A new platform will bring music to DeFi via Algorand (ALGO)
February 4, 2021
The platform will use Algorand s technology to connect artists seeking loans with investors.
Opulous is the first DeFi project ever to use music copyrights as collateral for loans.
Algorand (ALGO) is a high-speed blockchain that recently revealed that its technology will be used to power a new, upcoming platform called Opulous. The platform will use Algorand to connect music artists with investors, thus bringing music to DeFi.
Opulous brings a new way for artists to get funding
From what is known, Opulus is a P2P music service and payment protocol, which is going to try and help artists access their capital without intermediaries. Essentially, it is a crypto project aimed at the music industry, which wishes to push decentralized finance among artists and music stars.
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First ever decentralised finance offering backed by music as an asset class
LONDON, Feb. 1, 2021 /PRNewswire/ Ditto, the award-winning global music distribution and record label services company, which has processed more than $1 billion in royalties to date, has today announced
Opulous: a pioneering peer-to-peer platform to help increase artists access to capital without the need for traditional institutions such as banks.
The first-ever decentralised finance (DeFi) offering backed by music as an asset class, Opulous will function as a loan pool which artists can borrow from and also contribute to. For those artists looking to borrow money, the loan is guaranteed against the artist s past streaming revenues with the copyrights they own held as collateral. Meanwhile, artists, and other investors, will also be able to pay into Opulous Music Copyright Pools, earning 10% per annum on any contributions they make.
The harsh reality about the music business, and a pantomime led by clueless self-regarders.
January 19, 2021
John Nicolson MP chose not to explore user-centric licensing at the DCMS Committee, at David Joseph s invitation. Instead, he suggested major record company heads should feel ashamed
Here it is. Amongst all the industry-wide debate over equitable streaming payouts, this has cracked it. Finally, a truly revolutionary idea that ensures an actual fair share of the billions of dollars Spotify makes goes to every artist.
For starters, let’s stop arguing about what royalty share record companies should take from their individual contracts with artists. Let’s just cut those suckers out altogether. You read right: let’s kill the majors! Nighty night you million-dollars-an-hour machines!