How blockchain technology is shaping the music industry
The world is evolving fast as well as the technology behind the music industry. In this field, blockchain is running the show thanks to its incredible features such as NFT, smart contracts, and more. A lot are the players that are pushing the boundaries in this incredible field but, in this article, we want to focus on two of them: Audius and Revelator.
Audius, the digital streaming service built on the blockchain.
Audius is a digital streaming service that connects fans with artists as well as exclusive new music. It accomplishes this by being completely decentralized: Audius is owned and operated by a thriving open-source community of artists, fans, and developers from all over the world. Audius empowers artists to share never-before-heard music and directly monetize streams. Audius allows developers to build their own apps on top of it, giving them access to one of the most unique audio catalogs available.
Audius was founded in 2018 and serves millions of users each month, making it one of the largest crypto applications ever built. It is backed by an all-star team of investors.
Audius has 7 million monthly active users, making it the largest consumer blockchain app.
Audius, a decentralized music app, now has five million users, making it one of the first truly successful consumer-facing Web3 apps. Audius has seen consistent organic growth since its launch in 2018, thanks to community-driven marketing.
Blockchain can do really amazing things for music. It can improve music fans’ experience and guarantee artists’ control over their valuable work. We have worked to create a strong, engaged community and an easy-to-navigate interface, and that’s what’s attracted and kept fans and musicians on Audius. – Roneil Rumburg, Audius co-founder and CEO
Because Audius is a decentralized protocol, every user is also an owner. The utility token from Audius provides these owners with clear ways to influence and change the service to meet their needs. As a result, Audius has become a popular place for tech-loving artists such as deadmau5 and 3LAU to experiment, but it has also provided a much-needed haven for specialized scenes and cross-genre exploration, music that is frequently underserved by existing streaming music services and platforms. What happens and what takes off is determined by the community, which has grown to 7 million members.
The first streaming service to integrate with TikTok Sound Kit.
In August Audius has been the first DSP to launch with TikTok Sound Kit. Audius’ 100,000+ artists are now just one click away from reaching TikTok’s estimated 1 billion users. The entire process, which consists of simply uploading a track and clicking “Share to Tiktok,” takes under a minute. Tracks can then be played behind their own videos and chosen by the entire TikTok user community.
Audius Co-Founder Roneil Rumburg is named a member of the Forbes 30 Under 30 list for Finance.