Audius is a music streaming platform on the blockchain.
Specifically, musicians can use Audius to distribute music and get paid directly from fans.
Besides the decentralized approach, the streaming service offers music quality at 320kbit/s (as a comparison, Spotify’s free version limited to 160kbit/s).
Audius is reported to have over 6M monthly active users in September, an increase from only 500K 12 months ago.
The market cap for Audius’s native token ($AUDIO) is currently around $821M.
The SF-based startup has raised $13.6M in funding to date.
What's next:
Audius is a part of the “content on the blockchain” meta trend.
Only 10-15% of Spotify’s revenue goes to musicians. Fewer than 7% of Medium’s partner program authors earn more than $100 per month. And YouTube keeps almost half (45%) of content creator earnings.
Which is why a growing number of creators are flocking to Web 3.0 content distribution platforms.
In fact, Messari currently tracks 46 crypto assets related to content creation and distribution. Those assets have a market cap of $38B.
Here are some of the growing players in this space:
LBRY: Decentralized protocol for sharing digital content. The most popular app in the LBRY network (
Odysee, a video streaming service) hosts 10M+ videos. The market cap for the platform’s coin (LBRY Credits) is now at over $18.5M.
Theta Token: Decentralized video streaming and delivery network. Theta’s tokens have a market cap of $5B, an increase from $1.97B in January.
Steemit: Decentralized social media platform powered by
Steem blockchain. Content creators are awarded platform cryptocurrency (STEEM). STEEM’s market cap has tripled since January 2021.