A music service whose crypto token has shot up 932% this year is putting an FM radio tower on a DeFi gaming platform | Currency News | Financial and Business News

• Audius, which runs a tokenized music-streaming service, is integrating its library onto a DeFi gaming site.
• Audius has been called a Spotify rival by Rolling Stone Magazine.
• DeFi Land, a play-to-earn site, will soon launch to a broader audience.

Audius, a decentralized music-streaming service with the backing of Katy Perry and other high-profile musicians, has built an FM radio tower on a blockchain-based site, integrating its library of music on a gaming platform.

Gamers on the DeFi Land platform will have access to millions of songs on music from Audius as they spend time learning about decentralized finance on the play-to-earn site. That move should provide further exposure to the tokenized music model run by Audius, which was called a “Spotify rival” by Rolling Stone Magazine earlier this year.

The Audius streaming platform, which allows users to upload their music, aims to give artists a larger portion of streaming revenue than other services. Audius says it reaches more than 6 million users a month and that it’s owned and run by an open-source, worldwide community of artists, developers and fans.

Its audio token has surged during 2021 by 932%, with its price trading at $1.60 on Friday.

Singer Katy Perry, electronic music duo The Chainsmokers and rapper Nas this year contributed to a $5 million fundraising round for Audius. Saxo Bank’s cryptocurrency analyst Mads Eberhardt this month said labels and streaming platforms capture 75%-95% of revenue paid for listening to streamed music.

Meanwhile, DeFi Land, whose user base is currently capped at 800, is preparing to launch its site more broadly in the coming weeks.

“There are more than 2.5 billion gamers around the world,” said the DFL Erwin, founder of DeFi Land, in a joint statement with Audius. “Integrations like these are very valuable for mass adoption because they offer a unique user experience for easier and friendlier participation,” he said.