Spotify might soon have a legitimate contender in the digital streaming space.
Audius is a decentralized, open-source platform that enables musicians to easily upload their music and securely store and manage it, allowing them to gain direct access to their fans and listeners.
The Wall Street Journal even highlighted the blockchain-based streaming service in a recent article about the possible downfall of Spotify and who might replace them:
You can read the full article here: https://t.co/YyG3asCl3e
— Audius 🎧 (@AudiusProject) December 21, 2022
Beyond it’s higher payment structure for artists and contributors, Audius’ primary differentiator is its decentralization, meaning users users can access the platform without the need for a corporate overlord. This opens up the platform to a wider variety of users, as they can connect without relying on a third-party to manage their data. This also makes it resistant to censorship, as there is no single entity exerting control over the data.
The ability for musicians to maintain control over their music is a huge benefit of the platform. Musicians are able to manage the rights to their work, giving them the ability to decide who can stream and distribute their music. This means that musicians can easily monetise their music and create a sustainable income from it, without the need to sign contracts with traditional music labels.
Audius also offers several other features that make it an attractive platform for both musicians and music listeners. It offers an AI-powered algorithm for curating music for users, allowing them to discover new music easily. It also has a social platform that allows users to connect with other users and discover their music. This helps to promote collaboration between artists and create a vibrant community.
Have you used Audius yet?
What do you think about the platform?