Launching crypto coins has been a lucrative endeavour for certain political families, but can it pay off for artists? Decentralised music platform Audius is trying to find out.
Its latest feature enables artists to create their own Solana-based coins and then distribute them to fans on Audius. The idea being that fans who hold coins will be able to get perks: exclusive music, private Discords, messages from artists and more. It’s part of a technical revamp for Audius that opens up the tools used to distribute its own $Audio cryptocurrency for artists to use themselves.
The company is clearly aware of the mixed reputation of artists’ crypto projects, however. “There have been challenges and missteps in the artist community on how to make artist coins work up until now,” admitted CEO Roneil Rumburg. “But we believe our approachable user experience, the rich functionality around artist coins that Audius is able to provide, and the market structure of Audius artist coins are a winning combination.”
We’ll see which musicians are first to give it a try.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source musically.com ’
