With blockchain technology becoming a greater and greater part of the mainstream, slowly moving out of its extremely niche format, things are starting to integrate with it even more. A prime example of this would be the digital music, video streaming, and social media space that are slowly seeing more and more blockchain contenders.
Audius Gaining Ground
One of these new contenders is Audius and its AUDIO tokens. Audius is hard at work chasing that juicy first-mover advantage as it charges head-on into the music streaming space. The streaming and music-sharing protocol allow for creators and listeners to enact various transactions with each other. Through this process, users are effortlessly capable of monetizing and distributing audio content of all shapes and sizes.
It seems that Audius has been rather successful: On the 2nd of March, 2021, the team celebrated the fact that it now boasts 3 million users active on a monthly basis. Through this, it is clear that Audius is gaining greater levels of attention within the world at large.
AUDIO Tokens Trading For Much Higher Value
Tradingview, a popular crypto data provider, has revealed that the AUDIO tokens have seen a spectacular price hike of 108% since March had started. The asset’s low in this month was recorded at $0.38, but has recently blasted into a new all-time high of $0.79 on the 4th of March. The biggest increase was in the trading volume, however. Within that same time frame, AUDIO token trading volumes rose from $3 million in total to $55 million.
January’s end saw the monthly active users for Audius rise up to 1.8 million, before it increased dramatically again. Back on January, 22 million AUDIO tokens were staked in the network, as well. This marked the second major increase in users, as the prior increase was the platform’s launch. Staking for Audius was activated in December, offering a yield of 7% for the staked assets while people listened to music and otherwise took part in the protocol. The best part is Audius doesn’t seem content to simply let it be, and is working towards new feature integration at the time of writing.
Plans For The Future
On the 5th of March, 2021, Audius announced a new set of plans. These plans pertain to non-fungible tokens (NFTs) it plans to integrate within the protocol itself. This all comes in part of an ongoing effort to become a full-service decentralized platform, and expand its user base in the process, obviously.
It just so happens that the crypto space at large has gained a spectacular level of interest for NFTs in general. With this in mind, an easy deduction can be made with the expected increase in the number of Audius users once the integration is achieved.