Audius is a decentralized music streaming platform and offers an ecosystem where musicians and listeners can interact directly. Unlike the high cost and intermediary structure of the traditional music industry, Audius allows artists to freely share and monetize their work. The AUDIO token, the cornerstone of this platform, performs various functions on the platform and is a medium of exchange between users. As Kriptokoin.com, in this article, we will examine what AUDIO Coin is, how it works and what makes it unique.
What is Audius?
Audius is a blockchain-based music platform that allows artists to share their music directly with their fans. Thanks to its decentralized structure, middlemen’s commissions are eliminated and artists can earn more revenue from their works. Audius distributes music files through a worldwide network of nodes, ensuring that content is stored securely and censorship-resistant.
The platform operates on different blockchain networks such as Ethereum and Solana and ensures that music files are stored on IPFS (InterPlanetary File System), a decentralized file system. Artists upload their content to the platform and make it available to listeners, who can discover and listen to it.
What is AUDIO Coin?
The AUDIO token is at the center of the Audius ecosystem and performs several functions. First of all, it is used to operate network components such as content nodes and discovery nodes. Node operators stake AUDIO tokens to secure the network and validate transactions. This staking allows node operators to earn protocol rewards and share in transactions on the network.
AUDIO tokens are also distributed as rewards to artists and curators on the platform. For example, artists featured in weekly trending lists can earn AUDIO tokens. In addition, artists can use these tokens to offer exclusive content or receive various privileges on the platform. AUDIO token holders can participate in the platform’s governance and vote on issues such as protocol changes and new features.
Founders of Audius
Audius was founded in 2018 by Roneil Rumburg and Forrest Browning. Rumburg became interested in the cryptocurrency world as a student at Stanford in 2013, having previously founded a cryptocurrency protocol called Backslash. Browning, on the other hand, founded a data center management platform called StacksWare as part of a research project at Stanford and made the Forbes 30 Under 30 list in 2016.
Audius was launched publicly in 2019, with a livestream event with well-known artists such as deadmau5. The platform has received support from celebrities such as Katy Perry, Jason Derulo, Steve Aoki and Nas, as well as investors such as Sound Ventures, founded by Ashton Kutcher.
AUDIO Coin Price Reviews
AUDIO token price is currently trading at approximately $0.129. Experts note that the price of the AUDIO token may fluctuate in the short term. Given the current market conditions and the general state of the cryptocurrency market, the price of the AUDIO token is expected to move between $0.12 and $0.14 in the short term.
In the medium term, AUDIO token is expected to gain value as the Audius platform’s user base expands and interest in decentralized solutions in the music industry increases. Experts predict that AUDIO token could reach $0.15 to $0.20 in the medium term as the platform grows and new features are added. In the long term, with the increased adoption of decentralized music streaming platforms and Audius becoming a leader in the industry, AUDIO token is likely to reach $0.25 and above.
The Future of Audius
Audius aims to bring about a significant transformation in the music industry with its decentralized structure. The main advantages of the platform are that artists can present their works with a fairer revenue sharing model and listeners can interact directly with artists. Audius is expected to reach more users in the future and gain wider acceptance in the music industry. This will increase the value of the AUDIO token and contribute to the growth of the platform.
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