Opulous Development Update: October 2022

Opulous
6 min readOct 3, 2022

It’s been another action-packed month here at Opulous and there are no signs of slowing down as we continue rolling out our full ecosystem.

September saw us complete critical stages of our roadmap, including further MFT and artwork distributions.

We’ve seen an incredible response to Phase 1 of our ecosystem rollout, with over 65m TVL currently being staked in the OPUL Staking Pool. Everyone staking their tokens is also earning raffle tickets that can be applied for Opulous Rewards, slated for launch on October 6th. On top of this, we released an OPUL Utility Update, honing in on all the different use cases arriving in with the ecosystem — to showcase how OPUL is key to everything we’re building.

Phase 2 of our full ecosystem launch is set to begin in October. Much-anticipated music reward payments for MFT drops from Lil Pump, Ard Adz, and Kyle are all confirmed and ready to go.

We know many of you have been waiting for this MFT rewards distribution, so we’d like to thank you all for your continued support and patience. We’ll be announcing the launch date for Phase 2 in the coming weeks, so keep your eyes peeled!

In this month’s development update, we’ll be highlighting:

  • Opulous Rewards
  • Phase 2: Music Rewards
  • MFT, Artwork, and Perk Distributions
  • Further ecosystem developments

Opulous Rewards

Get ready #OPULFAM as Opulous Rewards launch this Thursday, October 6th!

Our community is the backbone of everything we’re building, so it’s time you were rewarded. We’re kicking things off with BIG prizes like a paid trip to Dubai for Algorand Decipher, Opulous Swag Packs, and more.

But that’s not all. There are more special prizes being cooked up behind the scenes, including NFTs with special utility for our upcoming platform. More to come on that very soon!

If you want to grab some Opulous Rewards for yourself, you’ll need to accumulate raffle tickets by joining our OPUL Staking Pool.

Phase 2: Music Rewards

This is what you’ve been waiting for! Everything is now ready and we’re about to begin distributing music rewards from our MFT sales.

It’s taken a little longer than expected to get here, so we’d like to extend a huge thank you from the entire team to our amazing community. We really appreciate the support you’ve given us!

As many of you know, what we’re building at Opulous is brand new. And with anything new, we’ve faced our fair share of unforeseen challenges and obstacles. However, over the course of the past 9 months, we have been working with our partners around the clock to get everything ready for Rewards Distributions.

In your Rewards dashboard, you’ll be able to see a direct breakdown of earnings across your MFTs, including which stores and locations are performing best. You can get stuck into all of the juicy data and really understand where the plays are coming from!

In the analytics section, you’ll be able to take a deeper look at the statistics from each digital streaming platform the releases are being played on. It’s a great way to analyze historical data to see which weeks have outperformed others and spot trends.

You’ll be able to instantly withdraw your earnings in USDC. And because we love the OPULFAM so much, we’re going to match your total USDC earnings so far equally in OPUL token payments. So for every dollar, you’ve earned from your first batch of music rewards payments, you’ll receive the same value amount in OPUL.

More info on phase 2 of our full ecosystem roll-out will be released in the coming weeks before we launch later this month!

MFT, Artwork, and Perk Distributions

September was a busy month for MFT, artwork NFT and perk distributions — with many of you already successfully starting the process!

So far we have completed the first issuances for:

  • Mona Lisa MFTs
  • Mona Lisa Artwork NFTs
  • Ard Adz MFTs
  • Ard Adz Artwork NFTs
  • Ard Adz Perks
  • KYLE MFTs

The only distribution we have left is KYLE artwork NFTs and perks!

We’re aware that some people have been unable to claim MFTs. This is only because a few users used different email addresses for each sale resulting in multiple accounts being created for identity checks. This prevented Securitize from using the same wallet address twice for the transactions needed for the distributions. We are working with Securitize right now to merge users’ accounts so that all assets can be sent to the correct wallet address.

If you’ve experienced any issues with this, please get in touch with us via info@opulous.org. We will be happy to help organize your account merge.

Further Ecosystem Developments

We’re working hard on the rest of our ecosystem behind the scenes. After completing the Opulous rewards payouts roll-out, our focus is on getting our MFT ecosystem ready for deployment in Q4.

Together with our partners at applied blockchain, we’re creating groundbreaking products including the MFT launchpad, MFT Staking and MFT Exchange. Our goal is to empower artists at all stages of their careers to release MFTs with Opulous. What’s more, we’ve already lined up more MFT drops with some incredible artists ready to share their journey with fans and memberds.

One part of the MFT ecosystem we’re particularly excited about is the OVault. Our Chief Investment Officer Jay Moore has been busy procuring music catalogs from established and award-winning artists. We’ll be minting the music catalog into OVAULT tokens — which work similarly to MFTs — and will be released in our MFT ecosystem after launch.

We will be dropping the first batch of teasers for our MFT Ecosystem in November — so be ready!

Beyond this, we are continuing to build out our self-service MFTs and music advance structures to help artists fund and develop their own careers. More information about these products will be released throughout Q4 2022 and into 2023.

Working harder than ever

Everyone at Opulous believes in the bright future ahead for our community. This sentiment has been shared by our team, advisors, and partners to the extent that everyone has agreed to stake this year’s OPUL allocation in the OPUL Staking Pool. We’re holding strong, doubling down efforts, and working around the clock to deliver our game-changing products for our community.

We’d like to get more feedback from our community, so if you have some time please fill out this form and let us know what you would like to see more of at Opulous. We are open to feedback about our marketing, communications, products, and suggestions for improvement!

Head to our feedback form here.

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Opulous

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