Opulous is set to collaborate with TrustSwap for their upcoming ASA $OPUL token offering on June 30th 2021 starting at 9:00 AM PST.
OPULOUS is the world’s first platform bringing Decentralized Finance to the music industry. The project will provide a launchpad for the first copyright-backed Music NFTs, as well as DeFi loans that would change the way artists access funding.
The platform will offer users the option of choosing Ethereum or Algorand as a blockchain for their tokens. In conjunction with Algorand, Opulous is building a bridge that will facilitate transfers between the two blockchains.
Meanwhile, partnerships and agreements are being established with major exchanges to support their multichain ETH/ASA $OPUL token. Users will be able to deposit ETH tokens, then withdraw ASA tokens, and vice versa.
The Opulous platform has three main functions:
- NFT Launchpad
- NFT Exchange
- DeFi Loans
Opulous Music NFTs are a new form of Non-Fungible Token that entitles holders to a share of a song’s future royalty earnings, and other exclusive rewards, in exchange for social media support.
Opulous peer-to-peer DeFi loans cut out traditional banks, middle-men, and major labels, allowing artists to access up-front cash based on the predictable royalties they generate over 12 months.
The Opulous Ecosystem
NFT Launchpad
Opulous is the first platform to launch copyright-backed Music NFTs. Unlike other NFTs, Opulous tokens offer holders a share in the music’s future royalty earnings alongside exclusive rewards and fan experiences.
Whoever owns these groundbreaking NFTs will get paid every time the song is played on Spotify and other major music services. That also means their value can increase as an artist’s career progresses.
Fans and investors will not only receive royalty payments, but also be able to unlock other exclusive rewards such as backstage passes, gig tickets, and merchandise, simply by sharing the music on social media.
NFT owners can also track and withdraw their earnings directly from their Opulous account and trade their NFTs on the upcoming Opulous NFT Exchange.
NFT Exchange
The Opulous NFT Exchange creates a new sharing economy based on music where anyone can buy and trade copyright-backed Music NFTs to earn a share of the royalties generated.
For example, a music fan could find an underrated song they know is going to become more popular over time.
They can buy it as an Opulous NFT, support an upcoming artist right from the start of their career and earn ever-increasing rewards as the track becomes more valuable while gaining popularity.
DeFi Loans
Opulous offers low-risk DeFi loans backed by real-world music assets and future royalties.
Despite earning a stable royalty income, too many artists are turned away by traditional banks or forced into unfair deals with major labels.
By evaluating an artist’s royalty reports from previous years, Opulous can accurately predict how much money the artist will generate over the next 12 months and offer this amount as a loan.
On the other side, investors can stake their crypto assets on the platform to generate high returns. Unlike most DeFi platforms, Opulous loans are always backed by predictable music assets vetted by the expert team, which greatly reduces risk on investment. In order to avoid loan defaults, Opulous will hold the copyrights used as collateral until the full amount is paid back.
Token Economy
Transactions within Opulous will use the platform’s native $OPUL token, which has a fixed supply and can be purchased through multiple decentralized and centralized exchanges. Users will also be able to purchase NFTs directly using credit or debit cards.
Users can stake $OPUL tokens in high-interest lending pools. Token holders will also receive special discounts on certain transactions as well as exclusive access to NFT drops from major artists.
Opulous Team and Advisors
Opulous has attracted a senior team and board of expert advisors from across the music and crypto worlds.
Opulous(OPUL) Token Offering Details
$OPUL – Secure Launch Process
To guarantee a smooth and secure launch, Opulous has agreed to:
- Have their domain fully SSL certified one week prior to the presale date.
- Have their domain protected by Cloudflare and share proof with TrustSwap one week prior to the presale date.
- Disclose the vesting schedule of all tokens, including team, strategic investors, private presale, influencers, etc.
- Add no less than $200,000 liquidity on DEX immediately upon listing.
- Distribute tokens to launchpad participants within one hour of DEX listing using multisend.io.
- Lock liquidity within 3 hours of listing for no less than 60 days at //team.finance/.
- Provide the timeline for token distributions, and distribute tokens within a one hour window of the agreed upon time.
- Have at least one community moderator on each social platform (Discord, Telegram, etc.) actively available 24 hours a day for the first 7 days following the launch on DEX.
OPUL tokens – Participation and Allocation
Anyone can apply to participate in the $OPUL token offering as long as they’re eligible in their given territory, including those outside the TrustSwap ecosystem. However, application does not guarantee an allocation.
If the $OPUL token offering is over-subscribed priority will be given to the TrustSwap community as follows:
- Anyone with over 4,000 SWAP staked or a SwapScore over 2500 when the launch begins (Snapshot is at 9 AM PST on June 30th, 2021) will be given a guaranteed allocation based on the tiers in the table below.
Step-By-Step Guide
1. Between 9 am PST of June 30th, 2021 and 9 am PST of July 1st, go to https://dashboard.trustswap.org/app/launchpads
2. Complete the necessary steps and verify your identity.
3. The portal will close once 24 hours have elapsed. There will be a waiting period of up to 48 hours as the Opulous team finalizes internal processes.
4. If your application is successful, you will receive an email indicating how much you are able to contribute to the token offering. You will have 24 hours to send the funds or your position will be given to the others.
What Should I Do to Prepare for the Opulous ($OPUL) token Offering?
Based on the requirements set for a guaranteed allocation, stake your $SWAP tokens here before the deadline mentioned above.
Take a photo of your government issued ID card (Passport, Drivers License, or any other form of government issued ID card that has your photo in it).
Take a selfie of yourself holding the ID card along with a note that reads: “Opulous 30th June 2021”.
Submit your details and documents at any point during the 24 hours window at https://launchpad.trustswap.org/.
Where Can I Learn More About Opulous (OPUL)?
Website: https://opulous.org/
Medium: https://opulous.medium.com/
Telegram : https://t.me/opulousapp
Twitter: https://twitter.com/opulousapp
Reddit: https://reddit.com/r/opulous
Who Can Participate in Opulous token sale?
Anyone not domiciled in the USA or UN sanctioned countries can participate in the Opulous token sale.
*The eligible countries list is selected by Opulous . If your country is not listed, this does not mean you are ineligible for future TrustSwap Launchpad projects.
** Launchpad dates are subject to change. This is not an endorsement, partnership or an offer for investment by TrustSwap. Opulous is using the TrustSwap Launchpad as a customer, with specific requests as to how they need their launch to operate. TrustSwap is a provider of non-custodial, smart-contract-based software services. Digital assets carry a high level of risk. Participation is performed at your own risk. Exercise caution and conduct your own due diligence.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
