Audius is a music streaming service built on a blockchain with full control for artists and decentralization in mind. This blockchain-based project makes it possible for any artist to sign-up and stream their music without the common limitations we see in the current networks.
The blockchain mechanism helps Audius to provide a decentralized interface with enough incentives for everyone, from artists to distributors and listeners.
There are many streaming services available for artists these days. But they have shortcomings in multiple sections. Earning money, finding subscribers, and paying fees are some of the biggest problems artists face these days in streaming services.
Audius tries to solve many of these challenges by providing the needed interface on the blockchain. The platform claims to let artists publish their music for a broader audience without the need to sign deals with record companies.
What is Audius?
Audius is a blockchain-based streaming service that connects artists directly to users and fans. They can easily sign-up on the platform and publish their music without the least limitations.
The decentralized infrastructure makes it possible for artists and listeners to connect directly. It has a music player interface with familiar features for music lovers.
The fundamental blockchain layer in Audius provides the necessary security and privacy for both users and artists. Artists make sure their music is protected by the decentralized governance system run by node operators. Users are sure that their data can’t be used for advertising goals without their consent.
Audius has an incentive system based on $AUDIO tokens. The token can be used for many operations on the platform. Numerous use-cases for the $AUDIO token make it a valuable music-focused token in the crypto industry.
How Does Audius Work?
Audius offers a platform for both music artists and lovers. Artists can publish their music on the platform without the least limitations.
Listeners have access to a big database of music from famous artists like daedmau5, Rezz, 3LAU, and many others. The base of the system is on a blockchain with tools and features for providing better security and complete data ownership.
As mentioned above, using blockchain as the fundamental infrastructure in Audius has resulted in considerable features for this platform.
It can become the first in the newest generation of music streaming services that give more freedom to artists and listeners. Some of the features are:
Ownership over the IP of music tracks is very important for artists in the digital age. They’re always worried about pirates or misuse of their tracks. The technology behind Audius makes it possible for artists to generate immutable and timestamped records for their music.
It means every music track in the platform has a record that confirms the artist, the time of publication, and the IP ownership on a distributed ledger. In this way, no one other than the original artist can claim ownership of the tracks or albums.
The Audius platform uses a decentralized governance system for governing and improving the network. It uses the $AUDIO token as the native cryptocurrency in the platform. One of the many use-cases of this token is governance authority. Users can participate in votings about the changes and improvements in the platform by staking $AUDIO tokens.
The team and community behind Audius have the artists at the top of their minds in developing or improving features in the platform. They believe a streaming service can be successful when listening to artists and fans, not the corporations of record companies.
Because of this mindset, every feature is developed with artists in mind. For example, Audius lets artists stream their music at 320kps quality. It means Audius offers the best streaming quality among all free music platforms.
Besides, all of the uploads, metrics, dashboards and many other features for artists are free in Audius forever. They can also offer exclusive content and make more money from their most loyal fans.
Audius offers its fundamental blockchain network as a protocol. It means other developers can build dApps and decentralized services on the Audius network. It offers the Hedgehog wallet to developers to integrate it with their dApps and offer transaction options to their users.
The Audius API offers automatic connection to more than 450K tracks on this platform. It means dApps can use these tracks in their various sections without the need to pay for them.
The API makes it possible for games to receive and play tracks, for example. Besides, developers can build music players and connect their users to the big database of Audius using this API.
There are currently many apps using Audius API, that most of them are focused on music and related services. Some of them are Music Racer, Stereoload, Audis, Songwhip, and Music Killer.
What Benefits Does Audius Bring to the Music Industry?
Audius combines blockchain technology with the music world. The design and structure are managed with artists in mind, mostly independent ones. It can become the first service to exclusively help independent users find fans and stream their music.
Besides, famous artists now have an option that lets them connect directly to listeners without the need to work with label companies. It can bring freedom of the music industry to the next level. The token-based governance and user experience are also useful in this way.
The native token of the Audius platform has many use-cases that make it one of the most valuable music-centered cryptocurrencies. Providing security and governance mechanisms are two of the most important use-cases for this token. Besides, users can pay with AUDIO tokens to access exclusive features on the platform.
For artists in the Audius platform, monetizing is very easier and more creative using the AUDIO token. They can engage more with their fans and have more opportunities to receive payments for their music tracks.
Users are not limited to pay with AUDIO tokens in the streaming service. They can stake their tokens and have run discovery or content nodes. Exclusive features and services are also available for AUDIO stakers.
Music streaming isn’t a young industry anymore. But it’s still far from being mature yet. There are still problems for artists and listeners in terms of using the content, monetizing, security, and many other elements. Decentralization that comes with blockchain technology can help the industry overcome these issues.
Audius is a blockchain-based music streaming service that provides security, data ownership, and creative ways to monetize the music tracks to artists. It can become the next Spotify or SoundCloud in the music industry.