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Audius: Meet The Platform Looking To Shake Up The Crypto Music World

Audius, a “new kid on the blockchain”, is looking to shape an entirely new way of music distribution between artist and fans. AudioCoin breaks down the barriers of traditional music financing, directly connecting artists and fans through a transparent, distributed ledger.

Let’s dive in to Audius’ role in music and more on the platform’s native token.

The Get Down: What This Platform & Token Is All About

For those who are familiar with audio platform Soundcloud, you will understand Audius has gained similar comparisons because of its ‘artist-first’ mentality. This approach allowed Soundcloud to birth many successful artists, such as Chance The Rapper, because of the platform’s ability to drive music to fans with minimal label interference. How does this tie into Audius, as well as cryptocurrency more broadly? The platform is using the blockchain to connect sellers and consumers within music in a similar vein as Soundcloud.

Audius also uses the same artist-friendly approach, by allowing them free uploads, a substantial artist percentage payout, and placement opportunities. All of these transactions will be reported on the blockchain. The platform seems to have a firm understanding that artist buy-in is critical.

The crypto music platform also has a token available with limited access points; however, this token has surged into the top 150 tokens and will be looking for continued exchanges to host on.

AUDIO: Audius currently trading at $2.50 AUDIO-USD on TradingView.com

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 Audius & The Music Industry

The way music is bought and sold today has evolved drastically over the past decade. With the rise of digital streaming, Audius now provides a new way that might change how we get our favorite songs. Other projects stand to benefit greatly as Audius shows us a new potential blueprint around crypto and the music business.

The San Francisco-based coin has gained some national  attention in recent headlines on Rolling Stones with some heavy hitters getting behind the project. Some of  the fast growing list of artist investors include Katy Perry, Nas, The Chainsmokers (via their Mantis VC), Jason Derulo, Pusha T, Steve Aoki, Linkin Park’s Mike Shinoda, and more. Audius is a example of how music distribution and the blockchain work together and effectively, providing an innovative way of getting music to fans and getting artist’s paid.

Many interested investors around crypto and music are starting to look at Audius (AUDIO) as something to keep an eye on. The crypto’s price jumped significantly this year and is still on the climb as they close out more deals. With powerhouse backings from artists, executives, and platforms like TikTok, it will be interesting to see how things go in 2022 and in years to come.

Related Reading | How NFTs Are Impacting Artists’ Lives: Enter Bullseum

 

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Visa Issues NFT Report After Buying CryptoPunk, Cites Ethereum & Flow Blockchains

Visa is showing some bullish behavior around NFTs. As reported on at our sister network Bitcoinist today, Visa made a splash by purchasing a CryptoPunk to kick off the week. The purchase was made late last week for around 49.50 ETH – approximately $150,000.

The company is showing clear optimism on the future of the NFT market. If that purchase wasn’t enough to convince you, the firm also released a new NFT report.

“Crypto And Commerce”

The brief report can be found as the latest white paper to feature the company’s crypto research tab on the Visa.com website.

Titled “NFTs: Engaging Today’s Fans In Crypto And Commerce,” the report positions NFTs as having “vast potential in the sports and entertainment world.” While many early NFT projects are bound by a sense of community, a unique identity, or early adopter positioning, there is also no question that NFTs have massive potential in being the next wave of sports collectibles. Of course, with the recent CryptoPunk purchase, it’s clear that Visa understands that the potential goes well beyond just collectibles.

Nonetheless, the report goes on to provide a fundamental layout of what NFTs are, and why collectors, fans, teams, leagues, and talent are finding them attractive.

The FLOW blockchain is highlighted with Ethereum in the latest Visa report. | Source: FLOW-USD on TradingView.com

Related Reading | TA: Ethereum Forms Bullish Pattern, Why ETH Could Continue Higher

Lay It All Out There

The report goes on to talk about various NFT use cases, including in sectors like art and gaming (our team emphasized the importance of project use case in a recent Altcoin Evolution report). Additionally, the analysis highlights Ethereum and Flow blockchains as pivotal players in the NFT space.

