Audius
Crypto Overview
Overview
Audius is a decentralized music streaming protocol launched in 2018, designed to connect artists directly with listeners while ensuring fair compensation through blockchain technology. The AUDIO token serves as the network's native cryptocurrency, used for governance, security, and feature access.
Intended Utility
The AUDIO token has multiple stated purposes: governance rights over protocol decisions, staking to secure the network, unlocking premium features, and artist monetization. Node operators must stake AUDIO to run network services, while artists and fans can stake tokens to access enhanced platform features.
Actual Implementation & Usage
The platform has achieved significant adoption with over 7 million monthly active users and partnerships with TikTok and Snapchat. There are currently over 250,000 artists on the platform including notable names from the music industry. The development activity remains strong with regular updates to both the protocol and user applications.
Token Distribution & Governance
The initial token distribution allocated 40.6% to the founding team and investors, subject to a 4-year vesting period with a 1-year cliff. The remaining tokens were distributed to the community through various mechanisms including user rewards (36%) and community ownership (23.4%). The vesting schedule and lock-up periods appear reasonable and designed to align long-term incentives.
Revenue Model
The platform's revenue model is based on value creation through network services rather than interest-bearing mechanisms. Node operators earn rewards for providing infrastructure services, while artists earn through direct fan support and content monetization - all of which align with Islamic principles of fair exchange.
Crypto Impact
To assign a comfort level investing in Audius from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Audius.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.