Opulous Review by Jesse

Opulous Review by Jesse

Well, it would appear that the market is starting to bounce back as we lead our way into the holiday break for many of you out there. This week we’re finally seeing multiple projects above 50% gains with Avalanche, Yearn Finance, Spell, and Terra leading this week. While Bitcoin shows a slight recovery moving 10% today alone, we’re still not out of the woods yet with all the FED FUD brewing in the background. This week we’ll be looking at a new concept to recently hit the blockchain space by mixing DeFi and Music contracts and turning the music industry on its head with Opulous. 

Introduction

Opulous is a tool for the music industry that recognizes the value of royalty rights and backing entrepreneurial artists with the financial tools to grow. Through tokenization, the platform will leverage an otherwise illiquid asset, giving artists and other industry bodies the clout they need to raise finance. Financing restrictions drove recorded music’s business model in the 20th century. Labels would sign acts, provide funding, and recoup their investment by taking a share of the copyright attached to a recording. With few alternative ways to get the cash needed to, say, record, invest in gear, or promote material, the majority of artists were beholden to this centralized set-up. As the world’s first peer-to-peer finance platform backed by real-world music copyright assets, Opulous will give industry entities access to financial products, like loans and high-interest accounts, that have previously been denied to them. Predictable royalty earnings become the basis to offer loans, and catalog ownership provides the collateral value. Meaning artists who in the past would have been overlooked will qualify for loans. Further token functionality will drive