Audius Token Up By Over 90% Following TikTok Partnership
The price of AUDIO, the native token of decentralized music streaming service Audius, has exploded by over 90% on the heels of the platform’s integration into social media giant TikTok.
At the time of writing, AUDIO was trading at around $3.32, according to crypto metrics platform Nomics. Notably, the token’s current price is roughly 30% away from its all-time high of $4.95, recorded on March 27.
The surge occurred after Audius announced a partnership with TikTok yesterday, giving its artists exposure to the social media platform’s 732 million active monthly users.
The integration makes Audius one of the first partners of the media giant’s Sound Kit SDK, which enables creators and artists to "seamlessly bring original sounds and music from third-party apps into the TikTok ecosystem."
📢 Announcing the Audius TikTok integration! 📢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 🎧 $AUDIO (@AudiusProject) August 16, 2021
The new feature allows Audius artists to bring their tracks to TikTok so that users can easily add them to their videos.
“The workflow for getting songs into TikTok is fairly cumbersome today. To avoid it, some artists even resort to holding their phone up to their laptop's speakers to re-record the sound for TikTok. With the Audius integration, artists who have content on Audius are able to push it into TikTok with one click,” Roneil Rumburg, Audius co-founder and CEO, told Decrypt yesterday.
Among the artists who have already joined Audius are popular musicians such as Skrillex, Deadmau5, The Stafford Brothers, 3LAU, Alina Baraz, and others. For many of them, it's not their first foray into the crypto world.
For example, Deadmau5 has been active in the non-fungible tokens (NFTs) sphere over the past months. Last December, he launched $100,000 worth of NFT collectibles in partnership with Worldwide Asset eXchange.
In another instance, the artist teamed up with Mythical Games and its NFT-centric free-to-play game Blankos Block Party.Source