{"id":50915,"date":"2025-03-10T11:09:11","date_gmt":"2025-03-10T11:09:11","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=50915"},"modified":"2025-03-10T11:09:11","modified_gmt":"2025-03-10T11:09:11","slug":"audius-in-the-end-of-2024","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=50915","title":{"rendered":"Audius in the end of 2024"},"content":{"rendered":"

It didn\u2019t even take a year, so to speak, but better late than never (better for\u00a0whom?).<\/strong><\/p>\n

Introduction<\/h3>\n

Another year has flown by unnoticed, despite all the events that took place in the industry. It must be admitted that it was truly eventful: from the overall market recovery to unexpected trends like memes and AI agents, which became truly\u00a0HUGE.<\/p>\n

The Web3 music sector also kept moving forward. By the end of last year, one of its key players remained\u00a0Audius.<\/p>\n

Unfortunately, due to a number of factors, I wasn\u2019t able to actively cover the project\u2019s development on my X throughout the year. However, now I have the opportunity to take a closer look at all the changes that have happened to this project, which has already become familiar to us, over the past\u00a0year.<\/p>\n

And I\u2019d like to start with a broad but very important topic\u200a\u2014\u200ahow Audius made its way into all the key market narratives. Alright, fair enough, the team didn\u2019t create an AI agent that writes music and transfers royalties directly to your bank\u00a0account.<\/p>\n

Catching Trends<\/strong><\/h3>\n

The year 2024 was marked by Solana\u2019s dominance\u200a\u2014\u200aranging from meme coins and AI agents to more traditional DeFi protocols like Drift and Jupiter. The growth in user base, TVL, and fees leaves no doubt about the competition: ecosystems of other networks, including Base (where Audius competitors are developing), are either nonexistent or lagging\u00a0behind.<\/p>\n

Audius didn\u2019t stay on the sidelines either. It was a real revelation for me how successfully and timely the project integrated into this year\u2019s key\u00a0trends:<\/p>\n

Full transition to Solana.<\/strong> For artists and users not deeply involved in technical details, a clear explanation of this transition was provided, along with a simple demonstration of how things work \u201cunder the hood.\u201d Many musicians welcomed this move positively and shared their impressions on\u00a0X.Airdrop from Jupiter.<\/strong> Audius users began interacting with Jupiter after the introduction of the \u201ctipping\u201d system, implemented via Link by Stripe back in November 2022. Those who supported artists during the bear market were rewarded for their generosity. Additionally, thanks to Jupiter, users were able to export their private keys to Phantom and Backpack wallets, further expanding their access to the Solana ecosystem.The Farcaster trend.<\/strong> Audius didn\u2019t miss out on the Farcaster hype and registered on Warpcast. In 2024, an educational campaign was also launched on the Layer3 platform, where users could earn rewards for exploring Audius: creating an account, connecting a wallet, listening to tracks, and subscribing to artists\u200a\u2014\u200abasic actions that increased the project\u2019s visibility in this new ecosystem.<\/p>\n

For the First Time in Three Years\u200a\u2014\u200aAbout\u00a0Me<\/h3>\n

I finally filled out my profile properly. Though I have a suspicion that it had already been completed before\u200a\u2014\u200aphotos and personal info seemed to disappear from time to time. A minor issue, of course, but I don\u2019t visit the platform just to update my details every\u00a0week.<\/p>\n

I\u2019m pleased with myself because I finally uploaded something relevant. That \u201csomething\u201d turned out to be my best demos from eight years ago\u200a\u2014\u200atracks I never had the courage to finish and\u00a0release.<\/p>\n

Just like on Spotify or Apple Music, plays didn\u2019t magically appear on their own, meaning I haven\u2019t yet gotten a \u201ctaste\u201d of royalties. There are probably ways to promote music here\u200a\u2014\u200athe classic approach through social media and local networking. Still, this has been a valuable experience that pushed me to take more decisive steps in my creative\u00a0journey.<\/p>\n

