Audius

What is Audius?

The Audius or AUDIO token is native token of decentralized music streaming service – Audius. It runs on the Solana blockchain.

AUDIO is ERK-20 token, employee governance token. It means that Owners of AUDIO have unalienable voting rights.. They can vote to accept or reject the proposal, which could change the future of the entire Audius crypto project. However, not all AUDIO holders have the same voting rights. Simply put, the degree of voting rights depends on the number of AUDIO tokens at stake.

Performers can obtain AUDIO in a variety of ways. For the first download they receive an AUDIO. Also engage in hosting and moderation of music tracks. Moreover, if artists place in the top five weekly tracks or playlists, they will receive 100 Audius Coins.

Beyond control, AUDIO is the key to unlocking exclusive features of the Audius platform.

AUDIO plays an important role in the security of the Audius platform. Node operators rely on AUDIO to manage a discovery node or content node.. In return, they receive a share of royalties in the form of AUDIO and control rights.

Artists can also stake your Audius tokens to gain access to premium features and tools. By pledging their AUDIO, they can receive artist tokens, public profile badges, and many more features.

Moreover, staking Audius tokens allows users to receive 7% of them in return.

There are a total of 1,000,000,000 Audius tokens in existence. This could mean that as Audius tokens become more scarce, the price of AUDIO will increase. Audius tokens were distributed as follows:

• 41% – Audius Core Team;
• 36% – Investors;
• 23% – AUDIOdrop, Open Audio Foundation and startup simulation.

Additionally, Audius has set annual inflation at 7%.

You can check the current price of Audius in the chart above.

What are the main characteristics of Audius?

As discussed in the “What is Audius” section, we have established that the Audius crypto project is a music streaming platform based on blockchain technologies. It has the same capabilities as major music platforms like Spotify in terms of music streaming.. What sets Audius apart, however, is that it is completely decentralized. It is important to remember that due to decentralization, Audius does not have any copyright protection.

Eat 3 main roles in the Audius ecosystem: artists, fans and node operators.

Artists are responsible for uploading music to the platform. They don’t have to pay any fees to become an artist on Audius. In the future, Audius plans to introduce a new type of token called an artist token that will be exclusive to each artist.

Fans are listeners. Audius does not have any subscription plans or hidden fees. This means fans can listen to their favorite artists without spending a penny. Additionally, Audius allows fans to show off their NFT and receive profile badges in return.

Node Operators run the smart contract protocol. They rely on AUDIO to control either the discovery node or the content node. Discovery nodes are responsible for exploring content, and content nodes make both content and metadata available to AudSP.

Be sure to take a look at the current price of AUDIO in the chart above if you are considering purchasing this token.

Who developed Audius?

The Audius token was launched in October 2020. It was initially deployed on the POA network but was later migrated to Solana.

The Audius platform itself was founded by Californians Ronail Rumburg And Forrest Browning in 2018.

Roneil Rumburg attended Stanford University, where he successfully completed his studies in computer science and received a bachelor’s degree. Audius is not the only project founded by Ronail, he is also the co-founder of Kleiner Perkins and Backslash. Prior to co-founding Audius, Roneil worked as a technical partner at KPCB Edge. He took the position of CEO of Audius.

Forrest Browning also graduated from Stanford University with a bachelor’s degree in computer science. Besides Audius, he also co-founded StacksWare. At Audius he took on the role of CPO. In 2016, Forrest was named to Forbes’ 30 Under 30 list for enterprise technology.

Audio features 26 core team members on its website. This performance features EA Games co-founder Bing Gordon, Standard Crypto co-founder Adam Goldberg, Twitch co-founder Justin Kahn and many other seasoned professionals.