Audius is a decentralized music-sharing and streaming protocol that facilitates direct transactions between listeners and creators, giving everyone the freedom to distribute, monetize, and stream any audio content. The platform aims to bypass traditional music industry intermediaries and give more control and revenue back to artists.
Built using blockchain technology, Audius was designed to be fully decentralized, meaning no single entity controls the network. It’s operated by a diverse group of parties in the music industry, including listeners, artists, and developers. In a nutshell, the goal of Audius is to create a fair, open, and decentralized system for the music industry.
The platform uses AUDIO tokens to facilitate its decentralized governance system. Users, artists, and nodes (servers that host content) can stake AUDIO tokens to gain voting rights in the platform’s governance decisions. Moreover, token holders can also receive a proportion of the platform’s revenue.