Opulous Token Utility Update (OPUL)
Around this time last year, we launched the Opulous Token (OPUL) to the public with one thing on our minds — reinventing the convergence of music and ownership.
We’re building our ecosystem with the OPUL token at the center of everything we do. It powers all of our key components and will drive progress as we push on into each new phase of our full rollout.
Let’s dig deeper into how OPUL is taking center stage, fueling our platform and unleashing new use cases as we continue to level up the Opulous ecosystem.
OPUL Staking Pool
Our single-asset OPUL Staking Pool has arrived. OPUL is central to our platform’s entire infrastructure — and here are a few key OPUL utilities in our staking pool:
- Stake OPUL and earn more OPUL. The longer you stake, the better APY.
- For every OPUL token you stake, you’ll earn daily raffle tickets that can be applied to access upcoming MFT drops and exclusive rewards.
- The more OPUL you stake, the better your chance to win rewards!
Make sure to check out our development update here, which delves deeper into the OPUL Staking Pool and our upcoming tech.
We’re quickly expanding token utility thanks to our all-new MFT ecosystem. The OPUL token is set to offer loads of awesome possibilities to enhance your experience when trading MFTs.
Our upcoming MFT launchpad is one of our most significant undertakings yet, enabling fractionalized music royalty sales for artists across the globe.
When you stake OPUL, you’ll be given the opportunity to apply for early access to upcoming MFT drops via Opulous Rewards. Given that most of our drops will sell out during our exclusive presale, OPUL holders will always have a head start.
You’ll also be able to purchase MFTs within our launchpad using OPUL as payment. We’re currently working internally to offer discounted MFTs for anyone who uses OPUL instead of other major crypto or fiat currencies. By holding OPUL, you’ll have a better chance to join upcoming sales and get the best bang for your buck at the same time!
There’s more major OPUL token utility on the way in our upcoming MFT Exchange.
Investors will be able to trade MFTs through our exchange using OPUL. And of course, the exchange is being built directly into the Opulous platform — integrated with a third-party Algorand DEX — for ultimate ease of use and greater liquidity.
Our Royalty Vault also lies within our MFT ecosystem, offering vault members the opportunity to invest in lucrative music copyrights, previously not available to the general public.
The Royalty Vault operates similar to an open-ended fund combined with utility tokens. Opulous identifies the best music opportunities from a range of music catalogs. These songs are then added into the Royalty Vault and minted into OVAULT tokens. Investors will be able to buy OVAULT and stake to receive daily rewards.
The OPUL token will be key to securing OVAULT.
Staking OPUL will give you early access to purchase OVAULT before anyone else via our Opulous Rewards scheme. You’ll also be able to buy OVAULT using OPUL tokens via our exchange.
Opening MFT sales to all artists
Any artist will have the chance to shine through Opulous.
We’re set to facilitate MFT sales for all musicians through our user-friendly platform, opening up unmissable opportunities for artists everywhere to generate new income streams while creating and expanding their own network of loyal fans, music lovers and investors.
The OPUL token has a very specific utility in this context. Firstly, all artists will need OPUL to create their MFT campaigns. Then, of course, investors can purchase those MFTs using OPUL and keep staking OPUL to earn early access to any future MFT offerings.
It’s a perfectly harmonious circle. And everybody wins.
You may remember that we touched on Music Advances in our roadmap update. But here’s a quick recap.
Our innovative pool will be powered by its own Music Advances Token, which can only be purchased using OPUL.
This pool hones in on an artist’s future music royalties, offering them advances based on their earning potential. There’s no other music industry funding method quite like it, and we’re proud to be a trendsetter yet again.
Our Music Advances pool is funded by anyone who deposits Music Advances tokens into it. The reward? You’ll earn a portion of that music royalty revenue we mentioned. It goes without saying that this will all be easy to do inside the Opulous Dashboard once fully implemented!
The future is OPUL
On the heels of our roadmap update, we couldn’t wait to share all the ways our token is growing. We are determined to stay ten steps ahead by expanding utility for OPUL and watching our amazing community reap the rewards.
As we continue to leave our mark on the music industry through blockchain tech, we are determined to innovate and inspire. As always, we thank you for being part of our community and supporting one another along the way!
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