AUDIO Market Cap Over $1 B After Collaboration With Tiktok

by in Cryptocurrency News

Audius surges

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.

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.