Is TikTok open to cryptocurrencies?
In an announcement made official on Monday, Audius said it had been integrated into the famous TikTok platform for the creation of a new feature called TikTok Sounds.
According to an interview with Forrest Browning, co-founder and product manager of Audius, this addition will allow users to export songs created with the protocol to TikTok with one click. At the time of writing, the social network has almost 1 billion users.
📢 Announcing the Audius TikTok integration! 📢
You can now share your tracks directly from Audius to TikTok!
Follow and tag us in your videos using an Audius track for a chance to win 50 $ AUDIO.
Official TikTok → https://t.co/mP0BKOjzRV pic.twitter.com/3ydBQq3GzL
– Audius 🎧 $ AUDIO (@AudiusProject) August 16, 2021
With this news, Audius claims to seek to take advantage of blockchain technology to reward content creators and increase the transparency of payments to artists.
However, the integration with TikTok seems to be more about music than spreading a message about cryptocurrencies or decentralized finance. Moreover, Browning specifies that approximately “95% of Audius users have no idea that the blockchain is even involved”.
For the moment, the company TikTok has not communicated in any way on this agreement and this integration should not be equated with a partnership between the two companies. This would have been somewhat surprising, given the recent decision of the social network to ban promotional content based on cryptocurrencies.
In the wake of this announcement, the price of AUDIO, the governance token of the Audius project, more than doubled. Within hours, the asset’s price rose from around $ 1.6 to over $ 4, an increase of 150%.
Evolution of the AUDIO price following the announcement – Source: TradingView
At the time of writing, the price of the AUDIO token seems to have stabilized around $ 2.8.
👉 To discover – SushiSwap’s MISO: a “white hat” hacker avoids a hack of 350 million dollars
Receive a recap of crypto news every Sunday 👌 And that’s it.
About the Author: Lilian Aliaga
Freelance writer located between Paris and Toulouse. I want to share my passion for the world of cryptocurrencies with as many people as possible. I am also interested in technical analysis and trading.
All articles by Lilian Aliaga.