Audius is a blockchain project that is disrupting the music streaming industry.
Audius is an Ethereum-enabled music distribution service that takes aim at recognized startups such as SoundCloud and Spotify. Its creators hope that offering a more attractive deal for musicians should help Audius build a stable of musicians so strong that users will come in droves.
Its price exploded in August after the company announced a major deal with TikTok, the social media sensation. As part of the deal, artists using Audius will have their music available on TikTok’s platform that has hundreds of millions of customers. This was notable since Audius already has more than 100k artists on its platform and more than 5 million users.
How Does AUDIUS work?
The protocol consists of:
- Discovery nodes that index the Audius content ledger and provide an easily query-able interface for retrieving metadata;
- Content nodes to host content and permission access to content on behalf of artists;
- Content ledger as a single source of truth for all data accessible within the Audius protocol, anchoring references to content hosted by content nodes;
AUDIO is the native utility token for:
- Participating in protocol governance voting
- Staking for running discovery or content nodes so users will get a share of network fees
- Staking to unlock features like artist tokens and badges and receive voting power from fans
Unlike Spotify or SoundCloud, which are not blockchain-based, Audius is built on the Ethereum and Solana blockchains and is run by a community of token holders, rather than one centralized entity.
To become a token holder, users can either buy AUDIO, the native governance token of Audius, or earn it. Top artists and active users may earn AUDIO tokens as rewards, for example.
Token holders can vote on and have control over decisions made, similar to shareholders who own certain stocks.
Audius launched its mainnet service in October 2020 with a livestreamed concert featuring deadmau5 and RAC.
AUDIO Price Prediction For The Next 90 Days
The whole crypto world is on a verge of a complete breakdown. Bitcoin has fallen 75% from its all-time high amid broader market declines caused by raging inflation and US Fed rate hikes. When add the most recent melt-downs of huge industry players (FTX, Celsius, Luna etc) into the equation, the horizont is murky and there will be more blood on the streets of the crypto town. Investors are selling risky assets and moving into more stable markets. Crypto is still perceived as a very risky play and hence the sell off. Our algo still sees a some green in 2023, especially in the second part of the year. This is reflected in our 2023 predictions. Right now, Bitcoin needs to find a bottom before we can move in the opposite direction and reverse the trend. Once Bitcoin settles in the new price range, altcoins will start to do the same - we have witnessed this scenario dozens of times in the distant and more recent history. Our price prediction model is bearish for the next 90 days with a hint of a bull market at the turn of the quarters from Q1 to Q2. We expect whales and other bigger players in the market to finish filling their bags around that time which will cause a typical and sudden crypto spike. CaptainAltcoin team created a price prediction model with a multi-faceted approach to crypto that takes into account both technical analysis and fundamental assessment of each project. Fundamentals that we evaluate are team, tokenomics, use case, community, marketing efforts, liquidity and exchange availability, hype & speculative potential and some other proprietary factors developed in our crypto lab.
Below is a tabular overview of how will Audius develop in the short-term (for the next 90 days), according to our prediction model:
Audius Price Prediction 2022
Our prediction model sees a temporary switch to a bear market at the beginning of 2022 before we move onto another leg up in Q3 & Q4 of 2022.
Audius Price Prediction 2025 – 2030 – 2040
Our prediction model sees AUDIO reaching new highs in 2025, landing in the $60-$70 per token rang.
Audius price in 2030 & 2040 should be a couple of orders of magnitude higher than our 2025 prediction.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com