Showcasing NFTs with Audius Collectibles
You can now display & distribute NFTs on Audius via Audius Collectibles!
Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles
Dear Bankless Nation,
How people access and view your NFTs is a big deal! The easier the better, of course, both for creators and collectors.
So that’s why it’s quite interesting that decentralized music project Audius just launched Audius Collectibles.
Audius’s bread and butter is music streaming. Yet with Audius Collectibles, creators can now distribute and curate their NFTs in the same place they distribute and curate their music.
This is great for users, and it likely foreshadows what many platforms will do in the years ahead. Let’s take a closer look in today’s Metaversal 👇
-WMP
🙏 Sponsor: Nifty Gateway—buy, sell, and store NFTs!
Bringing NFTs to Audius
More than a few musicians in the cryptoeconomy are big fans and users of Audius, Ethereum’s darling decentralized music streaming protocol.
For context, Audius now boasts 4.5M monthly users and +245k daily song plays, which is a clear indication that this community-owned, artists-first alternative is becoming an early bustling hub for music done differently.
One of the most interesting things about Audius is that its position along and within the Web3 tech stack makes the project well positioned to give its users what they want, i.e. tools of empowerment, when they want them.
That said, as many musicians have been turning to NFTs lately to experiment and connect with their listeners like never before, it became clear to the Audius team its users could hugely benefit from dedicated NFT support. So that’s where the new Audius Collectibles system comes in!
Audius Collectibles, Your NFT Showcase
Instead of having to point people to external NFT platforms, Audius artists and users can now easily showcase their NFT creations or prized NFT collectibles directly on their Audius profiles.
This allows creators to distribute their NFTs in the same place they distribute their music! 💎🎶
Notably, Audius Collectibles currently supports NFTs from:
OpenSea
SuperRare
Rarible
KnownOrigin
Foundation
Zora
To actually showcase your NFTs on your profile, you simply connect your wallet on Audius and sign transactions to select which items you want to highlight. This opt-in style is great for curation, as your profile won’t be inundated by a sea of all the NFTs you own and will only display what you want it to!
What’s interesting as well is this new NFT system helps drive value to $AUDIO, the Audius platform token, which in turn helps the Audius ecosystem go ‘round and thus supports the project’s stakeholders.
That’s because Audius offers tiered services depending on how much $AUDIO users hold. Out of the gate artists with Silver Tier accounts, which means they hold at least 100 $AUDIO, can use Audius Collectibles. So the demand to use NFTs on Audius is now contributing to the demand for $AUDIO, which in extension supports the entire project.
As for what’s next, it’s safe to assume Audius is going to keep innovating and bringing novel services to their creators. In a blog post last month the project noted that its nimbleness and composability with Web3 infrastructure was its biggest edge:
“Building off VIP Tiers and our plans for NFTs, Audius will look to support whatever meaningful creator tools make their way to crypto. Built as a blockchain-based protocol, Audius has the potential to integrate any and all Web3 tooling that supports next generation ownership models. This is an advantage Audius has that no one else in the world does.”
Action steps
💽 Check out any artist’s Collectibles dashboard on Audius (RAC’s page, for example).
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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.
This is awesome news