The document approaches it’s close by laying out the importance of storage and access, and highlights the different types of marketplaces that can be utilized for distribution.

In sports particularly, the end of the Visa document outlines several different verticals that the company sees as notable areas of potential: loyalty and gamification, utility across metaverses, ticketing, fan governance and decision-making, and fan data with pseudo-anonymity. Indeed, several of these verticals are already seeing fruitful growth (fan tokens, for example, are already empowering fans across different sports and teams to have a say in impactful decisions).

The final ribbon on the report outlines some anticipated considerations and risks, including environmental impacts, fees, and licensing, legal, and regulatory considerations. The company also makes note to highlight emerging efforts in crypto, including Visa Crypto APIs, blockchain research from the firm, and their own Digital Currency Innovation Hub.

As per the aforementioned Bitcoinist article, the Visa wallet data from OpenSea has been gifted a variety of NFTs. Visa of course knows that “innovations such as crypto and NFTs are likely to shape sports, entertainment, and other communities going forward.”

What will be the next big purchase for the Visa wallet?

Related Reading | Grayscale Tops Up Ethereum Investment To $10 Billion

Featured image from Pixabay, Charts from TradingView.com

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The Soccer Club That’s Offering Ownership Via NFT

Thought you’ve seen it all in NFTs? Think again. Sure, we’ve seen digital art collectibles, even some with tangible assets intertwined. Recently, we’ve even seen NFTs including things like patents and Nobel Prize-winning invention documentation. Today, Liga MX franchise Club Necaxa announced their intent to offer something especially unique via NFT – team ownership.

Bidding Is Big: Club Necaxa

The soccer club is fresh off the heels of selling nearly half the franchise; the recent sale valued the franchise in the “low nine figures” according to a Sportico report. The sale was also noteworthy in that it was US investors first venture into what’s described as “the NFL of Mexico”. Real estate investor Al Tylis and DC United executive Sam Porter spearheaded that effort. Major capital investors from NBA players like Shawn Marion, Richard Hamilton, and Victor Oladipo, along with other names in sport such as Justin Verlander and Mesut Ozil joined in with the ownership group as well.

With regards to the purchase, Tylis said that “sports are effectively media properties, and I saw something a while back that I found relatively shocking: In the U.S. alone, more people watch Liga MX than Major League Soccer and Premiere League combined – it was just an unbelievable number to me.”

Tylis has recognized the NFT ‘buzz’ as well, acknowledging that the attention in such a unique NFT listing certainly was part of the draw. The decision was “absolutely a way to generate interest” in Necaxa and noted that they are “adding something unique, and which has never been done before” in implementing an NFT with club ownership.

Related Reading | Top Stars Line Up To Support Environmentally Friendly NFT Platform OneOf

 

OpenSea runs on the Ethereum network, and will be host to Necaxa's initial club token sale. | Source: ETH-USD on TradingView.com

The Club Necaxa Token

The one-of-one token is set to go up for auction in the days to come, and will run until June 18th. The franchise has said that it will carry permanent equity, not subject to dilution or future capital calls. The 1% ownership will always be 1%. The token will be listed on OpenSea and will remain transferrable after initial sale. Blockchain consultancy B9Labs worked with the franchise in launching the token, which is expected to launch with a $1.3M starting ask price.

Beyond franchise ownership, the club’s token will also allow the owner access to club facilities, tickets for both home and away games, and any championship rings that the club wins.

While many soccer clubs have been looking at, or engaging with, ‘fan tokens’ – often launched by companies like Socios, Necaxa is turning the dial up a notch here. Digital presence, meet tangible ownership.

Related Reading | Marsis: Creating New Frontiers In NFTs Space

Featured image from Pixabay, Charts from TradingView.com