According to the IFPI's Global Music Report 2020, the global music industry market generated revenue of $202 billion in 2019, an increase of 9.7%.
The State of Digital Music
These data show that the market demand for digital music commercial rights is strong. Under the strong market demand, the development of the online music market has been criticised.
On the one hand, the monopoly of giants in the online music market is serious:
Super platforms occupy the core position of the online music ecosystem, and the three major
record companies of Universal, Sony and Warner even occupy 211.68% of the $6.<> billion in global music copyright revenue.
On the other hand, online music works are very easy to be copied and disseminated:
After many disseminations, the confirmation of copyright rights has become a major problem, resulting in frequent infringement incidents, and it is very difficult for individuals and platforms to protect their legal rights.
With the full popularisation of the Internet and the vigorous development of the self-media economy, it is difficult to standardise copyright transactions that are becoming more and more fragmented, it is difficult to effectively evaluate the value of creators, and the incubation of IP and derivatives markets is in a high-risk state.
In this vicious circle, everyone involved in the online music market suffers.
The income from copyright is low, the cost of rights protection is high, and the passion for creation is easy to be consumed, making it difficult for independent musicians to survive.
According to the "Survey on the Survival Status of Musicians and Copyright Awareness" released by the School of Music and Recording Arts of Communication University of China, 95% of musicians in China have zero income, nearly <>% of musicians work part-time, and <>% of musicians cannot make a living from music income alone.
For the platform:
Music rights are overspent and expensive to maintain.
For online music consumers:
As consumers, music fans are unable to participate in the platform economy ecology, and their enthusiasm for participation is limited.
The craze of blockchain NFT has swept the global art market, and the immutable and tradable nature of NFT has effectively improved the efficiency of the traditional art market, which has not only been recognised by crypto asset users, but also attracted a wider range of mass consumers.
However, for most artists or musicians, they don't know much about blockchain technology, or even if they have good works, they don't have the ability to put the copyright of their works on the chain and trade.
This requires a blockchain platform that supports the on-chain and trading of works copyrights.
Opulous is a music distributor and record service company Ditto Music that finances, lends and markets the financing, lending and trading platform of music copyright NFTs.
Ditto Music is one of the world's largest digital distribution and record labels with a large musician base.
Once Opulous is officially launched, it will help these musicians put the copyright of their works on the chain as NFTs, which can be financed and traded through this platform.
Opulous Key Features:
1. Financing platform
An NFT financing platform for music copyrights, which allows musicians to sell NFTs containing music copyrights in advance through the Opulous platform to raise funds.
Users who buy and hold NFT can get a revenue share of the music after it is on-demand on major playback platforms, which can support fixed-price sales and auctions. (The musician decides the quantity and price of the copyright sold, and the platform decides the form of sales)
2. Trading platform
An NFT trading platform that supports these NFTs containing music copyrights to be traded between different users.
3. Lending platform
There are two ways to borrow and borrow on P2Pool's lending platform:
The first allows musicians to pledge the copyright of the music (the off-chain contract stipulates that the Opulous platform will hold the copyright of the mortgaged music until the loan is fully repaid).
You can apply for a loan from the platform through the revenue forecast of music in the future for a period of time, and the borrowing limit is 50% of the predicted income.
The Opulous platform will review the qualifications and music copyrights of musicians, and the music assets that can be used as collateral must have a record of more than two years of playback income.
The holder of the second type of NFT can borrow money from the platform by staking the NFT:
Network: Ethereum & Algorand
Total Supply: 500,000,000
Project valuation: $25,000,000
Initial Circulating Valuation: $1,248,750
Total Financing (All Rounds): $6,450,000
Seed Round :
4% unlocked for M10, 10% unlocked for M10, and 10% unlocked every two months.
10% unlocked at TGE, released in 3 months, 10% unlocked every <> months.
10% unlocked at TGE, released in 3 months, 10% unlocked every <> months.
Private Sale 2:
15% unlocked at TGE and released in 2 months, 3% unlocked for M25 and 6% unlocked for M12&30.
SHO (Round 1)：
10% unlocked at TGE, vesting after 3 months, 10% unlocked every two months.
SHO (Round 2)：
50% unlocked at TGE, 7% unlocked at M50
From the perspective of Opulous's functions, the overall is relatively comprehensive, including financing, trading and lending, and in general, it is decentralised finance relying on music copyrights.
The launch of Opulous can directly bring decentralised finance to the music industry, changing the way musicians obtain the required funds to a certain extent, and providing a way for original music works to be chained as NFTs containing music copyrights.
Opulous solves these problems by using blockchain technology, and for creators, they can directly mint music copyrights into music copyright NFTs on the platform.
This allows creators to confirm their music copyrights, and obtain huge profits through NFT transactions, creating a new source of income for musicians.
For music fans, they are no longer consumers, but can buy a share of music copyright on the platform, obtain part of the music copyright income, and participate in the platform economy, in which Opulous's Token plays the role of a medium.
At present, Opulous has received investment from a number of institutions, including R3 and Algorand, and launched DaoMaker as an IDO at the end of June.
It can be seen that Opulous is based on the parent company Ditto Music, and has a solid foundation in the entire music industry.
With the launch and gradual development of the platform, it will surely become a leading platform in terms of music copyright NFT, with more musicians and music fans, including cryptocurrency investors, participating in it, and becoming a pivotal project for the entire industry.
Go live details
OPUL has been listed on Summit Exchange.
Open Deposits and Withdrawals: 1:12, January 10 (Beijing Time)
Open trading: 1:12, January 22 (Beijing Time)
Open trading market: OPUL/USDT
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