To a surprise for many, the TikTok network has decided to partner with renowned music streaming platform Audius. The music streaming platform already used by artists such as Skrillex, Deadmau5, The Stafford Brothers, 3LAU, Alina Baraz and others. As the co-founder of Audius and director of development Forrest Browning pointed out; the vast majority of the service’s customers do not know that it uses blockchain technology.
Music sharing platform Audius was the first to partner with TikTok. This made it possible for customers to directly exchange music tracks.
Yesterday, representatives of the Audius platform announced that they are now partnering with the network with TikTok and have developed a new feature called TikTok Sounds. As Forrest Browning pointed out; this integration will enable each client to export tracks created using a function in TikTok with a single click.
“The process of uploading songs to TikTok pretty complicated today”, explained Roneil Rumburg, co-founder and CEO of Audius. “To avoid it, some artists bring their phones up to laptop speakers and dub the sound for TikTok. With Audius integration, musicians who have content on Audius can put it on TikTok with a single click”.
It is worth noting that Audius representatives emphasize that they are using blockchain technology to reward those who create content and to increase the transparency of payments. Therefore, the partnership agreement with TikTok is related specifically to music content, and not sending messages about cryptocurrencies and exchanges. As Browning emphasized, almost all users of their platform are unaware of the fact that blockchain is used for work.
TikTok will remove crypto ads ban?
As of October 2020, TikTok had about 732 million active users worldwide, and this latest official figure has likely continued to rise amid the pandemic. According to Audius estimates, the number of TikTok users has exceeded 1 billion. In turn, TikTok indicates that more than 75 percent of US customers learn about new artists through the application. In addition, TikTok does not allow its users to receive rewards for streaming music content, but instead invites them to interact with their fans.
Why did Tik Tok decide to enter into a partnership agreement with the Audius platform, because it has a ban on all advertising content related to cryptocurrencies? The ban has not yet lifted, perhaps it decided to gradually expand the functionality for its customers. Maybe TikTok is thus preparing its customers for the fact that the bans will soon be relaxed.
In any case, both parties benefit from such an agreement, platform users have more opportunities to communicate with each other. Most likely, this will lead to an increase in the total capitalization of sites due to the expansion of functionality.
Note that the price of the Audius token (AUDIO) has grown by 90% over the past 24 hours.