Music NFT and DeFi platform Opulous is planning to create and release NFT collectibles on Binance NFT, a new non-fungible token marketplace from blockchain ecosystem and cryptocurrency infrastructure provider, Binance.
Established by Ditto Music founder Lee Parsons earlier this year, Opulous is a blockchain-powered financial support initiative for artists, which is described as the first-ever decentralised finance (DeFi) offering backed by music as an asset class.
The Opulous platform also facilitates the launch of Opulous Music NFTs, which the company says is “a new form of NFT” that offers buyers rewards and a share of a song’s future earnings in exchange for social media support, as well as peer-to-peer DeFi loans.
The NFTs sales will also include the opportunity for buyers to participate in fan experiences and engagements.
Opulous plans to launch a series of exclusive music NFT drops on Binance with “major artists”, led by Lil Yachty and Kyle, with others to be announced soon. Binance NFT launches on June 24.
[UPDATE: In January 2022, Lil Yachty filed a lawsuit against Opulous in the US accusing the company of using his name and likeness without permission in the company press release that led to this news story.]
MBW understands that Opulous is getting ready to announce a string of new exclusive music copyright NFT sales in tandem with a large industry partner.
This follows Opulous’s pioneering experiment with NFT copyright sales on the blockchain earlier this year, when it – then known as Bluebox – sold 1% stakes in recordings by Big Zuu and Taylor Bennett to over 120 people via cryptocurrency transactions.
“We’re delighted to work with Binance NFT to launch these exclusive NFT drops with some of the most exciting artists from all over the world.”
Lee Parsons, Opulous
Opulous CEO Lee Parsons, said: “We’re delighted to work with Binance NFT to launch these exclusive NFT drops with some of the most exciting artists from all over the world.
“I’ve been passionate about the applications of crypto and blockchain technology within the music industry for many years, and believe the launch of NFT drops like these will help to strengthen the connection between artists and their fans well into the future.”Music Business Worldwide