Monday, August 3, 2020

Blockchain music service Audius raises $3.1m funding round | Music Ally

We first wrote about startup Audius when it raised a $5.5m funding round in August 2018 for a service that was described as ‘SoundCloud on the blockchain’.

When it launched its public beta a year later, it was interesting, but its ‘censorship-resistant’ philosophy created some headaches in the potential for unauthorised uploads, and the difficulty for rightsholders to get them taken down.

Since then, Audius has launched a mobile app, and now it has announced another funding round: this time for $3.1m. There’s another figure too: “Today, there are more than 250,000 fans using Audius every month,” revealed the company, adding that more than 40,000 artists have so far uploaded music to the platform – with Deadmau5 being the highest profile.

“This also marks the first public step towards the launch of the new staking system. Once live, creator nodes and discovery services can start earning real value for the work they are doing,” claimed the company.

Stuart Dredge


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