AudiusProject
Website – https://audius.co/feed
That’s it! Thanks for reading! Have a look at our Guides section for more!
If you’re interested in learning more about Web3 and getting free crypto alpha, be sure to follow me on Twitter – @AltCryptoGems.