Audio Coin: A Smart Investment Move?

Audius (AUDIO) is a decentralised music streaming protocol that uses blockchain technology to connect music listeners and creators. It allows artists to upload their music to the network, which is then streamed by nodes to listeners through a mobile app. AUDIO is the native token for the platform and is used for staking, governance, and incentivised earnings for artists, fans, and node operators. Artists can freely post their tracks, and fans can listen to them for free, all while earning cryptocurrency. Audius faces major competition from Spotify and Apple Music, but it aims to improve upon the models that other music streaming services have created. So, is Audius a good investment?

Audius (AUDIO) price predictions

As of August 2024, the current price of Audius is 0.120 USD, with a 24-hour trading volume of $18,895,221 USD. The live market cap is $184,221,931 USD, with a circulating supply of 1,253,616,147 AUDIO coins. The total supply of AUDIO is 1 billion tokens, with a yearly inflation rate of 7%.

Audius is a decentralised music streaming protocol that connects artists, content creators, and listeners. It is built on blockchain technology, allowing listeners to directly pay creators and removing the middleman.

Audius has seen a declining trend over the past year, with its price dropping from highs of over $4.00 in March 2021 to its current price of around $0.120. However, some sources still believe it to be a good investment.

According to WalletInvestor, the Audius price will grow from $1.342 to $3.500 in one year, with a long-term earning potential of 160.80%. TradingBeasts also answers in the affirmative when asking if Audius is a good investment. They predict the coin price to reach $1.37656 in 2022 and grow to $1.59601 by the end of 2023. DigitalCoin analysis forecasts the price of Audius to rise in the next five years, starting from $1.6471666 today to $6.9799957. It is expected to go up to $2.4533045 by 2023 and continue its growth in 2024-2025, making it a profitable long-term investment.

However, it is important to note that Audius faces major competition from well-established companies like Spotify and Apple Music, which are already giants in the music industry.

To purchase Audius, you can follow these steps:

• Open an online account on an exchange like FTX (if outside the U.S.) or Crypto.com (if in the U.S.).
• (Optional) Buy a wallet, such as the Ledger hardware wallet, to store your crypto securely.
• Make your purchase on the exchange or use the "Swap" feature if you have a wallet.

It is also recommended to keep an eye on music artists that use the Audius platform, as support from a well-known artist could significantly impact the price.

AUDIO's competition

Audius (AUDIO) faces major competition from existing music streaming services, including Spotify and Apple Music. These platforms have a strong foothold in the industry and a large user base. However, Audius aims to address some of the issues presented by these traditional streaming services.

One of the key issues that Audius seeks to resolve is payment distribution. On major streaming platforms, artists often receive only a small percentage of the total revenue, with estimates suggesting that only 12% reaches the creators. Audius, on the other hand, aims to provide creators with 90% of the total revenue, significantly improving the payment system for artists.

Another advantage that Audius offers is the ability to connect artists and fans more directly. In addition to allowing fans to pay artists directly, Audius also offers remix competitions, where fans can remix their favourite songs and showcase their work to the artists. This feature enhances fan engagement and interaction with artists, creating a more involved community.

The Audius ecosystem is comprised of four main participants: artists, fans, content nodes, and discovery nodes. Artists can publish content on the Audius content ledger for free, and their music is streamed at a quality comparable to Spotify and Google Play Music. Fans can listen to tracks for free and may have the opportunity to stake AUDIO to participate in artists' growth on the platform. Content nodes ensure the availability of content, while discovery nodes enable users to find new content through metadata queries.

While Audius faces stiff competition from established players in the music streaming market, it offers unique features and a decentralised approach that could attract users seeking a more equitable and engaging music streaming experience.

AUDIO's unique value proposition

Audius (AUDIO) is a decentralised music streaming protocol that aims to connect music listeners and creators. It allows listeners to stream and distribute music using blockchain technology and pay creators directly.

The music industry is worth billions of dollars a year, and Audius is looking to introduce crypto technology into this industry. AUDIO is an ERC-20 governance token that powers the Audius protocol. It is built on an Ethereum-compatible blockchain and allows token holders to vote on new projects and have a say in the platform's future.

A unique aspect of Audius is its focus on empowering artists and ensuring they receive fair compensation for their work. On major streaming platforms, artists often receive only a small percentage of the total revenue. Audius, on the other hand, aims to provide creators with 90% of their total revenue, with the remaining 10% going towards network support. This equitable payment system could be a significant drawcard for artists.

