What is Uponly NFT?

Uponly is an NFT collection that has become the symbol of Cobie’s popular podcast and YouTube channel. These NFTs not only serve as digital art pieces but also function as digital identities providing exclusive access to Cobie’s content and community. Especially in the crypto world, Cobie’s NFTs hold significant value both as collectibles and as prestige within the community.

A Record Purchase

This purchase by Coinbase marks one of the highest-priced transactions in the NFT market to date. 25 million USDC, approximately 25 million US dollars, stands out as one of the largest amounts ever paid for a digital collectible.

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This transaction not only reflects the value of an NFT but also highlights Coinbase’s strategic moves in the Web3 and NFT space. This purchase reinforces the platform’s vision regarding digital assets and community engagement.

A New Era in the Web3 Ecosystem

Coinbase’s move demonstrates that NFTs are not only art pieces but also digital identities and community memberships that hold value. Such transactions can be considered important milestones in the evolution of the Web3 ecosystem.

Additionally, this purchase shows that the value of NFTs is determined not only by aesthetics but also by their role within the community and the exclusive content they provide access to. Coinbase’s strategic action offers important insights into the future of digital assets.

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Audius’ Goal 

Audius aims to eliminate intermediary structures (record labels, digital distributors, etc.) by connecting artists directly with listeners. This creates fairer revenue sharing, allowing artists to maximize earnings from their music. 

• Revenue Model: Audius directs 90% of platform revenue straight to artists, a much higher ratio compared to traditional music platforms. 
• TikTok Integration: Audius integrates with TikTok, enabling artists to add their music directly to TikTok’s library, increasing chances of viral reach. 
• PRO License Agreements: Audius secures legal ground by partnering with professional copyright organizations such as ASCAP, BMI, and SESAC. This lets artists publish music confidently. 

Team Overview 

• Roneil Rumburg: Experienced in blockchain and AI, previously involved in Bitcoin payment solutions, prominent crypto investor and entrepreneur. 
• Forrest Browning: Founder of StacksWare, recognized by Forbes as a successful entrepreneur under 30. 
• Raymond Jacobson: CTO 
• Julian Baker: Head of Design 
• Christina Rowland: Head of Operations 
• Clayton Blaha: Head of Partnerships 

Investors and Key Partners 

Audius has raised $6.25 million from prominent investors including General Catalyst, Lightspeed Venture Partners, and Pantera Capital, along with significant support from Binance Labs. This strong backing solidifies its financial and technical foundation. 

Project Concept 

Audius bridges the music world with digitalization and crypto, creating a direct link between artists and fans. Its decentralized nature removes intermediaries, enabling artists to increase income while fans access music for free or at low cost. Songs are secured with immutable blockchain timestamps. 

How Does Audius Work? 

Audius serves three main user groups: 

• Node Operators: Run content and discovery nodes. 
• Artists: Upload music, manage content nodes, and control access with encryption keys. 
• Listeners: Access and interact with content on the platform. 
• AudSP Protocol: Audius uses the Audius Storage Protocol (AudSP) to store and share music files in a decentralized manner. 
• Stablecoin Support: Audius supports stablecoin payments, reducing volatility risk. It enabled USDC stablecoin support on Solana blockchain, allowing fast, low-cost transactions and purchases of digital products. 
• Node operators handle content storage, indexing, and distribution. The system auto-reconnects nodes on failure, maintaining decentralization and security. Users earn AUDIO tokens as rewards for performance. Artists and fans can stake AUDIO tokens to gain additional benefits. 

Roadmap 

• 2018: Project founded. 
• October 2020: Mainnet launched with live concerts by deadmau5 and RAC. 
• 2021: Rapid user growth and platform virality. 

Future: Scaling platform, expanding NFT integration, introducing new revenue models, and improving user experience. 

Use Cases 

• Artists share music directly. 
• Fans access music free or at low cost. 
• AUDIO tokens enable platform transactions, rewards, and node operation. 
• NFT showcasing and staking supported. 
• Offers decentralized, censorship-resistant music ecosystem. 

NFT Integration 

• Audius integrates NFT technology to offer new revenue and engagement opportunities for artists and fans. Artists can: 
• Tokenize tracks or albums as NFTs. 
• Create exclusive content, access rights, or limited digital products. 
• Offer unique experiences or digital collectibles to fans. 
• This empowers artists with greater control and direct fan support. 

Audius Collectibles 

Audius Collectibles let artists showcase NFT assets on their profiles. Fans can view, explore, and interact with these collections. Collectibles may provide exclusive content or perks, boosting loyalty. The feature supports decentralized, transparent NFT experiences. 

Token Information and Market Data 

• Token Name: AUDIO 
• Total Supply: 1.34 billion AUDIO 
• Market Cap: Approximately $86.53 million 
• Max Supply: Unlimited 
• Blockchain: Ethereum (ERC-20) and partial Solana integration 

Token Economics 

AUDIO is an ERC-20 token on Ethereum with no max supply limit. Distribution is: 

1. Investors: 36% 
2. Founders, team, advisors: 40.6% 
3. Open Audio Foundation Treasury: 17.8% 
4. Early adopters/artists airdrop: 5.5% 

Tokens power transactions, content uploads, rewards, and governance votes. Staking AUDIO grants rewards and platform benefits. 

Governance 

AUDIO holders vote on technical and community changes in the Audius protocol. 

Ecosystem and Highlights 

Audius stands out in decentralized music streaming by giving artists transparency and control, while enabling direct fan interaction. 

Key features include: 

• Decentralized architecture removing intermediaries. 
• Over 100,000 artists on platform. 
• High-quality 320 kbps streaming free to users. 
• User-friendly interface requiring no blockchain knowledge. 
• Immutable timestamped content protection. 
• Audius Collectibles NFT integration. 
• AudSP decentralized storage. 
• 5+ million active users in 2021; 7.5 million streams in April. 
• Supported by Binance Labs, General Catalyst, Lightspeed, and Pantera Capital. 

Social Media & Communities 

• Website
• Twitter
• Telegram
• Discord

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