Home Blockchain Blockchain music app Audius raises $5 million from music industry giants

Blockchain music app Audius raises $5 million from music industry giants

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Audius, a blockchain-based music streaming platform with over six million month-to-month customers, introduced Thursday that it raised $5 million from among the music trade’s prime folks.

Traders in Audius embody artists equivalent to Katy Perry, The Chainsmokers, Nas, Jason Derulo, Pusha T, Mark Gillespie, in addition to trade leaders like former Sony Music CEO Martin Bandier, CEO of the funding agency K5 International Michael Kives, and CEO of the efficiency rights group SESAC John Josephson. 

This 12 months has seen extra artists enter the digital asset and blockchain house — particularly Katy Perry, who’s releasing an NFT collection in December of this 12 months, and the ever-bullish Jason Derulo, proprietor of a CryptoPunk NFT. 

“I’ve recognized that blockchain will change the world since I invested in Coinbase 5 years in the past and I consider it is perhaps crucial know-how to ever hit the music trade,” stated the rapper Nas within the assertion. “Everybody who uploads to Audius will be an proprietor, you’ll be able to’t say that about some other platform.”

Audius is a San Francisco-based firm based in 2018. Thus far, it has raised $8.6 million with contributions from Coinbase Ventures, Pantera Capital, Multicoin Capital, and different buyers. In mid-August of this 12 months, Audius turned the primary streaming platform to combine with the video-sharing big TikTok. Audius additionally has its personal token, $AUDIO. 

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