“Opulous is a new decentralized music platform that seeks to bring good, sustainable business practices back into the music world.”
The “music nfts” is a project that uses the NFT technology to create music. The project has seen an increase in popularity as it rose by over 500% in 24 hours.
While many people still believe that NFTs’ use cases are limited to rare photographs, one project has been making inroads into the tokenization of the music business since the beginning of September, with an exponential increase of over 1000 percent in less than a month.
Opulous (OPUL) is a DeFi initiative that focuses on how musical artists may utilize their musical rights as assets. The “groundbreaking NFTs will produce monthly royalty money and rise in value as an artist’s career advances,” according to the company’s website.
Making sense of Opulous’ rapid ascension
The value of OPUL, the project’s native token, had plummeted to as low as $0.635 at the end of September before soaring to a new all-time high of $7.60 on November 15. Not only that, but its trade volume increased by 564 percent to $24 million.
According to available data, the sale of the first-ever NFT on Opulous contributed to the recent rapid rise in the OPUL price.
The protocol recently launched its Security NFT(S-NFT) sale in collaboration with musicians like as Lil Pump and Soulja Boy, who sold their song “Mona Lisa” as an S-NFT and raised $500,000 in only a few hours.
Our S-NFT sale of @lilpump & @souljaboy’s ‘Mona Lisa’ has officially ended, so we’ve gathered all the important details you’ll need.
See what’s coming up next: https://t.co/dEpjYerviu#MonaLisaWeek $OPUL pic.twitter.com/pUEQ6CwrEV
November 5, 2021 — Opulous (@opulousapp)
The mentioned NFT was designed in collaboration with the Republic as a distinctive token to symbolize fans’ contributions in artists’ music. Contributors can mint S-NFT tokens on the Opulous website after Republic has completed all of its tasks. Wallets holding S-NFTs would subsequently be able to collect royalty payments in USDC quarterly from the artists’ song views across all platforms.
Another factor contributing to the token’s price rise is its cross-chain capabilities and support on major decentralized exchanges such as PancakeSwap and Uniswap, as well as centralized exchanges like as KuCoin and Gate io.
@gate io has launched a new staking pool!
$OPUL staking https://t.co/9kgTReY5ig pic.twitter.com/Cc1zU3Gh3e $OPUL $ALGO
November 12, 2021 — Opulous (@opulousapp)
To sum up, the emergence of Opulous is inextricably linked to the sustained popularity of NFTs in recent years. If you look at Google’s keyword search results, you’ll see that “NFT” ranks higher than Dogecoin, Blockchain, and Ethereum.
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- nft for music
- nft sales
- selling nft