Audius Blockchain Music Streaming Platform

With Audius, a new, decentralized streaming service with the artist focuses on the market. He is positioning himself as a competitor to Spotify and Co. and wants to convince his users with IPFS and blockchain. The aim is to create a network that helps artists and creatives to achieve reach and fair payment.

Focus on the artist

Forrest Browning and Roneil Rumburg invented Audius back in August 2018. The platform presents itself as an alternative to other companies such as Spotify but takes a more creative approach to convince artists and users. Because the start-up offers musicians the opportunity to upload their creations regardless of which label they belong to. There should be no hidden costs and new monetization models are also required.

The streaming service currently has around 6 million users a month. That makes up just 2% of the people who access offers such as Spotify and Co. However, the specialty of Audius is that artists can make their tracks available to the public without having to accept any limitations. The streaming quality of 320 kbps is also higher than that of some competitors. In addition, anyone can take on the role of curator.

In addition, the offer is a streaming app based on Ethereum. It is, therefore, a decentralized app. In general, you don’t need any money to listen to music. To unlock all content, however, tokens of the blockchain network have to be bought. In general, the offer is aimed at all those artists who cannot afford the license agreements with streaming services such as Apple Music, Spotify and others. On the streaming portal, they find an open platform and tools to build a community.

In contrast to the “big players,” Audius uses a different remuneration model. So the artist is not paid based on the number of track plays. Instead, much more is made possible for him to earn money individually. The division is 90% to 10%. This is achieved by paying the musician directly with the token and not the management and the record label.

Blockchain network for creative people: Audius

The streaming platform brings a breath of fresh air to a competitive industry and could accelerate decentralized applications. The approach of supporting artists directly with the tokens gives the artist a lot of flexibility. In addition, the platform as such has an open-source character, which enables it to be continuously developed by the community. The price for an AUDIO token from Audius is currently € 1.83. Initially, the company had issued 50 million of the tokens to the top 10,000 artists and fans.

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