WEB3 Music Streaming Service, Audius, Launches a Feature That Enables Users to Tip Artists

  • Fans of artists on the Audius platform can tip their favorite artists with the AUDIO token.

Blockchain music service Audius now has a feature that allows creators, especially artists, to monetize their content. Listeners can send monetary tips to their favorite artists using the platform’s governance token, AUDIO. The blockchain music streaming platform announced on its blog on Tuesday.

The size of the following of such artists does not matter as any one of them can receive the AUDIO token. Audius boasts of more than 250,000 artists with seven million listeners. The artists have released one million tracks on the Audius platform. The platform is open to any artist willing to share their exclusive works with their biggest fans using blockchain technology.

The platform has been operating for more than four years before launching this new feature. Roneil Rumburg, the platform’s CEO and one of its founders, said the Audius team believes the next step in growing Audius is to assist artists in monetizing their content.

Rumburg adds that the Audius team will include more monetization features in the next couple of months. According to him, the new monetization features will benefit fans and artists. The Audius CEO said the team is also planning to introduce a monetization feature outside tipping with the AUDIO token.

Rumburg also said the Audius platform provides a balance for artists to get feedback from their fans and improve their music game. Furthermore, artists have complete control over their content and earnings from them. More importantly, they won’t need to sabotage their close relationship with their fans to achieve this goal.

Audius Expands the Monetization Feature

Audius’ chief product officer and co-founder, Forrest Browning, adds that the platform is mainly interested in attracting the top 10 most engaged superfans and not all the fan base from a rival platform. “We believe that the superfans are the ones who can provide the best tips for artists.”

Browning added that since launching the platform, the Audius team’s top objective is to enable artists to get paid for their works on their terms. Hence, this tipping feature is the first step in the platform’s monetization strategy for creators.

He further said this feature could enable artists’ independence creatively and financially. Audius also has a tipping leaderboard that displays the community members’ tips to artists. Earlier in the year, Audius launched an AUDIO rewards initiative.

Under this initiative, the platform’s users can earn AUDIO tokens when they upload songs, follow artists, create playlists or do all. Now, holders of these tokens can use them to tip artists or link to an external crypto wallet. The Ethereum and Solana-built Audius platform has significantly expanded into the Web3 space.

Last December, it launched a radio station in the metaverse in partnership with DeFi land, a crypto game firm. In September 2021, Steve Aoki, Jason Derulo, Katy Perry, and other top music stars funded Audius with a total of $5 million to aid its expansion efforts in becoming the blockchain alternative to Spotify, Apple Music, and other mainstream music streaming sites.

Rebecca Davidson Verified

Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”

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