Home
News
However, Payouts are still to come
- Blockchain-powered platform’s cryptocurrency token, $AUDIO, has hit a new all-time high
- Music streaming service Audius has surpassed 3 million active users
- Audius record $55 million trading volume
Audio $AUDIO Token Reaches All-Time High, and its value has surged 108% since the beginning of March. Music streaming service Audius has been riding high upon the popularity of its beta phase in October 2019 and its public launch a year later. Blockchain-powered platform’s cryptocurrency token, $AUDIO, has hit a new all-time high and surpassed 3 million active users.
The payout feature is still coming soon
The beginning of March 2021 saw the prices of $AUDIO go from a low of $0.38 to a new all-time high of $0.79 on March 4th and spike from $3 million to a record $55 million trading volume. It is good news for the Project and its decentralized approach to music streaming. However, Audius still hasn’t publicly shared information on how or when its users will obtain $AUDIO. In its blog post about $AUDIO, the feature is still “coming soon.”
Audius
The blog post was shared in October 2020, and there was no public information. In March 2020, Audius released a breakdown of its payout plan via Twitter. However, t5he conceived plan is still to be realized. More information about what users can do and how $AUDIO works can be found in the Audius white paper and the company’s Discord server, but a timeline for the plan remains unclear.
It is reported that some users have had success in converting $AUDIO through other cryptocurrency trading platforms, such as Uniswap, Coinbase, and Metamask. But as of this article’s publication, no amount of the cryptocurrency has been obtainable through monetization via the Audius platform.
Streaming app looking to take on Spotify and Apple Music
Based upon the Ethereum platform Audius is a streaming app looking to take on Spotify and Apple Music by offering artists a better deal. Much like any other blockchain project Audius is both a company and a network controlled by token holders. Audius has thousands of users as listeners with a strong base in the EDM and a growing number of underground hip-hop acts. Streaming music is open and accessible, and artists are mainly using it to widen their fan base.
Tokenized monetization options will come later, but when they do, artists will have incredible flexibility.
Audius seeks to address the problems affecting the music industry of finding the proper blockchain application and help open the door for mainstream crypto adoption – at least, that’s the dream.
The Ethereum based music distribution service aims to rub shoulders with recognized startups such as SoundCloud and Spotify. The creators of Audius hope to create a platform that will offer a more attractive deal for musicians. It will also help Audius build a stable of musicians so strong that users will come in large numbers.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
