Opulous is Providing Artists with Music Copyright-Backed NFTs

January 13, 2022, 10:20 AM AEST - 4 days ago

The days of signing bad deals with unfair terms are a thing of the past – artists no longer need to sell their souls to greedy record companies in order to get their music out into the world.

Opulous is a new blockchain-based music platform built for creators and investors. It is addressing the biggest challenge facing artists in the music industry today: raising capital.

Opulous allows fans to bankroll their favourite artists by harnessing the power of DeFi. They can also benefit from music sales as part copyright owners, thanks to NFTs.

Opulous brings Decentralised Finance to the music industry, changing how artists access the funding they need and providing a launchpad for the first music copyright-backed NFTs.

opulous.org

Artists Retain 100% of Copyright, Fans Share in Earnings

How will Opulous help artists? Based on historical data, Opulous calculates an artist’s future earnings and offers loans based on that forecast, while allowing the artist to retain 100 percent of their music’s copyright.

By implementing NFTs, Opulous makes it possible for artists to split up the ownership of their music into tokenised shares and offer them directly to fans. This means fans can invest in the artists they love and financially benefit themselves through earnings made from sales.

The Opulous model provides a monetary incentive for fans to help further an artist’s career and encourages them to promote the artists they have invested in. The more successful the artist is, the more money the fan makes, through royalties paid out every month.

Opulous model explained. Source: Opulous

Crypto investors can buy and stake OPUL tokens with the reassurance and trust that their investment is backed by actual real-world assets. Watch the video below to learn more about how Opulous works:

$OPUL Rewards and Staking

After Opulous launches this month, you can stake OPUL to earn more OPUL. The video below explains how the Opulous dashboard works. Read more about how to stake OPUL and earn more OPUL on the Opulous medium.

NFTs are playing a major role in reshaping the music industry. The technology is revolutionising the payment structure for artist royalties and making it possible for artists to receive a larger (and fairer) cut of sales while maintaining ownership of their own brand and product.

Innovative music platforms harnessing the blockchain offer exciting features that directly benefit artists and fans alike: a virtual touring company called Animal Concerts is bringing live music events to the metaverse, and music streaming platform Audius is the largest decentralised consumer blockchain application, with a roster exceeding 100,000 music artists. The future of music looks bright.

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