Audius Coin: Worthy Investment Or Just Noise?

Audius (AUDIO) is a decentralised music streaming protocol that allows listeners to stream and distribute music using blockchain technology. It also allows listeners to pay creators directly, cutting out the middleman. The Audius project was founded in 2018 by Roneil Rumburg and Forrest Browning, two California-based entrepreneurs. The platform is powered by its native AUDIO token, which is used for staking, governance, and incentivised earnings for artists, fans, and node operators. The current live Audius price is $0.146952 USD, with a 24-hour trading volume of $18,895,221 USD. In this paragraph, we will explore whether Audius coin is a good investment.

Audius' unique selling points

Audius (AUDIO) is a decentralised music streaming service that empowers artists by giving them ownership of their content. Here are some of Audius's unique selling points:

Unique operational model

Audius flips the script on how most streaming services pay their artists. Instead of a small cut of every play received, Audius gives content creators the lion's share of any profits. Audius aims to provide creators with 90% of their total revenue, with the remaining 10% going towards network support.

Future-driven design

The platform uses its native Audio token, special "artist tokens", and third-party stablecoins. This gives users a range of different monetary pathways to engage with the platform.

Fast and efficient

Audius allows artists to share their audio files with their fans quickly and efficiently. It also makes it easy for users to perform metadata queries.

Solid governance

Audius uses a decentralised governance protocol, allowing artists, fans, and node operators to implement changes to the platform's operational framework.

Financial incentives

Every action within the ecosystem is incentivised. For example, simple activities like creating playlists and track sharing earn users Audio tokens that can later be redeemed for various rewards.

Audius' competition

Audius Competition

Audius (AUDIO) is a blockchain-based music streaming platform that aims to address the inefficiencies of the music industry, such as opaque music rights ownership and intermediaries between artists and their audience. However, it is not the only player in the music streaming market and faces competition from established companies. Here is an overview of Audius' competition:

Spotify and Apple Music:

Spotify and Apple Music are two of the largest and most well-known music streaming services in the world. They have a significant head start in the market and a large user base. Spotify, for example, reported 165 million paying subscribers. Audius, being a newer platform, will need to compete with these established companies and offer unique features to attract users.

Other music streaming services:

In addition to Spotify and Apple Music, there are other music streaming services that Audius competes with. These include platforms like Amazon Music, YouTube Music, and Tidal. Each of these platforms has its own unique features and content offerings, creating a crowded and competitive market for Audius to navigate.

Centralized music industry:

The music industry, as a whole, can be seen as a competitor to Audius. The industry is known for its centralized nature, with record labels and distribution platforms holding significant power. Audius, being a decentralized platform, offers a different model that gives more control to artists and content creators. However, the established music industry has a strong hold on the market, and Audius will need to work to attract artists and listeners to its platform.

Blockchain-based music platforms:

Audius is not the only blockchain-based music platform in the market. Other projects, such as Musicoin and Songtradr, are also utilizing blockchain technology to create decentralized music streaming and distribution platforms. These platforms offer similar features to Audius, such as transparent royalty distribution and artist control. The competition from these projects shows that there is a growing interest in using blockchain technology to disrupt the music industry.

Traditional payment methods:

Audius also faces competition when it comes to its payment system. The platform utilizes blockchain technology and its native AUDIO token to facilitate direct payments from listeners to creators. However, traditional payment methods, such as credit cards and bank transfers, are still widely used in the music industry. Audius will need to compete with these established payment methods and offer a compelling reason for users to adopt its token-based payment system.

In summary, Audius faces competition from established music streaming services, the centralized music industry, other blockchain-based music platforms, and traditional payment methods. To succeed, Audius will need to differentiate itself, attract users, and navigate the challenges of operating in a crowded and competitive market.

Audius' price history

Audius (AUDIO) is a decentralised music streaming protocol and blockchain technology that allows listeners to stream and distribute music and pay creators directly. It aims to address the inefficiencies of the music industry, such as opaque music rights ownership and intermediaries that stand between artists and their audience.

The Audius ecosystem consists of four main participants: artists, fans, content nodes and discovery nodes. Artists can upload music for free, and fans can listen to tracks without additional charges. Artists can also stake AUDIO tokens to access the protocol's services.

The total supply of AUDIO is 1 billion tokens, with a current circulating supply of 411 million AUDIO. The yearly inflation rate is 7%, and 50 million AUDIO were distributed to the top 10 artists and fans, with 75% going to artists based on the stream count.

The live Audius price today is $0.146952 USD, with a 24-hour trading volume of $18,895,221 USD. Audius is up 10.46% in the last 24 hours. The current market cap is $184,221,931 USD. The highest price paid for Audius since its launch was $4.99.

Audius saw highs of over $4.00 in March 2021 and lows of around $0.10 in early 2021. It is currently trading at around $2.00, with a market cap of around $900 million.

Audius' future price predictions

Audius Future Price Predictions

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

Audius is currently trading at around $0.15 with a market cap of around $184 million. It has seen highs of over $4 in March 2021 and lows of around $0.10 in early 2021.

• According to CoinCodex, the price of Audius is predicted to rise by 227.74% and reach $0.41 by September 21, 2024.
• DigitalCoinPrice predicts that the value of Audius will increase by 247.18%, reaching $0.44 by the end of 2026.
• Wallet Investor predicts that the price of Audius may drop from the current price of $0.19 to $0.06 by 2024.
• According to Benzinga, Audius has the potential to revolutionize the music industry, but it faces major competition from Spotify and Apple Music.

It's important to note that cryptocurrency prices are highly volatile and these predictions should not be considered financial advice.

How to buy Audius tokens

Audius (AUDIO) is a cryptocurrency token that can be purchased on several well-known exchanges. The process of buying Audius tokens is straightforward and can be done in a few simple steps. Here is a detailed guide on how to buy Audius tokens:

Step 1: Choose an Exchange

Select a cryptocurrency exchange that offers Audius tokens. Popular options include Binance, Uniswap (V2), BitStamp, Gate.io, Crypto.com, FTX, Uphold, Paybis, Kraken, KuCoin, and Coinbase. Each exchange may have different features, fees, and restrictions, so be sure to research which one best suits your needs.

Step 2: Create an Account

Once you've chosen an exchange, create an account by providing your email address and verifying your identity. You may need to provide proof of ID and address, depending on the exchange and your location.

Step 3: Fund Your Account

After your account is set up, you'll need to fund it using a payment method accepted by the exchange. Common payment methods include bank transfers, debit cards, credit cards, or other cryptocurrencies such as Bitcoin.

Step 4: Purchase Audius Tokens

Now that your account is funded, you can buy Audius tokens. Navigate to the exchange's trading platform and search for Audius. Choose the currency pair you want to trade (e.g., USDT/AUDIO, ETH/AUDIO), enter the amount you wish to purchase, and execute the trade.

Step 5: Store Your Tokens (Optional)

If you want to hold your Audius tokens for the long term, consider purchasing a crypto wallet for added security. Hardware wallets, such as the Ledger Nano S or Nano X, offer more security than online accounts and allow you to maintain direct ownership of your tokens.

By following these steps, you can easily purchase and start investing in Audius tokens. Remember to always do your own research, understand the risks involved, and only invest what you can afford to lose.

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