What is Opulous (OPUL)?
OPUL is the native token of Opulous, which is a platform that aims to help artists in the music industry access funding they require with ease. The platform is built on Ethereum and Algorand. It allows music creators to post their work on the platform, while investors can support their favorite artists and own pieces of their work through Music Fungible Tokens (MFTs).
MFTs are unique tokens issued only by Opulous. They essentially are like NFTs but each MFT represents a certain music track. Owners of MFTs have the right to a share of the revenue from these music tracks. Though artists get to keep their music rights.
Besides, with the help of data on the artists' performance on music platforms, Opulous predicts their performance over the next 1–2 years and issues loans based on that.
The three main products of Opulous are:
- Opulous Launchpad. It allows investors to buy MFTs from the artists they love.
- Opulous Exchange. It allows the trading of MFTs.
- Music Advances. A funding platform for artists.
The OPUL token is used for all transactions within the platform. You can check the current OPUL price on the Opulous price chart above. Though the main use case of Opulous tokens is staking. By staking the tokens, investors get early access to exclusive MFTs and other benefits.
Who Founded Opulous?
The Opulous crypto project was founded in 2020 by Lee Parsons. Lee is also the co-founder of Ditto Music, which is a software and music startup that has helped over 500,000 unsigned musicians.
Other leading Opulous team members are Miles Carroll (CEO), Fernando Cruz (CMO), and Jay Moore (CIO).
Tokenomics of OPUL
The total supply of OPUL tokens is 500,000,000. The Foundation Reserve holds 17.8% of the total supply, while the seed round received 10%. Moreover, the private sale received 12.8%, while strategic partners got 0.7%.
The remaining tokens were distributed among the DAO Maker pre-sale (0.4%), DAO Maker sale (3.2%), TrustSwap sale (2.6%), advisors and partners (5%), team (12.5%), liquidity pool (17.5%), and ecosystem (17.5%).
If you plan to invest in Opulous crypto assets, don't forget to analyze the Opulous price chart above. Knowing the current and the previous OPUL price is beneficial while deciding on your future purchases.
