What Is Audius? All You Need to Know About AUDIO

What Is Audius (AUDIO)?

Audius is a blockchain-based music streaming and sharing platform with no central authority. The decentralized music platform was launched in 2018, co-founded by Roneil Rumburg and Forrest Browning. Audius became fully functional in September 2019 with its “AUDIO” token sale.

Audius provides a comprehensive and decentralized platform for music creators to get paid instantly for their creative works. The music and sharing platform has an integrated reward system for participants such as listeners and node operators who participate in staking, sharing music, and running the network. Audius is a decentralized replica of Spotify.

Audius is a music sharing and streaming platform deployed on the blockchain network with decentralized features. Audius is a robust platform that combines the features of a traditional music streaming, sharing, and listening platform with decentralized app features. In Audius, artists get paid directly and instantly for their uploaded music, with listeners fully controlling the music they are streaming and sharing.

For a blockchain-enabled platform, the native token that also powers the Audius ecosystem is AUDIO. As a music creator, you get paid in the AUDIO token every time a listener or user streams your music. Audius is fully decentralized and has successfully eliminated the middlemen, record labels, and payment barriers that characterized the traditional music streaming and sharing platforms.

In Audius, the music creators or artists have exclusive ownership of their music and the privilege to decide how they want to monetize their work. According to this blockchain platform, 90% of the revenue generated from the music belongs to the music curator, while 10% goes to the node operators, the stakers supporting the Audius network. All payments are made using the AUDIO token.

How Does Audius Work? PoA Network and Governance System

Audius is a layer-2 blockchain protocol formally built on the POA network, an Ethereum sidechain. Due to the growing demand to stream content and the need to expand, Audius migrated its content management system to the Solana blockchain in 2020.

Audius is a robust, smart, decentralized music streaming platform that allows users to use the filters tool to find their favorite artists and music. Users can save tracks and create and share playlists. When you share playlists on Audius, you can get AUDIO tokens as rewards.

Audius is a decentralized public ledger with an open governance system. The open governance allows node operators, music creators, and users to propose and vote on changes to the Audius protocol. As a creator of Audius, you can distribute audio files via the AudSP protocol. The content Nodes ensure that all uploaded music contents are available on demand.

Audius is a decentralized ecosystem that has three key players. They are the artists, fans, and service providers. The function of the artists is to upload tracks, create albums and share content with Audius users. The fans are the users who stream tracks, create playlists, follow artists and share their favorite content with other users. The service providers have to manage app traffic, stream songs, and help secure the entire blockchain network.

What Is the AUDIO Token?

The native currency of Audius, the AUDIO token, is an ERC-20 governance token. The native token remains on the Ethereum blockchain even after the Audius content management system migrated to the Solana network. The AUDIO token allows stakers or node operators to vote and decide on important issues such as upgrades, network changes, etc. AUDIO has a limited supply of 1 billion of the AUDIO token. 41% of the initial supply is allocated to the founders of Audius, 36% to the investors, and 18% to the network growth. As of June 2022, there are about 719,623,350 AUDIO tokens in circulation.

The token also allows the stakers to unlock exclusive features by staking their AUDIO coin. Audius deploys on-chain metrics and an ongoing token issuance to better route audio distribution to the most active participants. That is the reward system of issuing AUDIO to the most active participants by driving users and value to the platform.

In Audius, users’ rewards and compensation are proportional to the amount of content they create on the network. Finally, you can earn the governance power by creating value in the Audius ecosystem and sharing between the groups contributing to the protocol.

Audius Use-Cases

There are a few key use cases for the AUDIO token within the Audius ecosystem:

• Reward And Compensation: in Audius, it is not only the music curator or artist that gets paid by the platform. Users who are active by creating a playlist and sharing it with other music enthusiasts also get rewarded with the AUDIO token. The amount of content an artist creates and how active a user is will determine their reward and compensation.

• Instant Payment: artists that provide their music on Audius are paid instantly for their works. In the traditional music sharing and streaming platforms, artists have to wait for weeks and months before being paid, and in the end, they get paid a lean cut of the total earnings.

• Interaction: Audius is decentralized and open-sourced. There is an avenue for users, listeners, and fans to interact with the content creators, and Audius bridges the gap between the creators and end-users.

• Staking: Users can also use AUDIO to stake tokens to validate nodes and participate in the governance of the Audius network.

• Exclusive Contens: AUDIO tokens can be used to access exclusive content, merchandise, and limited-edition items.

The idea behind Audius is to create a decentralized and more equitable ecosystem for music and content creation, where artists and creators can have more control over their content, fans can access a wider variety of music and other media, and everyone can participate in a community-driven and transparent platform.

Is AUDIO a Good Investment?

The Audius music streaming and sharing platform brings a new era for music artists and fans. It presents new possibilities and shows how blockchain can be fused into music.
Alongside being a reward and compensation token, AUDIO can also be traded on the crypto market. To create customer satisfaction and spread its tentacles across popular platforms, Tiktok users can now add music from their Audius app directly. Since its launch in 2018, Audius has continued to expand and draw the attention of millions of music enthusiasts.

How to Own AUDIO?

To own AUDIO, you can use the services of a crypto centralized exchange.
Start by creating a Gate.io account, get it verified and funded. Then you are
ready to go through the steps to buy AUDIO.

News on Audius

One of the hottest news in recent months has been the integration of the
Audius platform with Solana's NFTs. Over the past year, the market for
non-fungible tokens has increased dramatically. In addition to Ethereum,
Audius users will now be able to display NFTs from the Solana ecosystem.
This news followed another important one, which is Audius announcing a
new partnership with TikTok, a well-known social media site. Users of
Audius are now able to share tracks directly on TikTok for the purpose of
making short movies thanks to the agreement. TikTok has grown to be one
of the biggest social media networks in the world since its 2017
introduction, with about 1 billion active members each month.

Useful References

For the latest updates about Audius, you can visit:

● The official website
● Twitter
● Discord
● Telegram
● Reddit
● GitHub

Take Action on AUDIO

Check out AUDIO price today and start trading your favorite currency pairs.

● AUDIO/USDT
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