Rolling Stone reports celebrities’ $5 million investment in decentralized music streaming Audius
Personalities like Katy Perry, Nas and Jason Derulo are getting into the app that gives direct profits of tracks to the artist
This week, Rolling Stone magazine reported a $5 million round of strategic funding being made by huge artists and celebrities in the music industry to the blockchain-powered streaming platform Audius. Amongst the personalities that are involved in the endeavor is the pop singer Katy Perry, rapper Nas and R’n’b singer Jason Derulo.
Audius is a decentralized music streaming startup that has its own token called AUDIO. Back in August, the company already had caught attention to its project once they closed a deal with the chinese mogul TikTok, which allowed the users to utilize tracks available in Audius to be used in TikTok’s videos for free.
The deal with the Chinese social media platform led to a 90% growth of value to Audius’ tokens in that time. By then, artists like Diplo, Skrillex and Deadmau5 already had some of their work uploaded onto the platform.
With the AUDIO token, artists can upload tracks and through the blockchain decentralized technology all the streaming royalties go straight to their pockets, with no intermediate such as labels or music corporations.
Also, the platform automatically rewards certain achievements with AUDIO tokens: top 5 weekly trending tracks, top 5 trending tracks, top 5 trending playlists, top 10 API apps, or uploads by those with verified Twitter or Instagram accounts.
AUDIO on Klever
You can get the AUDIO token on the Klever App with the following trading pairs:
Get to know more about Audius and try the app: https://audius.co/