TikTok Bans Crypto, But Audius Makes Crypto Music Sound Good
- Audius has announced a partnership, allowing users to upload their music directly to TikTok Sounds.
- The platform currently has over 5 million users, and has been joined by established industry names such as Skrillex, Deadmau5, and Diplo.
- AUDIO, the native token of the platform, rallied by 130%, reaching a token price of $3.94.
Blockchain’s role as a disruptive technology is paying dividends as its exposure knocks on the door of Web 2.0 platforms. Gen Zers makes up 40% of the U.S. consumer base and are projected to surpass millennials by 2026. Not every platform singles out its blockchain integrations, yet its affordance is acknowledged as it provides more resources and advantages to its users. Now Audius has partnered with TikTok to expand its music library.
TikTok is Riding on a Blockchain.
The partnership between social platform TikTok and Audius comes as a bit of a surprise as streaming platforms such as Spotify and Apple Music still largely control how the industry operates. With the integration of Audius, all users and musicians on the platform will have equal opportunities to gain TikTok recognition, as they can upload their music to TikTok Sounds which can then be featured in videos.
According to a statement from TikTok, the integration of Audius is part of developing Sound Kit to “seamlessly bring original sounds and music from third-party apps into the TikTok ecosystem.” In short, TikTok is diversifying outside of mainstream music platforms to create a more community, content-driven platform.
Audius has also expressed their excitement at becoming the first Sound Kit partner, though Audius’ co-founder and chief product officer, Forrest Browning, emphasized in a Rolling Stones interview that 95% of their users do not actively know they are using blockchain technology, because their platform also acts as a social music platform. Through this partnership, Audius’ 5 million strong users can now access TikTok’s 1 billion user base.
On The Flipside
- Established artists are not joining Audius due to the legal issues associated with their streaming platform deals.
- If TikTok decides to implement monetization, industry middlemen such as distributors and label managers will become obsolete.
An Infrastructure for Music Exposure
Social media platforms have turned into a scouting method for both labels and industry professionals. Lead A&R scout Miranda R. reports that TikTok has helped artists launch a music career, reinforcing TikTok’s place in the music industry’s operations. Moreover, 75% of TikTok users have claimed that they use the TikTok’s generator to source and discover new music.
During an interview with Rolling Stones magazine, Audius’ co-founder and CEO, Roneil Rumburg, claimed that the TikTok integration is a necessity for their users because of the “want to find better ways to connect” to their following. In addition, with the growth of new music search engines, TikTok is rapidly shaping the music industry’s recognition protocols.
Spotify and Apple Music’s algorithms strike a balance between well-known high capital artists and emerging artists looking to gain industry exposure. In contrast, Audius can become a launchpad for bedroom DJs and musicians to gain recognition and rapidly rise through the ranks.
What’s more, access to Audius is still given to artists that don’t currently have a record deal, or are still flying under the radar, which makes Audius a more valuable platform for newcomers than established Web 2.0 music platforms.
Thus, the current partnership serves as a hallmark for developing a new standard in the music industry, shifting the power of control and ownership from labels to the artists.
Why You Should Care?
TikTok’s music partnership will alter our music consumption habits, starting with quality, because there will be no gatekeepers to prevent “bad” music from becoming widespread. It also creates discrepancies between copyright laws and royalties, because artists can benefit from a popular song and rework it for their own purpose.
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Market News, Audius, crypto, Crypto Music, tiktokRead More
OhNoCrypto
via https://www.ohnocrypto.com
, @KhareemSudlow
