Decentralized Music-Sharing service Audius is Growing Exponentially!

audius

Audius is a fully decentralized music-sharing and streaming protocol that facilitates direct transactions between listeners and creators. Audius is on the blockchain giving everyone the freedom to distribute, monetize, and stream any audio content.

Specifically, musicians can use Audius to distribute music and get paid directly from fans.

Besides the decentralized approach, the streaming service offers music quality at 320kbit/s (as a comparison, Spotify’s free version limited to 160kbit/s).

audius explodingtopics

Source: explodingtopics.com

The protocol consists of:

  • Discovery nodes that index the Audius content ledger and provide an easily query-able interface for retrieving metadata;
  • Content nodes to host content and permission access to content on behalf of artists;
  • Content ledger as a single source of truth for all data accessible within the Audius protocol, anchoring references to content hosted by content nodes;

AUDIO is the native utility token for:

  • Participating in protocol governance voting
  • Staking for running discovery or content nodes so users will get a share of network fees
  • Staking to unlock features like artist tokens and badges and receive voting power from fans
  • Audius is reported to have over 6M monthly active users in September, an increase from only 500K 12 months ago.

The market cap for Audius’s native token ($AUDIO) is currently around $821M.

According to Coinmarketcap the Current Audius Token Price is: $1.93

audius token price


Conclusion: The San Francisco-based startup has raised $13.6M in funding to date.

Audius is a part of the “content on the blockchain” meta trend. Only 10-15% of Spotify’s revenue goes to musicians. Fewer than 7% of Medium’s partner program authors earn more than $100 per month. And YouTube keeps almost half (45%) of content creator earnings.

That is why a growing number of creators are flocking to Web 3.0 content distribution platforms.

In fact, Messari currently tracks 46 crypto assets related to content creation and distribution. Those assets have a market cap of $38B.

Is Audius Token a good investment opportunity?

The question is: How high can Audius tokens go? According to crypto experts the Audius token price can go up from 1.974 USD to 4.068 USD in one year.

If you want to purchase $AUDIO go to Binance.


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