Audius Launches Token-Gated Content for NFT Token Holders

Web3 music streaming platform Audius announced a new feature that will give artist NFT owners exclusive access to gated tracks.

Artists without superb NFT collections can also allow holders of NFTs from popular collections such as Bored Ape Yacht Club and CryptoPunks to unlock tracks.

Audius strengthens the link between fans and artists

According to Audius’ official blog, the new feature will introduce the ability to restrict access to tracks through ownership of an NFT collectible. The update gives music artists the ability to turn collectibles into digital keys, which unlock exclusive access to their tracks.

The new feature will require users to be comfortable with Web3 applications since holders of artist NFTs will need to connect their Solana or Ethereum wallets to Audius to listen to gated tracks. According to a September 2022 Decrypt interview with CEO Roneil Rumburg, this group did not make up the majority of Audius users.

Artists uploading exclusive tracks can adjust their availability from Public to Collectible Gated and select the NFT collection that controls access.

Audius was built on Ethereum, but later migrated its content distribution platform to Solana. It enables superfans to meaningfully engage with their favorite artists. Creators can create immutable records of their works on a blockchain secured by AUDIO actors.

The platform has attracted investments from global superstars Katy Perry, The Chainsmokers and Lil Nas X. At launch, Audius brought electronic artists deadmau5, Brownies & Lemonade and 3LAU. It also introduced a tipping feature to enable superfans to tip artists using AUDIO.

Audius recently introduced a one-click registration process for TikTok members. Artists can also easily export Audius content to the centralized short video platform.

Web3 platforms share ideals with the creator-driven economy

The Web3 ethos of decentralization from incumbents and flexibility aligns with the principles of the booming content creation economy.

Consequently, investments in the creative economy have grown in recent years. Companies that traditionally derive most of their profits from content produced on their platforms have been forced to rethink their business models.

TikTok founder ByteDance has been a notable trailblazer in this space, investing in the metaverse through its acquisition of VR-focused Pico, which competes directly with Facebook parent Meta’s Web3 ambitions. YouTube’s Shorts product competes directly with TikTok.

TikTok recently launched a revamped version of a $200 million creator fund, called the Creativity Program, in beta testing. At the same time, Binance tapped TikTok’s most followed creator Khaby Lame to promote Web3 last June.

Centralized Audius competitor, streaming platform Spotify, also announced that it would offer curated playlists to Flud, Overlord, Kingship and Moonbird NFT holders. However, the firm has not committed to further Web3 investments.

However, the Swedish platform still surpasses Audius’ user base, with 489 million subscribers compared to Audius, which as of September 2022 had accumulated around 7.5 million users.

BeInCrypto reached out to Audius Chief Product Officer Forrest Browning, but had not heard back by press time.

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