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Will Audius be the Next Spotify?

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Introduction

Nowadays, advanced technology has made it possible for everyone to showcase their talent in front of the whole world without hassle. The Internet also provides you with a platform where you can gain fame and recognition within no time. For both these purposes, you just need three basic things: incomparable talent, correct stage, and proper strategy. While skill and strategy rely entirely on you, finding the right platform has become easy with Audius.

Don’t worry if you haven’t heard the name Audius before. We have collected all the information about this new title in the music industry. So you will be able to see how it can change your life. Let’s get into the details.

What Is Audius?

If you are aware of the concept of Ethereum, that runs the cryptocurrency Ether, it will be convenient for you to understand Audius. Ethereum has used its blockchain-based set up to provide this music streaming service to everyone in the world. Audius promotes its motto that states, “We give everyone the freedom to share and listen.”

Basically, Audius is a music streaming platform that runs on blockchain and provides ample opportunities to everyone who wishes to share their music with the world. This means it has eliminated the hassle and process of indulging with major labels and corporations for music production. Therefore, artists can share their music with their intended audience without any middlemen.

How Does Audius Work?

Audius seems to work the same way as Spotify or SoundCloud. A few steps involved in using this platform include:

Buying Tokens: There is a concept of Audius Tokens that both artists and listeners should be aware of. Being a user, you can either spend money to buy these tokens or earn them just by listening to the ads.

Spend and Listen: Once you have tokens in your wallet, you can use them to listen to your favorite music. For each song that you listen to, a fraction of a cent will get cut from the total amount.

That was from the perspective of the listeners. When we talk about the artists, they will get approximately 85% of the entire money earned on their music. This percentage is higher than almost all similar apps that offer a maximum of 70% cut.

The remaining 15% of the amount will be given to the following people:

  • Song host
  • Audius developers
  • Other associated people

What Is The Benefit Of Audius?

The primary benefit of Audius is that artists can conveniently showcase their talent to the world, while listeners can get a chance to explore more diverse music. However, this isn’t the only perk of this platform.

When we talk about the music industry, most artists often get stuck between corporations and big labels. Most of the earnings on music are taken by these middlemen, leaving a minimal cut for the artists. But with the help of Audius, they can get almost 85% of the total revenue generated by their song. Hence, they will get paid well for their efforts and talent.

All in all, Audius is an excellent initiative by Ethereum because it will be beneficial for both artists and listeners. So there won’t be any hassle or complications associated with producing some quality music.

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