AUDIUS Crytocurrency - TOP Solana ALTCOIN With Huge Potential - AUDIO Price Prediction - What is AUDIUS Token ?!
00:00 - Introduction
01:50 - Audius Price Data
02:13 - Highlights of the year
06:21 - AUDIO Price Prediction
07:15 - My thoughts
Audius is a decentralized music streaming and sharing platform that’s described as a hybrid of services like Spotify and SoundCloud, with the added benefit of token rewards for users and creators. Artists like, Linkin Park’s Mike Shinoda, Weezer, and Skrillex have released songs via the site, which has attracted more than 5.3 million unique users over the past month,
AUDIO token just as many altcoins hit all-time highs in 2021 and then spent the following months drifting lower?? So In case you are Wondering if now is the right time to buy Audius? Or unsure if Audius is a good investment.
NEWS or Highlights
Audius was originally built to be used on the Ethereum network. The platform began its entry into the Solana ecosystem in October 2020, announcing plans to use the platform to scale its service to potentially millions more users. Last September, Audius added the ability for select users to showcase their owned Solana NFTs via an integration with the popular Phantom wallet, joining the previously-added support for Ethereum NFTs.
Audius announced a star-studded $5 million investment round last September that featured artists like Katy Perry, Nas, Steve Aoki, Shinoda, Jason Derulo, The Chainsmokers, Pusha T, and Disclosure. Some of those artists are deeply involved in the crypto space through other endeavors, such as NFT collectibles or additional investments.
One of the main reasons for the recent increase in attention for AUDIUS is he latest step in the process of embracing blockchain Solana: bridging its Ethereum-based AUDIO token to Solana.
Starting on 16th of Fabruary this year, any AUDIO token holder can move the ERC-20 token from Ethereum to Solana using Wormhole’s Portal, a cross-platform bridge that lets users “wrap” an asset from one blockchain to use it on the other. When bridging, the native Ethereum tokens are locked into Wormhole’ssmart contract, which then produces new native Solana tokens to use instead.
What’s the value? Audius says that this bridging process is an important step to bringing more functionality over to the rising Solana ecosystem, with a release claiming that it is “paving the way for future Solana-based features on Audius.” The platform is also now offering new token rewards to users for actions like downloading the mobile app or inviting friends.
Audius adds that it sees this as another potential access point for new users to get onboarded to the blockchain-based music platform. An Audius representative told Decrypt that Solana’s “low-cost, faster, and more environmentally-conscious blockchain” will help the firm “create an accessible gateway to onboard users into the Web3 ecosystem.”
To support the bridged and wrapped AUDIO token, Audius will establish liquidity pools on the Solana decentralized exchanges Raydium, Serum, and Orca, plus the wrapped token will be available for purchase via Serum.
The plan to bring AUDIO to Solana was executed via a series of governance proposals, which were proposed by the Audius core team and approved last week by community members. Audius has token-based governance via a decentralized autonomous organization (DAO), which was established when the platform aidropped 50 million free tokens to artists and fans back in October 2020.
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