How Web3 Empowers Artists and their Fans with Roneil Rumburg of Audius
Join Alex Tapscott and Andrew Young as they decode the world of DeFi with special guest Roneil Rumburg, CEO and Co-Founder at Audius. Listen in as they discuss Roneil’s ride to founding Audius, how music consumption has evolved from traditional forms, $AUDIO’s tokenomics, critical considerations for Audius’ three-sided marketplace, what’s in store for Audius’s future, and more!
Audius is a Web3 streaming platform that empowers musical artists to develop fanbases and monetize their work without relying on record deals. Supported by renowned artists like Steve Aoki and The Chainsmokers, Audius offers high-quality audio streaming at 320 kbps, unlimited uploads, and unique content, all free of charge for its 7,000,000 monthly fans and over 250,000 artists, making it among the largest crypto applications ever built. By using its native cryptocurrency token, $AUDIO, artists can earn rewards, while holders can stake tokens to help secure the platform and run nodes. As a decentralized alternative to subscription-based services, Audius puts artists and fans first, providing a modern and open music streaming service. Roneil is a seasoned Web3 entrepreneur and investor; he co-founded Kleiner Perkins’ early-stage seed fund, investing in companies like Lightning Labs, and attended Standford University, where he co-founded Bitcoin peer-to-peer payment company Backlash.
Tune in to the 87th DeFi Decoded episode to hear Alex, Andrew, and Roneil discuss all things Audius and how they are leading the transformation of traditional music streaming platforms. How is Audius different from typical music streaming platforms like Spotify, and what challenges does it solve for musical artists’ monetization efforts? What are the tokenomics encompassing AUDIO, and how has Audius leveraged them to help bootstrap its network effects? How has Audius achieved such sustainable growth in its user base since its inception, and which crypto aspects have helped support this expansion?
