Audius, a blockchain-based music streaming service, has an ambitious goal to take on Soundcloud. 🎶 Now, Audius is getting a much-needed cash boost in the streaming wars to expand its appeal from bedroom acts to household names.
The streaming service raised $5 million in fresh funding yesterday. 💸 Investors in the streaming service’s latest round include popular singers and musicians like Katy Perry, Nas, and Jason Derulo. This brings Audius’ fundraising to over $13 million since the service launched. It’s one of the biggest fundraises in entertainment and streaming, at least since artists shelled out for TIDAL’s multi-million dollar raise (which didn’t work out so well).
Audius’s native token, $AUDIO.X, surged over 30% on the news. ⚡
Audius is already one of the most-utilized dApps in the world, prompting attention from experts who predict that $AUDIO.X, will become one of just a handful of crypto apps that break into the mainstream. As of today, $AUDIO.X is worth just over a billion dollars in market capitalization. 🤑