What is AUDIUS?
Streaming platforms like Spotify and Soundcloud may have a new platform to worry about. This platform is called Audius.
Audius is a decentralized Ethereum-based platform that is looking to provide music artists with better monetary payouts as well as other advantages. Their goal is to revolutionize the way artists in the music industry, and their fans interact by creating one of the most unique and innovative music platform.
What is the $AUDIO Token?
Audius is powered by it’s native token AUDIO, which helps maintain the network security and provide users access to their features. Their ticker on TradingView is $AUDIO where you can find it’s current traded price.
The Audius Business model
In essence, Audius is looking to provide music artists with more return on their content as the music industry generates $43 billion in revenue but only a mere 12% goes to the artists. Artists on some of these more traditional platforms also have a hard time controlling how their content is distributed and how fans can pay them. Audius is looking to solve all these issues using public blockchain infrastructure and other decentralized technologies.
AUDIO comparison with other Altcoins
Ethereum, the second most popular cryptocurrency next to Bitcoin, has gained a sizable amount of support and trust in recent years. The practical implementation and public investing in cryptocurrencies, in general, is a growing space. Taking a step back, the music industry had a $24.4 billion market size valuation in 2020. The forecast for 2027 has this number sky-rocketing to $76.9 billion. Investors may find that Audius, is a unique platform in a niche sector can be something worth investing in. Similar platforms for other sources of media such as THETA for video-streaming and Decentraland for gaming can be viewed as great proof-of-concepts and are leading indicators to what Audius could achieve.
AUDIO features
The AUDIO token is the incentive that this platform will provide for its content creators. Audius advertises a 90% payout for its content creators — meaning 90% of the revenue will go straight from the listener to the uploader. The remainder of the 10% covers operational nodes on the Audius network. In the end, Audius takes 0% of the money. In comparison, Spotify would have taken approximately 40% after deductions to the artist. Another incentive for Audius is that the platform is completely free at the current time, allowing for over 3,000,000 unique users each month. This allows artists ample time to build up a following which they can later monetize.
Among these few things, Audius has unique features such as Audius Passport which allows crypto and NFT enthusiasts to purchase NFTs from their favorite artists. NFT functionality has gained a lot of traction this year in Crypto and is only expected to grow in the coming years. All these unique characteristics and functionalities of Audius points to a new innovative way of music-sharing that could compete with the platforms of the like of Spotify and SoundCloud.
What Audius means for music artists, investors, NFT lovers?
For music artists looking to create a audience on a new and better platform, Audius may be something to look into. For cryptocurrency investors, Audius solves a problem in the music industry-backed on the secure network of Ethereum. With an Audio token priced currently under $2 at the time of writing, this could be a project worth adding to your portfolio. We shared a trade idea to our community when it was at $1.75 and our community was able to pick up on this project early on. Be sure to join our community to get early access to these ideas. This is not investment advice and should only be used for educational and entertainment purposes.
The Audius Team of Advisors and Investors
The Audius team is among one of the best we’ve seen in a long time, with a huge team of senior engineers and business development specialists, and the likes of popular EDM artists like as deadmau5, 3LAU, and RAC as Advisors, as well as the late Avicii’s former manager, Ash Pournouri, Co-Founder of EA Games, Bing Gordon, Co-Founder and Managing Director of Standard Crypto, Adam Goldberg, and many more.
Audius also has the backing of prominent investing firms like Coinbase Ventures, Binance, Blockchange, General Catalyst, Kleiner Perkins, Lightspeed, Standard Crypto, Patera Capital, and Multicoin Capital. You can see the the full Audius team, advisors and investors by clicking here.