Audius, a decentralized music-streaming service backed by Katy Perry and popular musicis, has built an FM radio tower on a blockchain-based site. It integrates its library of music on the gaming platform.
Gamers on the Defi Land platform can play millions of songs on music from Audius during their time of learning about decentralized finance on the play-to-earn platform. The move shifts more focus to the tokenized music that Audius run. The music platform is considered a rival to spotify according to Rolling Stone Magazine.
The streaming platform allows users to upload their musics. This gives artists a new opportunity to make income from streaming. According to Audius, the platform has reached over 6 million users a month and is run by a community of artists, fans and developers.
Its audio token has surged by 932% in 2021 and the crypto is currently trading at around $1.60.
The popular singer Katy Perry, Nas, and The Chainsmokers contributed to a $5 million fundraising round for Audius.Saxo Bank’s cryptocurrency analyst Mads Eberhardt this month said labels and streaming platforms capture 75%-95% of revenue paid for listening to streamed music.
