Host : Please welcome our special guest Fernando Cruz
Fernando Cruz : Hey guys! how are you
it’s amazing to have this opportunity to talk to you about Opulous
thank you very much for the invitation
Host : Wonderful mate, very pleased to meet you ✨😍
Our community can’t wait to start AMA with Opulous and you hahahah
Fernando Cruz : hahahaha, great, I’m excited too
Let’s do this
Segment 1
Host : Please introduce yourself to our community mate 😁😆
Fernando Cruz : Sure!
I’ve been working on the music business for over 10 years now
I started as a DJ, became a producer and then I moved to the business side
I had a marketing agency for DJs and also a music news website
5 year ago I met Lee, the CEO of Opulous, we became great friends, and then after an year I also started working for him at Ditto
Been working very close to him on the marketing side and this year, 2021, in January, I joined the Opulous team to lead the marketing team
I’m proud to be part of this project, we have an amazing team supporting us
Host : What is Opulous ? would you please explain to our community ?
Opulous offers two products to solve the funding problems musicians face right now. The first is Defi loans and the second is a new form of copyrigh-backed NFTs
Unlike other platforms, Opulous DeFi loans are backed by real-world assets like music. We can give loans to any artists with a stable income up to the value of the royalties they earn over 12 months, so they can invest in their own careers.
Fernando Cruz : We’ve also built Opulous NFTs to offer buyers a share of a song’s future royalty earnings and other exclusive rewards. We’re using the tech behind NFTs to give fans a real stake in their favorite artist’s career and even more incentive to connect with and support them.
Host : So this project is focus on NFT
- Please tell us about the vision and mission of your project mate 😉
One of the biggest problems in the music industry is the lack of funding for new artists. Banks and standard lenders just don’t understand the actual value of music, although musicians now have access to years of complex data to prove their income. Then there are major labels, who are happy to throw money at artists for market share but only in exchange for complete ownership of their copyrights, which is so unfair and very rarely works in the artist’s favor long term.
My team and I are so passionate about blockchain tech and its implications for the music industry. The music industry is famously slow to adapt to new technologies. Right now, we’re at the forefront of a brand new industry, bringing music assets onto the blockchain.
Fernando Cruz : Opulous can help artists escape the unfair deals forced on them by major labels. We want to help them take control of their careers and create the art they want to make without any limits or terms holding them back.
Host : Okay this question is expect you to explain more about this project ahahahah
3. Opulous is powered by cryptocurrency, using future-proof blockchain & smart contract technology to connect artists and investors like never before. what is your featured product mate ? would you please introduce it to us ?
Fernando Cruz : Nice!!
Opulous offers two products to solve the funding problems musicians face right now. The first is DeFi loans and the second is a new form of music-copyright backed NFTs.
Unlike other platforms, Opulous DeFi loans are backed by real-world assets like music. We can give loans to any artists with a stable income up to the value of the royalties they earn over 12 months, so they can invest in their own careers.
We’ve also built Opulous NFTs to offer buyers a share of a song’s future royalty earnings and other exclusive rewards. We’re using the tech behind NFTs to give fans a real stake in their favorite artist’s career and even more incentive to connect with and support them.
4. Host : Opulous is the first platform to launch music copyright NFTs.would you please explain it more ? what are benefits user will get on this platform ?
Fernando Cruz : Opulous is the only platform where any artist will be able to sell a real stake in their music career with our music copyright-backed NFTs. And any fan will be able to earn royalties from the music they love.
We’ve built NFTs that offer buyers a share of a song’s future royalty earnings and other exclusive rewards.
That royalty revenue comes from platforms like Spotify. Whenever a song is played on Spotify, Apple Music, or any other major streaming service, the NFT owners get paid.
That also means as a track or artist becomes more popular, the value of these NFTs goes up.
So there are enormous benefits for artists who want to raise money to fund their careers and form closer connections with their fans. On the other side, NFT buyers will be able to get hold of music assets that generate income and can also increase in value.
Host : This is really good 🥰🥰🥰
5. And how can we get opulous token mate ?
Fernando Cruz :We’ve just done community raises through DAOMaker and Trustswap, and it was a huge success.
We are now scheduling the second part of the DAOMaker raise, and right after that, the $OPUL token will be launched on exchanges.
You can join our Telegram group to keep up with the latest news about our final private sale and listing. https://t.me/opulousapp
We actually have an Indonesian group, forgot to mention it
https://t.me/opulous_indonesia
It was created last week, we are happy to be even more connected to Indonesia now
Segment 2
Member 1 : DeFi is one of the fastest growing sectors in the crypto world and will shape the future of the decentralized finance industry. So what role does Opulous play in the DeFi space?
Fernando Cruz : DeFi is a fantastic concept, and something I’m sure will take over the financial industries in the years to come. But we’re very different from current DeFi lending platforms like Compound and BlockFi.
