The majority of DeFi’s major tokens recorded losses within 24 hours, in contrast to Audius tokens, a centralized platform for music streaming, AUDIO which garnered the highest profits in the last few hours.
A surge in more than 1000% occurred shortly after Binance announced it would list AUDIO. Since then the token recorded a loss of -17.31% and traded at $ 0.22.
Based on Binance Labs 'strategic investment in Audius' decentralized platform, the AUDIO surge will continue with an estimated value of $ 1.25 million.
Audius is a centralized protocol, allowing its users to disseminate and make a profit through the content of uploaded music. This means that musicians have full control over their music without reliance on recording companies.
However, the platform is still in its infancy and needs more users with widespread application.
Due to that, the platform has the potential to get unlicensed music from some singers like Ariana Grande and Ed Sheeran due to the concept of unlimited access.
This means that such content cannot be removed by Audius or any other party.
Based on the report, Audius has received requests from several recording companies due to its features that can avoid the legal impact by submitting the centralized protocol rights.