What About Everyone\u00a0Else?<\/h3>\n

2024 was filled with big names: some EDM giants continued their activity on the platform, while others joined in. One of the most notable events was Lil Pump\u2019s debut\u200a\u2014\u200ahe entered the Solana ecosystem in his signature style.<\/p>\n

Since I make electronic music, here are some artists who particularly stood out to me. Some go beyond dance music, so you might even find some familiar names\u00a0here.<\/p>\n

List (not in alphabetical order, but in the sequence I discovered them):<\/h4>\n

Dombresky, Henry Fong, Dirty Audio, Snavs, RAC, Bitbird, Alex Kunnari, Black Hole, Zyra, RL Grime, Unlike Pluto, Above & Beyond, Jayceeoh, MorganJ, Barong Family, VINAI, Lil Pump, Flosstradamus, San Noel, Disclosure, Trivecta, Firebeatz, San Holo, Tom Budin\u200a\u2014\u200athese artists and labels were, in one way or another, part of Audius in 2024.\u00a0Solid!<\/p>\n

More Than Just Streaming<\/h3>\n

Engaging with the audience and motivating users was also at a high level. Last year, the platform hosted numerous activities\u200a\u2014\u200afrom remix contests to studio meetups with top\u00a0artists.<\/p>\n

One of the biggest highlights was the remix competition by Trivecta and Luttrell<\/strong>, where the grand prize included an official release of the winning remix, music software, and a cash\u00a0reward.<\/p>\n

Among the mentor meetups, one of the most memorable was a trip to Tokyo, where participants had the chance to work in the studio with none other than MadeinTYO<\/strong> and collaborate in the same room with Kato Producer<\/strong> and\u00a0B.o.B.<\/strong><\/p>\n

Additionally, there was a competition in partnership with industry giant R\u00d8DE<\/strong>. The most streamed tracks, along with those selected through community voting, were rewarded with a true workhorse\u200a\u2014\u200athe legendary R\u00d8DE NT1<\/strong> microphone.<\/p>\n

These contests are a great contribution to the project\u2019s development and, hopefully, to the careers of the\u00a0winners.<\/p>\n

Updates for Musicians<\/h3>\n

Of course, there were also major improvements in the most crucial aspect for musicians\u200a\u2014\u200afinances<\/strong>. The Audius team made significant efforts in this area, so let\u2019s go into\u00a0detail:<\/p>\n

Collaboration with Phantom solved two problems at once.
<\/strong>First, for many Solana degens who spent the year aping into memecoins and AI agents, there was a small issue\u200a\u2014\u200adust tokens that had lost 99% of their value. Now, there\u2019s a great way to put this \u201ctrash\u201d to use: it can be converted into stablecoins and used to buy tracks directly! No need to visit Jupiter, look for contracts, or deal with slippage\u200a\u2014\u200ajust select \u201cPay with anything,\u201d and the transaction goes through in seconds. All the magic happens under the\u00a0hood.\u201cCash Out\u201d function.
<\/strong>Now, earnings on the platform can be withdrawn directly to a card or a Phantom wallet. This provided a great opportunity for battle-hardened musicians to ride the Solana ecosystem hype\u200a\u2014\u200awhether by investing in memecoins and AI agents or, hopefully, just paying rent or subscribing to their favorite\u00a0plugins.Album sales.
<\/strong>A long-awaited feature that seemed like it should have been available ages ago\u200a\u2014\u200abut better late than never! Previously, albums could be uploaded, but now it looks like artists can set a fixed price for full album purchases.
A good lesson for me: I should follow the project more closely throughout the year rather than diving into the details at the last\u00a0minute.Simplified tipping system.
<\/strong>Supporting artists is now easier\u200a\u2014\u200ait can be done directly through X (Twitter)! Thanks to a third-party app, users simply connect their wallet, enter the musician\u2019s X handle (synced with Audius), and send a tip in just three\u00a0clicks.\u201cPay-to-Unlock\u201d feature.
<\/strong>In the second half of the year, another interesting mechanic appeared. Artists now have full control over how they release their music, including setting any price they want.
Buyers can pay in their preferred currency (conversion happens automatically) or with crypto.
10% of each sale goes into the Audius Treasury. Sounds like a win-win for both artists and the platform.<\/p>\n

