Binance (BNB) invests $ 1.3 million in decentralized streaming platform – Cryptocurrencies

Blockchain Brings New Notes to Music Industry with Audius Audio Streaming Platform (ADC).

Changpeng Zhao may have wanted to become a producer or DJ as a child. Binance (BNB) has invested more than $ 1 million in Audius.

A $ 10 million Audius

Funding cycles of the decentralized audio streaming platform Audius, would have raised nearly 10 million dollars.

The most recent saw the participation of the exchange Binance, through its branch dedicated to investments and incubations.

According to an October 23, 2020 press release, Binance contributed $ 1.25 million to the last round of investment.

Multicoin and Blockchange Ventures had both invested $ 3.1 million in July 2020.

Other major players, like Pantera and Coinbase Ventures, have also invested in Audius during these funding cycles.

The CEO and co-founder ofAudius, Roneil Rumburg, said these funds will be used to help artists expand their audience.

Great music on Ethereum

Created in 2018, Audius is a decentralized audio streaming protocol intended to facilitate transactions between listeners and artists.

Audius was designed by renowned creators in the music industry: the Portuguese-American musician based in Portland RAC, the Canadian producer Deadmau5 and the American DJ Justin david blau.

The project’s white paper states that the content registry forAudius is the result of the fusion of smart contracts on the blockchain Ethereum (ETH), And different elements of the protocol work on other blockchains.

Audius launched its native token, theAudio Coin, beginning of October 2020. The token gives access to security and configuration functions, and allows participation in governance.

Blockchain technology is attracting more and more players in the music industry. David Guetta had recently entered into a partnership with the virtual reality platform Sensorium Galaxy.

$ 10 million raised: an amount that certainly sounds like a sweet melody to the ears of Audius executives. Is Audio Coin intended for speculation, beyond its role as a governance token? The platform must now avoid any false notes to attract the maximum number of users for its token. Ethereum is never far away when it comes to projects with real utility. More details are awaited on the range of services Audius will offer.


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