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Social media giant TikTok has picked Audius, a music streaming site based on Ethereum and Solana blockchain for the app’s new “TikTok Sounds” library. Creators on Audius can now directly share their music on TikTok for users incorporating them in their videos.
TikTok Partners With Ethereum-based Music Platform
GenZ’s favorite social media site TikTok goes decentralized by picking blockchain-based music streaming service Audius over Spotify and Apple Music. As part of the collaboration, artists on the Audius platform can now directly upload their music as 'TikTok Sounds’, which founders say takes only “less than a minute”.
Founded in 2018, Audius is the largest blockchain-based streaming site that includes over 100,000 artists including electronic music stars Skrillex and deadmau5, and Weezer. Apart from indie artists, the app has also managed to catch the eye of big names such as American DJ Skrillex.
Initially launched on the Ethereum-based POA network, Audius partially migrated to rival Solana blockchain. In January, Audius had about 1 million monthly active users to touching 5 million this month.
Exposure for Decentralized Musicians
As of October 2020, TikTok reported having over 732 million global monthly active users. That number has likely reached new highs amid the app’s popularity in the global pandemic. In July, TikTok reported that over 75% of its U.S.-based users use the app as a way to discover new music.
With TikTok's recent partnership with the blockchain music streaming site, artists can surely have exposure from a global platform. At the same time, TikTok users could go down the crypto path from Audius’s dual-functioning governance and utility token.
Audius is driven by the Ethereum-based AUDIO token, where users can stake in the platform to participate in governance decisions while earning rewards for securing the network.