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What is Audius (AUDIO)
Audius is a blockchain-based music streaming platform that gives anyone the ability to distribute, monetize, and stream audio content in a fully decentralized manner, according to the project’s white paper.
AUDIO is the native token for the platform, CoinGecko said. The token is the industry’s 114th-largest digital asset. as ranked by market capitalization ($950 million). AUDIO has both governance and rewards uses.
AUDIO, explains its whitepaper, is “staked as collateral for value-added services.”
Users who stake it can earn more tokens as they are issued as well as bring more governance weight to bear; and there’s also access to “exclusive features.” Moreover, the protocol seeks to build an “incentive-aligned coalition,” Messari said. Constituents would include artists, node operators and fans/listeners. Together this cohort works collectively toward one singular objective, that is, “to provide high-quality audio streaming services,” Messari said.
Notably, the protocol allows artists to directly monetize and engage with their audiences. This is done through paid content and the distribution of bespoke “artist tokens.” A decentralized network of computer operators (collectively referred to as “Content Nodes”) are responsible for relaying audio streams to the broader Audius network; the content nodes can be operated by artists themselves for a greater degree of control, the platform’s creators said.
AUDIO was launch via airdrop in October of 2020. As of March of 2022, the protocol boasted content from several notable artists, including electronic-staple deadmau5.
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