I. What is Audius?
Audius is a fully decentralized music streaming service that enables users to directly support musicians using the platform’s native money, AUDIO. As of December 2021, Audius had links with over 100,000 musicians and about 6 million unique monthly users.
Audius is a layer 2 blockchain protocol that was originally built on top of an Ethereum sidechain – known as the POA Network. Audius experienced scalability problems as a result of the rising popularity of streaming, and the project believed that moving its content management system to the Solana blockchain in 2020 would improve performance. The AUDIO project’s native money, however, is still present on the Ethereum blockchain. With the use of the ERC-20 governance token AUDIO, network upgrade and change ideas can be voted on by founders. By staking AUDIO, they can also gain access to special features.
II. History of Audius
By eliminating the restrictions posed by middlemen and record labels, Audius—which was co-founded in 2018 by Forrest Browning and Roneil Rumburg—has transformed the conventional music industry model. The amount of times a song is played does not affect an artist’s earnings as it does on other streaming services. Audius provides musicians sole ownership of their music, and they are free to choose how to make a living from it. The node operators (stakers) who maintain the Audius network will earn the remaining 10% of the revenue, while the music curators will receive 90% of it in AUDIO tokens, according to Audius.
III. Striking Features of Audius
Users have access to the best music quality available on a free platform, which is 320 kbps. On Audius, anyone can publish and create items without restriction; no group or person has the authority to ban your account or remove your products.
Audius has 3 forms of tokens:
- Native token: AUDIO is the token of Audius.
- Stablecoin: Currently not available, but in the future, it may be a 3rd party stablecoin, used to unlock fee-based services on Audius.
- Artist tokens: These tokens are exclusive to each artist, and owners will enjoy extra privileges. And in order to accomplish so, musicians must possess audio.
IV. Core Technology of Audius (AUDIO)
Artists (content producers), Fans (content consumers), and Service providers are the three user demographics that Audius covers. Some test participants fit all three categories:
- Artists exchange content with their fans by uploading songs, making albums, and so forth.
- Fans share content with their followers, stream music, make playlists, and subscribe to and follow artists.
- Service providers that provide application traffic, song streaming, and network security.
By staking $AUDIO and charging a subscription fee, service providers can deliver one or more of the following services:
- Discernment Node (hosts an SSL-enabled endpoint and registers the endpoint with shares)
- Article Node (host an SSL-enabled endpoint and register the endpoint with staking)
As shown in the diagram, creators have the option of running their own content node or utilizing one of the network-registered content nodes.
V. What is AUDIO?
1. Detailed Information about AUDIO
Although Audius has moved to Solana’s blockchain, the AUDIO coin remains on Ethereum.
The Audius platform also automatically rewards certain achievements with AUDIO tokens such as:
- 5 weekly trending music
- Top 5 trending songs
- Top 5 trending playlists
- Top 10 API apps or uploaded by people with verified Twitter or Instagram accounts.
Basic information about AUDIO coin:
- Transaction code: AUDIO
- Blockchain: Ethereum
- Contract: 0x18aaa7115705e8be94bffebde57af9bfc265b998
- Token standard: ERC-20
- Total supply: infinite
- Circulating Supply: 923,501,066
- AUDIO coin price today: $0.208900
2. AUDIO Allocation
- Team & Advisor: 40.5%
- Investor: 36%
- Foundation Treasury: 18%
- Airdrop: 5.5%
3. AUDIO Noticeable Milestones
- Token Sale
- Fundraising round sold 5.5 million USD.
- Joint venture round to sell $3.1 million.
- Token Release Schedule
- 50 million AUDIO, or 5% of the total 1B supply, was distributed among the top 10,000 artists and fans. 75% went to the artist based on the number of streams.
- 40.6% of the token supply has been allocated to the Audius team and advisors, with 36% set to be distributed to the platform’s investors and 17.8% of the supply allocated to the treasury managed by the community.
- The token supply will increase by 7% per year for distribution to future users.
- Note: Allotted tokens will start to be unlocked more from April 2021.
4. Use Cases of AUDIO
The AUDIO token is primarily for governance and financial incentives to increase protocol usage and create lasting protocol value.
$AUDIO has three sets of functions in the protocol unlocked by staking:
- Feature Access
Tokens from Audius are staked as security for value-added services. Holding businesses receive constant issuance, administrative weight, and access to special characteristics in exchange. Node operators stake Audius tokens to run the Audius protocol, and artists and curators stake them to gain access to premium features and services.
Any $AUDIO set in the protocol is given an administrative weight that will be used to influence further protocol revisions. The artist-based engine will also have collateral in the form of Audius tokens.
