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 the transactional processes within the platform, but the key mechanism is to visualize and represent an otherwise underserved market. For the first time in history, every song is tracked down to the smallest data point. This in-depth information is not only helping artists progress their careers but also understanding the real-world value of their music assets like never before. Opulous believes that music publishing companies, record labels, performance rights organizations, and other industry intermediaries have had too much power for too long.
Opulous, built by music industry specialists, will run on the blockchain to connect investors with artists needing a loan. Besides the security and efficiency advantages, two crucial elements make Opulous an ideal deployment for blockchain tokenization and smart contract utility. Tokenization has made working with digital assets like copyright much easier. Allowing Opulous to programmatically visualize the asset, along with the ownership splits and revenue chain tied to it. Loan terms can be written directly into smart contracts, a unique feature of blockchain, which execute these contractual obligations automatically. Royalties generated by the staked copyright can be immediately transferred to meet interest and monthly premium payments. Once the loan is paid back in full with interest, the copyright is automatically transferred back to the original owner. Institutional investors have flocked to buy up back catalogs of industry leaders. Something that only benefits those institutional players on both sides…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
