Audius wants to revolutionize the music market

Audius has sent as much as $8 million in tokens to its users as part of its airdrop campaign. What is the [...] https://www.pinterest.com/pin/1085437947660215829/

Audius has sent as much as $8 million in tokens to its users as part of its airdrop campaign. What is the initiative about? Audius sends out tokens Audius can be considered the equivalent of Spotify in the blockchain world. Now the project has distributed 50 million native AUDIO tokens across its network to artists and listeners. The distribution came with the launch of the tokens on Audiius' core network. The startup added that 5 percent of the initial token supply went to the "top 10,000 artists and fans." Audius seeks to reward music creators and listeners in this way, thus giving them a say in the future, so to speak, on how the protocol will evolve in the years to come. The project envisions using blockchain technology to increase transparency and reduce the number of middlemen throughout the music supply chain. However, the native token currently has only two uses: it allows holders access to an exclusive Discord channel and it can be stake in the blockchain (currently 1.4 million AUDIOs are involved). How does the Audius network work? The algorithm that determines token distribution strongly favors artists over listeners, with the majority of tokens allocated to creators based on the amount of interest they generate for a project. In contrast, as much as 40.6 percent of the token supply was allocated to the Audius team and the project advisors who were involved in its creation. In its white paper, Audius criticizes, as it were, and it's worth adding, the existing dominant centralized music distribution structures in the industry (it follows that it's all about Spotify, for example), and says it's trying to use blockchain technology to generate larger reward payments to the creators themselves. The idea is also to bring more transparency to musician payouts, publishing rights structures and other licensing issues common in this entertainment sector. Since the platform's launch, which took place last September, Audius has attracted more than 750,000 monthly active users. The platform intends to support third-party stablecoins in the future. Audius also plans to make it easier for content creators to issue Ethereum (ETH)-based "performer tokens" and offer fans other such unique tools. Tags Audius Blockchain tokens