You can now mentor your favorite musician via blockchain streaming service 'Audious'
Categories: US BLOCKCHAIN
You can now mentor your favorite musician via blockchain streaming service 'Audious'
Blockchain-based music streaming service Audacious is enabling fans to tip artists using the $AUDIO token, the platform's native cryptocurrency. “We are creating new ways for our seven million active monthly users to show their favorite artists how much they appreciate their work,” Ronell Rumberg, co-founder and CEO of Audius, said in a statement.
“But this is only the first part of monetization – in the coming weeks and months we look forward to expanding monetization with more options for fans and artists alike.” The company also plans to introduce a "way to tip that doesn't require tokens." The platform already provides fans with the opportunity to bankroll their favorite artists using the power of DeFi. Thanks to NFTs, they can also profit from the sale of music as partial copyright owners.
Launched in 2018, Audacious hosts over 250,000 artists who have released a combined one million tracks on the platform. "A lot of experiments have been run over the years to develop the business model of the music industry," Rumberg said.
“But we have yet to see a platform that strikes the right balance, improving the musical experience for parties that matter most – artists and their fans. Katy Perry, NAS, Jason Derulo, Pusha T, Artists including The Chainsmokers and Steve Aoki have invested in Audacious. "Everyone who uploads to Audacious can be the owner; you can't say the same about any other music streaming platform," says rapper/entrepreneur Nas.