Music reward payments are now available for claiming directly from the Opulous Dashboard!
Before you begin, we kindly request all users to read this blog carefully, as it contains vital information to ensure you don’t miss anything.
What are Music Rewards?
Music Rewards your share of the music revenue generated from the MFT you’ve held.
In this blog, we’ll cover:
- How to claim MFTs
- How to claim rewards
- Understanding your rewards
Let’s get started on claiming your well-deserved Music Rewards! 🎉
Claim your MFTs
To claim your rewards, it’s essential to have your MFTs securely stored in your wallet. You’re all set if you’ve already claimed your MFTs, which’re safely in your wallet! You can proceed to learn how to claim your music rewards.
However, if you’ve participated in our MFT drops but haven’t claimed your MFTs yet, you won’t be eligible to receive rewards this time. Don’t worry, though, as you can still participate in our next distribution of music rewards!
How to Claim Music Rewards
STEP 1: Connect your wallet
Start by connecting the wallet containing your MFTs to the Opulous app. You can choose to connect with either Pera Wallet.
STEP 2: Check your MFTs are in your Assets Tab
Double-check in the Assets tab that you’ve successfully claimed your MFTs. If your assets are there, you’re good to proceed. If not, refer to our blog updates for guidance on claiming your assets.
STEP 3: Explore your Music Rewards
Exciting times ahead! Head to the ‘Assets’ tab and click “Rewards.” In the rewards section, you’ll find two important tabs: Reports & Payouts.
Reports offer key analytics for your MFTs, showcasing countries where your music is played, platform listenership like Spotify & Apple Music, and overall earnings from those stores!
Under rewards, you’ll see two toggles: My Rewards and Total. My Rewards displays your MFTs’ revenue, while Total shows earnings from 100% of the release, including all MFTs and the artist’s share.
IMPORTANT: Music platforms pay out at different times, so some stores may be empty. Rest assured, future payments will be included in the next batch of rewards.
STEP 4: Claim your Music Rewards
Head to the Payouts tab to see available rewards in USDC. If you haven’t opted-in to USDC yet, ensure you have at least 0.01 ALGO in your wallet.
Claiming your Music Rewards is easy! Click ‘Claim rewards’ and then ‘Confirm.’
Congratulations! You’ve earned rewards from your MFTs, real utility from real-world music assets. New rewards are paid every three months, as soon as we receive them from distributors like Ditto Music, they’re sent to your account.
For a visual guide, check out our video walkthrough to see our Music Rewards in action.
Frequently Asked Questions
Music rewards can be a little complex, so we want to give you a breakdown of the different possible sources of rewards you can expect to receive in the future:
What is the amount on my reports?
Your reports display two different amounts for your rewards:
- Total: This represents the total revenue generated by a release, including all MFTs and the artist’s share.
- My Rewards: Your rewards are proportional to the number of MFTs you hold (total revenue/percentage of total MFTs). So the more MFTs you hold, the more rewards you’ll earn!
How often are Music Rewards paid?
Music Rewards will be paid at the start of each quarter , which means there will be four Music Reward payouts per annum, each occurring every three months.
What can I do with music rewards?
Music Rewards are distributed as USDC (Circle Stable Coin), which can be used to purchase other coins such as OPUL. Discover how to buy OPUL here!
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