Audius

What is Audius?

Audius stands out as a groundbreaking music streaming platform, leveraging blockchain technology to empower artists and listeners with increased autonomy. Through Audius, artists can effortlessly upload their music, retaining complete control over their content. Meanwhile, listeners gain access to an extensive and varied collection of tracks contributed by skilled musicians and producers globally.

The decentralized structure of Audius fosters active community involvement in governance, fostering a collaborative and vibrant environment. Audius is paving the way for a more fair and inclusive music industry in the years to come.

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Recent Video Interview

Main points of the interview:

• Audius empowers artists by eliminating traditional music industry middlemen.
• Audio staking, its metrics, and the network’s governance.
• Aims to grow by offering more monetization opportunities for artists.
• Future challenges include managing technical constraints and scaling the network.

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Who Uses Audius?

Audius comprises three user demographics: Artists (content creators), Fans (content consumers), and Service Providers. Some users may fall into all three categories.

Artists:

• Upload tracks
• Create albums
• Share content with their following

Fans:

• Stream tracks
• Create playlists
• Subscribe to and follow artists
• Re-share content with their following

Service Providers:

• Serve app traffic
• Stream songs
• Assist in securing the network

Service providers have the option to offer one or more services by staking $AUDIO tokens and registering their service, which can include:

• Discovery node (host an endpoint with SSL support and register endpoint with stake)
• Content node (host an endpoint with SSL support and register endpoint with stake)

The AUDIO Token

Audius platform tokens (AUDIO) play a crucial role in three aspects of the ecosystem: Security, Feature Access, and Governance. Users stake AUDIO as collateral for value-added services like operating nodes or participating in governance, earning ongoing rewards, governance weight, and access to exclusive features. In the future, AUDIO will govern a global fee pool. This native token aligns incentives within the Audius community, allowing early adopters to share in the platform's growth. Security is enhanced as AUDIO is staked by node operators, while collateralized AUDIO unlocks artist tools for feature access. Governance is facilitated through AUDIO staking, giving users a say in protocol development. Ongoing issuance is used to reward active participants, ensuring a fair distribution of tokens based on user engagement rather than sheer stake quantity.

Staking AUDIO

Audius, a decentralized protocol on Ethereum, relies on a network of third-party node operators to store and index content. These operators must stake $AUDIO tokens as collateral, providing a security measure against malicious behavior. Using $AUDIO as collateral allows anyone with the right hardware to become a node operator, contributing to a more secure network. Node operators earn $AUDIO through automatic on-chain issuance, with larger staking leading to a greater share of rewards. This approach ensures a decentralized and secure content storage system with incentivized contributors.

Audius Team Background and Investors

Founded in 2018 by California-based entrepreneurs Roneil Rumburg and Forrest Browning, Audius boasts a team led by Rumburg, a Stanford University alum and co-founder of Kleiner Perkins. This early-stage seed fund specializes in blockchain and AI investments. Browning, also a Stanford alum, is a Forbes 30 Under 30 recipient and a co-founder of StacksWare, an enterprise data center management platform. The team, consisting of 21 other members, is supported by notable figures like electronic music producer deadmau5, Adam Goldberg (co-founder and MD of Stanford Crypto), Bing Gordon (co-founder of EA Games), Katy Perry, Nas, The Chainsmoker, Pusha T, and Steve Aoki.

Audius Project Development

In response to the burgeoning trend of AI-generated music, Audius emphasizes the importance of ensuring artists receive due credit for inspiring this cutting-edge technology. The feature caters to both artists permitting their styles as inspiration and users crafting AI-generated music.

For artists opting in to inspire others:

• Opt-in through the settings menu: Audius artists can include themselves in the list for potential attribution of AI-generated tracks by opting in through the settings menu on the Audius website. Although Audius is not presently training models based on users' musical styles, the Audius API will soon facilitate integrations using artists' styles as inspiration.

For users creating AI-generated music:

• Mark a song as AI-generated: During the song upload on Audius, users can now designate it as AI-generated by selecting the AI attribution button in the advanced section of the upload form.
• Attribute the inspiration: After marking the song as AI-generated, users can toggle and choose the artist whose style influenced their creation from a dropdown list. This list exclusively features artists who have opted in via their settings page. Notably, content can only receive the AI-generated designation when associated with an artist actively opting in for attribution.

Audius Price Analysis

As of November 24 2024 Audius has a marketcap of $209M. This is {{percentagefromath}} from its all time high of $4.95. In terms of its tokenomics, there's a total supply of 1.3B with 100% currently outstanding. Keep in mind Audius has a fully diluted value of $209M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.