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What is AUDIO? And how to buy AUDIO token?

By Amy Luong
September 22, 2021

On Monday, we’ve celebrated a user for guessing the correct price of AUDIO at 6 p.m, Sep17, 2021. Since September, this digital currency has been listed on Tokenize Xchange. So, what is AUDIO token? And how to buy AUDIO tokens? Keep reading to have your question answered!

what is audio
What is audio? Let’s find out with Tokenize Xchange

What is Audius network? 

Audius is a decentralized music-sharing and streaming protocol that connects listeners directly to artists, giving everyone the freedom to publish, manage, and monetize their work. It provides an alternative choice to SoundCloud that helps artists make differentiated catalogs and distribute directly their music to fans. 

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how to buy audio
Audius is a decentralized music-sharing and streaming protocol

Launched in 2019, Audius had very impressive growth in the past time with more than 6 million monthly active users, rising from 5 million last month. Also, the network has become the first music streaming service to create a partnership with Tik Tok! 

>>>Read more: What is ICP?<<<

What is AUDIO token?

Audio is the native token of project Audius. AUDIO tokens are used for the following purposes: 

Network Security

The node operators secure the network by staking AUDIO. The more AUDIO staked, the more likely their nodes are being used by users.

Feature Access

AUDIO token acts as collateral to unlock additional artist tools. By staking AUDIO tokens, artists may unlock new features like artist tokens and badges, and receive voting power from fans who love to share in their success.

Community-owned governance

Any AUDIO staked in Audius is assigned a Governance role, which is used to shape future iterations of the protocol. Every aspect of Audius protocol is able to be managed, beginning with a token staked. 

The token gives the users a stake in the service, meaning that the Audius platform is thus owned and governed by users themselves. Hence, by staking AUDIO tokens, users gain a portion of network fees and additional voting power in the governance system of the network.

Audius blockchain consists of three demographics of users: content creators, listeners, and service providers.

AUDIO price prediction
Audius content life cycle 

Service providers will be able to offer one or more of the below services to users if they stake AUDIO tokens:

  • Content node (host an endpoint with SSL support and register endpoint with stake)
  • Discovery node (host an endpoint with SSL support and register endpoint with stake)

According to the above diagram, creators are able to operate a content node themselves or use one of the network-registered content nodes.

Should I buy AUDIO token?

“Should I buy AUDIO token?” must be one of the largest concerns of investors and traders who are interested in this music-streaming network. In short, the Audius network is among the top-ranking crypto blockchain in the world. As a non-financial protocol, Audius made a significant change in the music industry as well as gained supports of music fans. 

audio price prediction
Source: Coinmarketcap

AUDIO price is closely linked to Bitcoin price movement. After the recent bearish trend of Bitcoin, the AUDIO price dropped from $3.39 in the middle of August to $2.09 on Sep 22, 2021, dipping 38.3%. That movement showed that this digital crypto is on a downtrend and it could be a great chance to buy AUDIO. 

How to buy AUDIO token?

Potentials

Audius network provides a pro-artist platform that creates a lot of potentials and allows the development team to explore its system. Though the blockchain is still in its infancy and has some issues to be figured out, the team seems to be quick on the uptake. Hence, Audius project is gradually gaining the attention of the music and crypto community and has the potential to grow.

From Sept 8th, 2021, users can easily sell and buy AUDIO on Tokenize Xchange. Don’t forget to finish KYC and start your investment journey with AUDIO.

>>>Read more: How to buy crypto with credit and debit cards in Singapore<<<

Above is the information about AUDIO. The newly-listed token on Tokenize Xchange! Keep following Tokenize Blog for more market news and cryptocurrency information!

***Be kindly noted that the article is the personal opinion of the writer, not Tokenize Xchange’s investment advice.

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