Improving the opus application; exploring NFT opportunities

Our continued goal is to deliver you, the opus listeners and artists, the best product we can. In this regard, our team has been listening to your feedback and have heard loud and clear that the community is very much interested in the novel and evolving technology of NFT, also known as Non-Fungible-Tokens. We share your sentiment, and have been looking at potential technologies we can introduce to the opus platform in order to further enhance our existing product features.

Non Fungible Tokens are an exciting new development in this space. For those of you that are not already intimately familiar, you can think of NFTs as the rare vinyl albums in many avid music collector’s homes. Or take for example, the “Once Upon A Time in Shaolin” by the Wu-Tang Clan. Which was minted as a 1 of 1 limited edition copy that was sold at auction for two million dollars. It is clear that the collectible music market is established and has demand, however the proof of authenticity for collectors of music is an expensive and arduous process. This is where we can deliver added value to the music industry — one of the key visions of Opus and our team.

The limited edition Wu-Tang album that was sold at auction.

We hope to marry the burgeoning NFT collectible market, worth an estimated $370 Billion with the traditional mass market music industry of $34 billion in order to derive additional value for those at the intersection. Collectors who enjoy art and artists who want to create hype and additional demand for their work.

Music is one that stirs emotion in the human soul — more so than cold art pieces that one hangs on the living room wall. With the advent of NFT technologies we can finally enable collectors to enjoy collecting unique music tracks just as they do art — all at the benefit of the artist who created the music. This is what drives us as Opus and our team is excited to explore the possibility in this new space.

We will keep you updated in upcoming blogs about our research and investment in space. If you want to try the opus streaming platform start now by registering yourself here: https://artist.opus.audio (designated for artists) or here: https://player.opus.audio/login (designated for listeners).

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Opus Foundation

Opus is a open-source decentralized music sharing platform with demo based on Ethereum and IPFS.