Decentralized music sharing and streaming platform Audius’s native token AUDIO now has over a $1 B market cap. It’s the first time that the indicator has broken above this mark.
The surge happened after the revealed cooperation with TikTok on August 16. Now Audius users can make their music available for use in TikTok videos.📢 Announcing the Audius TikTok integration! 📢
— Audius 🎧 $AUDIO (@AudiusProject) August 16, 2021
You can now share your tracks directly from Audius to TikTok!
Follow and tag us in your videos using an Audius track for a chance to win 50 $AUDIO.
Official TikTok → https://t.co/mP0BKOjzRV pic.twitter.com/3ydBQq3GzL
Audius was founded in 2018. In early August the number of its monthly active users surged over 5 mln.
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The music app is similar to Spotify, with the difference that it's powered by blockchain, particularly Ethereum and Solana.AUDIO token allows owners to participate in governance and voting, to stake for running nodes, and unlocking certain features. The token now trades for around $2.63 ranking 83 by market cap.
Audius’s progress shows another time the growing popularity of decentralized apps and services.