Opulous DeFi loans are backed by predictable, real-world music assets – rather than crypto. Artists can apply for peer-to-peer loans up to the value of the average royalties they generate over 12 months, using their copyrights as collateral. There’s nothing like it out there right now.
Artists also give us a license to receive royalties from those copyrights until all their loans are paid back. That means we can guarantee there’ll be no defaults.
It’s all about decentralizing the music industry, removing the middlemen and the roadblocks that stop artists from investing in themselves, and replacing this broken system with DeFi.
That means musicians can fund their careers on their own while keeping ownership of the music they create.
Member 2 : Do you plan to create new use cases for the OPUL token to increase its value ? If so, what will they be targeted first ?
Fernando Cruz : Every transaction on the Opulous platform will use our native $OPUL token. $OPUL also gives our users special discounts when they’re buying or trading NFTs, and token holders will have exclusive access to major NFT drops too.
On the DeFi side, we’ll offer pools with higher returns exclusively for $OPUL holders. We also want to implement governance functionalities, giving $OPUL holders the ability to decide on future upgrades and features across the platform.
Member 3 : What are your major goals to archive in the next 3-4 years? Where can we see your Ecosystem in this period? What are your plans to expand and gain more adoption?
Fernando Cruz : Thank you for the question, we are very excited about the future
Our vision is to decentralize the music industry with blockchain tech, using DeFi and NFTs to create a fairer system for artists and new opportunities for fans and investors.
In 3-4 years, we want to be established as the biggest music funding platform, providing NFTs and Defi for artists, fans, and investors; and adding more functionalities as we grow.
Host : Our community will support you guys!! Keep spirit up ❤️🔥❤️🔥
Member 4 : Will the dividend of NFT copyright be defined as securities and be regulated?
Fernando Cruz : I appreciate that!!
We are partnering with a huge financial company that is providing the framework for our NFT sales. Unfortunately I can’t give many details now, but they will be announced soon.
Member 5 : What are the plans to educate and raise awareness and adoption among the community to make more people understand Opulous easily even for beginners?
Fernando Cruz : We’re already working to educate our massive Ditto Music user base on how blockchain can make the music industry fairer for them and bring them onto the Opulous platform.
We have already posted some and we are producing new blogs and educational videos right now.
We’ve also got plans to start releasing NFTs for huge artists worldwide. That is sure to bring massive awareness to Opulous through their existing audience and media exposure.
On top of that, we’re setting up partnerships with well-known music YouTubers to help reach even more music fans and artists.
Host : Would you share the link of educational videos here mate?
Fernando Cruz : Let me get it!
You can also find more videos about Opulous searching on Youtube and checking our Twitter page https://twitter.com/opulousapp.
Segment 3
Host : Now we move to the last segment
Wohooo this is the best part to our community 🥳🥳🥳🥳🥳🥳
I will open chat for 1 minute
Make sure you choose 5 questions and reply them
They will be the winner of this AMA 🥳🥳🥳🥳
Okay be ready guyyyyyyyysssss 🔥🔥🔥🔥
OMG 3k++++++ 👁️👄👁️
Member 1 : As an individual user ,In what ways can I contribute to the development of Opulous? Do you have Ambassador programs and what are its benefits?
Fernando Cruz : This is a good question, how to get involved! Right now we are idealizing an ambassadors program and until this is not out, we are hiring people to help with community management. Please reach @ivamcesar for more information!
Member 2 : What is PROJECT’s revenue model? In which ways do you generate revenue/profit?
Fernando Cruz : We’re investing heavily in smart contract security and development to guarantee every user’s fund will be safe on the platform. Our contracts are secured according to best practices and they are undergoing a full external security audit.
Member 3 : How far has the roadmap been carried out until the end of this year and what is the positive results have been achieved?
Fernando Cruz : We’re already well into the development of Opulous and we’ll be launching our NFT launchpad as soon as possible, starting with some exclusive sales from major artists, before we open the platform up to artists everywhere.
We’re also planning to launch our DeFi loan platform later this year and NFT Exchange early next year, both of which are also in development right now. You can check out our full roadmap over on our DAO Maker research page here:
https://daomaker.com/company/opulous
Member 4 : How secure is your platform to use? Have you done audits of smart contract? What security measures are adopted from bugs of smart contract and hacking?
Fernando Cruz : We’re investing heavily in smart contract security and development to guarantee every user’s fund will be safe on the platform. Our contracts are secured according to best practices and they are undergoing a full external security audit.
Member 5 : several other projects already provide Token and NFT purchases using Debit or Credit cards! does Opulous have this method, or do you have plans to implement it on your platform?
Fernando Cruz :Yes, we are partnering with one of the biggest companies in the crypto business to process debit and credit card purchases, we will announce this partnership in detail when we are ready for the first big sale.
If you have any other questions, please join our Telegram Groups
https://t.me/opulous_indonesia
Thank you very much
