Web3 music platform Audius introduces NFT gating feature following Spotify
Audius, a Web3 music platform, announced a non-fungible token (NFT) gating feature to enable artists to release exclusive content to NFT holders. This feature follows recent news that streaming service Spotify is testing token-gated playlists.
Audius allows listeners to access exclusive content with NFT ownership confirmation
Artists who have released their NFTs on Audius can now “gate” their content so that only token holders of the corresponding collection can access it. To access B-sides, unreleased tracks, and other particular types of content, listeners can link their wallets to Audius and confirm their NFT ownership.
The decision to add this service was most likely inspired by Spotify. The e-commerce giant first introduced token-enabled playlists as a service at the end of February.
According to Forrest Browning, the chief product officer and co-founder of Audius, enabling deeper connections and interactions between fans and artists has been a big focus for the platform since day one. Browning stated that purchasing an artist’s NFT feels like a strong signal demonstrating being a superfan, but there will be many other ways to present this in the future.
Audius also aims to serve artists who are active members of the NFT community but may need their own NFT collections. If an artist holds an NFT or is familiar with another popular collection, such as the Bored Ape Yacht Club or CryptoPunks, they can use those NFTs to gate their content.
Fan engagement with TikTok partnership and tipping feature
In the past year, the company has launched a series of initiatives. These aimed to create a more interactive and rewarding experience for musicians and their fans on the platform. Two of the most significant efforts are the partnership with TikTok and the introduction of a tipping feature using the platform’s native token, AUDIO.
The integration of Audius with TikTok allows users to incorporate their preferred songs from the platform into their TikTok videos. This collaboration enhances the user experience by providing a more extensive music library and opens up new opportunities for independent artists to gain exposure.
Audius introduced the tipping feature in July of 2021, enabling listeners to tip their favorite artists using the platform’s native AUDIO token. This feature allows fans to directly support independent artists without having to pay high fees associated with traditional payment methods. Musicians can use the tokens to further their careers by investing in marketing, recording equipment, or touring expenses.