AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Founded by Roneil Rumburg and Forrest Browning, Audius (AUDIO) is a decentralized music streaming protocol that is built on top of the Ethereum and Solana blockchain. Launched to cater to the inefficiencies of the music industry, artistes can not only store music on its platform but also upload and distribute them.
Music enthusiasts and artistes can publish the content on Audius’ content ledger without any cost. As it is decentralised in nature, the concept of copyright protection is redundant. Audius rewards the content creators who regularly feature in the trending list. The content nodes ensure that the tracks or the collections can be tracked through AudSP.
Also read: PinkSale (PINKSALE) crypto: How to create unique tokens on this platform?
AudSP happens to be an InterPlanetary File System extension and both artistes and clients can select the set of nodes and fetch content or submit proofs of the tracks.
The AUDIO token on 4 March was witnessing a positive rally of over 5% and a volume rise of over 450%.
Why is Audius rallying?
The Audius token has been witnessing a decent rally past 30 days though the reason behind the recent rally is still unknown. In fact, it saw a rallying of over 104% in 30 days. In the past 14 days, it was up by 41%.
One of the features of the Audius crypto is that through this, the users get control of their music compositions. The artistes too get the benefit of getting time-stamped records of their music with their name, which in a way creates value for the content creators.
Audius’s popularity base has been growing of late and is giving the likes of Spotify stiff competition. The users can stake AUDIO token with Blockdaemon and earn handsome rewards in the process.
Also read: What is Bakery Token (BAKE), why is it trending?
How is AUIDO token faring?
The Audius token was trading at US$1.37 with a 24-hour trading volume of US$298,668,667, according to CoinMarketCap. The token was witnessing a rally of over 11.92% in the last 24 hours and was enjoying a market cap of US$851,791,153 and 400,244,277 AUDIO coins in circulation.
Conclusion
The rally has been consistent for the last few weeks, and the token has been climbing up the popularity charts who are in music-based blockchains. How high will it go still remains to be seen, but one should take measured steps while dealing with cryptos. The prices of it can change at any given point in time, therefore, one must approach the market carefully.
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies, you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.