Audius launches music marketplace to amplify artist earnings
In a bold move to empower artists and revolutionise the music industry, Audius, the decentralised music streaming platform, has introduced its innovative “music marketplace” feature.
Audius, the pioneering decentralised music streaming platform, has introduced a groundbreaking feature – the “music marketplace” – to facilitate direct on-platform payments between artists and their supporters. This innovative move marks a significant step towards empowering artists and fostering a more equitable distribution of revenue within the music industry.
In an era where streaming platforms have been widely criticized for their meager royalty payouts to artists, Audius stands out as a beacon of hope, offering creators a platform where they can reap additional financial rewards from their work. By enabling direct payments, Audius is paving the way for a more transparent and mutually beneficial relationship between artists and their audiences.
Audius’ six million users now have the opportunity to directly support their favorite artists through credit card payments, which artists receive in the form of USDC stablecoins. Artists can then seamlessly convert USDC cryptocurrency into their preferred fiat currency.
A select group of artists, including The Glitch Mob and Cheat Codes, are among the first to experience the transformative power of the music marketplace. Artists and labels can express their interest in this revolutionary feature by joining the waitlist.
“When we launched Audius four years ago, our mission was to create an artist-centric platform where artists could take more control of their music and deepen their relationships with their most passionate fans,” Audius co-founder and CEO Roneil Rumburg said in a press release. “Today artists and record labels will be able to set their own price to unlock music for their fans – b-sides, new mixes and more. Empowering fans to make direct payments to the artists they love is a milestone moment for Audius and for all of the artists and labels who have made our community a key part of their offering to fans.”
With the launch of its music marketplace, Audius is demonstrating its unwavering commitment to fostering a more equitable and artist-centric music ecosystem. By empowering creators and strengthening fan-artist connections, Audius is poised to revolutionise the way music is valued and consumed.
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