• Decentralized Music Streaming Platform Audius Raises $5 Million

  • Decentralized music streaming platform Audius has announced the closing of its latest round of funding, raising a total of $5 million. This is the fourth round of funding for the platform, which also recently struck a deal with TikTok to allow Audius to add a feature that will allow artists to share their music directly to TikTok.

    The platform’s investors include big names in the music industry such as Katy Perry, Nas, The Chainsmokers, Jason Derulo and Pusha T, as well as leaders such as Sound Ventures, Electric Feel Ventures and former Sony/ATV boss Martin Bandier .

    The blockchain startup has been around since 2018 and it currently has over 6 million monthly users. Many artists have entered the NFT space since the beginning of this year, with Katy Perry set to release an NFT series in December 2021. This is an interesting move for artists who are very much a part of the traditional music label system, as they have to go through various legal processes to participate in a platform like Audius.

    “Ever since I invested in Coinbase five years ago, I’ve known that blockchain was going to change the world, and I believe it could be the most important technology the music industry has ever seen,” rapper Nas said in a statement.” Everyone who uploads to Audius can be an owner, and you can’t say that about any other platform.”

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