Blockchain Music Platform Audius Becomes TikTok’s First Streaming Partner
Audius has partnered with TikTok on the app’s new “TikTok Sounds” library feature. According to an announcement released today, Audius users would now be able to share tracks to the popular app directly.
Users Could Win AUDIO Tokens
The partnership between Audius and Tiktok would help artists reach a larger audience. With Audius being a TikTok partner for the Sound Kit functionality, songs on the Audius platform can now be transferred seamlessly into the video-sharing app. With the feature, artists who have songs on Audius can also make them available for TikTok users.
To promote this feature, Audius allows users to win 50 AUDIO tokens, the native utility assets of the Audius platform. TikTok users stand the chance of winning this prize when they use an Audius track in their videos.
Audius's partnership with TikTok is important because of the massive audience the social media app has. TikTok reportedly has a billion active users. It had 732 million global monthly active users as of October 2020, and that figure has likely climbed up since then.
The TikTok and Audius partnership comes after the social media app banned cryptocurrency-based promotional content on its platform. Tiktok updated its branded content policy last month, prohibiting users from posting any promotional content on cryptocurrency and forex.
The AUDIO token is currently trading at $3.26, up 93.96% in the last 24 hours.
Audius Pushing Initiatives For Artists
Audius is a decentralized music-sharing and streaming protocol that facilitates direct transactions between listeners and creators. The platform gives everyone the freedom to distribute, monetize, and stream any audio content.
Although the network is a streaming platform based on the Ethereum and Solana blockchains, it focuses more on pushing music than crypto, as seen in its recent partnerships. The new initiative with TikTok appears to be more about music rather than pushing cryptocurrency or decentralized finance (DeFi).
According to co-founder and chief product officer Forrest Browning in a Rolling Stone interview, roughly 95% of Audius users have no idea that blockchain is even involved.
Last month, Audius announced a partnership with Metaplex and Solana foundation to use the Solana Creator Fund to attract new artists to its platform. The $5 million fund is focused on helping creators launch new works in frontier categories like music streaming, NFTs, and The Metaverse.
Founded in 2008, Audius currently has about 5 million monthly active users, according to an announcement released earlier this month. The platform boasts of over 100,000 musicians, including Skrillex and deadmau5.
Audius allocates AUDIO tokens to musicians based on the number of streams they generate. The platform also makes it possible for creators to set their rules regarding monetization instead of paying them directly. Creators use the AUDIO tokens for yield earning through staking.