Audius also offers artists and fans multiple ways to engage and connect. In addition to allowing fans to pay artists directly, it also hosts remix competitions, where fans can remix their favourite songs and showcase their work to artists.

The Audius ecosystem consists of four main participants: artists, fans, content nodes, and discovery nodes. Artists can upload their music to the Audius content ledger for free, and it is then streamed to listeners through a mobile app. The content nodes ensure the availability of this content, while the discovery nodes enable users to find new content through metadata.

Audius also has a native AUDIO token, which serves multiple purposes. It can be used by listeners to pay artists directly, removing the middleman and ensuring artists receive a larger share of the revenue. Token holders can also stake their tokens to support the network and earn rewards, such as exclusive content or collectibles. Additionally, the tokens can be used as collateral for value-added services and provide governance weight, allowing holders to influence the platform's future direction.

Audius's decentralised nature also offers benefits to artists, particularly those from oppressive regimes. The lack of centralised authority means artists can use the platform to perform and share their music safely, without censorship.

In summary, Audius (AUDIO) offers a unique value proposition by combining music streaming with blockchain technology. It empowers artists by offering fair compensation and direct connections with fans, while also providing listeners with a platform to discover and support their favourite creators. The native AUDIO token has multiple use cases and provides holders with voting rights and the ability to earn rewards.

How to buy AUDIO

AUDIO is the native token of Audius, a decentralised music streaming protocol. Here is a step-by-step guide on how to buy it:

Step 1: Register on a Fiat-to-Crypto Exchange

You will first need to buy Bitcoin (BTC) on a fiat-to-crypto exchange such as Uphold or Coinbase. You will need to set up an account with an email address and strong password. You will also need to provide personal details and verify your identity.

Step 2: Buy BTC with Fiat Money

On the exchange, you can purchase BTC with a credit/debit card or via bank transfer. With a card, purchases are instant but fees are higher. Bank transfers are cheaper but slower.

Step 3: Transfer BTC to an Altcoin Exchange

Since AUDIO is an altcoin, you will need to transfer your BTC to an exchange such as Gate.io, BitMart, KuCoin, MXC, BitForex, Binance, HotBit, or Poloniex, where AUDIO can be traded.

Step 4: Deposit BTC to Exchange

Find your BTC wallet address on the new exchange and copy it. Then head back to your Fiat-to-Crypto exchange, enter the amount of BTC you want to send, paste the wallet address, review, and confirm.

Step 5: Buy AUDIO

Once your BTC arrives, go to the exchange page, and find the AUDIO/BTC pair. Then, choose the amount of BTC you want to spend and confirm your purchase.

Step 6: Store AUDIO Securely in a Hardware Wallet (Optional)

To keep your AUDIO secure, you can store it in a hardware wallet such as Ledger Nano S or X.

AUDIO's future

Audius (AUDIO) is a decentralised music streaming protocol that uses blockchain technology to connect music listeners and creators. It aims to address the inefficiencies of the music industry, such as opaque music rights ownership and intermediaries between artists and their audience. Artists can upload their music to the Audius network, which is then streamed by nodes to listeners through a mobile app.

The future of AUDIO is determined by its governance, as it is a platform owned and operated by its users. The voting weight of $AUDIO staked for value-added services is directly correlated to the voting weight of $AUDIO. The Audius ecosystem consists of artists, fans, content nodes, and discovery nodes. Artists can upload content to the Audius content ledger for free, and their music is streamed at 320kbps, comparable to Spotify and Google Play Music. Fans can listen to tracks for free and may be able to stake AUDIO to participate in artists' growth on the platform. Content nodes maintain the availability of content on AudSP, the platform-native extension to IPFS, while discovery nodes enable users to find new content through metadata.

Audius also allows listeners to directly pay creators, removing the middleman that other platforms use when paying artists. It is built on an Ethereum-compatible blockchain and is an ERC-20 governance token. Holders of the token can stake their position to support the network and earn rewards in the form of exclusive content or collectibles. The token can be purchased on Crypto.com and FTX, and stored in wallets such as Ledger, which offer more security than online exchanges.

In terms of price predictions, some analysts believe that Audius has the potential to reach $5 in the near future. However, it is important to note that predicting anything in the cryptocurrency market is challenging. As of August 2023, the Audius price prediction for 2023 was $0.50, with the current price indicating that AUDIO has a long way to go to reach its goal. The community power of Audius is expected to lead its price to new highs in the future.

Frequently asked questions