October 19, 2021

Blockchain Music App Audius Raises $ 5 Million From Music Industry Giants

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Audius, a blockchain-based music streaming platform with more than six million monthly users, announced Thursday that it has raised $ 5 million from some of the best people in the music business.

Investors in Audius include artists such as Katy Perry, The Chainsmokers, Nas, Jason Derulo, Pusha T, Mark Gillespie, as well as industry leaders like former Sony Music CEO Martin Bandier, CEO of the company d K5 Global investment Michael Kives and CEO of SESAC performing rights organization John Josephson.

This year, more and more artists have entered the digital asset and blockchain space, especially Katy Perry, who is releasing an NFT collection in December of this year, and the ever-optimistic Jason Derulo, owner of an NFT CryptoPunk.

“I know the blockchain is going to change the world since I invested in Coinbase five years ago and I think it is perhaps the most important technology to ever hit the music industry,” Rapper Nas said in the statement. “Anyone who uploads to Audius can own it, you can’t say that about any other platform. “

Audius is a San Francisco-based company founded in 2018. To date, it has raised $ 8.6 million with contributions from Coinbase Ventures, Pantera Capital, Multi-coin capital, and other investors. In mid-August of this year, Audius became the first streaming platform to integrate with video-sharing giant TikTok. Audius also has its own token, $ AUDIO.

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