summary: Opulous is the only platform to mint Music Fungible Tokens (MFTs). 
content: Opulous is a cryptocurrency-powered online platform that connects artists and investors like never before, leveraging future-proof blockchain and smart contract technology. Overview The global recorded music market increased by 8.2% to US$20.2 billion in 2019, marking the fifth consecutive year of growth. Despite this, the industry has a funding issue. Traditional banks refuse to lend to artists because their most valuable assets, the copyrights they own or share, are not accepted as security. The disconnect between the music industry and capital market investors is limiting the sector's growth potential over the next decade. Opulous is a one-of-a-kind tool for the music industry that recognizes the value of royalties rights and empowers entrepreneurs with the financial resources they need to succeed. The platform will leverage an otherwise illiquid asset through tokenization, providing artists and other industry organisations the clout they need to generate funds. The commercial model of recorded music in the twentieth century was driven by financing constraints. Labels would sign acts, give cash, and recoup their investment by taking a cut of the recording's copyright. The majority of musicians were reliant on this centralized setup since they had few other options for raising funds to record, invest in gear, or promote their work.They don't have to be that way any longer. Opulous will provide industry entities access to financial products such as loans and high-interest accounts that have hitherto been denied to them as the world's first peer-to-peer finance platform backed by real-world music copyright holdings. Opulous, a blockchain-based platform created by music industry experts, will connect investors with musicians in need of funding. Aside from the security and efficiency benefits, two key features make Opulous an excellent blockchain deployment: tokenization and smart contract utility. Working with digital assets like copyright has become considerably easier because to tokenization. Opulous can programmatically view the asset, as well as the ownership divides and revenue chain associated with it, in a way that banks have never been able to. Predictable royalty earnings serve as the foundation for making loans, with catalog ownership serving as security. It implies that artists who might have been disregarded in the past will now be eligible for loans, while also offering the strong security that investors seek. Loan terms can be written directly into smart contracts, a feature of blockchain that automates the execution of contractual obligations. The royalties generated by the staked copyright can be used to pay interest and monthly premiums right away. The copyright is immediately transferred back to the original owner after the loan is returned in full with interest, owing to the smart contract. The Opulous platform, a peer-to-peer DeFi solution created for musicians and artists on the Algorand blockchain system, was recently introduced by Ditto Music, a multinational music distribution firm located in Liverpool. With the support of this groundbreaking platform, hundreds of artists will gain access to funds outside of traditional finance, such as banks. Ditto Music helps over 250,000 independent artists and labels globally as one of the world's most important music distribution and record label services platforms. It distributes music to more than 160 music services, including Spotify, iTunes, Deezer, and Shazam .Their core services include chart eligibility, royalty collection, and web promotion, in addition to music distribution. The Algorand Foundation: A Short Overview A non-profit organization founded with the goal of creating a borderless, frictionless economy based on open-source, decentralized blockchain technology. The Algorand blockchain system was created by Silvio Micali and a group of smart scientists. To realize blockchain technology's future promises, the Algorand Foundation is founded on the blockchain protocol and open-source software. This pioneering platform has envisioned an inclusive ecosystem in a sustainable and environmentally responsible manner by applying the Proof-of-stake consensus mechanism. Opulous: Bringing Music Assets Into DeFi Opulous is the first-ever DeFi (Decentralized Finance) (DeFi) system supported by music as an asset class for musicians. It functions as a loan pool from which artists can borrow as well as donate. With the copyright they own as collateral, artists can readily receive guaranteed low-interest loans based on their previous streaming profits. By contributing to Opulous' Music Copyright Pools, artists and other investors can bypass the inequitable traditional banking system. Meanwhile, they each receive a ten percent annual return on every dollar they contribute. The inspiration behind such an Open-source platform was none other than the 250,000 plus Ditto users who either were not eligible for financial support through traditional means of banking or who hold their streaming revenues in their accounts. Opulous emerged as a bold new venture for investors and also provided an option for financially supporting artists who fervently want to fund the future of their careers. The platform is not just for Ditto users but is open to anyone without restraints. A welcoming environment for investors Institutional investors have flocked to buy back libraries from industrial giants, but this benefits only the institutional participants on both sides of the transaction. The market for investing in copyright and royalty contracts will be blown wide open by adding a liquid layer to them, as Opulous will do. Opulous becomes a universal open platform in which any number of parties can participate by employing smart contract technology. Because there are fewer overheads with the peer-to-peer approach, more profit may be given out to investors. Opulous, unlike most DeFi (Decentralized Finance) platforms, is backed by real assets, ensuring that funds are safe.The platform's transactional operations will be driven by additional token capabilities, but the fundamental method is to visualize and represent an otherwise underserved asset. Returning control to the artists The music industry's lack of investment has perpetuated a power imbalance that has traditionally favored the bigger players. It has stifled creativity and denied creators with a track record of success and financial security the flexibility they would have in any other field. Artists will be able to respond more quickly in financial markets thanks to Opulous, which will provide them with entrepreneurial tools to help them advance their professions. The rewards could be greater than ever in a rising industry. Significant Features of Opulous Opulous leverages Algorand’s blockchain technology benefits and uses it to connect investors with artists who require a loan. Opulous allows investors to seamlessly share high earnings and diversify their portfolios with assets specifically available to music industry insiders. Monthly premiums and interest repayments are automated, and profits are directed straight to investors using Smart contracts. To provide complete backing, it also onboards staking from third-parties. “Musicians are typically largely disregarded when it comes to typical banking loans, or the terms are so unfavorable that it isn't worth their time,” said Lee Parsons, CEO of Ditto, on the introduction of Opulous. Opulous uses De-Fi to bypass traditional banking, giving musicians a platform with low interest rates and investors the opportunity to invest in one of the world's most fascinating and fastest-growing financial industries.” Opulous is built on Algorand's public blockchain technology, which makes it available to the general public while still ensuring transaction security. Ditto and Randlabs are presently working on it. Algorand Technology is the focus of this blockchain development lab. Borderless Capital, TrystVerse, Somesing, BASIC, and Kosmos Capital have already contributed $1.5 million to Opulous' seed round of funding. Elastos, an open-source blockchain network for digital assets, is its first and foremost staking partner. A Minimum viable product (MVP) is in the works, with a release date set for the end of March. Chief Executive Officer and Managing Partner of Borderless Capital, David Garcia, stated that: “Using blockchain technology to democratize the access to the music’s capital markets is really disruptive and unique. We are excited to back the Opulous platform and for the opportunities this is bringing to investors and music artists. By building on top of the Algorand Blockchain, the Opulous platform will perform as one of the first real-world DeFi (Decentralized Finance) applications.” Opulous, a DeFi platform based on Algorand's blockchain technology​, connects investors with artists in need of finance. It will continue to serve as a lending pool for prospective feature musicians in the future. Over the next decade, the industry's revenue is expected to quadruple as new and high-quality investments are made. It's also a significant step forward for decentralized blockchain technology. Uniqueness of the platform DeFi is one of the fastest-growing industries in the cryptocurrency world, with the potential to impact the future of finance. It has already begun to loosen banks' grip and cause consumers to reconsider the outdated practices set by traditional lenders. Existing systems have seen substantial growth, with over $37 billion in DeFi projects already in the works. Opulous will launch a new peer-to-peer service with a ground-breaking collateral method that captures the genuine value of real-world music assets. DeFi lets any borrower to g