TikTok partners with crypto-powered music streaming platform Audius

Published at: Aug. 16, 2021

Music-sharing protocol Audius became one of the first streaming platforms to partner with TikTok, allowing users to directly share tracks to the popular app.

In a Monday announcement, Audius said it had partnered with TikTok in the creation of a new feature called TikTok Sounds. According to a Rolling Stone interview with Audius co-founder and chief product officer Forrest Browning, the integration will allow users to export songs created with the protocol to TikTok with one click, in an effort to streamline the process.

Though Audius claims it seeks to leverage blockchain technology to reward content creators as well as increase transparency on payouts to artists, the integration with TikTok seems to be more about the music rather than pushing messages about cryptocurrency or decentralized finance. According to Browning, roughly 95% of Audius users “have no idea that blockchain is even involved.”

Approaching 1 billion monthly active users, TikTok reported in July that 75% of its users based in the United States discover new artists through the app. Audius now has roughly 5 million monthly active users after an October launch, with many of its governance tokens allocated to creators based on the number of streams they generate. TikTok does not currently allow users to receive performance royalties from streaming music but instead offers opportunities for exposure and engagement with fans.

Related: Trading apps usurp TikTok in popularity

The integration is somewhat of a surprising move for TikTok, given the app’s decision to ban cryptocurrency-based promotional content as well as “the promotion of all financial services and products” in July. Many users learned about the meme-based cryptocurrency Dogecoin (DOGE) from TikTok videos making the rounds last year.

Tags
Music
Business
Cryptocurrencies
Social Media
Partnerships
Related Posts
Huobi Global now supports ruble deposits and withdrawals
Major global cryptocurrency exchange Huobi is introducing Russia’s national fiat currency on its trading platform. According to a Jan. 12 announcement, Huobi Global now supports deposits and withdrawals in the Russian ruble. The new feature enables users to purchase and sell major cryptocurrencies like Bitcoin (BTC), Ether (ETH), Tether (USDT), and Litecoin (LTC) for rubles. Other supported coins include EOS, Bitcoin Cash (BCH), Ethereum Classic (ETC), Bitcoin SV (BSV), DASH, as well as two Huobi-backed tokens like Huobi Token (HT) and Huobi Pool Token (HPT). To add ruble support, Huobi partnered with AdvCash, a fiat and crypto payment processor. The …
Bitcoin / Jan. 13, 2021
Music Video Director for Pop Superstars Dives Into Crypto Trading
Joseph Kahn, a music video director who has worked for the world’s leading pop stars for over two decades, has announced that trading crypto assets is his new favorite hobby. After claiming to have spent the past month trading cryptocurrency, Kahn purports a profit of roughly $450 On June 1, Kahn took to Twitter announcing that he has spent the last month trading crypto assets. A screenshot shows Kahn’s portfolio to be valued at $7,949, with the hobbyist trader claiming to have gained 6% since investing $7,500 one month ago. Kahn claims to have mostly “cashed out” at present, with …
Music / June 1, 2020
One Crypto Youtuber’s Banning Nightmare Still Not Over
While many other accounts have seen reinstatement shortly following their bans in recent days, YouTube has still not brought the CrytptosRus channel back to life. It has now been three weeks since the channel creator's original petition for reinstatement. "My channel is still banned," CryptosRus host, George, told Cointelegraph in an April 28 email, adding that YouTube has not updated him on the situation. "I appealed the decision three times now," he said. YouTube bans for days The social video platform banned and flagged a large number of high profile crypto YouTube accounts in December 2019. Many accounts saw restoration …
Technology / April 30, 2020
Steemit to Shift Its Proprietary Blockchain and Token to Tron Network
The Tron Foundation, a cryptocurrency firm that is known for hyping its long ledger of partnerships, appears to have entered a particularly important one today. The maintainer of major cryptocurrency Tron (TRX) has just partnered with Steemit, a major blockchain-based blogging and social networking website to provide its network for Steemit services. Steemit old token STEEM to move to the Tron blockchain, too As part of the strategic partnership, the Tron Foundation will work with the firm to move Steemit and other Steem blockchain-based decentralized applications (DApps) to the Tron blockchain, the firms said in an announcement shared with Cointelegraph …
Adoption / Feb. 14, 2020
US consumer watchdog probes crypto firms over deceptive ads
Several crypto firms are facing a probe from the United States Federal Trade Commission (FTC) over possible deceptive or misleading advertisements relating to cryptocurrencies. According to a Dec. 6 report from Bloomberg, FTC spokeswoman Juliana Gruenwald said the watchdog is investigating “several firms for possible misconduct concerning digital assets.” Gruenwald did not provide further details about which firms were the subject of the investigation or what had triggered the probe. However, deceptive advertising and promotion have been a trending topic in the U.S. this year. In October, reality TV star Kim Kardashian was fined by the United States Securities and …
Regulation / Dec. 6, 2022