Audius (AUDIO) is a decentralized music streaming protocol that was initially built on the POA network and now operates on Solana. It was launched with the intention of addressing the inefficiencies of the music industry, such as opaque music rights ownership and intermediaries that stand between artists and their audience. The platform, powered by its native AUDIO token, allows artists to upload music that fans can access without additional charges. The music is stored and distributed by content and discovery nodes. Audius currently rewards content creators with features like inclusion in the weekly trending lists and aims to integrate stablecoins for artists to offer paid content.

The Audius ecosystem comprises four main participants: artists, fans, content nodes, and discovery nodes. Artists publish content on the Audius content ledger at no cost, and the music is streamed at a high quality. Fans can access tracks without additional charges and have the opportunity to stake AUDIO to participate in artists’ growth on the platform. Content nodes maintain the availability of content on AudSP, the platform-native extension to IPFS, while discovery nodes index metadata queryable by users, enabling them to find new content. The platform includes artist tokens to facilitate monetization, subject to artists staking AUDIO.

Audius seeks to provide a platform where artists can experiment or share bonus tracks, and fans can access these tracks without additional charges. Fans have the opportunity to stake AUDIO to participate in artists’ growth on the platform. They can also showcase their verified NFTs through the platform and earn different badges. Artists could choose to run their own content nodes and maintain greater control over their content distribution.

Audius was founded in 2018 by Roneil Rumburg and Forrest Browning, two California-based entrepreneurs. Roneil Rumburg is a Stanford University alumnus who co-founded Kleiner Perkins, an early-stage seed fund investing in blockchain and AI companies. Forrest Browning, also a Stanford alumnus, is a Forbes 30 Under 30 recipient and a co-founder of StacksWare, an enterprise data center management platform. The team is complemented by 21 other employees and backed by a host of other illustrious names. The total supply of AUDIO is 1 billion tokens, with a current circulating supply of 411m AUDIO. The annual increase in supply is 7%, and 50 million AUDIO were distributed to the top 10 artists and fans, with 75% going to artists based on stream count.

Audius' decentralized structure is intended to reduce the likelihood of unilateral changes to the service without a network-wide vote, with the intention that artists maintain control over their work. Artists may generate timestamped records for their creative works and register them to the Audius network, with the intention that the metadata attribution remains verifiable and immutable. Artists may receive tokens as non-monetary rewards for uploading tracks that achieve a certain level of engagement. Open and free APIs are part of the Audius platform, which third-parties can use to build apps on top of the network, allowing users to interact with the content in various ways on different devices.

The AUDIO token is the native digital asset of the Audius platform. The token has three primary functions within the Audius ecosystem: security, feature access, and governance. For security, AUDIO is staked by node operators to secure the network. The system is designed to utilize nodes based on staked amounts. For feature access, AUDIO serves as collateral to unlock additional artist tooling. In the future, fans may delegate AUDIO to specific artists and curators to support their activities on the platform. Lastly, for governance, any AUDIO staked within Audius is assigned governance weight, used to shape future iterations of the protocol. Every aspect of Audius is governable, with one token staked equating to one vote. This system is designed to distribute governance weight to those who are active on the platform, a mechanism Audius aims to make suitable for future users of the protocol.

Creating and distributing content on the Audius platform is a straightforward process. As an artist, you can upload your music directly to the platform. Audius supports high-quality audio formats, maintaining the integrity of your music when streamed or downloaded. Once your music is uploaded, you can create Non-Fungible Tokens (NFTs) for your tracks or albums. These NFTs represent ownership of the music and provide fans with exclusive access to the tracks. These NFTs can be shared with fans on the Audius platform. Fans can acquire NFTs using cryptocurrency, providing a new form of support for artists and a way for fans to show support. Audius includes social features that enable artists to connect with fans and build their fan base. Fans can follow artists and like and repost tracks, which aids in the visibility of the artists and their music.

Audius utilizes blockchain technology with the intention of ensuring fair compensation and royalties for artists. The platform allows artists to receive non-monetary rewards directly from listeners, without any fees or payment processing charges. This means artists may receive more non-monetary rewards from their music streaming activities, as they are not paying any fees to the platform. Moreover, Audius has a built-in royalty system that aims to ensure artists get rewarded for their work, regardless of how many times it is streamed. This system is a notable improvement over traditional streaming platforms, which often take a large percentage of streaming revenue from artists. On another note, the platform's native digital token enables seamless transactions between artists and fans, altering the overall music streaming experience.

Audius primarily supports audio tracks uploaded by artists. Additionally, it also supports other forms of content such as curated playlists, artist profiles, and user interactions. The platform strives to give artists the freedom to distribute and stream their music directly to fans. The content on Audius is curated by the artists themselves, the fans, and the platform's community. Artists can upload their tracks, create albums, and share content with their followers. Fans can stream tracks, create playlists, and follow their favorite artists. The platform also includes a feature called "Collectible Gated" which allows artists to provide exclusive content to users who own a specific Non-Fungible Token (NFT) from a collection chosen by the artist. This feature presents a distinct method for artists to curate and control access to their content.

Audius operates on a community governance model, which is a fundamental element of its decentralized infrastructure. This model allows the community to potentially influence future iterations of the platform through on-chain proposals. The governance process is enacted by AUDIO token holders, who can vote on proposals. For a proposal to pass, at least 5% of all staked AUDIO must vote on the proposal, and more than 50% of the votes must be in favor of the proposal. Currently, only those running a node can make a proposal on-chain, but in the future, the set of permitted proposers may be considered for expansion based on community input. The governance process is not just about voting on proposals on-chain, but also about facilitating participation in governance. This includes tools, processes, and logistics behind AUDIO voting. The community can also contribute to early iterations and ideas for proposals through various communication channels. After receiving feedback, node operators may consider submitting that proposal on-chain through the Governance portal.

Audius encourages participation by proposing a more balanced model for artists' recognition and a more engaging experience for listeners. Artists on Audius are allocated 90% of the platform's non-monetary rewards, a different approach compared to traditional music streaming platforms. These rewards are given in the platform's native cryptocurrency, $AUDIO, which artists may receive based on their streams and engagement on the platform. Listeners, on the other hand, may access exclusive content through the use of $AUDIO tokens. Audius encourages participation by hosting remix competitions and providing a user-friendly platform for artists to share their music at no cost. The platform also uses a unique formula that considers not just the number of streams an artist accumulates, but also their activity on the platform and user interest in their music.

Audius has engaged in several strategic partnerships with the intention of broadening its music ecosystem. One of the most notable collaborations is with a widely-used social media platform. This integration allows users to create accounts by linking their social media profiles, and share songs in their social media videos. This partnership seeks to increase the diversity of talent on the platform. Audius has also attracted the attention of renowned musicians who contributed to the company's funding round. Another significant partnership is with a high-performance blockchain, which enables users to feature non-fungible tokens (NFTs) from various ecosystems. These collaborations seek to offer improvements to the user experience and foster a more vibrant music ecosystem.

Audius has attracted a diverse range of artists and projects. Some of the notable artists who have participated in Audius include Katy Perry, Nas, The Chainsmokers, Jason Derulo, Pusha T, Steve Aoki, Linkin Park’s Mike Shinoda, and Disclosure. These artists have utilized the platform to distribute their music directly to fans, bypassing traditional intermediaries in the music industry. Audius has also been used for various projects, such as remix competitions, where artists provide audio tracks or samples for the community to remix. This encourages creativity and collaboration within the Audius community. The platform's unique blockchain technology and artist-centric approach have made it an option for both established and emerging artists.