What is Audius (AUDIO)?
According to the Audius whitepaper: “The music industry generates USD 43 billion in revenue, but only 12% goes to content artists.” And the main goal of Audius is to empower content creators, in a way that they can monetize their content without depending on a platform that takes a large part of the revenue generated by the artist.
In centralized music streaming applications such as Deezer, Spotify, among others, artists need to have a high number of listeners to be able to generate some profit, as these platforms stay with the largest part of what is monetized with their content, through royalties or advertising.
Today, Audius has more than 100,000 artists in its catalog, including famous electronic music artists Skrillex and deadmau5. This year Audius passed the mark of 5 million monthly active users.
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FAQ: Frequent asked questions about Audius (AUDIO)
How does Audius work?
The Audius protocol allows artists, users and node operators to collectively deliver a high-quality music streaming experience to the end user, without a centralized infrastructure and without censorship. It is also interesting to say that just like a blockchain transaction, which records in its ledger (logbook) the date and time the transaction occurred, in Audius it happens in a similar way with the content, thus, an immutable way of recording and consult. So any kind of piracy that might happen can be tracked and blocked, thus guaranteeing the content creator more security regarding piracy of their music.
How to buy Audius (AUDIO)?
You can buy Audius (AUDIO) at any exchange that owns the currency. Monnos is a Cryptobank with a large amount of cryptos available for trading, with more than 70 assets listed in our market. The cryptocurrency purchase process was made for those who do not yet have experience in this market and who wish to position themselves in crypto.
How to listen to music through Audius?
To start listening to music on Audius is very simple, just go to the official website, register with your email or through a wallet like Metamask. Audius allows 3 ways for you to play music like any other music streaming app. You can use the web version player through your browser, download the desktop app or on your Android or iOS smartphone.
What is and what can be done with AUDIO token?
As it is a decentralized platform, Audius has the AUDIO token, which is the ecosystem's governance and utility token, which allows holders to have the right to participate in Audius decisions, in addition to offering rewards and being offered as a bonus for most active artists and users of the platform.