Blockchain-Based Streaming Service Audius Closes $5 Million Round Of Funding Backed By The Chainsmokers, Aoki, And More

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audius streaming service

Audius, is a cryptocurrency-powered streaming platform that recently closed a massive $5 million round of funding.

With not just monetary support but also an endorsement for the blockchain-based streaming service, big names from the world of music like The Chainsmokers, X, Disclosure and, many more have shown their support.

Audius allows artists to own a greater part of the revenue share and receive payments much faster than traditional systems because they no longer need to rely on middlemen, labels or distributors. The platform’s unique decentralized infrastructure offers creators a censorship-proof, direct-to-consumer experience.

Speaking about the importance of cryptocurrency in the world of music and the perks of using a streaming platform like Audius, NY based rapper Nas said, “I’ve known that blockchain will change the world since I invested in Coinbase five years ago and I believe it might be the most important technology to ever hit the music industry. Everyone who uploads to Audius can be an owner, you can’t say that about any other platform.”

To learn more about how the platform works or to download the player, head here.

H/T – EDM.com

Melody Siganporia
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