The relatively new altcoin Audius (AUDIO) has just announced a collaboration with social media giant TikTok. This caused the price of the decentralized music platform to explode by 100%. Will Audius become the new music streaming platform number 1? Time for an analysis. We say: What is Audius? Who is behind Audius? What is the AUDIO token? And: What are the price forecasts for Audius-from 2021 to 2028?

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What is Audius (AUDIO)?

Audius is a relatively new blockchain protocol that aims to revolutionize the music streaming industry. This is to be achieved through a new platform on which musicians can upload their songs. The streaming industry’s current problem: It generates billions of dollars in revenue-but only a fraction of that remains with the artists.

In addition,: Musicians have minimal control over how their works are distributed. It also lacks actionable and accurate information about who is streaming when and how much. Audius wants to fix these problems – by allowing artists to stream directly to fans and get paid directly by them.

The following components are used for this purpose at Audius (AUDIO)::

  • An efficient token economy. This is powered by the Audius platform token ($AUDIO), third-party stablecoins and artist tokens
  • A decentralized storage solution and ledger for sharing audio and metadata
  • A unique track encryption scheme
  • A detection protocol for users to efficiently query metadata
  • A decentralized governance protocol where artists, node operators and fans alike individually and collectively decide on protocol changes and extensions

How does Audius (AUDIO) work?

To distribute a track on Audius, artists must first agree to the Audius license. The software client then breaks the track into segments and encrypts them locally (if the content is allowed). Afterwards, the encrypted segments, the encryption keys and the required metadata are uploaded to the respective content node. The nodes then publish the content, and then the search nodes on the network are prompted to index the new content and make it more discoverable.

Why is Audius (AUDIO) special?

As a decentralized streaming portal, Audius wants to revolutionize the music industry. It is also the first music streaming portal to enter into a cooperation with social media giant TikTok. Users can now easily integrate their songs on Audius with TikTok.

Audius ‘ co-founder and Chief Product Officer Forrest Browning explains this in an interview with “Rolling Stone”:

“Every artist can export a song they already have on Audius to TikTok with one click.”

So far, this has been possible without Audius. According to Browning, however, the process is “cumbersome”.

Both TikTok and Audius should now benefit from the cooperation. According to an October 2020 TikTok report, 75% of the platform’s 732 million active users find new music through the app. According to estimates, the portal now has more than 800 million users.

What is the AUDIO token?

The AUDIO token of the Audius platform is responsible for the following aspects: the security of the platform, access to functions and control.

Audius tokens are staked as security. In addition to access to exclusive functions, stakers receive coins and are allowed to participate in the governance.

The AUDIO token is staked by node operators to operate the Audius protocol. Artists and curators, on the other hand, unlock exclusive functions and services. Each AUDIO token that is staked within the protocol is given a “governance weight”. Holders can thus participate in the design of future versions of the protocol.

In addition, Audius tokens should also serve as collateral for “artistic tools”, including artist tokens or badges. In the future, fans will be given the opportunity to delegate tokens to specific artists and curators in order to participate in their growth on the platform and in the issuance of future tokens.

Who invented Audius (AUDIO)?

Audius was invented by Roneil Rumburg and Forrest Browning. Stanford graduate Rumburg was most recently a co-founder of Kleiner Perkins ‘ Early Stage Seed fund. At KP, he was responsible for seed investments in blockchain and AI companies (including Lightning Labs). Before that, he co-founded a Bitcoin peer-to-peer payment company called Backslash.

Browning, on the other hand, is a Forbes 30 Under 30 award winner and previously co-founded StacksWare, an enterprise data center management platform. The company provides analytics on a large scale to Fortune 500 customers and was successfully acquired in late 2017.

That being said, 22 people are currently working on the blockchain protocol. Seven months ago there were eleven-this is also illustrated by the rapid growth of the Audius project.

Audius (AUDIO) – what traders and analysts say

Many industry participants are optimistic about the further development of Audius. Blockchannel founder Steven McKie, for example, thinks an AUDIO valuation of $ 10 is realistic. With more than 5 million active users, Audius is the “most successful app in crypto”, according to his assessment.

CryptoDude (@cryptodude999) is speechless to its more than 44,000 Twitter followers after AUDIO’s 100% price explosion. He merely shares a chart with the vertical rise, writes:

“Don’t have much to say”

The pseudonymous trader @ Digishahed sees Audius already attacking Spotify. He refers to Audius as “decentralized Spotify”to his 33,000 followers.

Audius (AUDIO) Price Forecasts 2021-2028

Currently, AUDIO is trading at $ 3.27 after a parabolic rise (data from Coinmarketcap.com). What do the popular price prediction portals for Audius (AUDIO) predict?

Parabolic rise on AUDIOs 5-day chart. Source: Tradingview.com
  • CoinCodex.com gives a general bullish Audius price prediction ab: According to this, 23 technical analysis indicators signal bullish signals, against which there are 5 bearish signals.
  • WalletInvestor.com currently considers AUDIO a “not so good” 1 year investment. The 1-year forecast sees AUDIO rising to just $ 3.30 within the next 12 months. The 5-year forecast is more confident: here AUDIO succeeds in increasing to 10 dollars.
  • Gov. Capital at Audius predicts a similar development. Accordingly, the AUDIO price will initially rise to $ 3.80 within the next 12 months. By the end of 2026, according to the forecast, AUDIO will even make it to 11,75 dollars.
  • DigitalCoinPrice.com at Audius, expect a continuous upward movement: by the end of 2021, AUDIO will be able to rise to $ 4.92, and by the end of 2022 it will be $ 5.70. In the course of 2023, according to the forecast, AUDIO will not only exceed 6 dollars, but will end up at 7.10 dollars. in 2025, Audius even breaks the 10-dollar limit, in 2026 the 11-dollar limit. Until the end of 2028 says DigitalCoinPrice.com then advance an AUDIO course in the amount of 14.22 dollars.

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Last updated on August 17, 2021

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