Binance Labs, the blockchain incubator, has become the lead investor in the decentralised streaming protocol Audius, which raised $1.25 million in funding.<\/p>\n
The startup is developing a platform for distribution, streaming and monetisation of audio content.<\/p>\n
Audius has 750,000 active users. Each month more than a million streams are published on the platform, with 100,000 tracks.<\/p>\n
The native AUDIO token is designed to secure the platform. It provides access to governance of the service and its additional features, such as gated content and artists’ tokens.<\/p>\n
\n\u201cWe want to create the future of streaming, in which artists can monetise their creativity, and active users will participate in the platform’s development,\u201d says the Audius team.<\/p>\n<\/blockquote>\n
To push decentralisation ideas further, Audius began collaborating with popular DJs deadmau5, 3LAU and RAC.<\/p>\n
\n\u201cBinance supports Audius in its drive toward mass adoption of cryptocurrency and blockchain,\u201d said Wei Zhou, head of Binance Labs.<\/p>\n<\/blockquote>\n
The funding will enable developers to advance the project concept and roll out new features in the coming months.<\/p>\n
Earlier in August, Binance Labs led<\/a> the $2.8 million funding round for the liquidity aggregator 1inch.<\/p>\n