Try it for free.Welcome to the familly and – we are excited to define the future of music with you 🥳 — Audius 🎧 $AUDIO September 16, 2021While Bitcoin may be referred to as the digital answer to gold, Audius seeks to be the next Spotify or SoundCloud of the blockchain sort. Check the video tutorial to Looking for inspiration Arcade is the ultimate music playground with thousands of samples, new content every day, and one-of-a-kind features. Simply browse our large catalog of music visualizer templates and take your music to the next level. Renderforest audio visualizer creator - simplicity, efficiency, and high quality in one place.
24, 2019.Audius aims to shift money and power back to artists by connecting them directly to their listeners and cutting out record labels and middlemen.Artists get a 90% portion of sales revenue, with the other 10% going to node operators that support the network. The Audius mainnet launched on Sept. Binance Labs also led an extension round raising US$1.25 million for Audius.
The platform also rewards artists with Audio tokens for achievements such as top five weekly trending tracks and top five trending playlists. There’s no need to be signed to a label or have a massive following to start distributing your music on your own terms. Options include offering content and streams for free, having a one-time payment to unlock all content, or sell their songs as non-fungible tokens (NFTs).Audius enables musicians to maintain sole ownership of their music by generating immutable timestamps of their content, secured by a network of decentralized node operators.On Audius, any music creator can upload and monetize content. Audius remains sustainable through funding rounds and incentivizes employees and early investors with the AUDIO token.Artists on Audius choose how their content will be monetized.
The IPFS is where the artists store their music on the network. Audius says their content will be just as secure and decentralized.Audius nodes are continuously submitting snapshots of the protocol’s IPFS ( InterPlanetary File System) to the Ethereum network. If a particular content node goes offline, the blockchain automatically replaces it with a new node, without involving the artist. Artists who host their content also maintain control over their content-encryption keys, giving them additional control over their music.For artists who simply wish to upload, content nodes are randomly selected to host their tracks. Artists, fans, or any crypto enthusiast can become a node operator, by holding and staking AUDIO, Audius’ native cryptocurrency (more on that later).By becoming content nodes, artists can host their own music without having to rely on other nodes.
Blockchain layer: Audius is built on a layer-2, Ethereum-compatible, Proof of Authority (PoA) blockchain protocol (similar to Polygon’s POS chains).It’s worth noting the Audius Content Management System (CMS) is in the process of migrating from its PoA consensus algorithm to Solana’s proof of stake (PoS) blockchain optimized for speed, throughput, and cost-efficiency. Node layer: the total number of decentralized computers supporting the network. App layer: the protocol’s surface layer, which includes the website, desktop and mobile app. IPFS is built by Protocol Labs, the company behind Filecoin — and both protocols serve their mission of creating a decentralized internet.On an infrastructure level, Audius is built on three distinct layers: The platform’s custom extension to IPFS, AudSP, enables artists to store and retrieve their music almost instantly.
Exclusive rewards: By staking the AUDIO token, artists can be rewarded with exclusive features and collectibles, while holding the token will also unlock exclusive content.AUDIO tokens are airdropped by the network for artists with the highest number of listens and most social media engagement. Governance: Staked AUDIO tokens are used as governance tokens to request and vote on proposals for upcoming network updates. Security: To support the network by running a node, operators have to stake AUDIO tokens to become eligible and earn rewards in return. Investors speculate that AUDIO’s poor tokenomics and annual inflation rate of 7% are the reasons it didn’t climb higher among the top cryptocurrencies.AUDIO serves three fundamental roles in the network: AUDIO is currently the 99th largest cryptocurrency, trading at US$2.36, with a market capitalization of US$968 million, at publishing time.
Artists can sign up and upload for free without having to sign with the platform, while fans can also use the platform for free (for the content that artists choose to share freely).The platform has onboarded over 100,000 artists. What makes Audius stand out?Audius is pioneering what it sees as the future’s music distribution system, bringing human orientation into the music streaming industry. Developers can use Hedgehog to build and deploy dApps (decentralized applications) for free, using Audius’ open-source protocol.
To address this issue, Audius has announced on Twitter it is building a community arbitration system, based on a network of neutral, third-party arbitrators, that will be voting on moderation cases and copyright claims.The second challenge for Audius will likely be onboarding artists and listeners who are already on SoundCloud, Spotify, and other music streaming giants who have been leading the industry for the past decade. This raises concerns over pirated material being uploaded, to the extent that some claim the platform will be a copyright nightmare. What are the main criticisms of Audius?One of the biggest criticisms of Audius is the platform cannot police copyright violations due to the lack of a central operator. The fact that TikTok chose Audius over other mainstream competitors is a sign of confidence for AUDIO investors. This will enable TikTok creators to use songs from Audius directly in their videos.
What does the future hold for Audius?Blockchain is steadily finding its way into most industries, as its robust security, transparency, and cost-efficiency are becoming more understood.Though still in development, Audius is transforming music streaming with characteristics such as community governance and decentralization.As for network expansion, the recent Audius-TikTok integration is significant for the platform, and will likely attract more established artists looking to piggyback off TikTok’s global user base of 1 billion people.Aside from music celebrities, the platform is also signing on other prominent partners. But while these platforms have the artists and brand recognition, they lack the decentralized nature of Audius.As for players in the same blockchain-based league as Audius, the main competitors include: Song That Owns Itself (STOI), Songcamp, Catalog, and upcoming platform Royal.
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