Blockchain streaming platform Audius launches $AUDIO rewards
Audius is a blockchain streaming platform launched in 2018, supported by various major artists such as deadmau5, Skrillex, The Chaismokers, 3LAU, and many others. Recently, the platform has introduced $AUDIO Rewards, a gamified feature that allows the platform’s best top artists, fans, and curators to get the $AUDIO token simply by utilizing the platform. Fans and artists will receive $AUDIO tokens for doing various in-app actions, such as daily listening streaks, inviting friends, downloading the mobile app, uploading their songs, and much more. This reward system benefits all users; its main goal is to create a healthy environment where artists are creating art and fans are listening to it, this helps artists be experimental and gain traction.
— Audius ? (@AudiusProject) February 16, 2022
Audius has not introduced monetization into its platform yet; the awards are not a part of the monetization, but just an addition to push users to interact and accomplish certain tasks. Before the release of this strategic award system, the only way users would gain $AUDIO awards was through gaining a spot at top 5 weekly trending tracks, top 5 weekly trending playlist, top 10 monthly API app, or having a first verified account upload. Audius is now capable more than ever to enroll such award systems and vastly scale its streaming platform with the help of the Solana blockchain. Initially, Audius used to operate on the Ethereum network, however, as the number of active users has grown, the time it takes to load took longer and made token distributions not so cost-efficient. With the increased difficulties Audius bridged the $AUDIO token from Ethereum to Solana with the help of Portal. This bridging process, according to Audius, is an essential step towards delivering more functionality to the growing Solana ecosystem.
Audius also launched the NFT collectibles category on their platform in 2021, allowing artists to exhibit all of the NFTS they possess or the ones they are listing to sell from various wallets and marketplaces. Fans can buy or view the NFTs just by clicking on their favorite artist’s profile without having to go down a rabbit hole of NFT boutiques.
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