Opulous is the spin-off from distributor Ditto that announced plans to launch a decentralised finance (DeFi) loans scheme for artists, before expanding into music NFTs. Now, as part of its $6.45m fundraising efforts on the Dao Maker platform, it has published more details about its plans. Opulous is starting with NFT sales for some hand-picked artists, before opening up its tool to more musicians.

Meanwhile, it will be finishing its platform for DeFi loans, before opening that up more widely too. According to its roadmap, the DeFi launch will be in Q4 2021, with its full NFT Exchange launch following in Q1 2022. This will all be funded by selling 500m of the company’s ‘Opul’ tokens, with a project valuation of $25m.

There is also some detail on the rewards for fans buying NFTs created by artists with Opulous. “Fans and investors will not only receive royalty payments, but also be able to unlock other exclusive rewards, such as backstage passes, gig tickets and merchandise, simply by sharing the music on social media…”

Music Ally’s next Learn Live webinar will help you understand what’s required for artists to thrive in new international markets!

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Stuart Dredge

Music Ally's Head of Insight

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