In the evening of February 23, music platform Web3 Audius stated that it will continue to collaborate with TikTok, today’s most popular video social network. Users can create a new Audius account within the integrated framework by linking to their TikTok account. Users moved their personal information and verification status from TikTok to Audius with this straightforward transaction. Furthermore, social media users inherit Audius’ music store and utilize it in TikTok movies they generate.
Forrest Browning, CPO and creator of the music platform, expressed excitement ahead of this integration event since it would draw many TikTok influencers. Audius and TikTok initially teamed in August 2021 to create TikTok Sounds. The platform users may now post music generated using the protocol to TikTok thanks to the integration. The price of AUDIO on Audius has just increased by a factor of four, which brought the token’s market capitalization to more over one billion US dollars. The price of the stock, however, responded significantly after the second news of the agreement was made public, just as it did the first time this occurred.
But, in most cases, such gain cannot be maintained over the long term, and at the time of this writing, AUDIO was selling for around $0.33. In September of 2021, the Web3 music platform successfully closed a $5 million financing round. A number of industry celebrities, including Katy Perry, Nas, and Chainsmokers, participated in the funding of this round.
It would appear that TikTok is gradually shifting its focus and making several efforts to enter the blockchain sector, notably the NFT segment. This well-known site for short videos debuted its NFT collection the following year, in October of 2021.
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