Audius (AUDIO), based on both Ethereum and Solana, has beaten Spotify and Apple Music to become the first music-streaming service to partner with social-media giant TikTok.

The Audius team revealed the collaboration in a Twitter announcement on Monday, stating: “We are so excited to be among the first TikTok Sounds partners”.

Users will now be able to share their music directly from the blockchain protocol into the popular social-media app “with one click”, according to a Rolling Stone interview with Audius co-founder and chief product officer Forrest Browning.

There are currently more than 100,000 artists with music on the Audius platform, including electronic music stars Skrillex and deadmau5, who stand to benefit from the extra exposure this partnership will bring.

TikTok currently has close to one billion users per month, and the social-media platform recently said that 75% of its active users discover new music through its app.

The benefit for AUDIO holders is perhaps less clear, although exposure from TikTok to the Audius platform ought to lead some of those billion monthly users down the crypto path to the dual-functioning governance and utility token.

No plans have been announced as yet by TikTok and Audius to monetise the activity of the in-app sounds through performance royalties.

The partnership is certainly a turnaround for TikTok, which decided to ban crypto promotional content in July, after a spate of relentless Dogecoin (DOGE) pumping from TikTok users presumably hanging on Elon “Dogefather” Musk’ every word.

At the time of writing, AUDIO is still pumping on the back of this news. It’s now up 72.5% in the past 24 hours and trading at US $2.76 – the highest level its seen since early April.

 

Also in the news

• Microsoft is exploring using the Ethereum blockchain in a new plan to help combat digital piracy, as reported by CoinTelegraph.

• Computer-chip producer Intel has revealed it owns a stake in Coinbase, having recently purchased 3,014 COIN shares, according to a Barron’s report.

• On its way to the moon, Dogecoin (DOGE), is stopping in via EPL football club Watford FC, which has signed the crypto as a sponsor for the 2021/22 season.

• Walmart appears to be the latest Fortune 500 company warming up to crypto, and is looking to hire a “cryptocurrency expert”, according to Bloomberg.

 

 

 

 

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