Audius to enable users to tip their favorite artists via Audio Token

Audius to enable users to tip their favorite artists via Audio Token

Audius, a Web3 music streaming service, is looking to allow listeners to send tips to artists for monetizing their content. With the Audius platform’s governance token, AUDIO, users will be able to send tips to any artist who is willing to publish their music on the platform, even if they have a small following or a large one.

Audius, a platform serving around seven million listeners and 250,000 artists, comprises artists who wish to share their most unique content with the largest fans on the blockchain.

Now, it is driving the platform on the path of creator monetization for supporting artists in new ways, said Roneil Rumburg, Audius CEO and co-founder.

Forrest Browning, Co-Founder, and Chief Product Officer, Audius, said that the firm is not trying to attract 100% of someone’s fan base from a different platform. Instead, it is trying to rope in the most engaged top 10 superfans, the ones who intend to tip their beloved artists.

Earlier, Audius had unveiled audio rewards for users to earn tokens by following artists, uploading songs, or creating playlists. Fans can now use these tokens to send tips to artists or connect with an exterior crypto wallet.

Audius is also planning to empower tipping in fiat currency via credit cards in the coming months, as per Browning.

But tipping will not be one-sided, the artist will be able to react to fans’ tips with emojis to express their thanks, and the guidance provided by the fans will be displayed in their profile, as well as on the public leaderboard for artists’ biggest tippers.

Audius, built on the Ethereum and Solana chains, has constantly been advancing in the Web3 music scene.

In December, the platform collaborated with crypto game DeFi Land to build a radio station in the metaverse. In September, the platform also secured $5 million from musicians The Chainsmokers, Katy Perry, and Pusha T.

Source Credit - https://www.coindesk.com/business/2022/07/19/blockchain-music-service-audius-to-allow-users-to-tip-artists-using-audio/