Audius Price

Audius (AUDIO) is a cryptocurrency that powers an advanced decentralized music streaming protocol. Based on a public blockchain infrastructure and other decentralized technologies, it aims to revolutionize the music industry by giving artists more control over their music and enabling them to distribute their music to their fans and be paid directly by them.

Audius' revolutionary protocol gives artists control over their music again and allows them to distribute their works directly to their fans and be compensated by them. However, Audius goes beyond mere monetary transactions. Its unique ecosystem features a variety of technical intricacies that make it a pioneer in how music is shared, consumed, and monetized.

The $AUDIO token is central to Audius and fuels the entire platform. With this token, artists can not only sell their music but also retain complete control over the use and distribution of their works. The AUDIO token is the engine of an innovative token economy that allows artists to fully express their artistic vision while building a direct relationship with their fans.

Audius comprises several key components that work together to create a decentralized music streaming ecosystem:

Token Economy

Audius has its own platform token called AUDIO, which is used for various purposes, including incentivizing artists, node operators, and users, as well as for governance and network upgrades. Audius supports stablecoins and third-party artist tokens, providing flexibility and interoperability within the ecosystem.

Decentralized Storage

Audius uses a decentralized storage solution and ledger to exchange audio files and metadata. This allows artists to securely store their music in a decentralized manner, to ensure it is always available and cannot be censored or controlled by a single entity.

Encryption

Audius uses a unique track encryption scheme and a programmable mechanism for unlocking user-specific proxy re-encryption keys for content. This ensures the music remains encrypted and secure while authorized users can access it with the necessary keys.

Discovery

Audius’s discovery protocol allows users to efficiently query metadata, making it easier to discover new music and artists within the ecosystem. This will enable artists to gain more attention and reach a wider audience while users can discover unique and diverse content.

Governance

Audius has a decentralized governance protocol that involves artists, node operators, and fans in decision-making about protocol changes and extensions. This ensures that the community has a say in the development and evolution of the protocol, making it truly decentralized and community-driven.

In 2018, Audius was founded by a remarkable group of entrepreneurs and technologists with deep insights into artists’ challenges in the traditional music industry. Its founder duo consists of Roneil Rumburg and Forrest Browning, two visionary minds who combined their talents and passions to create something revolutionary.

Roneil Rumburg, a graduate of the prestigious Stanford University, co-founded Kleiner Perkins, an early-stage investment fund that invests in blockchain and AI companies. His entrepreneurial spirit made him a key figure in the development of Audius. Forrest Browning, also a graduate of Stanford University and recipient of the Forbes 30 Under 30 award, brings his knowledge of technology and experience as co-founder of StacksWare, an enterprise data center management platform, to the team.

Supporters of the project include deadmau5, a well-known producer of electronic music. Adam Goldberg, co-founder and managing director of Stanford Crypto, also brings his extensive expertise in the blockchain and cryptocurrency industry, strengthening the foundations of Audius. Bing Gordon, co-founder of EA Games, one of the world’s most successful video game companies, brings his extensive experience in the digital entertainment industry and supports Audius in expanding its reach.