Opulous Development Update: February 2023

Opulous
6 min readFeb 9, 2023

We’re thrilled to announce that we’re in the final stages of launching Phase 3 of our full platform, which is set to go live this quarter. Our dedicated team has been working tirelessly to bring our game-changing products to life, and we’re confident that 2023 will be our biggest and best year yet!

Starting in February, we’ve kicked off a new era of artist announcements and have informed our community that as of February 23rd, anyone who joins the OPUL Staking Pool will accumulate tickets for a chance to participate in the MFT Early Access raffles. Once the platform launches, the excitement will only continue to escalate, with even more artist announcements and establishing a strong network effect.

In this development update, you’ll receive the latest information on our progress and a sneak peek at some of the innovative features and improvements you can look forward to when the platform launches.

Topics we’ll be exploring include:

  • Music Rewards
  • OPUL Staking Pool v3
  • New Raffles
  • Phase 3: MFT Launchpad
  • Website Update
  • MFT and NFT Distributions

So sit back, grab a cup of coffee, and prepare to discover the exciting future of our platform. We can’t wait to share it with you!

Music Rewards

At the end of 2022, we reached a significant milestone by successfully completing our first round of Music Rewards, which covered the MFT drops of “Mona Lisa” by Lil Pump & Soulja Boy and “Patek Myself” by Ard Adz. To receive these rewards, you must hold MFTs in your wallet. If you still need to do so, please visit our Music Rewards blog for instructions on how to claim your MFTs.

In the meantime, our development and artist teams are working on the next batch of Music Rewards, including KYLE’s “It’s Not So Bad” and other previously mentioned artists. The distribution will start in April 2023.

In addition, we are excited to announce that in early Q2 2023, we will be introducing a new “Analytics” section. This feature will allow MFT holders to delve even deeper into statistics and track the number of streams and downloads on each platform every week.

OPUL Staking Pool v3

We’re thrilled to announce the launch of our OPUL Staking Pool v3 at the start of 2023.

This pool has been upgraded to be faster, more efficient, and more user-friendly. Staking and un-staking are effortless, and you can do it without worrying about expiration, as the pool will be open indefinitely. You can stake OPUL to earn up to 15% APY and earn raffle tickets to apply for Raffles. There is nearly 70M OPUL in the new pool.

Arriving next in our OPUL Staking Pool, we will introduce a widget allowing users to easily buy OPUL from our platform and stake directly into the pool. Our previous pools no longer reward APY or tickets to compete in Raffles. If you have tokens staked in our last pools (v1 & v2), we recommend you move them to the new one. For more information, check out our blog or reach us at support@opulous.org.

New Raffles

The start of 2023 saw the launch of brand new rewards in our Raffles, such as Winter Swag Packs and OPUL Airdrops. It gets even better, as we have brand new raffles arriving this month!

Get ready! Starting February 23rd, we will be offering opportunities to secure early access to our upcoming MFT drops for announced artists.

We anticipate that our future sales will be highly exclusive and competitive, so early access will be the only chance to get in before anyone else.

If you want to secure a place in one of our exclusive upcoming MFT drops, joining our OPUL Staking Pool v3 and accumulating raffle tickets is crucial.

We also have exclusive limited merchandise from amazing partners, including Algorand Foundation, Pera Wallet, and more. There’s so much in store for our community, and we can’t wait to share more information with you!

All of these exciting updates are to arrive in Q1, 2023.

Phase 3: MFT Launchpad

The next key element of the MFT ecosystem arriving in our full platform launch will be the MFT Launchpad.

This crucial component will allow us to offer MFT drops directly from our platform. It will significantly impact our growth as we can make more frequent sales and have a more streamlined process for delivering MFTs to our community.

We have been busy building all the components for our MFT sales, and we can confirm they’re almost finalized and undergoing a final round of testing. Our team has been working hard to provide a seamless and intuitive experience for our community. ​​

At the same time, we are integrating the best payment solutions to make the purchasing process more convenient, including a secure and reliable payment gateway that will offer a wide range of payment options, such as crypto (OPUL, USDC, ALGO, etc.) and FIAT. These essential components will ensure quick and safe transactions, providing a top-notch experience for our users. The MFT Launchpad is expected to go live at the beginning of Q2 2023.

MFT Exchange

We are working diligently to build our upcoming MFT exchange. It will allow MFT holders to easily trade their MFTs for OPUL.

We are partnering with a third party on this project and will announce the partnership in the coming months. The MFT Exchange will launch shortly after the MFT Launchpad in Q2 2023.

More exciting updates to follow here!

Website Update

Arriving with our MFT Launchpad, to celebrate, we will be updating our website with fresh and vibrant new branding. We will implement new designs, terminology, pages, and areas for our community to enable a better user experience and take their journey with Opulous to a new level.

We will also be opening artist applications so musicians of any size can reach out to us directly and begin applying for MFT drops throughout the year. We expect our submission portal to be busy, and we’re looking forward to onboarding as many amazing artists as possible.

We are also developing a “Dark Mode” feature to enhance the user experience for those who prefer a darker color scheme. The updated website, including the Dark Mode feature, is expected to go live in conjunction with the launch of our MFT Launchpad at the beginning of Q2 2023.

MFT and Artwork NFT Distributions

We are working with our partners at Securitize to distribute MFTs every week. If you have yet to start claiming, we advise you to do so; otherwise, you will miss out on music rewards.

The only way to claim your Artwork NFTs is by holding your MFTs in your wallet. We have sent out multiple communications to those who have yet to claim their MFTs, and this will be the last time we distribute Artwork NFTs. Please check out our Music Rewards blog and see the section about claiming your MFTs.

Artwork NFT distributions will commence in the middle of February 2023, and we will send more updates via WeFunder, Republic, and email updates.

A message from our CMO, Fernando Cruz

“We’ve experienced great success with Opulous in the past year, and now, we’re ready to take it even further! Our MFT Platform is primed for tremendous growth due to its potential to integrate crypto-savvy users and those looking to expand their understanding of cryptocurrency. As our team continues improving and creating more robust tools that maximize user experience, we’re confident that we will increase our reach and impact even more people!”

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Opulous

Opulous is building game-changing music products transforming how artists gain funding and connect with fans!