Audius vs. Modern Music Industry

Audius is a blockchain startup seeking to cut middlemen out of the music business. The company has recently presented its blockchain’s beta version.

Audius has presented beta version of its blockchain-based streaming music service. The platform source code has been uploaded to GitHub and is now available for free use.

Moreover, the company has encouraged its users to run network nodes: in exchange for their production capacities they will be receiving rewards distributed in the company’s own token. The company management has also mentioned that the first nodes will receive some additional preferences.

To date, Audius has raised more than $ 5 million from a number of venture capitalists including General Catalyst, Lightspeed, Pantera Capital and other well-known companies. The beta version will be launched by the end of September, whereupon the company will focus on establishing cooperation with famous artists and move on to the next development stages.