Audius (AUDIO) Is Up 145% Following TikTok Partnership News

Market data shows Audius AUDIO/USD skyrocketed on the back of recent major partnership news, raking in three-digit percentage gains over the last 24 hours.

What Happened: According to CoinMarketCap data, Audius saw its price take off by over 145.4% from its 24-hour low of $1.6086 to a high of $3.9478 before settling at $3.37 as of press time. The news follows recent reports that Audius partnered with video-based social media behemoth TikTok.

Audius is a blockchain music streaming app Audius that already counts famous artists such as Skrillex, deadmau5 and Weezeramongi its users. Audius' co-founder and chief product officer explained that — thanks to the partnership — any artist can now "take a song they already have on Audius and just export it over to TikTok in one click."

Most Audius creators are not directly paid for the traffic that they generate through music streaming. Instead, they are provided with the infrastructure that they need to monetize their music themselves while also being rewarded for contributing to the platform with AUDIO tokens.

The platform was initially launched on Ethereum-based ETH/USD platform POA Network POA/USD, but then moved to Solana SOL/USD due to the network's higher scalability and cheaper, faster transaction processing capabilities. Audius also reached 5 million monthly users last week.