Audius review details (AUDIO)



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Audius (AUDIO) is the native cryptocurrency of the blockchain-based decentralised Audius streaming platform. The ERC-20 token also functions as a governance token. Holders of the Audius coin can stake it in order to secure the network and accessing exclusive content of creators.
AUDIOUSDT (-1.01%)
$0.348
August 18, 2022, 3:00 pm [UTC]


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Audius is the native cryptocurrency of its multi chain protocol operating on 3 blockchains - Solana, Ethereum and Dai. It enables content creators to receive higher earnings on their content and control its distribution. It also provides value-added services to fans and content creators that stake. Content creators create artist tokens using the coin to provide token-restricted content to their fans. Node operators stake AUDIO to operate the protocol via its discovery or content code. Audius has governance weight to its holders who vote and propose the protocol's decisions.

 

Briefly about Audius

Roneil Rumburg and Forrest Browning are the co-founders of Audius that had a pre-mine of 1 billion tokens at its mainnet launch in October 2020. It represents the utility token in the AUDIS streaming platform to issue artists a higher percentage of earnings from their music and control over its distribution. The coin eliminates the agencies and labels in the traditional music industry, and fans pay artists directly. It provides a shared economy to the creators, fans, and node operators. It achieves this by staking. It secures the AUDIS protocol, enables featured access, and provides governance voting rights.

Discover and stream up-and-coming artists at Audius.CryptoLists.com
 

Audius powers the streaming platform ecosystem. Creators monetize their content and receive higher earnings via the coin. It eliminates agencies and gives exclusive ownership of content to artists. Fans support them via the coin. It ensures they control distribution and sales transparently, unlike the traditional music industry. Content curators receive 90% of the revenue through the AUDIO coin, while stakers receive the remaining 10%. Users receive compensation based on the value they provide to the network.

 

Utility of Audius?

Audius has three functionalities through its staking. These are security, featured access, and governance. It serves as collateral to the protocol and allows users value-added services. Stakers earn ongoing issuance, governance rights, and access to exclusive content. Node operators also stake the coin to run the protocol via the discovery or content node. A higher stake correlates to a higher chance of fan clients choosing them. They receive the native token for seeding and future probabilities of earning from their seeding. It is also a governance token for the streaming platform where holders propose and vote on the protocol. Creators stake the token to create artist tokens for fans to access exclusive content. AUDIO tokens are in bond as the artist tokens are distributed to fans to ensure they are not in it for quick gains.

Audius Price details

ERC20 Contract address: 0x18aaa7115705e8be94bffebde57af9bfc265b998




Very speculative and theoretical potential data
Last updated: August 18, 2022, 1:39 pm
›› AUDIO tokenomics and social media
 

Advantages at Audius

+ It pays artists directly without intermediaries once fans stream their music.
+ Active participants dictate protocol changes to maintain government weight.
+ Audius is ranked amongst the highest cryptocurrencies by market cap.
+ Users earn the token by sharing their playlist on the streaming platform.
 

Disadvantages

- Artists have to provide an open license for the coin's utility.
- Users can utilise Audius to upload copyright content on the platform.
- It faces competition from established streaming platforms such as Spotify.
- Audius is yet to provide mobile app support for Music NFTs.
 

Costs

▪ Rated at 8/10

Content creators can charge custom fees for the coin for fans to access their content. There are no deposit fees charged to AUDIO users. The withdrawal fee and trading fee are dependent on the exchange one uses.

 

Reputation and Buzz

▪ Reputation rated at 9/10
▪ Buzz rated at 9/10

Audius is a welcome addition as it provides a real-world solution for music creators. It allows them to engage with fans directly while instantly receiving tokens as a reward for their content. The governance token allows users to participate in proposals and vote on the decision on the protocol. It also rewards artists based on the performance of their content on the streaming platform. It includes featuring content on the top 5 weekly trending tracks, top 5 weekly trending playlists, top 10 monthly API apps, and first upload after verifying their social media accounts. There is concern about the permissionless nature of the coin that allows users to upload copyright content on the platform. Creators issuing free licenses to the platform cause worry on online forums. Yet, it has achieved several notable milestones. It has facilitated the introduction of music NFTs to the platform. The coin is part of the Audius Storefront within the Okay Bears Discord. AUDIO recently facilitates users to share their content on TikTok, with popular artists such as Skrillex joining the streaming platform. The coin's blockchain tracks information such as payments for streaming, listening data, and other analytics to profile users. It creates more relatable and relevant content for each of them.

 

FAQ

What are the rewards for staking the token?

Stakers earn newly issued tokens and platform fees. There is a guaranteed annual reward of at least 7% which depends on the amount staked. Staking allows users to also participate in the governance of the protocol and access exclusive content. Node operators with a higher stake have a higher probability of their nodes being used by fans to discover content on the streaming platform. Content creators acquire distribution tools for their artist tokens to fans for accessing token-exclusive content.

What features regarding the coin are changeable by governance?

The coin is a decentralised utility and governance token where everything is adjustable. Governance parameters are also changeable by the community governance. Adjustable parameters include token distribution, staking rewards, feature integrations, royalty rates, and fee pool allocation. It only requires a stake-weighted token voting, a simple majority threshold, and a quorum of 5% of the staked token.

Where to buy the native token?

The top three cryptocurrency exchanges to buy the AUDIO token include the following:

+Binance: The world's most used crypto exchange offer AUDIO/USDT, AUDIO/BUSD and AUDIO/BTC as three of their trading pairs. Sign-up for Binance now!
+FTX: On the spot market, you can trade AUDIO/USD and AUDIO/USDT from FTX, while they also offer Audio futures for those looking to take advantage of volatility in the crypto market. Give FTX a try today!
+Kucoin: One of the most popular crypto exchanges in the world, with a great amount of deposit methods and a state of the art interface. You can trade Audius with USDT for instance. popular crypto exchanges in the world, with a great amount of deposit methods and a state of the art interface. You can trade Audius with USDT and BTC for instance. Give Kucoin a try today, you will not regret!

Which network supports the token?

Initially, the Ethereum network supported the token. An increase in demand for the coin and its functionalities facilitated its move to the Solana network. Solana provided the mechanisms to scale to meet the demand.

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Screenshots from Audius

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More sites where to buy/sell/trade Audius

Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
AUDIO/USD
AUDIO, AUDIO/BNB, AUDIO/USDT, AUDIO/BUSD, AUDIO/BTC
AUDIO, AUDIO/ETH, AUDIO/EUR, AUDIO/USD
AUDIO/BTC, AUDIO/USDT
AUDIO/USD,CRYPTO, AUDIO/USDT,CRYPTO
 

Audius details and tokenomics

Audius Ticker: AUDIO
ERC20 Contract address: 0x18aaa7115705e8be94bffebde57af9bfc265b998
SOL Contract address: 9LzCMqDgTKYz9Drzqnpgee3SGa89up3a247ypMj2xrqM
DAI Contract address: 0x8A95ea379E1Fa4C749dd0A7A21377162028C479e
Type of crypto: ethereum-token
Launch/ICO Date: January 1, 2000
Resources & Social media
Blockchain URL: https://etherscan.io
 

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