The market for nonfungible tokens, or NFTs, has grown exponentially over the past year. Now, users of Audius will be able to feature NFTs from the Solana ecosystem in addition to Ethereum.

Blockchain-based music streaming platform Audius announced Thursday that it had launched full Solana NFT integration, allowing its more than six million users to begin featuring digital collectibles from the Solana library.

The integration will occur through Phantom, Solana’s multichain wallet and browser extension. The new features will be available to Audius’ silver tier profiles, accounts holding more than 100 of the platform’s native AUDIO tokens.

Roneil Rumburg, Audius’ co-founder and CEO, said the partnership gives Solana its first “NFT discovery layer,” adding that:

Tooling from Metaplex and the Audius integration with Phantom made it possible to ship Solana support while maintaining the usability bar that Audius has become known for.

As Cointelegraph reported, Metaplex is an NFT marketplace that launched in June on the Solana network. Several celebrities and businesses endorsed it at the time.

Audius, meanwhile, has been in the headlines after it announced a new partnership with TikTok, the popular social media platform. The partnership allows Audius users to share songs directly on TikTok for the purpose of creating short videos. Since launching in 2017, TikTok has become one of the world’s largest social media platforms, boasting nearly 1 billion monthly active users.

NFTs have permeated mainstream consciousness thanks to high-profile celebrity endorsements, multi-million-dollar collections and a growing recognition that digital collectibles are the future. NFT sales reached $900 million in August alone, easily shattering the previous monthly record set in May at $255 million.

Investors are shelling out millions of dollars on CryptoPunk NFTs and are even paying high six-figure sums for pet rock collections centered around Ethereum. As Cointelegraph recently reported, this year's iHeartRadio Music Festival in Las Vegas this year features an NFT giveaway.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Ethereum price action gets boring as wETH insolvency concerns spike

Ethereum price action gets boring as wETH insolvency concerns spike

Ethereum price shows a lack of volatility as it hovers above a crucial support level. A move to the upside is unlikely until it overcomes another significant hurdle. Therefore, ETH continues to consolidate, awaiting a signal from BTC.

More Ethereum news

Three altcoins to watch this week: Dogecoin, Crypto.com and Litecoin

Three altcoins to watch this week: Dogecoin, Crypto.com and Litecoin

Despite Bitcoin's bearish price action throughout November, several altcoins have served profitable opportunities for traders to engage in.  Within the Crypto market, DOGE, LTC and CRO all show potential for more uptrend rallies.

More Dogecoin news

Why Cardano price floating around $0.30 is not a good look

Why Cardano price floating around $0.30 is not a good look

Cardano price is in a conflicting situation. While hopes for a Santa rally linger amongst crypto enthusiasts, ADA's monthly performance points to further negative returns. Cardano price has the community watching closely.

More Cardano news

Why Algorand price could continue to pack on negative returns in December

Why Algorand price could continue to pack on negative returns in December

Algorand price continues to pack on negative returns for November. As the final days of the month approach, knife-catching bulls are skimming through all digital assets looking for a last-minute opportunity.

More Algorand news

Bitcoin: Assessing chances of one last bear market rally for 2022

Bitcoin: Assessing chances of one last bear market rally for 2022

BTC is in a good place to trigger another bear market rally from a high-time frame perspective. This development, combined with the optimistic outlook seen in on-chain metrics, further strengthens the possibility of a happy ending to 2022.

Read full analysis

BTC

ETH

XRP