Audius raised $5mn in a funding round led by music industry giants

Audius' recent funding round participants include artists like Katy Perry and Nas
  • Audius raised $5 million in a recent funding round led by music artists and industry giants
  • Coinbase Ventures, Pantera Capital, and Multicoin Capital have also participated with other investors
  • Blockchain world sees more participants from the world of art

Audius is a San Francisco-based firm founded in 2018. Recently, the firm has raised more than $5 million. It is revealed that the funding round was led by Coinbase Ventures, Pantera Capital, Multicoin Capital. Indeed, other investors have also participated in the capital raising round. Notably, the San Francisco-based firm has raised more than $8.5 million to date. Last month, the firm became the early streaming arena to merge with the video-sharing giant TikTok. In the current scenario, the firm has more than six million monthly users.

Audius acquired funds from artists and industry leaders

On Thursday, it was revealed that Audius, the blockchain-based music streaming platform, raised $5 million. Moreover, it is significant that the seeding round was led by artists like Katy Perry, The Chainsmokers, Nas, Jason Derulo, Pusha T, Mark Gillespie. Besides these artists, some of the music industry leaders like former Sony music CEO, Michael Kives, the CEO of K5 Global, and John Josephson, the CEO of SESAC, the performance rights organization had also contributed to the fundraising round.

Blockchain allows artists to be the owners

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Audius, the music streaming platform with more than 6 million monthly users has noted drastic growth. The music streaming firm noted that more artists are walking towards the blockchain world. Following the scenario, Nas, the popular rapper, cited that he believes that blockchain will change the world. He also revealed that he had invested in Coinbase five years ago. 

Moreover, Nas claimed that blockchain is one of the potential technologies that hit the music industry. Simultaneously, he noted that all artists uploading their contents on Audius become the owner of their pieces. Indeed, it is underscored that artists cannot say that for other platforms.

Blockchain industry sees more participants

Since the beginning of this year, the blockchain world has seen several artists arriving. Such artists include Katy Perry, rapper Nas, and ever bullish Jason Derulo. Perry will be releasing a Non-Fungible Token collection in December. Indeed, these NFTs are growing globally over the last few years. It is also noteworthy, since the beginning of this year we have seen several exchange platforms introducing their own NFTs marketplace.

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