How and Where to Buy Audius (AUDIO)
In 2018, California based entrepreneurs Roneil Rumburg and Forrest Browning founded Audius. The team has more than twenty employees. Audius receives support from well-known names like Deadmau5, one of the highest-paid electronic music producers in the world, Adam Golberg, MD and co-founder of Stanford Crypto and Bing Gordon, a video game executive and technology venture capitalist.
The Audius project was created for fans and artists, helping overcome many of the issues for content creators in the music industry and giving free access to music fans.
“Unleash your music. Discover and stream up-and-coming artists.” – Audius website
What Is Audius (AUDIO)?
The Audius (AUDIO) platform is a music streaming protocol built initially on the POA Network (an Ethereum-based platform offering an open-source framework for smart contracts) but is now based on the Solana network. The Audius protocol is decentralized and created to address age-old music industry issues, especially concerning music rights ownership. Audius seeks to cut out the middle man so artists can connect with their audience without censorship or interference.
The native token $ AUDIO powers the Audius platform. It enables artists to upload music content and store and distribute it via content and discovery modes. Fans can listen to the music for free, and content creators receive rewards from Audius, such as listings on the weekly trending content lists.
Audius has plans to enable artists to provide paid content by integrating stablecoins and issuing artists tokens to offer their fans exclusive access to their content.
You can download the Audius app from the website for on-the-go streaming music.
What Makes Audius (AUDIO) Unique?
There are zero fees for artists to publish content on the Audius ledger. The music streams at comparable rates to the likes of Google Play and Spotify, at 320kbps.
On most streaming music platforms, content creators can experience copyright issues. Because of the decentralized nature of the Audius platform, it has no copyright protection, but it is working on an arbitrary system monitored by the Audius community.
Artists can stake $AUDIO and participate in reward projects where tokens are airdropped to artists with the greatest popularity.
Audius plans include an option for fans to stake $AUDIO to help artists’ succeed and grow on the platform. Artists can elect to have more control over their content distribution by running their own content nodes if they wish. The Audius content ledger records all transactions.
The Audius website is simple, colorful and a bit funky. There is ample music choice for fans.
- Trending playlists – Audius chosen best music
- Underground trending – Your favorite tracks in one place
- Heavy rotation – your top tracks
- Let them DJ – access to other user’s playlists
- Best new releases – from the artists you follow
- Under the radar – music tracks you may have missed
- Top albums – from the entire Audius platform
- Most loved – Tracks on favorite lists of people you follow
- Feeling lucky – random tracks suggested by Audius
- Playlists to fit your mood – Chill, Upbeat, Intense, Provoking or intimate music
“Giving everyone the freedom to distribute, monetize, and stream unstoppable audio.” – Audius website.
How Audius Works
Content nodes – store and transmit the audio content streamed on the Audius music platform.
Discovery nodes – used for indexing and hashing Audius site data like playlists, user data etc.
When artists upload tracks to the Audius platform, it goes to a content node. It’s then transcoded and issued with a reference code for identification. The data is replicated to two more network content nodes where an on-chain transaction is published. This stage signifies that the track exists on the Audius platform, and relevant metadata is attached to the artist’s profile.
Then the transaction is indexed by a Discovery Node, which marks the completion of the upload.
On centralized music streaming platforms, artists are not the true owners of their work. The operating company has control, and if it went bust, the content database would disappear.
“With Audius, the track is maintained by the network and controlled by third-party and decentralized node operators. Audius is not dependent on one company to keep running.” Audius website. Retaining control of their work and growing a fan base is essential for artists—the Audius platform ticks all the boxes for appealing to content creators and music fans across the globe.
When you stake $AUDIO, you’re helping secure and power the Audius protocol.
How and Where to Buy Audius (AUDIO)?
Binance is an established, secure and trusted cryptocurrency exchange. The fiat currency funding options make purchasing $AUDIO tokens a relatively fast, seamless and stress-free experience.
- Register for an account with Binance – verify your account for security purposes
- Go to “Deposit Fiat” – Binance provides several fiat currency options
- Choose deposit options – Visa and Mastercard fees are 1.8% or choose Advcash, which supports SEPA transfers
- Open the exchange tab – look for AUDIO/USDT, AUDIO/BUSD or AUDIO/BTC and make your purchase
- Store your $AUDIO tokens – Binance has an exchange wallet, or you can choose an off-ramp cold storage wallet to secure your $AUDIO holdings
How do I Sell Audius (AUDIO)?
It’s easy to sell your $AUDIO tokens on the Binance exchange: –
- Sell your $AUDIO holdings for a stablecoin like $USDC
- Transfer the $USDC to a reputable off-ramp platform like Coinbase, Gemini or Kraken
- When the transfer has completed, convert the $USDC in your Coinbase, Gemini or Kraken account to fiat currency and withdraw to your bank account. You can then enjoy the profits you’ve (hopefully) made on your $AUDIO investment
Should I Buy Audius (AUDIO)?
Gate.io has a cold storage wallet called the ‘S1’ and an exchange wallet.
KuCoin has a custodial and non-custodial wallet. BitStamp does not offer a wallet, but you can choose an off-ramp wallet to store your $AUDIO tokens.
How do I Invest in Audius (AUDIO)?
If you wish to invest in Audius (AUDIO), purchase from an established crypto exchange like Binance.
You can also buy $AUDIO tokens from the below reputable cryptocurrency exchanges: –