A Few More Changes to Add Some Crunchy Dollars to Your\u00a0Card<\/h3>\n

In addition to major financial updates, the protocol has introduced a few more significant innovations:<\/p>\n

Scheduled Releases.
<\/strong>Just like on Web2 streaming services, you can now set a release date in advance. A simple but incredibly useful feature that all users will surely appreciate.Support for Lossless Quality and STEM Files.
<\/strong>Artists can now upload their music in pristine quality and attach STEM files. This opens up new opportunities for remixes and educational projects, as well as serving as an additional source of\u00a0income.cNFT Integration (Supported by HeliusLabs).
<\/strong>Users can now link exclusive content to NFTs on Ethereum and Solana. Simply connect your wallet (e.g., Phantom), and if you own the required NFT, you\u2019ll get access to exclusive music tied to the collection.Licensing Agreements with PROs (ASCAP, BMI, GMR, SESAC).
<\/strong>One of the most significant steps forward is partnering with performance rights organizations (PROs). This collaboration removes restrictions for signed artists and expands monetization opportunities on\u00a0Audius.<\/p>\n

\ud83d\udd39 How does it work?<\/strong>
When creating a track, two types of rights\u00a0arise:<\/p>\n

Master rights<\/strong>\u200a\u2014\u200atypically owned by the\u00a0label.Composition rights<\/strong> (copyrights for lyrics and melody)\u200a\u2014\u200amanaged by the publisher.<\/p>\n

Signed artists cannot independently decide where to sell or stream their music\u200a\u2014\u200athis is regulated by their label\/publisher. Thanks to PRO deals, signed musicians can now earn directly through Audius without manually redistributing income.<\/p>\n

\ud83d\udd39 What does this mean for the Audius ecosystem?<\/strong><\/p>\n

More licensed music on the platform.Expanded geographic reach (due to PRO\/CMO coverage).Entry into the U.S. market, where authors and publishers will now automatically receive royalties from Audius\u00a0streams.<\/p>\n

This is especially important considering that as recently as November last year, Audius was just beginning to secure its first deals with labels. Now, the partnership with MRI for rights administration is a key element in ensuring proper revenue distribution and simplifying monetization.<\/p>\n

The more publishers and labels that join Audius, the more of their music will become available in PRO-covered regions, strengthening the platform\u2019s market position.<\/p>\n

Conclusion Based on My Favorite\u00a0Metric<\/h3>\n

Luckily, not this time. Honestly\u200a\u2014\u200aI didn\u2019t even check. Does it really matter? Of course, I won\u2019t underestimate the impact if Skrillex and Deadmau5 fully switch to Audius, but one thing I do know for sure is that the project is moving in the right direction and isn\u2019t dependent on whether Zedd uploads a second track to the platform.<\/p>\n

I was pleasantly surprised by the changes within the project and by how the team responded to market events. Audius made it through the bear cycle, kept building, and focused on solving truly important issues. 5\u00a0stars.<\/p>\n

This year, I\u2019ll try to be more engaged, highlight interesting moments on time, and use the platform more actively as an\u00a0artist.<\/p>\n

Make it\u00a0happen!<\/p>\n

Audius in the end of 2024<\/a> was originally published in Coinmonks<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>","protected":false},"excerpt":{"rendered":"

It didn\u2019t even take a year, so to speak, but better late than never (better for\u00a0whom?). Introduction Another year has flown by unnoticed, despite all the events that took place in the industry. It must be admitted that it was truly eventful: from the overall market recovery to unexpected trends like memes and AI agents, […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-50915","post","type-post","status-publish","format-standard","hentry","category-interesting"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/50915"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50915"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/50915\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}