A blockchain-powered streaming startup that has been dubbed a Spotify rival has already attracted some big names including artists like Jason Derulo, Katy Perry, and others.
The startup is known as Audius and they've been successful so far in raising millions of dollars from investors.
There are a variety of artists that are already backing the streaming startup and they've got millions of active users already listening to the service too.
“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.” - Nas in the statement on the new platform.
The company is only a few years old and already is generating quite a buzz as being a potential disruptor for Spotify and other competitors in the market.
The blockchain is going to enable new revenue streams for those artists and those earnings are going to be able to move in real time.
Is Audius going to be the future of music streaming?
There are millions of active users using the streaming service already and thousands of artists on the platform too. There is still a lot of potential for growth for this market and this new startup.
Sources:
https://musically.com/2021/09/16/audius-raises-5m-from-investors-including-katy-perry-and-nas/
https://www.rollingstone.com/pro/news/audius-blockchain-nft-crypto-streaming-platform-1226559/
https://www.moneycontrol.com/news/business/cryptocurrency/katy-perry-nas-jason-derulo-invest-big-in-crypto-music-platform-audius-7476121.html
not financial advice.