Optus the new hope for the Music Industry
The evolution of music industry has been remarkable over the time, however, the artists have not been compensated with the fair amount of money. Music companies and streaming platforms like YouTube, Spotify, Tidal, Apple Music, and Deezers takes over 80% of the revenue earned from the track. A famous artist can be rich with their amount of share, while the small musician finds it difficult to even survive, that actually forces talent out of the market.
Apart from this, music fans who actually pay for music are also torn apart because platform competition for exclusive deals pays to use them and even listen to their favourite songs for many platforms. These platforms are centralised, which means that they can alter their algorithms and at any time can influence the life of artists, can be censored or even closed.
The solution to these problems has come up, the world's first truly decentralised music platform aims to give artists 100% revenues, while the streaming environment is quite important.
Even playlist makers should be compensated Opus COO Matüse Mach said:
"I'm disappointed with how big companies deal with musicians in the music industry nowadays, so I decided to join the Opus Foundation"
Decentralising Music
Opus is a peer to peer layer storage based on Ethereum as a logic layer and allows you to connect computing systems with the same file system to songs. It also means that there is no centralised server, its structure, essentially, means that an organisation can not attempt to censor artists on the Opus platform, while two-layer solutions reduce gas costs simultaneously gives and increase scalability.
Token Crowdsale
The token sale for Opus Foundation to raise some money and to develop and promote their platform.
Presale will start on July 14, 23:00 GMT.
The initial adopters are going to be able to get the token bonus on their purchase, although each address is limited to maximum 1000 ether.
1% of the total contribution added, to ensure decentralisation.
A hard cap of $ 20 million has been implemented.However, the distribution is categorised like:
45% of the total fund will be used to develop the platform
25% to pay for the market and promote the platform
13% for existing artists.
10% will be allocated to operations.
Also, a small amount will also be used for legal fees i.e. 7%.
Thier open public beta looks somewhat like this:
Anticipation before the crowd-sale
Due to the interesting nature of its market, strong business plan, a transparent team and an open public beta, crowd sales are a must for those who are looking to diversify their crowd sales interests.
Opus recommends users to read their white paper well, whether a question arises, users welcome on Slake and if you want to contribute, you can do this on Github.
