Thread by @Cov_duk

#Audius 101: Web3 Spotify

Here's your intro guide to Audius, the fully decentralized music platform.

A thread 👇🧵

2. #Audius is a fully decentralized music platform.

Audius allows users to upload their songs to the their platform, while connecting artists to fans.

3. #Audius uses blockchain tech to allow this to happen. Each artist produces immutable records for their songs

To compete and beat commonly used music apps like Spotify,

Audius has to be very intuitive and easy to use.

4. Consumers don’t care whether or not they are using blockchain tech, they want is for a seamless platform.

Hence, #Audius has a strong focus on making things simple and easy to understand

5. The #Audius network has two types of nodes: content nodes (nodes that host content) and discovery nodes (nodes that index content).

Using these nodes, Audius stores and indexes the artists’ songs and store them on chain.

6. $AUDIO is the native token of AUDIUS and is used for governance, security and exclusive features. Artists can stake their crypto for special perks.

7. #Audius was initially built on the POA network but recently moved parts to Solana.

Devs can build their own dapps on the Audius blockchain, allowing for freedom and creativity.

8. #Audius is incredibly easy to use. This focus has led Audius to become popular in non crypto native groups.

Artists gain $AUDIO tokens as rewards for completing specific achievements such as top 5 songs of the week. $AUDIO tokens are also dropped on a periodic basis.

9. #Audius has a strong emphasis on compensating artists.

This is why the team plans for about 90% of the tokens to end up with the artists.

10. Anyone can upload music to the platform, there is no screening process.

Everything is free - both users and artists can use the platform for free, while everyone earns crypto.

The streaming quality is comparable to that of Spotify.

11. #Audius is fully decentralized and censor resistant, allowing it to be a platform to store music forever and protect the rights of those marginalized.

https://twitter.com/AudiusProject/status/1143987175337316353

12. Companies like Spotify compensate their artists terribly.

The average pay per stream is $0.003. Small artists find it incredibly difficult to earn a consistent, adequate amount of money through these big centralized platforms.

The system is outdated and failing.

13. There’s a huge opportunity for web3 projects to completely reshape the music space.

Web3 is based on the principle of empowering the artist and putting the control in the users’ hands.

This is exactly what #Audius is doing.

14. It is completely decentralized and uses blockchain tech to essentially do away with the middle man and put all the revenue into the hands of the creators.

The music industry is a multi billion dollar industries that is ripe for disruption.

15. Creators are frustrated with the current options and it is becoming more and more difficult to make money through these platforms

16. Artists are already using #Audius without even realizing that they are using blockchain tech.

Audius has become a conducive environment that has received a lot of traction, from both small artists and big.

17. It has become a place to experiment, earn money and an alternative to the traditional predatory systems.

18. The music industry is bound to be disrupted by crypto and #Audius is well positioned to emerge as the leader.

19. Accounts to follow for #Audius insights & news:
@AudiusProject @SuhailKakar @MTI_Trading @tendorian9 @MadNews_io @AudiusPlaylists @Cooopahtroopa @ShanonRichardz @Ranidu @ijaidathompson @notonft @RealPrinceOla

RT would mean a lot!

20. I hope this was insightful, a retweet would mean a lot!

More breakdowns and 101s coming, follow to keep up.

Here are my past threads: notion.so/covduk/4798517…