Initial examples incubated by the community include artist tokens, badges, and earnings multipliers. In the future, fans can delegate tokens to specific artists and curators to share their development on the platform and future token releases.
- To run a discovery or content node, node administrators must stake Audius tokens; higher stakes are correlated with a higher chance of getting chosen by 4 fan users.
- The ability to charge future protocol fees for active seeding gives node operators a direct profit from seeding $AUDIO.
- By using on-chain metrics as a benchmark, the community wants to make sure that Audius tokens always go to the actors that have the greatest added value rather than just to those who are staking the most tokens but are not actively participating in the ecosystem.
- Pay with Stablecoins: The Audius community has the option of using external stablecoins to access premium content. Protocol fees, which include fan payments to artists, can be added as a percentage to stablecoin transactions. These fees will be collected into a pool that is run by holders of Audius tokens.
- Artist Tokens: Through Audius, artists may be able to issue special tokens that allow fans who possess a certain amount of tokens to access restricted content. Artist tokens stake Audius tokens to gain access to distribution mechanisms, and they can get specialized advice on how to use their tokens in the Ethereum ecosystem more generally from Audius representatives.
On issuance platforms like Roll, Zora, and Rally, Audius acts as a pool of artist tokens; any token that is compatible with Audius can be distributed using protocol-driven processes.
VI. How to earn & own AUDIO?
Users can own AUDIO tokens by buying them on exchanges like Binance, Uniswap, Hotbit, Kucoin, FTX, etc.
VII. Which Crypto Wallets are suitable for AUDIO?
When users buy AUDIO coins, you can store them right in the wallet of the exchanges or the wallet of Audius or Trust Wallet, Metamask, etc.
VIII. AUDIO Recent Developments
- Genesis (05/2018—December 2018).
- Private Alpha (January 2019-July 2019).
- Testnet (August 2019-September 2020).
- Mainnet Launch (October 2020).
- Crossing the Chasm (December 2020 & beyond).
IX. Teams, Funds & Partners of Audius (AUDIO)
The goal of the Audius team, which consists of business owners, engineers, and obviously audiophiles, is to empower a new generation of artists in the rapidly developing web 3.0 world. Forrest Browning and Roneil Rumburg are the other co-founders of the initiative.
Roneil co-founded Kleiner Perkins, where he oversaw the seed rounds for Lightning Labs and other blockchain and AI businesses. He graduated from Stanford University and co-founded Backslash, a business that processes Bitcoin payments.
Forrest, however, was included in the Forbes 30 under 30 lists. As a co-founder of Stacksware, an enterprise-grade data management platform that is a component of a Stanford research initiative, he engaged in his most recent entrepreneurial endeavor. In order to deliver data analytics, the company collaborated with 500 real estate firms and launched its sales in 2017.
2. Investment Funds
AUDIUS partners: Tiktok, The Graph, etc.
Singers: Nasir Jones, Steve Aoki, Thugbirdz, Katy Perry, The Chainsmokers, etc.
X. Where can Audius (AUDIO) information be updated?
Currently, Crypto users can fully consult, research, and analyze information about Audius (AUDIO) through famous media newspapers such as Nasdaq, Bloomberg, Forbes, AP News, Yahoo!Finance, CoinTelegraph, Coindesk, etc
These media are constantly updated with useful information, new activities, outstanding events of Audius, and all the topics surrounding it. Accordingly, Meta Lion Ventures continuously updates the topic of outstanding projects in Blockchain and hot events organized between Meta Lion & partners.
XI. FAQs about Audius (AUDIO)
- Where can Crypto users buy Audius stock?
Currently, Binance, BingX, MEXC, Bybit, and Bitrue are the leading cryptocurrency exchanges for trading in Audius stock if you’re looking to purchase it at the current price.
- Is Audio a good investment?
Audius is a wise investment. Because of the enormous growth, it has experienced in the contemporary music industry, AUDIO coin price forecasts indicate that it has long-term earning potential. Consequently, it is seen as a successful long-term investment.
- What exchanges sell Audius?
The most popular Audius exchanges are Binance, KuCoin, Huobi Global, and Kraken.
- Is Audius built on Solana?
Audius is a fully decentralized music platform. Own the masters & the platform. Audius is the latest project to move over to Solana and has been growing rapidly, now with over 1 million monthly listeners.
To sum up, being built for the purpose of artists – who have a great influence on the community is the reason Audius is in the top 150 of the world’s largest capitalization virtual currency projects. Audius may look like another music streaming service, but it presents new opportunities for the music industry and artists. It also demonstrates how blockchain applications can be used in many different aspects of life, both in real life and in the metaverse. Although the project has certain limitations, we can hope for a bright future for Audius.
The above is Meta Lion’s comment on the Audius project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions.