The world’s first community-owned music platform, Audius, officially launched its very own marketplace yesterday in beta, enabling 8 million music fans to directly tune into and contribute to their favorite artists.
Quick Takes:
- Audius introduces a music marketplace enabling fans to pay artists directly using USDC.
- Artists gain pricing control over their music and potential bonuses based on buyers’ actions.
- ‘$AUDIO Match’ is also being introduced, granting token rewards as an added incentive.
One key factor of ‘Audius Marketplace’ includes artists finally having complete control of the pricing of their music for access in downloads and streams through NFTs.
Whatever the price range, music fans can now directly pay artists — and shortly record labels — to tune into a plethora of music through USDC payments (which is easily convertible into other currencies).
On top of that, fans wanting to show gratitude to their favorite musician can pay artists more than their song’s initial price, creating a powerful new revenue stream for musicians and bolstering fan appreciation.
“Today, artists and record labels will be able to set their own price to unlock music for their fans – b-sides, new mixes and more. Empowering fans to make direct payments to the artists they love is a milestone moment for Audius and for all of the artists and labels who have made our community a key part of their offering to fans.”
Audius CEO, Roneil Rumburg
The first batch of musicians to take full advantage of this new monetization capability are notably ‘The Glitch Mob’, ‘Cheat Codes’, ‘Kato on the Track’, ‘Matt Ox’, ‘Rac and Daniel Allan’, alongside 40 additional artists.
On the flip side, independent record labels poised to join the Audius Marketplace include Circus Records, Nettwerk Music, EMPIRE, Bitbird, and several others. However, these company’s won’t have access to the marketplace until it becomes more widely available in a couple of months.
Additional Audius Marketplace Perks
Further attracting fans and artists alike to Audius Marketplace is the incentive ‘$AUDIO Match’. This native token will be issued to artists and fans as a 1:1 match for each NFT song purchase. For instance, if an artist sells their music for $10 in USDC, both the artist and buyer will receive $10 in $AUDIO tokens, useable within the Audius ecosystem.
Interestingly, Audius has also joined forces with Beatport’s label operations management platform, Ampsuit, to bring hundreds of labels into its ecosystem by distributing the company’s music seamlessly.
Audius Marketplace presents a cutting-edge breakthrough, encouraging music lovers to engage with their top artists and create an additional revenue stream. Curious? Join the waitlist now!
