Rising blockchain-based streaming platform Audius has seen some massive growth this year. The service now boasts over four-and-a-half million active monthly users and its in-house cryptocurrency token, $AUDIO, has become more valuable than ever.
With the rising popularity of NFTs, or non-fungible tokens, it only seems natural that Audius' next big move would be to breach into the space. That's exactly what the streaming platform is now set to do after Audius announced its newest feature, Audius Collectibles, today.
Audius Collectibles will make it possible for artists to showcase and merchandise their own unique NFTs through the platform, providing a direct-to-fans approach. The goal is to make Audius the go-to platform for artists to showcase all of their music-related activity in the web3 ecosystem, including NFTs.
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This will be achieved through a concept called the "Audius Passport," a mechanism built to bridge the gap between Audius and the web3 ecosystem, making any user's Audius identity usable anywhere they (and third party developers) see fit, granting them access to the wider world of cryptocurrency outside of the platform.
The service has also promised the debut of NFTs from over 10 major artists that will coincide with the launch of Audius Collectibles.
For more information, check out Audius' official blog post.