AUDIO token holders can leverage the Audius native token by tipping their beloved musicians or simply linking to an external crypto wallet.
Audius, a Web3-based music streaming platform, has recently revealed that it would be rolling out a new feature, allowing users to send monetary tips to their favorite artists using the platform’s native token AUDIO.
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According to the official announcement issued on July 19th, Audius, which currently has over 7 million active users and around 250k artists, musicians who received a tip will also be able to show their gratitude by reacting with an emoji, which users can display on their profiles as a “trophy.”
The news arrives after Audius revealed in February its new rewards program, allowing users to earn AUDIO tokens by carrying out various in-app activities. For instance, to win some tokens, fans can create playlists, upload some tracks, fill out their profile, and more.
Roneil Rumburg, CEO and co-founder of Audius, mentioned that the Ethereum (ETH) and Solana (SOL) blockchain-based music platform has always wanted to introduce a way for creators to earn some money from the content that they produce. Now, artists will have more freedom and opportunities, which will hopefully push more musicians to join Audius.
However, Forrest Browning, CPO of Audius, noted that the company isn't seeking to steal 100% of fans from artists situated on other similar music streaming platforms. “We’re trying to attract maybe the top 10 most engaged superfans,” he added.
Browning stated that Audius is additionally planning to fire up a feature in the upcoming future that would allow users to tip performers using not only the AUDIO token but also real money from their credit cards, mentioning:
"We kind of see it as laying out the breadcrumbs to help our mainstream, Web2 audience start to understand how to tip and how to support their favorite artists and a Web3 ecosystem."
Audius, operating for more than 4 years now, managed to leave a significant footstep in the music industry. For instance, last year, the platform joined forces with an agriculture simulation crypto game DeFi Land to fire up an FM radio tower in the metaverse.
In other news, back in may, Audiu's rival Spotify announced that it would be experimenting with the musician’s profiles and testing out non-fungible tokens (NFTs) to boost users' experience.