Crypto music streaming platform Audius has developed a new feature that allows users to send the platform’s governance tokens to their favourite creators.
The Audius protocol is a blockchain-based alternative for SoundCloud that allows artists to publish, monetize and distribute their work directly to fans.
This package consists of a first party app that interacts with the protocol and a reference implementation. The protocol is specified in the whitepaper
The platform boasts 7 million users, 250,000 artists and is currently in use by over 250,000 people. Current valuation: More than $1 Billion Audius platform allows its users to support their favourite artists tokenized, express their support through their governance token audio or connect with an external crypto wallet.
The company is planning to offer fiat currency tipping via credit card in the future.
Forrest Browning, cofounder of Audius said: “We kind of see it as laying out the breadcrumbs to help our mainstream, Web2 audience start to understand how to tip and how to support their favourite artists and a Web3 ecosystem.”
He said that the platform does not need to be able to attract everyone on all platforms, but rather focuses on the top 10 most engaged users.
Audius and TikTok developed “TikTok Sound” last August to allow users to upload sounds to the TikTok platform via Audius.
Audius has raised $8.6 million in two funding rounds. The Solana Foundation launched a $5million product with Music Streaming Service Audius and the non-fungible token marketplace Metaplex in order to attract influencers who want to share their art on Web 3.