Opulous has teamed up with Lil Pump and DJ and producer Kshmr to enable fans to invest in their work through crypto platform Republic.
Blockchain platform Opulous was founded by distribution and record label services company Ditto Music as a decentralised finance solution for artists and the music industry. As well as providing access to funding based on future royalty earnings, it is providing a launchpad for music NFTs.
Republic has a range of asset classes including start-ups, video games, real estate, and crypto. It has so far facilitated over $500 million in investments from over a million global community members.
Music is now a part of Republic’s offering, which gives fans the opportunity to economically support their chosen artist’s new song or album. Fans can invest from $100 into artists on the platform.
Through the platform, fans will be able to share in royalties from streaming services in the form of crypto tokens, which can be sold for cash or exchanged for exclusive tickets, merch, events, NFT drops, and more.
“Opulous is excited to help artists invest in themselves and their art without the need for mainstream financial support such as banks or label deals that take the majority of money they’re due”, said Opulous founder Lee Parsons. “Instead, our ongoing campaigns on Republic will enable fans to invest directly in the music they love so that they can keep creating and build their career into something sustainable and rewarding.”
In working with Opulous and Republic, Lil Pump has offered fans and investors the opportunity to be part of his new single Mona Lisa feat. Soulja Boy, produced by Jimmy Duval. EDM artist Kshmr has also announced that fans will be able to get involved in a new single he is releasing soon.
Kshmr said: “Taking pride in my music and creativity is something that has always been important to me. So I’m excited to team up with Opulous to offer my fans the opportunity to be part of my music and to share in my journey. This new offering will radically change how artists engage with their fans, creating a new era for fan experiences.”
By Miranda Bardsley