TikTok Collaborates with Decentralized Music-Sharing App Audius August 17, 2021 August 17, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsAugust 17, 2021 by Kelly Cromley

TikTok Collaborates with Decentralized Music-Sharing App Audius

Audius protocol, which facilitates music sharing, has turned out to be the foremost streaming services to collaborate with TikTok, enabling users to share songs directly with the popular app. Audius stated Monday that it has collaborated with TikTok on the development of a unique functionality dubbed TikTok Sounds.

As per a discussion with Audius co-founder and chief product officer Forrest Browning in Rolling Stone, the partnership would enable users to transfer songs produced using the covenant to TikTok with a single click, in an attempt to simplify the procedure.

Although Audius says it wants to use blockchain technology to incentivize content producers and improve transparency on artist payments, the connection with TikTok appears predominantly about music than promoting positivity about cryptocurrencies or decentralized finance. Browning claims that approximately 95% of Audius users are unaware that blockchain is even a part of the offering.

TikTok, which is nearing one billion monthly active users, claimed in July that 75% of its US customers explore new artists via the app. Following an October debut, Audius currently has around 5 million monthly active users, with much of its governance tokens distributed to producers depending on the amount of feeds they create.

TikTok presently does not enable users to earn performance royalties from streaming audio, but instead provides possibilities for visibility and audience interaction. TikTok’s connectivity is rather unexpected considering the app’s July decision to prohibit cryptocurrency-focused marketing materials and also “the marketing of any financial services and goods.” Many people discovered the meme-centered cryptocurrency Dogecoin (DOGE) via TikTok videos that circulated in 2020.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.