Audius and its cryptocurrency AUD (AUDIO) is a protocol for musicians and their audience. The main goal of the project is to make it simple and convenient to send music from authors to their fans and to send donations in the opposite direction. At the same time anyone can distribute their creativity, as well as earn from it (if it turns out to be interesting to people) in this network.
Let's take a closer look at Audius, and consider the prospects of the project and the AUD cryptocurrency prices.
The founders of the project are two entrepreneurs from California. The first, Roneil Rumburg, is best known as the co-founder of a large fund investing in blockchain and AI companies.
The second founder, Forrest Browning, is a Forbes 30 under 30 recipient for his role as co-founder of a successful enterprise data processing platform. In addition to them, the company employs more than 20 people, ranging from programmers to music producers.
In a simplified way, Audius works as follows:
- Artists release their music. It is free for them. Moreover, the music is streamed in high quality, similar to the popular services like Spotify.
- Fans of the musicians get to know their work. They can do this for free, too. But at the same time, they have the opportunity to directly support the artist financially. To do this, they need to buy AUD cryptocurrency and send it to the musician.
- The functionality of the system is ensured by lots of nodes. These are network elements located in different parts of the world. In fact, these are the servers where the content is stored. Due to the large number of nodes, the network is decentralized, which increases its reliability.
Some time ago, Audius "moved" to Solana blockchain, the benefits of which you can learn from our other article by following this link. Since then, the project has become even more functional, fast and reliable.
The AUD coin, traded under the ticker AUDIO, has the following uses:
- Sending donations to musicians. If a listener wants to support their idol releasing music through the Auduis network, they will have to use AUD cryptocurrency to do so. Accordingly, this will require buying it at the current price.
- Voting on development of the project. Using the network's native coins, you can take part in its improvement and enhancement.
- Support for the system itself. There are many ways to spend AUD cryptocurrency to help develop Audius. For example, you can buy exclusive features or send funds to pools from where they are distributed to the most popular artists. This, in turn, attracts musicians willing to make money. And with them come new users starting to learn Audius.
Based on these factors, a clear conclusion can be drawn. If the Audius project itself is successful, then the price of the AUD cryptocurrency will also grow. Conversely, if it begins to lose popularity, the value of the coins will fall.
In the open market, that is, in free sale, when anyone can buy cryptocurrency AUD, it appeared a little over a year ago. Therefore, it's impossible to track the long-term price change - there is information only for the end of 2020 and for 2021.
However, even since the beginning of this year, the coin has grown. On January 1, 2021, the price was around $0.16. Then, during the year, it reached the $3 mark three times. And once, the AUD cryptocurrency price even exceeded $4.
Despite the fact that the coin is trading at around $1.44 at the time of writing, even now it is almost 10 times more expensive than it was a year ago. And the luckiest users, or just those who analyze the market well, sold their coins for 25 times more than they bought them.
Most experts agree that the project is promising and will gradually develop and expand its audience. Therefore, in the long run, investments in it are likely to multiply dozens of times. Despite the possible risks, a large number of users have already managed to buy AUDIO cryptocurrency, as this is what led to the growth of its value.
Currently, every beginner in the crypto market can easily and quickly buy the digital assets of interest. However, this procedure should be approached with maximum responsibility. There is a risk of stumbling upon a fraudulent platform, which will block the account after depositing the funds, or will not allow you to withdraw the acquired coins.
The best choice for a beginner can be a licensed exchanger like Broex. The platform works with the approval of the Estonian regulator - this is the country where the company is registered. The official license allows users of the exchanger not to doubt its trustworthiness and reliability, and to be sure that their digital assets won't vanish.
Let's consider other merits of Broex, which make it a great way to buy cryptocurrencies - even AUD, BTC or any other:
- Custodial Wallet. By trusting Broex to store your assets, you'll avoid the hassle of setting up and mastering a cryptocurrency wallet. At the same time, you can access your purchased coins 24 hours a day through your personal account.
- The minimum deposit is 1500 rubles. You can buy your first coins even for a small amount to check how everything works.
- Website and mobile app. Enter Broex from any device. The smartphone app is as handy as the web version, so you can buy and sell digital assets anytime and anywhere.
- Minimal commissions. From 0.1% per transaction. In some cases, there are no commissions at all - Broex strives to offer the most favorable cooperation terms for users.
Also, Broex has technical support working 24/7. If you have any difficulties using the exchanger, or just have a question, you can get detailed advice in Russian.The site is friendly to newcomers and glad to help new market participants master it.
All this makes Broex a good choice to buy AUD cryptocurrency. We recommend registering right now - it's easy and won't take more than a couple of minutes.