The decentralized music streaming platform Audius is landing on Solana to usher in a new wave of crypto-native musicians. Covered: Audius Lands On Solana What This Means For Musicians The majority of musicians already have a hard enough time making ends meet, and many crypto-native artists are probably especially feeling that struggle now given that […] The post Audius Launches On Solana — Users Can Now Get Paid To Stream Music appeared first on CryptosRus.

Audius Launches On Solana — Users Can Now Get Paid To Stream Music

The decentralized music streaming platform Audius is landing on Solana to usher in a new wave of crypto-native musicians.

Covered:

  • Audius Lands On Solana
  • What This Means For Musicians

The majority of musicians already have a hard enough time making ends meet, and many crypto-native artists are probably especially feeling that struggle now given that Bitcoin is still 36% off its highs. Audius (AUDIO) understands that this crowd is underappreciated and underpaid, so the project is teaming up with Solana to bring ownership back into the hands of creators.

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Audius Lands On Solana

Audius was initially released on the Ethereum-based POA blockchain back in 2018, however, the high transaction fees and lack of scalability plaguing the blockchain makes it virtually impossible to see widespread adoption.

To work around this problem, Audius just announced that it will be releasing a wrapped version of its AUDIO token on Solana, offering a faster, cheaper, and more scalable foundation for Audius fans to use AUDIO and transact with musicians in a seamless way.

Using the Wormhole Portal, ERC-20-based AUDIO token holders can now use the bridge to move their tokens from Ethereum to Solana. The Solana-wrapped AUDIO token can be purchased on the Serum decentralized exchange (DEX), and liquidity pools are being established on Serum as well as Raydium and Orca.

Along with the Solana partnership, Audius announced that its rewards program is going live starting today.

Using the platform, you can start earning AUDIO simply by interacting normally with the platform — creating a profile, streaming music, inviting friends, etc. will all help build your AUDIO stack.

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What This Means For Musicians

Now, why is it such a big deal that Audius is landing on Solana?

Well, migrating the platform to a scalable blockchain like Solana will help to truly unleash the potential of the project. It’s hard to operate when working on slower, clunkier blockchains like Ethereum, and some artists trying to support their living with decentralized streaming would be especially hindering themselves by paying for ETH gas fees while transacting with AUDIO. Now, creators and fans can transact with AUDIO using the ultra-low gas fees offered by Solana.

If we are to see widespread adoption of decentralized music streaming, then it needs to operate on an affordable foundation for creators to truly benefit from using the platform. Audius’ migration to Solana is making that reality possible. Plus, with a strong NFT scene blossoming on the blockchain and greater accessibility coming to fiat on-ramps such as Coinbase, Solana could be primed to take on a large portion of mainstream crypto adoption as people get more accustomed to decentralized services like Audius.

Audius’ move to Solana has been in the works since the project’s initial announcement back in October 2020, when Audius said that it would be utilizing Solana in the future to help scale its service to millions of potential users. Today, that future is ready to be realized now that AUDIO can be utilized on Solana.

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