Kriptoks

Opulous (OPUL) is a cutting-edge platform designed to provide artists in the music industry with access to much-needed funds, enabling them to create and innovate without worrying about the financial barriers. One of the most significant problems artists face in the music industry is acquiring capital, which limits their artistic growth and potential. With Opulous, artists can overcome these obstacles and take control of their financial future.

Traditional capital lending systems for artists often require them to trade their music rights to access funds, which can be an undesirable loss for the artists. Moreover, artists find it challenging to secure loans even after establishing themselves in the industry, as their music copyrights are not considered valuable collateral. Opulous seeks to revolutionize the traditional lending system by bringing decentralized finance (DeFi) to the music industry, providing artists with a transparent, secure, and decentralized platform to access funds.

Opulous leverages the performance data of artists on various music platforms to predict their future performance and issue loans based on their predicted earnings. This approach enables artists to keep their music rights while allowing cryptocurrency asset holders to stake their assets backed by the artists' past and future records. The platform also plans to provide a launchpad for the first music copyright-backed NFTs, allowing artists to split their ownership into multiple pieces and trade it directly with fans. This way, both the artist and their fans can benefit from the artist's growth and success.

The Opulous NFT Launchpad is built on Ethereum, providing artists with an efficient and secure way to validate and store their assets on the blockchain. Additionally, the platform's DeFi component is built on Algorand Blockchain, a permissionless, proof-of-stake protocol. With smart contracts, Opulous facilitates agreements and royalty share income splitting, providing a transparent and secure platform for all parties involved.

Opulous has its native OPUL token used for all transactions within the platform. The token runs on Ethereum and Algorand Blockchain, and users can acquire it using Ethereum (ETH), stablecoins, and traditional currencies. With the launch of the DeFi component in Q1 2022 and the Music NFT exchange in Q2 2022, Opulous is set to revolutionize the music industry by providing artists with a transparent and secure platform to access the funds they need to create, innovate and thrive.

The platform's senior team consists of four members, with the founder and CEO, Lee Parsons, at the helm. Opulous was launched in Q3 of 2021, with the first official music NFT trade taking place shortly after the platform's launch. With a mission to empower artists in the music industry, Opulous is set to transform the traditional lending system and provide artists with a more transparent, efficient, and equitable financial platform to pursue their creative endeavors.