The following is not financial advice.
Welcome to back The Scoop!
This is the next post at a place where we share analysis and opinions for interesting coins, tokens and pure gems in the vast landscape of the blockchain world. There's so many coins out there, but not a lot of free information (looking at you, paid groups) and analysis on them. The Scoop aims to change that by sharing and improving the data available for a given coin and evaluating instead of predicting.
What is Opus?
Opus is a music platform build on Ethereum and IPFS with the catchy tag line, "Get 100% of the revenue". They have a demo product which actually looks a lot like Spotify (in a good way):
https://opus-foundation.org/demo/demo.html
There you can buy songs with OPT tokens and while a demo, the interaction and idea is pretty frictionless.
Where's the wallet?
You may use an eth wallet to store OPT tokens.
Along with the whitepaper:
https://opus-foundation.org/whitepaper.pdf
How many of them are they?
CMC says ~140m circulating with a total supply of ~248m.
Who's the team?
Business team (CEO, COO, CTO) with the rest being developers, analysts, art (it is a music coin after all) and marketing leads.
More on them:
https://opus-foundation.org/index.php/team/
Marketcap and Competitors?
~20m cap with ~700k volume.
Similar projects or target industry...
- Musicoin ($MUSIC) -> ~55m
- Voise ($VOISE) -> ~41m
- AudioCoin ($ADC) -> ~9m
How is Opus different?
For one, you can see it. The demo looks and feels good. One could actually see themselves using this thing, which is rare in this industry.
Pros
- started small
- working on a problem yet to be solved
- great whitepaper
- super demo of product
- frequent communication
Cons
- needs better exchanges
- must build on demo to thwart competition (be first!)
Latest Q&A session:
https://medium.com/@info_62555/video-q-a-session-3-34b1afa5cd1c
Where is it traded?
Only EtherDelta and HitBTC as of now.
https://coinmarketcap.com/currencies/opus/#markets
The Final
Based on the FA, OPT looks like a low to medium risk with high reward potential if they continue to deliver and catch on. Picking it up under 1k sats would be bargain or around 20 - 30 cents would be an upper entry while still expecting solid, crypto-style gains.
And that's your scoop!