Audius is an Ethereum-based music streaming application with social media features powered by the blockchain.
What is Audius, How Does It Work?
Having a decentralized structure, Audius is described as a music streaming service. It is based on Ethereum and works as a blockchain protocol. The Audius platform was founded by computer programmers Roneil Rumburg and Forrest Browning. Aiming to revolutionize the music industry, Audius targets apps like Spotify and SoundCloud. Audius allows musicians to publish their works in the app and interact directly with the audience.
The artist-controlled and community-owned platform aims to allow users to share freely and earn money. Thanks to Audius, users can share audio content and earn money from these content. It can also distribute audio content with various file types created. Audius allows artists to receive donations directly from the audience. Audius, one of the non-financial crypto project applications; It is owned and organized by the community of artists, fans and developers.
Audius partnered with popular social media platform TikTok in August 2021. With the use of the application by some famous musicians such as DJ Skrillex, the Audius platform has attracted attention and attention. Audius has NFT integration. In addition, at Audius, listeners can listen to music for free and showcase verified NFTs. Audius argues that content producers should have more control in the industry and get a larger share of revenue, and sets its targets in this direction.
In Audius’ work, there are three separate groups: node operators, artists and listeners. Artists operating content nodes can keep their own music on their interfaces. They also have the content encryption key. In this way, they gain control over their music. Artists who want to store their content are paired with a content node if they want to upload. If a node becomes obsolete, the blockchain does not involve the artist and replaces it with a new node. Audius guarantees that the content is secure and decentralized.
What is AUDIO Coin?
Audius’ native cryptocurrency is AUDIO Coin. AUDIO Coin, created in the ERC-20 standard, has many use cases. Users with AUDIO Coin can earn passive income by staking. In addition, users can benefit from different features when they stake tokens. For example, displaying NFT collections is one of the features that can be exploited.
AUDIO Coin is also used to secure the network. The Audius project is a democratic and decentralized music streaming platform. For this reason, AUDIO is also used as a governance token. In this way, users with AUDIO can have a say in voting on the network. Listeners can donate to their favorite musicians with AUDIO Coin. The platform automatically distributes token rewards for certain achievements. These achievements include rankings such as 5 trending tracks and 5 most popular playlists. Owners of the 10 most preferred API applications can earn AUDIO tokens if their Twitter or Instagram accounts are approved.
Where and How to Buy AUDIO Coin?
AUDIO Coin is listed on many cryptocurrency exchanges. Examples of these exchanges; Binance, FTX, Gate.io, Bybit and Uniswap can be given. People who want to evaluate their investments with AUDIO Coin should first choose a platform. Users must be a member of their preferred platform and create an account. After account creation, authentication should be performed. Then the trader should open the trading page. With the preferred order, the desired amount of AUDIO Coins can be purchased. Purchased AUDIO Coins can be used in transactions or stored in secure wallets for later use.
