Founded in 2018, Audius preempted current discourse on dwindling musician and artist revenues and created an alternative streaming platform using blockchain and crypto token incentives.
Decentralized and backed by crypto giants Binance and Coinbase among others, Audius listeners earn more tokens by listening to a small number of adverts, and artists are paid 85% of the streaming revenue, roughly 15% more than the leading streaming services.
Audius’s streaming ecosystem does not necessarily rely on fluency in crypto, which means that it has a wider reach than most blockchain companies, using its token system as a tool rather than an end goal. Casual listeners won’t need to organise or address the crypto element of Audius to listen. Audius’s focus on decentralization also means that users and artists have more freedom over the content on the platform. If it can stop itself from becoming weighed down in its Web3 origins, Audius could be a solid solution to the music industry’s streaming crisis.
Kirsty
Company Specialist at Welcome to the Jungle