Audius Brings NFT Galleries to EDM-Heavy Streaming Service

The decentralized library of underground tunes is letting artists pool their NFTs in a single online gallery in a bid to be a one-stop shop for their biggest fans.

AccessTimeIconApr 8, 2021 at 4:05 p.m. UTC
Updated May 9, 2023 at 3:17 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Audius, a decentralized music streaming service with big user numbers for a Web 3.0 project, has launched a non-fungible token (NFT) showcase feature for its resident artists.

Disclosed to CoinDesk Thursday, the new feature lets artists showcase their NFT merch in a consolidated gallery, making it easy for diehard fans to peruse. The move comes at a time when acts like Kings of Leon and others are rolling out increasingly lavish collectibles for their superfans and the crypto-rich.

  • Key Events You Shouldn't Miss at Consensus 2024
    02:13
    Key Events You Shouldn't Miss at Consensus 2024
  • What to Expect From Consensus 2024
    11:19
    What to Expect From Consensus 2024
  • Will Solana and Altcoins Dominate the Market Next?
    13:29
    Will Solana and Altcoins Dominate the Market Next?
  • What's Next for FIT21?
    07:15
    What's Next for FIT21?
  • To enable the gallery, a user on the site has to stake 100 of the project’s native AUDIO tokens.

    The service marks an ever-so-slight departure from Audius’ strategy of playing to a broad audience without banking on crypto. Though it lives atop the Ethereum blockchain as a token-governed network, its founders and backers have found success, and adoption, by keeping the message on music found nowhere else.

    Nearly 160,000 listeners logged into Audius Wednesday to stream EDM mixes and underground rap tracks uploaded by the artists themselves. The platform eschews big labels but posts big numbers: 4.5 million unique users this month, according to on-chain data.

    But founders told CoinDesk the new function should appeal to nocoiners. 

    “These are people that have no idea what's going on from crypto perspective, but if you add in your NFTs as an artist to your artist profile, now all of a sudden your non-crypto fans can see this art, they can see these collectibles, and they can even potentially bid on them,” said Chief Product Officer Forrest Browning.

    Dillon Francis is a launch partner of the new Audius product.
    Dillon Francis is a launch partner of the new Audius product.

    He said Audius Collectibles does not intend to act as an NFT bidding platform. Instead, it aggregates NFTs stored on SuperRare, Zora, Catalog, Foundation, OpenSea, Rarible and KnownOrigin. Artists sign transactions with their wallets to prove they own the work, but no gas is involved as the NFT never moves wallets.

    Browning and CEO Roneil Rumburg said artists were asking for a way to show off their NFTs, in part because the buzzy digital collectibles offer them a potential revenue source at a time when gigs are hard to come by.

    “A lot of our artists right now, for good reason, are interested in NFTs. They’re making money at a time when they desperately need money,” Rumburg said.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.