Audius
About Audius
The price of Audius (AUDIO) is $0.12286781 today, as of Sep 08 07:16 a.m., with a 24-hour trading volume of $6.07M. Over the last 24 hours, the price has increased by 2.10%. Audius currently has a circulating supply of 1.25B and a market cap of $154.03M.
Audio is the native token of Audius, a decentralized streaming service built on Solana.
Listening to music is free, and artists who trend on the platform earn audio tokens as a reward.
Audio launched at the end of 2020 at about 19 cents. The price of the token spiked to $4.07 in March 2021, but had swiftly cratered to 73 cents by July of that year. A second surge in August brought the token to $3.20.
When the crypto market collapsed, so did audio, which fell to about a dollar by March 2022. Conditions further worsened when UST collapsed in May. Amid the ensuing chaos, audio fell to 46 cents.
Although Audius is based on Solana, audio is an ERC-20 Ethereum token. It also trades on Solana as a wrapped Ethereum token – it is converted from an ERC-20 token to a Solana variant through the multi-chain bridge, Wormhole.
Audio launched with an initial supply of 1 billion tokens. According to data from Messari, 36% went to investors; Audius raised $3.1 million in a venture round and $5.5 million in a Series A.
The founders and the project reserved 40.6% of the initial supply, and 23% went to pre-mined rewards and airdrops. Audius increases the supply by 7% each year, with new tokens issued weekly, although its maximum supply is capped at 1.1 billion.