Blockchain-based music streaming startup Audius has made sizeable strides in the last year, and a bevy of dance music artists have helped lay the groundwork for its growth.
With over 250,000 monthly users and $8.6 million in growth capital to its name, Audius is among the most promising music industry-related blockchain ventures. The project seeks to disrupt the streaming industry by creating a peer-to-peer payment system that enables artists to receive payments instantly. The model makes for a more efficient system that effectively eradicates label inefficiencies and payment latency.
Dance music artists have flocked to the cutting edge project. 3LAU, deadmau5, Lido, Mr. Carmack, REZZ, and Zeds Dead have signed on thus far, and in total, the platform has attracted over 40,000 artists to date. 3LAU and Beatport CEO Robb McDaniels are also strategic advisors to the project.
For listeners, Audius does not require knowledge of blockchain in order to use. The company aims to become an alternative platform with a familiar user experience to that of its competitors.
Audius plans to launch its mainnet on the Ethereum blockchain in the next couple of months, keeping them on target to introduce instant payments for monetized content by the end of the year, according to CEO Roneil Rumburg.
For more information on Audius, check out the official website here.