Opulous Updates: Introducing DeFi Pools
In our final #progressweek update, we’re taking another big step toward bringing our vision to life: We’re bringing DeFi to Opulous. We’re very proud to offer the prototype of music-copyright-backed NFT LPs (lending pools). At Opulous, we’re full of firsts — and we wouldn’t have it any other way.
Recently, we introduced you to our upcoming dashboard and the MFT claiming process. We also walked you through our upcoming music royalties platform and unfurled our plans for Opulous artwork generative NFTs.
Next, we’d like to share our biggest news yet: we’re going full DeFi in the upcoming months!
Keeping our lips sealed was incredibly tough, but we’re delighted to share that staking is coming to Opulous in Q2 of this year! So naturally, this is a pretty big moment for both our team and the Opulous community, and we can’t wait to divulge all the details so let’s jump right in.
How it works
We will offer three core staking features in the Opulous DeFi ecosystem. That means three ways to earn passive income while supporting the music industry and the phenomenal talent within it.
- The Opulous Pool (Q2 2022)
By depositing OPUL tokens into our staking pool, you will receive generous APYs along with exclusive rewards and giveaways. You already know we like to make a splash when it comes to Opulous giveaways, and we’re really just getting started. This is your chance to get in on all the action.
- Deposit OPUL into our pool
- Receive a generous APY
- Earn exciting rewards and special access to our MFT sales
2. The Opulous Music Fund (Q2 2022)
The pool is hand-curated by the Opulous team and centers around music copyright acquisitions. We acquire the best music catalog assets from the top artists worldwide. Then, whenever their music is streamed, purchased, or used in film and TV, it earns music royalties. The royalties from the assets we acquire are then distributed to the music fund pool members.
- Deposit USDC into the fund
- Opulous acquires music copyright assets
- Opulous distributes music royalties to pool members
3. Opulous Music Loans (Q3 2022)
At Opulous, we use future music royalty earnings as collateral to offer loans to musicians and creators. Now, for the first time, artists can use their future copyright earnings as a guarantee to take out loans from our bespoke music loans pool.
- Deposit USDC
- Musicians use their potential copyright income as collateral to take out loans
- Investors get paid back through musicians’ music royalties
We’ve enjoyed sharing our incredible #progressweek with everyone!
The Opulous dashboard will be available later this month, and royalty payments are coming in April. We’re excited to get all of this out to you!
Over the next few weeks and months, we’ll be rolling out our exciting new features to Opulous users. However, it’s you, our community, who will bring our entire ecosystem to life.
If you’d like to be part of the movement, keep a close eye on all our socials as we announce more big developments — and how you can participate — in the upcoming weeks! (TIP: activate notifications for anything posted by Opulous).
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