Opulous is the blockchain-based spin-off from distributor Ditto Music that launched earlier this year, initially as a decentralised finance (DeFi) scheme for artists, before expanding into selling music NFTs with artists like Lil Yachty.
Now the company is exploring that area further through a partnership with Republic. No, not the major label imprint (imagine!) but a company that runs a startups investment platform.
The two firms will be working with artists Lil Pump and KSHMR to sell ‘S-NFTs’ – a term they’ve coined (it stands for Security NFTs) to describe NFTs that are sold as ‘securities’ under US financial regulations. And, like a growing number of music NFTs, these ones will include a share of the artists’ future streaming royalties.
Lil Pump is kicking it off by offering shares in his next single, as part of a dedicated Republic Music offshoot. Slogan: “Turn your playlist into your portfolio.”
The most 2021 of phrases, for better or worse…