Blockchain-Powered Music Platform Audius Announces Full Solana NFT Support

By Mansi Singh
Published September 3, 2021 Updated September 3, 2021
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Blockchain-Powered Music Platform Audius Announces Full Solana NFT Support

By Mansi Singh
Published September 3, 2021 Updated September 3, 2021

The blockchain-powered music sharing and streaming protocol, Audius, declared full integration with Solana NFT on Thursday. The platform will now enable its 6 million users to display, filter and sort Solana SPL NFTs along with ERC-20 NFT collectibles such as CryptoPunks, Bored Ape and others.

The integration will happen with the help of Solana’s multi-chain wallet and browser extension, Phantom. These brand new features will be available for Audius Silver Tier profiles and accounts that hold over 100 of the platform’s native AUDIO tokens at present.

Ronel Rumberg, co-founder and CEO of Audius, seemed optimistic about the Audius-Solana effort. He noted that the partnership will give Solana its prime “NFT discovery layer.”

“With the help of Audius integration with Phantom and Metaplex, it will be possible to ship Solana support while maintaining the usability bar that Audius is recognized for,” he added.

Audius rolled out the Solana NFT integration following the announcement of partnership with TikTok on August 16th. The TikTok partnership enables Audius users to share songs directly on TikTok for the purpose of making short videos. It is worth noting that since the launch of TikTok in 2017, it has become a hub of nearly 1 billion MAUs and is one of the world’s largest social media platforms.

The NFT Mania 

Non-Fungible Tokens have been on a tear lately. Whether it’s TRON founder Justin Sun paying $500,000 for a picture of some rock, or an amusing depiction of crazy looking penguins and bored apes, NFT space has built a great amount of speculative buzz surrounding itself in the social media cryptosphere. 

Very recently, the popular NFT project, CryptoPunks breached the $1.16 billion benchmark in all-time sales and became the second project after Axie Infinity to have accomplished such massive sales. Per NFT data aggregator CryptoSlam.io, Axie Infinity sales stand at roughly $1.7 billion.

The growth of NFTs on the Solana blockchain in recent times have notably pushed the cryptocurrency as part of the top 10 largest cryptocurrency by market cap with over $19 billion. Besides this, the project has also witnessed massive capital inflow from investors with plans to further develop its NFT Marketplace. Per digital asset manager CoinShares, Solana marked the largest capital inflow of  $7.1 million in the previous week, which is more than the inflows that occurred in any other crypto asset over the same time period.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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