Audius users get tool to tip favourite artists

The blockchain-based platform introduced the feature this week as part of its “broader efforts to be the leading artist-first network in the music space.”

“The tipping tool is just the first monetisation feature,” Audius co-founder and chief product officer Forrest Browning said. “Since we launched Audius, our north star has always been to empower artists to monetise their work on their own terms.

“Today, we arrive at the first landmark in our monetisation roadmap: tipping. I’m really excited to release this feature – it’s a crucial stepping stone along the road to a monetisation landscape that truly gives artists financial and creative independence.”

The new tool will enable fans to show their appreciation or give support to their favourite artists by tipping using $Audio tokens. The company has said it plans to introduce other ways to tip that do not require tokens.

To popularise the initiative, the platform has created a tipping leader board to showcase community members’ “generosity”.

Audius co-founder and CEO Roneil Rumburg said: “We’re creating new ways for our 7 million active monthly users to show their favourite artists how much they appreciate their work. But this is just the first piece of monetisation; in the coming weeks and months we look forward to expanding on monetisation with more options for fans and artists alike.”

Founded in 2018, Audius is home to 250 000 artists who have released about 1 million tracks on the platform.

“A lot of experiments have been run over the years to evolve the music industry’s business model,” Rumburg said. “But we’ve yet to see a platform that strikes the right balance, improving the music experience for the parties that matter most: artists and their fans.

“Audius is laying the groundwork for a new era, where artists reclaim control over their work and their earning potential, all the while giving fans a closer relationship to the music they love. Tipping is a small first step in this direction, and we are so excited for music lovers to see what is ahead in our road map.”