Audius
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Information about Audius (AUDIO)
Audius is a decentralized music streaming and sharing protocol that enables the free distribution, monetization, and streaming of audio content by permitting direct transactions between listeners and creators. Thanks to decentralized development based on the Blockchain, anyone can upload and develop products on Audius; no organization or individual can prohibit an uploader’s account or remove the uploader’s products. Audius protects artists’ rights and eliminates intermediary expenses by incorporating blockchain technology into the music market.
AUDIO is the original token operating within the Audius platform. It provides holders with the following benefits:
- Reward: AUDIO holders receive a portion of the network fee when running nodes.
- Exclusive rights: Artists can unlock special features and services like their own tokens or their own badges.
- Governance: AUDIO holders have the right to participate in the governance and decision-making processes for all Audius’ events.
News
Audius secured a multi-territory deal with ICE to collect royalties from regions like sub-Saharan Africa and Asia Pacific. This partnership enhances opportunities for artists and rights holders, fostering a more equitable music industry.
Through this agreement, Audius allows artists to receive direct payments in U.S. Dollars, increasing transparency and benefiting creators from fan support. This feature strengthens the platform’s artist-centric approach.
Tim Rawlinson from ICE highlights this collaboration as vital for sustainable growth in the international music landscape. By leveraging blockchain technology, Audius aims to create a dynamic and accessible music ecosystem for all.
Web3 music streaming platform Audius integrates TikTok
Web3 music streaming platform Audius is adding support for the popular social media platform TikTok, the company said Thursday.
Audius users can sign up for the application with their TikTok profiles and use the streaming service’s songs in their videos on the social-media platform.
Audius was hacked by a $6 million exploit
Audius has been facing a terrible issue that might put its funds at a huge potential risk. According to the official Twitter handle of the platform, the team is aware of reports of an unauthorized transfer of AUDIO tokens from the community treasury.
The above vulnerability caused the Treasury fund to drain 18.5 million AUDIO tokens, worth approximately $6.6 million. The team has also updated that the vulnerabilities have been patched, but many features such as token transfer and balance display have not been activated because of concerns about risks.
Audius is building a radio station in the Metaverse
Audius is now fully integrated into DeFi Land, a multi-chain agriculture-simulation web-game built on Solana and created to gamify decentralized finance.
The upgrade allows users to stream any of the millions of songs in the Audius library while playing the game, and comes just in time for DeFi Land’s public launch, which is expected to be announced in the coming weeks.
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