Crypto-Powered Audius Airdrops $8M Worth of Tokens to Artists and Listeners

Crypto-Powered Audius Airdrops $8M Worth of Tokens to Artists and Listeners

By Abhimanyu Krishnan | News | 27 Oct 2020


Blockchain-based music platform Audius celebrated the launch of its AUDIO token on the mainnet by airdropping $8 million worth of the token to artists and listeners on its platform on October 23. 

  • The team airdropped 50 million AUDIO tokens to 10,000 artists and fans, which is 5% of the initial 1 billion supply
  • Users can currently use claimed AUDIO to gain access to an exclusive Discord channel, as well as for staking
  • 75% of the tokens have been issued to artists, with popularity metrics such as follower metrics and reports further determining the distribution among artists
  • AUDIO serves as a governance token that artists and fans can use to govern the protocol
  • Similar to Spotify, Audius hopes to remove intermediaries in the music industry and create a more equitable revenue distribution model
  • It has gained attention for its backers, which include Deadmau5 and RAC; Binance Labs also led an $1.25 investment extension round on October 23
  • The platform has over 750,000 monthly active users and has generated more than one million streams; the team plans to integrate stablecoins in the future
  • The AUDIO token is currently trading for $0.160

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


News
News

Official Publish0x Crypto News Channel

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.