Highlights
- Connect the music industry and blockchain using #Audius
- Expand the @Audius ecosystem in the form of collaboration of this platform with other blockchains and dApps
Audius is one of the music streaming services based on a blockchain network that has contributed to the comprehensive development of the music industry. With its proprietary AUDIO token, Audius seeks to change the way artists interact with their fans. Audius does this by offering one of the most advanced platforms available. There are many similarities between the Audius music platform and popular audio file streaming services such as SoundCloud and Spotify. However, this platform gives artists complete control over their work and brings more freedom of action for musicians and art lovers to create unique experiences for fans.
Using a decentralized network and based on incentive alignment consisting of operator nodes, the platform enables artists to record their music quickly and unchangingly. In addition, Audius is an entirely community-based platform.
With the $AUDIO, an Audius-specific token, artists can be paid directly for each music stream, so they no longer have to wait for months or even years to receive a small share of their income. Instead, thanks to Audius’ efficiency, artists can receive their pay directly from their fans without any intermediaries.
The Future Of Audius
The use of blockchain in the music industry has grown at an unprecedented rate in recent months. We now know that selling music on the blockchain network and tuning in for audio and art pieces as #NFTs will be a viable solution to the survival of the music industry and independent artists.
In the future, as demand for decentralized storage increases, Audius may adopt other decentralized storage solutions such as Filecoin or Siacoin. As the Audius ecosystem expands, we should expect the platform to work with other blockchains and dApps. These facilities will be provided for artists and their fans in the form of a joint event between @metaplex and @AudiusProject at @NFT_NYC.
In appearance, Audius may look very similar to other music streaming platforms such as Spotify or SoundCloud. But in fact, Audius goes beyond that. The Audius platform enables artists to gain more control over their work and generate decentralized revenue from their art by allowing social interaction between artists and their fans, instant royalty payments, and in-chain analysis.
The Audius audio streaming platform has about half a million users and grows in popularity as more and more musicians join it. Its community manages all forum elements, and the AUDIO plays a crucial role in decentralizing the platform and motivating users. Audius helps empower artists and their fans by providing an innovative, non-discriminatory streaming service.
Decentralized music streaming and sharing platforms using NFTs seek to intervene in the traditional music industry, providing a less discriminatory system that brings significant benefits to musicians and their audiences.
