Audius (AUDIO) is a decentralized music streaming and sharing platform built on blockchain technology. It empowers artists to distribute, monetize, and stream their audio content directly to fans, bypassing traditional industry intermediaries. The platform uses the AUDIO token to incentivize node operators, reward artists, and facilitate governance and financial transactions within the network.
Audius (AUDIO) is used in several ways within the decentralized music streaming platform:
Security and Governance: AUDIO is staked by nodes to secure the network and participate in governance. The more tokens staked, the more likely a node is to be used by fans and receive rewards. This incentivizes maximal staking.
Exclusive Features and Content: AUDIO tokens grant access to unique features and content on the platform. For example, artists can offer exclusive content to fans who hold specific amounts of AUDIO.
Payment and Rewards: AUDIO is used as the primary payment method within the platform. Artists are paid in AUDIO tokens every time someone streams their music. Additionally, users can earn AUDIO tokens as rewards for sharing playlists and engaging with the platform.
- Node Operations: Content nodes and discovery nodes use AUDIO to manage and index music content, ensuring that artists' work is available and discoverable on the platform.
Overall, the AUDIO token plays a central role in maintaining the decentralized nature of Audius, ensuring that artists have control over their work and are fairly compensated, while also incentivizing users and node operators to participate in the network.
To store Audius (AUDIO) tokens, you can use various methods:
Audius Profile:
- Ensure you have Silver status on Audius, which unlocks the collectibles tab.
- Connect your Phantom wallet to display both Ethereum and Solana collectibles.
Guarda Wallet:
- Create an Audius wallet on Guarda, which supports over 50 cryptocurrencies.
- Use the desktop, mobile, or Chrome extension versions to manage your tokens securely.
Ledger Wallet:
- Open your existing ETH account on Ledger Live.
- Add the Audius token by searching for it and selecting it.
- Use the generated receive address to send AUDIO tokens.
- MetaMask or MyEtherWallet:
- Connect your Ledger to these wallets through hardware integration.
- Manage all your ETH tokens, including Audius, without exposing your private keys.
These options provide secure and user-friendly ways to store and manage your Audius tokens.
To buy Audius (AUDIO) tokens, follow these steps:
Choose an Exchange: Select a reputable cryptocurrency exchange that supports the purchase of Audius (AUDIO). Some popular options include Uphold, Paybis, Kraken, Coinbase, and Kriptomat.
Create an Account: Sign up for an account on the chosen exchange by providing necessary information such as email address, password, and completing any required identity verification steps.
Add Funds: Deposit funds into your exchange account using a payment method accepted by the exchange, such as a credit card, debit card, bank transfer, or Bitcoin.
Buy Audius: Navigate to the "Buy" or "Buy & Sell" section, search for Audius (AUDIO), and select it. Enter the amount you want to purchase, preview the transaction, and confirm your purchase.
Transfer to Wallet (Optional): Once you've purchased your AUDIO tokens, you can either hold them in your exchange account or transfer them to a personal cryptocurrency wallet for additional security and flexibility.