Audius is a decentralised music streaming platform that allows anyone to publish their music for free. Artists can upload their music to the network, streamed by nodes to listeners through the Audius app. Artists will have full ownership of their music and can decide how to monetize their music on the platform. Audius is also in a partnership with TikTok, allowing artists to use their TikTok profile to sign up and get verified on Audius. With the integration, artists that upload their music on Audius can also share it on TikTok more easily.
Audius (AUDIO) is the network’s native utility token. It is used as a reward for staking and to compensate artists streamed on the platform. AUDIO token holders can participate in the network’s operations as content nodes or discovery nodes. Content nodes host and manage content on behalf of the artists. Discovery nodes index the metadata and music to the content ledger. Users wanting to vote on proposals for network updates can earn governance power by frequently contributing to the network.
The market cap of AUDIO now stands at about $251 million, with over 1 billion AUDIO tokens in circulation (as of early June 2023). AUDIO’s all-time high (ATH) price peaked at $4.95 in March 2021 and is now trading at about $0.24. (as of early June 2023).
Audius (AUDIO) is available on the Matrixport app; alongside other blue-chip cryptocurrencies like Bitcoin (BTC), Ether (ETH), stablecoins (USDT, USDC and BUSD), and many more. Users can deposit, withdraw and transfer AUDIO on the app.
About Matrixport
Matrixport is one of the world’s largest and most trusted digital assets ecosystems providing one-stop crypto financial services to meet the emerging needs of generating long-term wealth in digital assets. It forges strategic collaborations with early-stage Web3 innovators, helping them build, grow and scale and the company’s services include Cactus Custody™, spot OTC, fixed income, investment products (including Dual Currency), lending as well as asset management.
With USD4B in actively managed digital assets, Matrixport achieved a pre-money unicorn valuation in 2021 and was named by CB Insights as the 50 most promising blockchain companies in the world in 2022. Its digital prime brokerage business, Matrixport Institutional, serves 500+ institutions across the US, Europe and Asia, offering best-in-class access, leverage, capital Introduction and custody services. Headquartered in Singapore, the company holds a Hong Kong Trust Company License and a Swiss FINMA SRO-VQF Membership.
About Audius (AUDIO)
Co-founded in 2018 by Forrest Browning and Roneil Rumburg, Audius aims to give everyone the autonomy to upload, monetise and stream audio content. The project received over $15 million in funding from renowned artists including Katy Perry, Steve Aoki and more. Audius is a layer 2 blockchain protocol initially built on the POA network, an Ethereum sidechain. To further scale the project, the protocol migrated its content management system to Solana in 2020. The native token AUDIO remains on the Ethereum blockchain.